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Two Wheeler Tire Market by Type (Motorcycle, and Scooter/Moped), Sales Channel (OEM, and Replacement): Global Opportunity Analysis and Industry Forecast, 2021 - 2027
| A10757 | Pages: NA | Jun 2021 | 76 Views | | |
| Author(s) : NA | Tables: NA | Charts: NA | Formats*: | |
COVID-19
Pandemic disrupted the entire world and affected many industries.
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The two-wheeler tires are crucial functional elements for the transmission of all forces between the bike and road. The tire properties should be as constant as possible and hence predictable by the rider. However, the aftermarket tires usually differ from the original tires, despite their similar designation. Hence, handling characteristics can change with the passage of time. The forces that occur between the ground and the tires determine so much the behavior of machines that they are so often taken for granted. The tire performs such a multitude of different tasks and their apparent simplicity hides the degree of engineering sophistication that goes into their design and fabrication. Initially, pneumatic tires were fitted to improve comfort and reduce loads on the wheels. Even with modern suspension systems, it is still the tires that provide the first line of defense for absorbing road shocks. Rise in adoption of two-wheeler vehicles across the globe is expected to boost the two-wheeler tire market in the forecast period.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value (USD) |
Segments covered | Types, and Sales Channel |
Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa) |
Companies covered | 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. |
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COVID-19 scenario analysis:
- The second quarter was strongly impacted by the COVID-19 pandemic, while the wide-ranging restrictions have been necessary for health and safety reasons, lockdowns have led to a sharp drop in the global car and tire demand.
- Lockdown measure negatively impacted the global sales, as manufacturers had to reduce high carryover stocks in the distribution channel.
- The tires industry is directly connected with the Original Equipment Manufacturers (OEM) but not all OEMs may get affected due to the virus epidemic.
- The raw material prices have overall been benign of late as the rates of carbon black have also softened recently, which may lead to some relief in the coming times for tire manufacturing companies.
- Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied and the tire industry may get out of it soon as compared to others.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost the market include increasing automation and growing safety & security concerns that are expected to spur the demand over the forecast period. However, the growing use of self-healing technology is anticipated to hamper the growth of the market. Furthermore, enhancing advancement in technology and design coupled with increasing the distance covered by the type is expected to offer lucrative opportunities for the market.
The two-wheeler tires market trends are as follows:
Increasing automation
High-performance equipment has seen significant growth over the past decade in almost every industry. In addition, in every developing economy, urbanization is growing at a rapid pace and will lead to the harvesting of more forests as well as the clearing of space for constructional activities. Hence, this will spur the demand for equipment such as two-wheeler tires in the forecast period.
Growing safety and security concerns
The increasing awareness among the customers across the globe has forced manufacturers to provide various security features to increase their sales and maintain their position in the market. Also, the government of almost every country is providing new rules and regulations to enhance the safety and security of passengers while traveling, which will further grow the two-wheeler tires market in the forecast period.
Key segments covered:
Segments | Sub-segments |
Type |
|
Sales Channel |
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Key benefits of the report:
- This study presents the analytical depiction of the two-wheeler tire market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the two-wheeler tire market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the two-wheeler tire market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed two-wheeler tire market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the two-wheeler tire market research report:
- What are the leading market players active in the two-wheeler tire market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
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