As per MRFR analysis, the Two Wheeler Tire Market Size was estimated at 8.54 (USD Billion) in 2022.The Two Wheeler Tire Market Industry is expected to grow from 8.77(USD Billion) in 2023 to 11.1 (USD Billion) by 2032. The Two Wheeler Tire Market CAGR (growth rate) is expected to be around 2.65% during the forecast period (2024 - 2032).
Key Two Wheeler Tire Market Trends Highlighted
The global two-wheeler tire market is projected to experience significant growth due to rising urbanization, increasing disposable income, and growing population of motorcyclists. Key market drivers include stringent government regulations regarding vehicle safety, technological advancements in tire design and materials, and expansion of the e-commerce sector.Advancements in tire technology have led to the development of tires with improved grip, durability, and fuel efficiency. The adoption of tubeless tires is also gaining momentum, driven by their puncture resistance and lighter weight. The increasing popularity of electric two-wheelers is creating new opportunities for the market, as these vehicles require specialized tires designed to handle the unique requirements of electric motors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Two Wheeler Tire Market Drivers
Rising Demand for Two-Wheelers in Developing Countries
The demand for two-wheeler tires is projected to increase notably in subsequent years due to the growing population and urbanization in developing countries as well as the increasing number of consumers who have access to two-wheelers in these regions. In addition to this, the expanding pool of customers with disposable income and financing options should benefit the two-wheeler market and, in turn, the Two Wheeler Tire Market Industry, contributing to its significant growth over the forecast period.The development of the middle class and disposable income levels and the expanding infrastructure in Asia and Africa and accelerating urbanization in these and other developing regions are key drivers of demand. Furthermore, government incentives to encourage the use of electric two-wheelers should provide new opportunities for the Two Wheeler Tire Market Industry.
Technological Advancements in Two-Wheeler Tires
Technological advancements are leading to the development of new and improved two-wheeler tires. Manufacturers are focusing on developing tires with better performance, durability, and fuel efficiency. The use of advanced materials and innovative designs is enabling manufacturers to create tires that meet the specific needs of different types of two-wheelers. These advancements are expected to drive the growth of the Two Wheeler Tire Market Industry, as consumers are increasingly looking for tires that offer better performance and value for money.
Growing Popularity of Electric Two-Wheelers
Another major driver of the Two Wheeler Tire Market Industry is the increasing popularity of electric two-wheelers. Electric two-wheelers are being increasingly preferred over the age-old two-wheelers owing to a plethora of reasons. Firstly, they are highly cost-efficient compared to gasoline two-wheelers as they require lesser amount to continue the operational fluidity. Secondly, the increasing emphasis on the need for production of reduced emissions has popularized the use of electric two-wheelers.This can also be attributed to the growing inclination of – right from emulating, public, and private owned two-wheelers to electric vehicles. Last but not least is the growing awareness coupled with the environment of the strict norms of governments of many countries. It offers incentive and subsidiaries to the owners of electric two-wheelers to promote their sales. Their popularity will increase significantly and so will the demand for electric two-wheeler tires.
Two Wheeler Tire Market Segment Insights:
Two Wheeler Tire Market Tire Type Insights
The global two-wheeler tire market is expected to witness significant growth in the coming years, driven by rising demand for two-wheelers in developing countries and increasing adoption of tubeless tires. The market is segmented based on tire type into tubed tires and tubeless tires. Tubed Tires Tubed tires are the traditional type of tires used in two-wheelers. They consist of an inner tube that is inflated with air and a rubber outer tire that provides grip and traction. Tubed tires are relatively inexpensive and easy to repair, making them a popular choice for budget-conscious consumers.However, they are also more prone to punctures and blowouts, especially when underinflated. Tubeless Tires Tubeless tires are a more modern type of tire that does not require an inner tube. They consist of a single piece of rubber that is inflated with air and sealed against the rim of the wheel. Tubeless tires are more expensive than tubed tires, but they offer several advantages. They are less prone to punctures and blowouts, and they provide better handling and stability at high speeds. The growth of the market is attributed to the increasing demand for two-wheelers in developing countries, rising disposable incomes, and the growing popularity of tubeless tires.Asia Pacific is expected to be the largest market for two-wheeler tires, followed by Europe and North America.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Two Wheeler Tire Market Rim Size Insights
The rim size segment of the Two Wheeler Tire Market is divided into “10 Inches”, “10-12 Inches”, “12-14 Inches”, and “>14 Inches”. In 2023, the “10-12 Inches” segment is expected to have the largest share of the market because electric scooters and motorcycles, which are increasing in popularity, commonly use this type of tires. The “10 Inches” segment is also expected to experience high growth, fueled by the increasing demand for mopeds and small two-wheelers in emerging economies. The “>14 Inches” segment is expected to have the smallest share of the market; however, it will grow at a steady rate over the forecast period because high-performance motorcycles are becoming more popular.In general, the rim size segment is expected to grow at a moderate rate over the forecast period because the worldwide demand for two-wheelers is increasing.
