Two-Wheeler Tire Sales Set to Cross $17 Billion by 2021
Growing
production of two-wheelers and continuously expanding two-wheeler fleet size to
drive global two-wheeler tire market through 2021
According to TechSci Research report, “Global Two-Wheeler Tire Market Forecast
and Opportunities, 2011 - 2021’’,
global two-wheeler tire market is forecast to surpass US$ 17 billion by 2021,
due to continuously rising demand for two-wheelers tires from replacement and
OEM segments, especially from Asia-Pacific. Production of two-wheelers
increased in Asia-Pacific and crossed 70 million units in 2015. Moreover,
growing issues associated with traffic congestion and rising preference for
two-wheelers over four wheelers are anticipated to boost growth in global
two-wheeler tire market through 2021.
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Two-Wheeler Tire Market" https://www.techsciresearch.com/report/global-two-wheeler-tire-market/3110.html
In 2015, motorcycle tire
segment dominated global two-wheeler tire market owing to growing inclination
towards purchasing motorcycles by younger generation, easy maneuverability and
growing demand for premium motorcycles. Asia-Pacific accounted for a lion’s
share in global two-wheeler tire market in 2015, owing to expanding two-wheeler
fleet size and growing two-wheeler sales in the region. Moreover, increasing
trend of using two-wheeler taxis and relatively lower disposable income of
people in Asia-Pacific are anticipated to drive demand for two-wheelers and
two-wheeler tires in the region in the coming years. Few of the leading global
two-wheeler tire manufacturers include Hangzhou Zhongce Rubber Co., Ltd., Giti
Tire Pte. Ltd., MRF Limited and JK Tyre & Industries Ltd.
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“Rising demand for
two-wheeler tires across the globe can also be attributed to rapidly increasing
demand for electric and hybrid two-wheeler vehicles and increasing availability
of two-wheeler tires through online sales channels. Moreover, governments across
various countries have taken several initiatives to promote use of electric and
hybrid motorcycles. Additionally, growing sales for premium motorcycles across
various countries is expected to boost demand for high performance tires from
the motorcycle segment. This trend is anticipated to augur well for the global
two-wheeler tire market through 2021.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Two-Wheeler Tire Market
Forecast and Opportunities, 2011 - 2021” has analyzed the potential of global
two-wheeler tire market, and provides information and statistics on market
structure and trends. The report intends in providing intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. The report also identifies and analyzes emerging trends along with
essential drivers and key challenges faced by global two-wheeler tire market.
About TechSci Research
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