Asia-Pacific Two-Wheeler Tire Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The Global Asia-Pacific Two-Wheeler Tire Market 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.
Markntel Advisor’s Asia-Pacific Two-Wheeler Tire Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Asia-Pacific Two-Wheeler Tire Market drivers, barriers, Asia-Pacific Two-Wheeler Tire Market Trends, and Key Players in Asia-Pacific Two-Wheeler Tire Market.
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Asia-Pacific Two-Wheeler Tire Market Dynamics: 2024-2030
Asia-Pacific Two-Wheeler Tire Market Driver:
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.
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Asia-Pacific Two-Wheeler Tire Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- 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)
According to report, The aftermarket segment is anticipated to hold a substantial share of the market.
- By Vehicle Type
- Scooter and Moped- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Electric
- Upto 100CC – Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- 101 cc to 125 cc- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- 126 cc to 150 cc- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Above 150 cc- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Motorcycle- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Electric
- Upto 100CC- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- 101 cc to 125 cc- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- 126 cc to 150 cc- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
- Above 150 cc- 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)
- Scooter and Moped- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
According to report, The budget and economy-type tires are anticipated to hold a dominant position in the market.
By Region
- China
- India
- Japan
- Malaysia
- Indonesia
- Singapore
- Cambodia
- Vietnam
- Thailand
- Philippines
- Australia
- New Zealand
- South Korea
- Rest of Asia-Pacific
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Top Companies Operating in the Asia-Pacific Two-Wheeler Tire Market:
- 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
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