Global Two Wheeler Tires Market Overview:
As per MRFR analysis, the Two Wheeler Tires Market Size was estimated at 9.43 (USD Billion) in 2022. The Two Wheeler Tires Market Industry is expected to grow from 10.37 (USD Billion) in 2023 to 24.3 (USD Billion) by 2032. The Two Wheeler Tires Market CAGR (growth rate) is expected to be around 9.93% during the forecast period (2024 - 2032).
Key Two Wheeler Tires Market Trends Highlighted
Key market incomes and the global two-wheeler tires market include rising urbanization, growing disposable incomes, and increasing demand for personal transportation. Opportunities for market growth lie in the expansion of electric two-wheelers, advancements in tire technology, and the growth of online distribution channels.
Recent trends in the market include the adoption of tubeless tires, the use of silica-based compounds for improved traction and fuel efficiency, and the integration of smart sensors for real-time tire performance monitoring. The increasing popularity of adventure and off-road riding is also driving demand for specialized tires designed for these applications. Furthermore, manufacturers are focusing on sustainable practices, such as the use of recycled materials and the development of eco-friendly tire compounds.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Two Wheeler Tires Market Drivers
Rising Demand for Two-Wheelers in Developing Countries
The substantial growth in demand for two-wheelers in countries on the way of development is the principal driver of the expansion of the Two Wheeler Tires Market Industry. Both the increase in disposable income for the population and developing prospects for their use of two-wheelers make this type of transportation more and more widespread in Asia and Africa.
Factors such as expanding population and urbanization, as well as enhancing road-buildings coupled with diversification of uses of two-wheelers, ranging from general traveling to spare-time activities, cause the expected ongoing growth of this mode of transportation.Notably, some of the biggest world markets for two-wheelers are present in Asia-Pacific and Africa. Such an expected increase in demand presents a vast opportunity for tire manufacturers working in the two-wheeler segment.
Technological Advancements and Innovation
Technological advancements and innovation are playing a crucial role in driving the growth of the Two Wheeler Tires Market Industry. Tire manufacturers are constantly innovating to develop new and improved tire designs, compounds, and technologies. These advancements are aimed at enhancing tire performance, safety, and durability. For instance, the development of tubeless tires has significantly improved puncture resistance and reduced the risk of blowouts. Similarly, the introduction of silica-based compounds has led to improved traction and lower rolling resistance. These technological advancements are not only enhancing the overall riding experience but also contributing to the growing popularity of two-wheelers.
Increasing Focus on Safety and Regulations
The increasing focus on safety and regulations is another key driver of growth for the Two Wheeler Tires Market Industry. Governments worldwide are implementing stricter safety regulations for two-wheelers, which is leading to a growing demand for high-quality and safety-compliant tires. These regulations are aimed at reducing the number of accidents and fatalities involving two-wheelers. As a result, tire manufacturers are focusing on developing tires that meet or exceed these safety standards. Additionally, the growing awareness among consumers about the importance of tire safety is also contributing to the demand for high-quality tires.
Two Wheeler Tires Market Segment Insights:
Two Wheeler Tires Market Tire Type Insights
The Two Wheeler Tires Market is segmented by Tire Type as Bias Tires, Radial Tires, Tubeless Tires, and Tube-Type Tires. The Radial Tires segment dominated the market in 2023, with a revenue share close to 55%. Consumers are increasingly adopting Radial Tires because the segment offers high performance and is fuel-efficient. Additionally, the growth momentum of the Radial Tire segment is expected to accelerate during the forecast period. Bias Tires generated a substantial market share in terms of revenue, and this segment is expected to grow at a steady pace in the coming years.
The overall demand for Bias Tires is increasing because there is a growing affinity toward vintage and classic motorcycles. Tubeless Tires is another growing segment in the market. Consumers have realized that these tires can guard against punctures besides offering better road grip. The segment is expected to grow by a CAGR of close to 8.5% during the forecast period. The Tube-Type Tires market has declined and is expected to face zero to minimal demand during the forecast period. The growth of the Two Wheeler Tires market is driven by the increase in the production and sales of two-wheelers worldwide.
The rise in disposable incomes and the increase in urbanization in developing nations will play a critical role in market growth. The stringent environmental regulations by governments globally to promote green transport will also be instrumental in the market growth as the demand for fuel-efficient tires will increase.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Two Wheeler Tires Market Vehicle Type Insights
The Two Wheeler Tires Market is segmented into Scooters, Motorcycles, Performance Motorcycles, and Off-Road Motorcycles. Two-wheelers are further classified into Scooters, Motorcycles, Performance Motorcycles, and Off-Road Motorcycles. Scooters held the largest market share in 2023, followed by motorcycles. The Two Wheeler Tires Market for Scooters is estimated to be valued at USD 6.5 billion in 2023 and is projected to reach USD 12.2 billion by 2032, growing at a CAGR of 9.1% from 2024 to 2032. The growth of the scooter segment can be attributed to the increasing popularity of scooters as a convenient and fuel-efficient mode of transportation, particularly in developing countries.
