Two-Wheeler Tires Market Size Set to Hit USD 21.8 Billion by 2034, Driven by 8.0% CAGR - Latest Report by TMR

Two-wheeler Tires Market (Tire Type: Tube Tire, Tubeless Tire, and Others)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2034

WILMINGTON, DE, UNITED STATES, December 17, 2024 /EINPresswire.com/ -- Two-wheeler Tires Market Outlook to 2034

The global two-wheeler tires market was valued at US$ 9.3 billion in 2023 and is estimated to expand at a CAGR of 8.0% from 2024 to 2034, reaching **US$ 21.8 billion** by the end of 2034.

This growth is driven by the rising demand for two-wheelers in emerging economies, increasing adoption of electric bikes and scooters, and advancements in tire technology, including enhanced durability and fuel efficiency.

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Market Overview

The global two-wheeler tires market is experiencing significant growth, driven by rising two-wheeler sales in emerging economies, increasing demand for electric scooters and bikes, and a growing focus on tire innovation. Two-wheelers, including motorcycles, scooters, and bicycles, serve as a convenient and cost-effective mode of transportation, particularly in developing regions. The growing urban population, rising disposable incomes, and advancements in tire technology are further contributing to market expansion.

Market Description

The two-wheeler tires market includes tires designed for motorcycles, scooters, mopeds, electric bikes, and bicycles. These tires play a crucial role in ensuring vehicle performance, safety, and efficiency. With advancements in technology, tire manufacturers are focusing on developing durable, lightweight, and eco-friendly tires that cater to varying road conditions and consumer needs.

Types of Two-wheeler Tires:

⦁ Tubed Tires: Traditional tires that use an inner tube for inflation.
⦁ Tubeless Tires: Modern tires offering improved safety and better performance.
⦁ Radial Tires: Designed for superior grip and stability.
⦁ Bias Tires: Cost-effective tires suited for light two-wheelers.

Key Players-

⦁ Anlas
⦁ Apollo Tyres Ltd.
⦁ Bridgestone Corporation
⦁ CEAT Limited
⦁ Continental Corporation
⦁ Deestone
⦁ DSI
⦁ Dunlop
⦁ Giti Tire Pte. Ltd.
⦁ Goodyear Tires
⦁ Hankook Tires
⦁ IRC
⦁ many more key players

Key Player Strategies-

Leading manufacturers in the two-wheeler tires market are focusing on:

⦁ Product Innovation: Developing advanced tires, such as radial tires and low-resistance tires, for better fuel efficiency and performance.
⦁ Sustainability: Introducing eco-friendly and recyclable tires to meet environmental regulations.
⦁ Expansion in Emerging Markets: Strengthening distribution channels and manufacturing facilities in high-growth regions like Asia-Pacific.
⦁ Strategic Partnerships: Collaborating with two-wheeler OEMs to develop specialized tires tailored to vehicle requirements.
⦁ Aftermarket Growth: Expanding aftermarket services and retail networks to capture replacement tire demand.

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Market Demand

The demand for two-wheeler tires is primarily driven by:

⦁ Urban Mobility: Growing urban congestion is prompting consumers to opt for two-wheelers as a convenient and affordable mode of transportation.
⦁ Rural Penetration: In developing regions, two-wheelers are a critical means of mobility in rural areas, fueling tire demand.
⦁ Rising Popularity of Electric Two-Wheelers: The shift toward sustainable mobility is increasing the adoption of electric scooters and bikes, boosting tire demand.
⦁ Replacement Market: Due to frequent tire wear caused by poor road infrastructure, the aftermarket segment accounts for a significant share of tire demand.

Market Growth Drivers

1. Increasing Two-Wheeler Ownership: Growing urbanization and rising demand for affordable transportation in countries like India, Indonesia, and Brazil are fueling two-wheeler sales, driving tire demand.
2. Growth of Electric Two-Wheelers: The rapid adoption of electric bikes and scooters is boosting the demand for specialized tires designed for electric vehicles.
3. Rising Focus on Road Safety: Increased consumer awareness regarding safety and performance is driving demand for high-quality, durable tires.
4. Tire Replacement Demand: Frequent tire replacement due to wear-and-tear, particularly in regions with rough road conditions, is a significant market driver.
5. Technological Advancements: Innovations such as puncture-proof tires, airless tires, and eco-friendly materials are gaining traction, improving vehicle performance and sustainability.

Applications
Two-wheeler tires are primarily used in:

⦁ Motorcycles: High-performance tires for sport bikes, touring motorcycles, and off-road bikes.
⦁ Scooters and Mopeds: Durable tires designed for urban and daily commuting.
⦁ Electric Bikes and Scooters: Energy-efficient tires optimized for electric two-wheelers.
⦁ Bicycles: Tires catering to mountain biking, road cycling, and city commuting.

Segmentations

⦁ By Tire Type:
Tubeless Tires
Tubed Tires
Radial Tires
Bias Tires
⦁ By Vehicle Type:
Motorcycles
Scooters and Mopeds
Bicycles
Electric Two-Wheelers
⦁ By Sales Channel:
OEM (Original Equipment Manufacturer)
Aftermarket
⦁ By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

Why Buy This Report?

⦁ Comprehensive Market Analysis: Gain insights into market trends, growth drivers, challenges, and opportunities in the two-wheeler tires market.
⦁ Strategic Insights: Understand key player strategies, product innovations, and technological advancements driving market growth.
⦁ Forecasts and Projections: Reliable market forecasts to help businesses plan future strategies and investments.
⦁ Regional Analysis: Explore opportunities in key markets, with a focus on Asia-Pacific, the largest consumer of two-wheeler tires.
⦁ Competitive Landscape: Profiles of leading manufacturers, including their market positioning and growth initiatives.

This report is essential for tire manufacturers, two-wheeler OEMs, investors, and stakeholders seeking to capitalize on growth opportunities in the two-wheeler tires market, ensuring informed decision-making and strategic planning.

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