MarkNtel Advisors recently published a detailed industry analysis of the Asia-Pacific Two-Wheeler Tire Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Asia-Pacific Two-Wheeler Tire Market (2024-2030)
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.
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What is driving the Asia-Pacific Two-Wheeler Tire Market?
Growing Penetration of Two-Wheelers in Shared Mobility Services – In the Asia-Pacific region, the number of students that commute regularly has been constantly growing due to favorable government policies such as easy visa clearance & student exchange programs to attract foreign students for higher studies. For instance, in 2021, Australia welcomed nearly 572,349 international students, which reached approximately 619,371 in 2022, according to the Ministry of Education. These students have been observed to prefer to hire Two-Wheeler shared & rental services, as scooters & bikes are ideal options to avoid city congestion & save costs.
Observing this enhanced demand for Two-Wheelers among students, ride-hailing companies such as Lime, Ola, etc., have expanded across the region in the past few years. Thus, the enhanced deployment of Two-Wheelers on the roads of Asia-Pacific countries is generating demand for tire replacement.
Also, several countries across the region, like New Zealand, India, etc., have been focusing on increasing the number of tourist arrivals across their countries. This has enhanced the inclination of shared mobility companies to expand their services across the region to cater to these customers. Consequently, this would upscale the usage of Two-Wheelers across the region, which would lead to enhancing the demand for Two-Wheeler tires for replacement purposes in the forthcoming years as well. For instance,
- In 2021, Carlyle announced to invest USD200 Million in Kakoo Mobility in South Korea to provides a wide range of mobility services through its Kakao T mobile-app platform including, electric bike hire, parking, and navigation.
What segments define the Asia-Pacific Two-Wheeler Tire Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Vehicle Type
(Scooter and Moped, Motorcycle),
By Tire Size
(140/70-17, 80/90-14, 90/90-14, 80/90-17, Others),
By Tire Type
(Radial, Bias),
By Price Category
(Budget, Economy, Premium),
By Sales Channel
(Online, Direct Sales, Multi Brand Stores, Exclusive Outlets),
By Demand Type
(OEM, Aftermarket)
By Country
(China, India, Japan, Malaysia, Indonesia, Singapore, Cambodia, Vietnam, Thailand, Philippines, Australia, New Zealand, South Korea, Rest of Asia-Pacific)
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Who are the leading key players shaping the Asia-Pacific Two-Wheeler Tire Market landscape?
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 Ltd., Inoue Rubber Co. Ltd. (IRC Tires), Heindenau Tyres, and others
Questions Addressed in this Study
1.What factors are driving the Asia-Pacific Two-Wheeler Tire Market growth?
2.How is the Asia-Pacific Two-Wheeler Tire Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Asia-Pacific Two-Wheeler Tire Market?
4.What is the current size of the Asia-Pacific Two-Wheeler Tire Market, and how is it projected to change in the future?
6.What is the future outlook for the Asia-Pacific Two-Wheeler Tire Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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