Motorcycles are the second-largest segment in the Two Wheeler Tires Market and are expected to grow at a CAGR of 9.5% from 2024 to 2032. Performance Motorcycles and Off-Road Motorcycles are niche segments in the Two Wheeler Tires Market but are expected to witness significant growth in the coming years due to the increasing popularity of these types of motorcycles among enthusiasts and adventure seekers.
Two Wheeler Tires Market Performance Attribute Insights
The Performance Attribute segment of the Two Wheeler Tires Market is expected to grow significantly over the forecast period, driven by increasing demand for tires that offer improved fuel efficiency, wet grip, dry grip, ride comfort, and durability. Fuel Efficiency: Fuel-efficient tires are designed to reduce rolling resistance, which can help to improve fuel economy. As fuel prices continue to rise, demand for fuel-efficient tires is expected to increase. Wet Grip: Wet grip is important for maintaining control of a two-wheeler in wet conditions.
Tires with a good wet grip can help to prevent skidding and accidents. Dry Grip: Dry grip is important for maintaining control of a two-wheeler in dry conditions. Tires with a good dry grip can help to improve handling and stability. Ride Comfort: Ride comfort is important for two-wheeler riders who spend long hours on the road. Tires with good ride comfort can help to reduce vibration and fatigue. Durability: Durable tires last longer and can help to reduce the cost of ownership for two-wheeler riders. Tires with good durability can withstand wear and tear and can last for several years.
The Two Wheeler Tires Market is segmented into various sub-segments based on performance attributes, such as fuel efficiency, wet grip, dry grip, ride comfort, and durability. According to Two Wheeler Tires Market data, the fuel efficiency segment is expected to account for the largest share of the market in 2024, followed by the wet grip segment. The dry grip segment is expected to grow at the fastest rate over the forecast period.
Two Wheeler Tires Market Tire Size Insights
The Tire Size segment plays a crucial role in driving the Two Wheeler Tires Market revenue, as different tire sizes cater to specific vehicle types and usage scenarios. Small Tires (10 inches) are widely used in mopeds and scooters, which are popular in urban areas due to their maneuverability and fuel efficiency. Medium Tires (10-13 inches) are commonly found on motorcycles and scooters with larger engines, offering a balance between handling and stability. Large Tires (>13 inches) are primarily used in high-performance motorcycles, providing enhanced grip and stability at higher speeds.
The Two Wheeler Tires Market segmentation by Tire Size enables manufacturers to target specific customer segments and develop products that meet their unique requirements. This granular data helps industry stakeholders make informed decisions and capitalize on growth opportunities in this dynamic market.
Two Wheeler Tires Market Application Insights
The application segment of the global two-wheeler tires market is categorized into commuting, racing, off-roading, and heavy duty. Commuting tires hold the largest market share due to the high demand for two-wheelers for daily transportation. Racing tires are designed for high-performance motorcycles used in competitive events and contribute significantly to market growth. Off-roading tires are gaining popularity as an adventure, and off-road riding become more prevalent, driving market expansion. Heavy-duty tires are used on commercial two-wheelers and are expected to witness steady growth due to the increasing demand for delivery and logistics services.
The Two Wheeler Tires Market segmentation provides valuable insights into the varying needs and preferences of different user groups, enabling manufacturers to tailor their product offerings accordingly. This data empowers businesses to make informed decisions and capitalize on emerging opportunities within the rapidly evolving two-wheeler tires industry.
Two Wheeler Tires Market Regional Insights
The Two Wheeler Tires Market segmentation by region includes North America, Europe, APAC, South America, and MEA. APAC is expected to dominate the market with a revenue of 12.7 billion USD by 2024, owing to the increasing demand for two-wheelers in countries like India and China. Europe is expected to follow, with a market value of 5.3 billion USD by 2024, due to the presence of major manufacturers like Michelin and Pirelli.
North America is expected to hold a market value of 4.8 billion USD by 2024, driven by rising consumer preference for premium and high-performance tires. South America and MEA are expected to have a combined market value of 2.7 billion USD by 2024, with growing demand from emerging markets.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Two Wheeler Tires Market Key Players and Competitive Insights:
Major players in the Two Wheeler Tires Market industry are continuously investing in research and development to introduce innovative products that cater to the evolving needs of consumers. Leading Two Wheeler Tires Market players are focusing on expanding their global footprint through strategic partnerships and acquisitions. The Two Wheeler Tires Market development is driven by the increasing demand for two-wheelers in emerging economies, coupled with the growing popularity of electric vehicles. The competitive landscape of the Two Wheeler Tires Market is characterized by the presence of both established and emerging players. Michelin is a leading player in the Two Wheeler Tires Market industry, with a strong focus on innovation and technology.
The company offers a wide range of tires for various two-wheeler segments, including motorcycles, scooters, and mopeds. Michelin has a global presence and operates in over 170 countries. The company's commitment to quality and performance has made it a preferred choice for consumers worldwide. Michelin is continuously investing in research and development to enhance the performance and safety of its tires. Bridgestone is a major competitor in the Two Wheeler Tires Market.
