Two-Wheeler Tire Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type (Motorcycle & Scooter/Moped), By Demand Category (OEM & Replacement), By Regional, By Competition 2019-2029
Published Date: March - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request Customization| Forecast Period | 2025-2029 |
| Market Size (2023) | USD 18.95 Billion |
| CAGR (2024-2029) | 5.71% |
| Fastest Growing Segment | Motorcycle |
| Largest Market | Asia-Pacific |
| Market Size (2029) | USD 26.36 Billion |
Market Overview
Global Two-Wheeler Tire Market valued at USD 18.95 Billion in 2023 and expected to reach USD 26.36 Billion by the year 2029, growing at a CAGR of 5.71% from 2024-2029.
This resulted in an increase in the sale of two-wheelers and thus increased demand for their related tires. Concerns over the environment and the drive towards a greener mode of transport have also influenced the two-wheeler tire market. Both governments and consumers are concerned with lowering carbon emissions and encouraging greener ways of travel. In response, manufacturers are creating tires that are more fuel efficient and reduce the entire carbon footprint of two-wheelers. This convergence on sustainability has helped the market expand as more green-conscious consumers switch to two-wheelers over traditional cars. Moreover, improving disposable incomes among emerging economies have increased affordability and accessibility to two-wheelers, leading to higher adoption. This financial empowerment, combined with the convenience of maneuverability provided by two-wheelers in heavy traffic areas, has driven the demand for these vehicles and accordingly their tires.
The aftermarket segment also plays a decisive role in the growth of the two-wheeler tire market. With the expanding fleet of two-wheelers, replacement tires are needed. Seasonal variations, wear and tear, and replacing old tires with new, better-performance tires account for consistent demand in the aftermarket. This opens up a platform for tire suppliers and manufacturers to provide a plethora of products matching various consumer requirements and tastes. In summary, the Global Two-Wheeler Tire Market is experiencing strong growth fueled by urbanization, eco-awareness, economic growth, and aftermarket demand. These collectively emphasize the significance of two-wheeler tires in modern mobility and offer opportunities for innovation and market growth in the industry.
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Key Market Drivers
Urbanization and Changing Transportation Landscape
A primary driver behind the growth of the Global Two-Wheeler Tire Market is the ongoing process of urbanization. As cities expand and populations concentrate in urban areas, the need for efficient, cost-effective, and agile transportation options becomes more pronounced. Two-wheelers have emerged as a viable solution to navigate through congested traffic, limited parking spaces, and the overall challenges posed by urban commuting. In densely populated urban centers, where traffic congestion is a major concern, two-wheelers offer the advantage of maneuverability, enabling commuters to reach their destinations more quickly. This aspect has led to an increased preference for two-wheelers, consequently driving up the demand for their tires.
Environmental Awareness and Sustainable Transportation
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Economic Empowerment and Rising Disposable Incomes
Aftermarket Demand and Replacement Cycles
Technological Advancements and Performance Enhancement
Infrastructure Development and Government Initiatives
Government initiatives aimed at promoting two-wheeler usage have also bolstered the market. In many regions, governments have launched campaigns to encourage the adoption of two-wheelers as a means to reduce traffic congestion and curb pollution. Infrastructure development projects such as dedicated bike lanes and parking spaces for two-wheelers have further incentivized their use. These initiatives create a favorable environment for the growth of the two-wheeler market and, by extension, the demand for two-wheeler tires.
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Key Market Challenges
Safety and Performance Concerns
Counterfeit and Substandard Tires
The proliferation of counterfeit and substandard tires poses a serious challenge to the Global Two-Wheeler Tire Market. These products, often sold at lower prices, compromise on quality and safety. Riders who unknowingly purchase counterfeit tires may face increased risks of accidents, reduced performance, and shorter lifespans of the tires. This challenge necessitates greater regulatory oversight, consumer education, and stringent measures to combat the production and sale of such tires.
Environmental Sustainability
Noise Pollution
Regulatory Compliance and Standards
Price Volatility of Raw Materials
Competitive Market Landscape
Evolving Consumer Preferences
Technological Complexities
Infrastructure and Government Policies
Key Market Trends
Electric Mobility Revolution
Smart and Connected Tires
Sustainability and Eco-Friendly Tires
Customization and Performance Enhancement
Ride-Sharing and Last-Mile Delivery
Online Sales and E-Commerce
Regulation and Safety Standards
Emerging Markets and Urbanization
Focus on Comfort and Noise Reduction
Cross-Category Tires and Versatility
Tire manufacturers are exploring cross-category tires that can perform well across different types of two-wheelers. This versatility caters to riders who own multiple types of vehicles or prefer the flexibility of a single tire that can handle various terrains. Versatile tires offer a balance between on-road and off-road performance, expanding the range of riding experiences.
