Asia-Pacific Motorcycle Tires Market Share, Revenue, Trends, Demand, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033


Asia-Pacific Motorcycle Tires Market Share, Revenue, Trends, Demand, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research

 Published: Jan-2024
 Author: SPER Analyst

Asia-Pacific Two-Wheeler Tire Market is projected to be worth USD 12.12 Billion by 2033 with a CAGR of 3.9%.

The term "two-wheeler tyre" describes a particular kind of tyre that is intended for two-wheeled vehicles, like bicycles, scooters, mopeds, and motorcycles. The performance, safety, and handling of two-wheeled vehicles are all directly impacted by these tyres, which are essential parts. Depending on the kind of vehicle and its intended purpose, two-wheeler tyres are available in a variety of sizes, tread patterns, and compositions. 

Asia-Pacific Two-Wheeler Tire Market Driving Factors and Challenges
Two-wheelers are a popular option for economical and effective transportation because of the region's fast urbanisation and growing population. The region's population growth, particularly in densely populated urban regions, is driving up demand for tyre replacements as more people choose to use motorbikes and scooters as their major form of transportation. This choice frequently results in regular wear and tear due to uneven road conditions. Another important driver is the growth of gig economies and e-commerce in the region, particularly in highly populated urban areas. Two-wheelers are used extensively by food delivery services, courier services and ride-sharing platforms; as a result of their high mileage and frequent use, these vehicles require frequent tyre replacements.

In the Asia-Pacific region, traffic congestion issues, as evidenced by Sapporo's ranking as the fourth most congested city globally, are prompting law enforcement to favor patrol motorcycles for swift emergency response. The shift towards electric mobility, supported by government initiatives and tax benefits, is driving the expansion of electric two-wheeler manufacturing units in APAC, including brands like Hero Electric and Piaggio. As manufacturing activities increase to meet regional demands, the need for tires is expected to rise significantly in the foreseeable future.

However, there is severe traffic congestion in many cities around the APAC area as a result of the rapid urbanisation and population growth. For example, the worst traffic is supposedly found in Bangkok, Thailand, which is detrimental to the city's development on all fronts—financial, social, and economic. Despite the Road Traffic Act's implementation in Thailand in 1980, the nation has a high rate of traffic rule infractions. Speeding, careless passing, and disobedience to the law are commonplace throughout Thailand. Road accidents that result in significant injuries, disability, or even fatalities are more likely as a result of this. The growth of the two-wheeler tyre market in Asia-Pacific may be adversely affected by this, leading to a shift from two-wheelers to four-wheelers.

Impact of COVID-19 on Asia-Pacific Two-Wheeler Tire Market
The Asia-Pacific Two-Wheeler Tyre Market was significantly impacted by the Covid-19 epidemic in the second quarter of 2020. In Asia Pacific, lockdowns led to a significant drop in the demand for two-wheeler tyres, even though the stringent regulations were required for health and safety. Manufacturers were forced to remove massive carryover stocks in the supply chain, which had a negative effect on Asia Pacific sales. The tyre business and Original Equipment Manufacturers (OEMs) are closely associated; nevertheless, not every OEM may be affected by the pandemic of viruses. Some respite for tyre manufacturing companies may be forthcoming due to the recent softening of carbon black prices and the generally benign raw material costs.

Asia-Pacific Two-Wheeler Tire Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Apollo Tyres Ltd, Bridgestone, CEAT Limited, Cheng Shin Rubber, Hangzhou Zhongce Rubber, JK Tyre & Industries Ltd., Michelin, MRF Limited, TVS Srichakra Limited., Others.

Asia-Pacific Two-Wheeler Tire Market Segmentation:

By Vehicle Type: Based on the Vehicle Type, Asia-Pacific Two-Wheeler Tire Market is segmented as; Motorcycle, Scooter/Moped.

By Type of Tire: Based on the Type of Tire, Asia-Pacific Two-Wheeler Tire Market is segmented as; Pneumatic Tire, Solid/Others (Advanced Tire).

By Fuel Type: Based on the Fuel Type, Asia-Pacific Two-Wheeler Tire Market is segmented as; Petrol, Electric.

By Rim Size: Based on the Rim Size, Asia-Pacific Two-Wheeler Tire Market is segmented as; Less than 10 Inches, 10–13 Inches, 14–17 Inches, 18–21 Inches, More than 21 Inches.

By Distribution Channel: Based on the Distribution Channel, Asia-Pacific Two-Wheeler Tire Market is segmented as; Aftermarket, OEM.

By Region: This research also includes data for China, India, Indonesia, Japan and rest of Asia Pacific.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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