The company has a rich history of over 100 years in the tire industry and is known for its high-quality products. Bridgestone offers a comprehensive range of tires for motorcycles, scooters, and bicycles. The company has a strong presence in Asia-Pacific, Europe, and the Americas. Bridgestone focuses on providing its customers with superior products and services, and it has a dedicated team of engineers and technicians working to develop innovative solutions.
Key Companies in the Two Wheeler Tires Market Include:
- Innova Tire Corp.
- Metzeler
- Continental AG
- MRF
- Bridgestone
- Cheng Shin Rubber
- Dunlop (Japan)
- Maxxis
- Pirelli C.S.p.A.
- TVS Srichakra
- Ceat
- Goodyear Tire Rubber Co
- Michelin
- Kenda Rubber Industrial
- Shinko Tire
Two Wheeler Tires Market Industry Developments
The Two Wheeler Tires Market is anticipated to reach a valuation of USD 24.3 billion by 2032, exhibiting a CAGR of 9.93% from 2024 to 2032. Increasing sales of two-wheelers, particularly in developing economies, are driving market expansion. Moreover, rising consumer preference for premium and branded tires, coupled with growing safety concerns, contributes to the market's growth. Recent advancements in tire technology, such as the development of puncture-resistant and self-sealing tires, are also fueling demand.
Additionally, government regulations mandating the use of high-quality tires and increasing investment in infrastructure projects are expected to propel the market forward. Notable developments include Michelin's launch of the MICHELIN City Grip 2 tire, designed for enhanced grip and durability, and CEAT's introduction of the Gripp X3 tire, catering to the growing demand for off-road tires.
Two Wheeler Tires Market Segmentation Insights
Two Wheeler Tires Market Tire Type Outlook
-
- Bias Tires
- Radial Tires
- Tubeless Tires
- Tube-Type Tires
Two Wheeler Tires Market Vehicle Type Outlook
-
- Scooters
- Motorcycles
- Performance Motorcycles
- Off-Road Motorcycles
Two Wheeler Tires Market Performance Attribute Outlook
-
- Fuel Efficiency
- Wet Grip
- Dry Grip
- Ride Comfort
- Durability
Two Wheeler Tires Market Tire Size Outlook
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- Small Tires (10 inches)
- Medium Tires (10-13 inches)
- Large Tires (>13 inches)
Two Wheeler Tires Market Application Outlook
-
- Commuting
- Racing
- Off-Roading
- Heavy Duty
Two Wheeler Tires Market Regional Outlook
-
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
9.43 (USD Billion) |
| Market Size 2023 |
10.37 (USD Billion) |
| Market Size 2032 |
24.3 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
9.93% (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 |
Innova Tire Corp., Metzeler, Continental AG, MRF, Bridgestone, Cheng Shin Rubber, Dunlop (Japan), Maxxis, Pirelli C.S.p.A., TVS Srichakra, Ceat, Goodyear Tire Rubber Co, Michelin, Kenda Rubber Industrial, Shinko Tire |
| Segments Covered |
Tire Type, Vehicle Type, Performance Attribute, Tire Size, Application, Regional |
| Key Market Opportunities |
Growing popularity of electric two-wheelers Increasing demand for offroad tires Rising adoption of performance-oriented tires Growing focus on safety and comfort Expanding presence in emerging markets |
| Key Market Dynamics |
Shift towards Electric Vehicles Technological Advancements Growing Demand for Off-Road Capabilities Focus on Sustainability and Environmental Regulations Increasing Popularity of Two-wheelers in Developing Regions |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global two-wheeler tires market was valued at USD 10.37 billion in 2023 and is projected to reach USD 24.3 billion by 2032, exhibiting a CAGR of 9.93% during the forecast period.
The Asia-Pacific region is expected to dominate the global two-wheeler tires market due to the increasing demand for two-wheelers in countries like India, China, and Indonesia.
The key drivers of the global two-wheeler tires market include rising disposable income, increasing urbanization, and growing demand for fuel-efficient and environmentally friendly vehicles.
Two-wheeler tires are primarily used in motorcycles, scooters, and mopeds. They provide traction, stability, and comfort to the rider.
Some of the key competitors in the global two-wheeler tires market include Michelin, Bridgestone, MRF, CEAT, and Continental.
The growth opportunities in the global two-wheeler tires market include the increasing adoption of electric two-wheelers, rising demand for replacement tires, and the expansion of the aftermarket.
The challenges faced by the global two-wheeler tires market include fluctuating raw material prices, intense competition, and stringent government regulations.
The global two-wheeler tires market is expected to grow at a CAGR of 9.93% from 2024 to 2032.
Some of the key trends in the global two-wheeler tires market include the increasing popularity of tubeless tires, the adoption of advanced tire technologies, and the growing demand for sustainable tires.
The COVID-19 pandemic had a negative impact on the global two-wheeler tires market in the short term due to the disruption of supply chains and the decline in demand for two-wheelers. However, the market is expected to recover in the long term as the pandemic subsides and economic activity resumes.
