Global Two-Wheeler Tire Market Will Grow at a CAGR of 10% during 2019-2023 | Technavio

LONDON–(BUSINESS WIRE)–lt;a href=”” target=”_blank”gt;#Automobileslt;/agt;–Technavio has announced the release of their research report on the
global two-wheeler tire market for the forecast period 2019-2023. This
global two-wheeler tire market analysis report segments the market by
application (motorcycles and scooters) and geography (APAC, Europe, the
Middle East, and Africa, North America, and South America).

Global two-wheeler tire market size will grow by USD 4.53 billion during
2019-2023, at a CAGR of nearly 10%. The increase in disposable income of
consumers in emerging economies has increased the demand for
high-performance motorcycles. These motorcycles come equipped with
high-performance tires that offer superior grip and performance. Also,
the increased adoption of high-performance electric motorcycles has
encouraged many tire manufacturers to offer products that enhance the
mile range. For instance, Zero Motorcycles uses the highly popular
Pirelli Diablo Rosso III tires for its models. The trend of adopting
high-performance tires across the product portfolio of many two-wheeler
manufacturers will fuel the growth of the market.

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Growing two-wheeler population across the world

The increase in the sales of two-wheelers across the world is directly
influencing the growth of the two-wheeler market. Tires are among the
most commonly replaced components in a two-wheeler. The replacement
tires market is witnessing rapid growth because of the high-volume in
emerging economies such as China, India, Vietnam, Indonesia, and others.
With the rise in the population of motorcycles, the demand for
two-wheeler tires is increasing considerably. This factor is expected to
drive the growth of the global two-wheeler tire market during the
forecast period.

The APAC region dominates the two-wheeler tires market because of a
large number of motorcycle sales from countries such as India, China,
and Indonesia. These countries have high adoption rates of
cost-effective scooters and motorcycles. Europe will grow faster than
the overall market during the forecast period. Many European countries
are witnessing the rise in adoption of high-performance electric
motorcycles because of stringent emission regulations. These aspects
will boost the growth of the global two-wheeler tire market during
”, says an analyst at Technavio.

Apollo Tyres entered the Indian market by offering a range of
two-wheeler tires. The company also offers high-performance tires and
tires for heavyweight motorcycles. Furthermore, the company is
developing steel radial tires for top-end motorcycles. Various tire
manufacturers are expanding their business by adopting inorganic growth
strategies. For instance, Michelin acquired Levorin, a Brazilian tire
manufacturer to strengthen its position in offering tires for commuter
motorcycles in the South American region. Many such plans among vendors
will positively impact the market’s growth.

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This global two-wheeler tire industry research report provides an
in-depth analysis of the major drivers, upcoming trends, and challenges
that will impact market growth over the forecast period. The report
analyzes the competitive landscape and offers details on several
two-wheeler tire manufacturers including –

  • Bridgestone Corporation
  • Continental AG
  • MRF

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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