Two Wheeler Tire Market End-Use Insights
The Two Wheeler Tire Market segmentation by End-Use comprises OEM and Replacement Market. The Replacement Market segment held a larger market share in 2023 and is projected to continue its dominance during the forecast period. The growth of this segment can be attributed to the increasing number of two-wheelers on the road, leading to a higher demand for tire replacements. According to Two Wheeler Tire Market data, the Replacement Market segment is expected to account for approximately 60% of the total market revenue by 2028. Moreover, the growing popularity of online tire sales and the availability of a wide range of brands and models are further driving the growth of the Replacement Market segment.
Two Wheeler Tire Market Vehicle Type Insights
The Two Wheeler Tire Market is segmented by vehicle type into scooters and motorcycles. The motorcycle segment is expected to hold a larger market share in 2023, owing to the increasing popularity of motorcycles for commuting and recreational purposes. However, the scooter segment is expected to grow at a faster CAGR during the forecast period, due to the growing demand for scooters in emerging markets. In 2023, the Two Wheeler Tire Market for scooters is valued at USD 3.5 billion and is expected to reach USD 4.2 billion by 2032, growing at a CAGR of 2.1%.The growth of the scooter segment is driven by the increasing popularity of scooters in urban areas, due to their convenience, affordability, and fuel efficiency. The Two Wheeler Tire Market for motorcycles is valued at USD 5.2 billion in 2023 and is expected to reach USD 6.9 billion by 2032, growing at a CAGR of 2.4%. The growth of the motorcycle segment is driven by the increasing popularity of motorcycles for commuting and recreational purposes, as well as the growing demand for motorcycles in emerging markets.
Two Wheeler Tire Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Two Wheeler Tire Market. The key distribution channels for two-wheeler tires include Original Equipment Suppliers (OES), multi-brand outlets, and online retailers. OES supply tires directly to two-wheeler manufacturers for new vehicles. In 2023, the OES channel held a significant market share of around 45%. Multi-brand outlets offer a wide range of tire brands and models, catering to the replacement market. This channel accounted for approximately 30% of the market revenue in 2023 and is expected to maintain its share in the coming years.Online retailers, such as e-commerce platforms and brand websites, have gained prominence in recent years, offering convenience and competitive pricing. The online channel is projected to grow at a CAGR of 5.5% during 2024-2032, driven by increasing internet penetration and the growing popularity of online shopping.
