The latest market report published by Credence Research, Inc. “Global Two Wheeler Tire Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The Global Two Wheeler Tire Market generated revenue of around USD 15.5 billion in 2022 and is anticipated to grow a CAGR of over 3.68% during the forecast period from 2023 to 2030 to reach around USD 19.96 billion in 2030.
Several factors will boost the market in the forecast period, including increasing automation and growing safety & security concerns. Additionally, the market is expected to benefit from advancing technology and design and expand the range of distance covered by the type. Furthermore, due to the growing awareness among customers, manufacturers have been forced to provide various security features to increase sales and maintain their market share. It is also expected that the two-wheeler tire market will continue to grow in the forecast period as governments in almost all countries implement new rules and regulations to enhance passenger safety and security while traveling.
The global two wheeler tire market is bifurcated into Tire Type, Tube Specification, Rim Size, 2W Type, Sales Channel and Geography. Based on tire type, the market is categorized into pneumatic tires and solid/others (advanced tires). On the basis of tube specification, the global market is segmented into tube tires and tubeless tires. Based on rim size, the market is categorized into less than 10 inches, 10-13 inches, 14-17 inches, 18-21 inches, and more than 21 Inches. Based on the 2W type, the market is categorized into ICE motorcycle, ICE scooter/moped, electric motorcycle, and electric scooter/moped. Based on sales channels, the market is categorized into OEM and aftermarket. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, Asia Pacific dominated the global two wheeler tire market and accounted for a major market revenue share in terms of value. This is majorly due to the world’s largest market for two-wheeler tires. China and India are world leaders, with combined market shares of over 75%. Emerging markets also include nations like Indonesia and Vietnam, which experienced strong sales growth.
The Two-Wheeler Tire Market major players analysis provides a comprehensive understanding of the market dynamics, trends, and competition among leading companies. The report covers various aspects such as financial performance, product portfolio, business strategies, key developments and partnerships of major players operating in the global two-wheeler tire industry. Bridgestone Corporation, Michelin Group, Continental AG are some of the top leaders that have been analyzed in this report with their market share and growth rate over the years. Apart from them other important players like Pirelli & C.S.p.A., Dunlop Motorcycle Tires , Shandong Hengfeng Rubber & Plastic Co., Ltd., Cheng Shin Rubber Ind.Co.Ltd (CST) also contribute to the development of this industry.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global two wheeler tire market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global two wheeler tire market segmentation based on tire type, tube specification, rim size, 2W type, and sales channel.
- Major countries in each region with their import/export statistics
- The global two wheeler tire market report also includes analyzing the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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