Segmental Insights
Vehicle Type Insights
The worldwide market for two-wheeler tires is widely divided into motorcycles, scooters and moped tires. The motorcycling market leads the sector, fueled by different categories of motorcycles such as superbikes and sports motorcycles that drive the market for high-performance tires. Such motorcycles, owing to their superior engines and higher-end features, need tires capable of delivering remarkable grip, stability, and strength. Conversely, the scooter market is undergoing tremendous growth on account of the growing demand for maneuverability and fuel efficiency within urban landscapes. With growing traffic congestion and a requirement to conveniently navigate through constricted streets, scooters are gaining popularity as a means of commuting. Therefore, demand for scooter tires that are particularly developed to provide superb handling and fuel efficiency has seen a remarkable rise. Even if a smaller segment, mopeds still enjoy stable demand in specific areas. Mopeds are famous for their affordability and for short-distance commutes. They offer a low-cost means of transport and are commonly preferred for daily commutes or short journeys within cities.
The two-wheeler tire industry is fueled by the varied needs and desires of moped, scooter, and motorcycle riders. The manufacturers are continually developing new products to address the unique needs of each segment, so riders can experience the best performance, safety, and comfort on their two-wheeled rides.
Regional Insights
The world market for two-wheeler tires is thoroughly divided regionwise into North America, Europe & CIS, Asia-Pacific, South America, and the Middle East & Africa. Of these,
The Asia-Pacific region leads the world market for two-wheeler tires due to a number of significant factors. The quick urbanization, growing middle class, and rising disposable incomes of the region are the major contributors towards escalating demand for two-wheelers, which further supports tire sales. In addition, the Asia-Pacific region enjoys a robust manufacturing base, with many production plants serving both domestic and global markets. India and China, which are countries in this region, are among the key drivers of the high number of two-wheeler sales because of their huge populations and need for affordable means of transport. Growth in public transport networks and increased investment in infrastructure also drive tire demand. Moreover, the region's increasing emphasis on technological innovation and advancements in tire production increases performance and safety, drawing customers and maintaining market growth. Overall, the Asia-Pacific region's high sales volume, large production capacity, and dynamic market conditions make it the leading and most influential region in the global two-wheeler tire market.
Recent Developments
- In 2023, Michelin launched a new series of motorcycle tires in January 2024. These tires were recently unveiled at the EICMA trade show in Milan, Italy. The Michelin Power 6 is designed to meet the needs of a wide range of sports motorcycle riders, offering a blend of sportiness and comfort. According to Michelin, this tire provides excellent performance for both everyday commuting and long-distance travel, with impressive grip in both dry and wet conditions. The Power 6 is noted for its superior handling and sporty feel. It is available in multiple sizes, suitable for motorcycles with engines over 300cc, and has already been approved for the 2024 KTM 390 Duke.
- In January 2024, CEAT Ltd, a tire manufacturer, entered the steel radial tire market for two-wheelers with the goal of strengthening its leadership in the two-wheeler tire sector and elevating its brand image. The company recently introduced a new premium line of steel radial tires for two-wheelers, aiming to serve both the aftermarket and original equipment manufacturer (OEM) markets.
- In January 2024, Ceat introduced its new range of steel radial tires in India, featuring the Sportrad and Crossrad models. These premium tires are engineered for high-performance motorcycles, with the Sportrad series optimized for high-speed and cornering capabilities, while the Crossrad series is designed for versatile terrain use. Both series utilize a steel-belted radial construction to enhance handling at high speeds. The Crossrad tires are suitable for motorcycles like the Yamaha FZ Series and Suzuki Gixxer Series, and are priced at Rs 4,300 per set. On the other hand, the Sportrad tires cater to models such as the KTM RC390, Duke 390, Bajaj Dominar 400, and TVS Apache RR310, with a set priced at Rs 12,500.
Key Market Players
- Bridgestone Corporation
- Michelin Group
- Continental AG
- Pirelli & C. S.p.A.
- MRF Limited
- CEAT Ltd
- Goodyear Tire and RubberCompany
- JK Tyre & Industries Ltd.
- Cooper Tire & RubberCompany
- Kenda Rubber Industrial Co.Ltd.
|
By Vehicle Type |
By Demand Category |
By Region |
|
Motorcycle Scooter/Moped |
OEM Replacement |
North America Europe & CIS Asia Pacific South America Middle East & Africa |
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