Two Wheeler Tire Market Regional Insights
North America accounts for a sizeable portion of the Two Wheeler Tire Market revenue, driven by increasing demand for off-road and adventure motorcycles. The region's developed infrastructure and high disposable income contribute to strong market growth. Europe follows closely, with a significant two-wheeler industry and growing adoption of electric scooters. APAC is projected to witness substantial market expansion due to rising disposable income and motorcycle ownership rates, particularly in India and Southeast Asia. South America and MEA are emerging markets with potential for growth as urbanization and motorcycle affordability increase.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Two Wheeler Tire Market Key Players And Competitive Insights:
Major players in Two Wheeler Tire Market are constantly striving to gain a competitive edge through strategic initiatives such as product innovations, collaborations, and mergers and acquisitions. Leading Two Wheeler Tire Market players are investing heavily in research and development to enhance the performance, durability, and safety of their tires. The Two Wheeler Tire Market industry is characterized by intense competition, with established players vying for market share through aggressive marketing campaigns and customer-centric initiatives. Two Wheeler Tire Market development is driven by technological advancements, changing consumer preferences, and evolving regulatory frameworks, which present both opportunities and challenges for market participants. The Competitive Landscape of the Two Wheeler Tire Market is expected to remain dynamic in the coming years, with new entrants and innovative products shaping the industry landscape.MRF is a leading player in the Two Wheeler Tire Market industry, with a strong presence in both domestic and international markets. The company has a wide portfolio of tires catering to various segments of the two-wheeler market, including motorcycles, scooters, and mopeds. MRF's tires are known for their durability, reliability, and cost-effectiveness, which have contributed to the company's success in the competitive Two Wheeler Tire Market. MRF has a well-established distribution network and a dedicated team of engineers and technicians, allowing it to quickly respond to changing market demands and provide excellent customer service.Michelin is a global leader in the tire industry, with a significant presence in the Two Wheeler Tire Market. The company is known for its innovative tire technologies and premium product offerings. Michelin's Two Wheeler Tire products are designed to meet the specific needs of different motorcycle segments, ranging from sportbikes to cruisers and adventure bikes. The company's focus on safety, performance, and reliability has earned it a loyal customer base worldwide. Michelin has a strong brand reputation and a wide distribution network, which contributes to its competitive advantage in the Two Wheeler Tire Market.
Key Companies in the Two Wheeler Tire Market Include:
Two Wheeler Tire Market Industry Developments
The global two-wheeler tire market is projected to grow from USD 8.77 billion in 2023 to USD 11.1 billion by 2032, at a CAGR of 2.65%. Rising disposable income, increasing urbanization, and growing demand for two-wheelers in developing countries are driving the market growth. Additionally, advancements in tire technology, such as the development of tubeless tires and run-flat tires, are further fueling market expansion. Key industry players are focusing on expanding their product portfolios and investing in research and development to cater to the evolving needs of consumers. The market is expected to witness significant growth opportunities in the electric two-wheeler segment, driven by government initiatives promoting sustainable transportation.
Two Wheeler Tire Market Segmentation Insights
Two Wheeler Tire Market Regional Outlook
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 8.54(USD Billion) |
| Market Size 2023 | 8.77(USD Billion) |
| Market Size 2032 | 11.1(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 2.65% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Goodyear, Cheng Shin Rub, Dunlop Tyre, Pirelli, Apollo Tyres Ltd, Continental Tirestheworld AG, MRF (Madras Rubber Factory), CEAT, Yokohama Rubber, CST Tire, Maxxis, Hankook Tire, Bridgestone Corporation, Michelin, TVS Srichakra Ltd |
| Segments Covered | Tire Type, Rim Size, End-Use, Vehicle Type, Distribution Channel, Regional |
| Key Market Opportunities | ·      Electric vehicle penetration ·      Smart tires Off-roading traction systems ·      Sustainability drive Emerging markets |
| Key Market Dynamics | ·      Rising demand for electric two-wheelers ·      Growing adoption of tubeless tires ·      Increasing focus on sustainability ·      Technological advancements in tire design ·      Growing urbanization and infrastructure development |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Two Wheeler Tire Market is estimated to be worth 8.77 Billion USD in 2023.
The Two Wheeler Tire Market is expected to grow at a CAGR of 2.65% from 2024 to 2032.
Rising demand for two-wheelers in developing countries, increasing urbanization, and growing disposable income are some of the key factors driving the growth of the Two Wheeler Tire Market.
North America is expected to dominate the Two Wheeler Tire Market in 2032 due to the increasing demand for two-wheelers in countries like India and China.
Michelin, Bridgestone, MRF, CEAT, and Maxxis are some of the key competitors in the Two Wheeler Tire Market.
Two-wheeler tires are primarily used in motorcycles, scooters, and mopeds for transportation and recreational purposes.
Two-wheeler tires are available in various types, including radial tires, bias-ply tires, and tubeless tires, each with its own advantages and applications.
Factors such as the increasing number of two-wheeler vehicles, growing awareness of safety, and advancements in tire technology influence the demand for two-wheeler tires.
The Two Wheeler Tire Market faces challenges such as intense competition, fluctuating raw material prices, and stringent environmental regulations.
Growing demand in emerging markets, technological advancements, and the development of new tire materials present opportunities for growth in the Two Wheeler Tire Market.
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Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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