Asia-Pacific Two-Wheeler Tire Market Overview:
According to MarkNtel Advisors study the Asia-Pacific Two-Wheeler Tire Market size was valued at around USD 10.16 billion in 2022 and is estimated to grow at a CAGR of around 7.39% during the forecast period, i.e., 2024-30. The region’s rapid urbanization and burgeoning population continue to fuel the need for affordable and efficient transportation options, with Two-Wheelers being a popular choice. This demographic expansion, especially in densely populated urban areas, of the region propels the demand for tire replacements as more individuals opt for motorcycles and scooters as their primary mode of transport, which often leads to frequent wear and tear as a result of uneven road conditions.
Key Findings of the Study: Asia-Pacific Two-Wheeler Tire market
Asia-Pacific Two-Wheeler Tire Market Trend:
Increasing Inclination Towards Sustainable Two-Wheeler Tires – The continuous increase in CO2 emissions in the region, specifically across China, and India, as a result of the surging accumulation of on-road vehicles has led to an increased focus of the regional governments on boosting initiatives toward reducing these emissions to ensure sustainability. Owing to this, both the governments of the Asia-Pacific region and the Two-Wheeler manufacturers such as Honda, Yamaha, Suzuki, etc. are turning towards adopting sustainable tires.
Witnessing the surging demand for sustainable tires, tire manufacturing companies like Nexen Tires, Linglong Tires, etc., are launching their sustainable product portfolios in the region to gain an emerging revenue opportunity. For instance, in 2022, Nexen Tires unveiled its sustainable material-based tires. These sustainable Two-Wheeler tires tend to improve energy efficiency & reduce fuel consumption since they are designed with lower rolling resistance, which requires less energy to move the vehicle forward.
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Scope of the Asia-Pacific Two-Wheeler Tire Market Report Segmentation
-By Vehicle Type
- Scooter and Moped- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Motorcycle- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-By Tire Size
- 140/70-17- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- 80/90-14- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- 90/90-14- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- 80/90-17- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Others (70/90-17, 110/70-17 etc.)- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-By Tire Type
- Radial- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Bias – Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-By Price Category
- Budget (Upto USD 10)- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Economy (USD 11- USD 30) – Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Premium (Above USD 31)- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-By Sales Channel
- Online- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Direct Sales – Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Multi Brand Stores- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Exclusive Outlets- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-By Demand Type
- OEM- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Aftermarket – Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
For more detailed information about the Asia-Pacific Two-Wheeler Tire market report, click here – https://www.marknteladvisors.com/research-library/apac-two-wheeler-tire-market.html
Geographical analysis:
-By Country
- China
- India
- Japan
- Malaysia
- Indonesia
- Singapore
- Cambodia
- Vietnam
- Thailand
- Philippines
- Australia
- New Zealand
- South Korea
- Rest of Asia-Pacific
China is witnessing a substantial growth rate in the region. China’s rapid urbanization has led to an increase in personal mobility, with more individuals opting for Two-Wheelers as a convenient and cost-effective mode of transportation in congested city environments. This trend is further fueled by the growing middle-class population’s appetite for affordable personal transportation options. Moreover, the growing adoption of Two-Wheelers by ride-hailing & quick-delivery service providers such as Meituan Dianping, Qdigo, etc., has been augmenting the sales of the Two-Wheelers in China.
Asia-Pacific Two-Wheeler Tire Industry Recent Development:
- 2022: Bridgestone Tyres approved plans to strengthen investments in its natural rubber plantations in Southeast Asia. The company plans to invest around USD 26.7 million by 2030 to ensure a sustainable supply of natural rubber for tire production.
- 2022: Maxxis International, received an increased funding by around USD 30 million from Cheng Shin Rubber to meet the operation’s needs across the region.
Current Landscape of Asia-Pacific Two-Wheeler Tire Market
The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Asia-Pacific Two-Wheeler Tire market. The research report profiles major players, including
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- MRF Tyres
- Bridgestone Tyres
- Continental Tires
- CEAT Tyres
- Apollo Tyres
- TVS Eurogrip
- Pirelli Tires
- JK Tyre
- Compagnie Générale des Établissements Michelin SCA
- Maxxis Tyres
- Camel Industries Co. Ltd.
- Inoue Rubber Co. Ltd. (IRC Tires)
- Heidenau Tyres
- Others
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