Global two-wheeler tire market stood at around $ 13 billion in 2019 and is projected to surpass $ 20 billion by 2025
NEW YORK, Feb. 5, 2020 /PRNewswire/ --
Global Two-Wheeler Tire Market, By Vehicle Type (Motorcycle & Scooter/Moped), By Demand Category (OEM Vs Replacement), By Region (APAC, Europe & CIS, North America, South America, Middle East & Africa), Competition Forecast & Opportunities, 2015-2025
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Global two-wheeler tire market stood at around $ 13 billion in 2019 and is projected to surpass $ 20 billion by 2025.Growth in the market is led by rising two-wheeler sales, expanding two-wheeler fleet size and increasing per capita income across the globe.
Rise in demand for two-wheelers for personal transportation has stimulated two-wheeler production in emerging economies of Asia-Pacific, which in turn has also increased the OEM two-wheeler tire demand.
The global two-wheeler tire market is majorly dominated by Asia-Pacific, with India and China being the most prominent markets.Both of these countries account for the highest number of two-wheeler tire sales, globally, with their combined market share being well over 80% in the global two-wheeler tire market.
Another set of emerging market for two-wheeler tires include South East Asian countries such as Indonesia, Vietnam, etc. These countries enjoy the presence of major two-wheeler OEMs with large production capacities.
The global two-wheeler tire market is dominated by the tires for scooters/mopeds in 2019. High inclination towards scooters/mopeds is witnessed majorly in Asian countries such as India, China, Indonesia, etc., which supports the global demand for scooter/moped tires, and this trend is anticipated to continue during the forecast period. Contrarily, South America, North America and Africa market are dominated by demand for motorcycle tires as the regions witness higher preference for motorcycles as compared to scooters/mopeds.
Major companies operating in global two-wheeler tire market are expanding their dealer/distributor network as well as expanding their product portfolio with high-performance tires to meet the requirements of different driving conditions. Leading global players are also focusing on improving their radial tire technology for two-wheelers to tap the growing trend of radialization in two-wheeler tires.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
-- To assess the global demand for two-wheeler tires.
-- To analyze and forecast the global market size of two-wheeler tire market.
-- To classify and forecast global demand for two-wheeler tires on the basis of vehicle type, radial vs bias, demand category and region.
-- To identify drivers and challenges for the global two-wheeler tire market.
-- To identify market trends and development in global two-wheeler tire market.
-- To identify and analyze the profile of leading players involved in the global two-wheeler tire market.
Few of the leading companies operating in the global two-wheeler tire market include Hangzhou Zhongce Rubber CO., LTD., Giti Tire Pte. Ltd., MRF Limited, Apollo Tyres Ltd., CEAT Limited, JK Tyre & Industries Ltd., TVS Srichakra Limited, Cheng Shin Rubber Ind. Co., Ltd., Bridgestone Corporation, and Rinaldi S/A Industria de Pneumaticos, among others.
In order to perform the study, the analyst conducted primary as well as exhaustive secondary research.Initially, the analyst prepared an exhaustive list of two-wheeler tire companies and distributors currently operating in the two-wheeler tire business across the world.
Subsequently, the analyst conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, the analyst was able to include two-wheeler tire manufacturers which could not be identified due to the limitations of secondary research. The analyst examined service offerings, regional network, and regional presence of all major companies across the globe.
The analyst calculated the market size for global two-wheeler tire market using a bottom-up technique, wherein the value service data for different vehicle types was recorded as well as forecast for the future years. The analyst sourced these values from industry experts and company representatives, and externally validated through analyzing historical data of respective companies to arrive at the overall market size.
Multiple secondary sources such as directories, databases such as ACEM, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
-- Global two-wheeler tire manufacturers
-- Associations, organizations, forums and alliances related to two-wheeler tires
-- Government bodies such as regulating authorities and policy makers
-- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as two-wheeler tire importers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, global two-wheeler tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
-- Market Share, By Vehicle Type:
o Motorcycle
o Scooter/Moped
-- Market Share, By Demand Category:
o OEM
o Replacement
-- Market Share, By Region:
o Asia-Pacific
o Europe & CIS
o North America
o South America
o Middle East
o Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global two-wheeler tire market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
-- Detailed analysis and profiling of additional market players.
Read the full report: https://www.reportlinker.com/p05479824/?utm_source=PRN
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