Two-wheeler Tires Market Size - By Tire, By Vehicle, By Tire Size, By Sales Channel, By Location, Share, Growth Forecast, 2024 - 2032

Two-wheeler Tires Market Size

The global two-wheeler tires market size was valued at USD 9.2 billion in 2023 and is projected to grow at a CAGR of 7.9% between 2024 and 2032. Urbanization significantly drives the demand for two-wheeler tires, especially in developing regions. As cities expand and populations grow, the need for affordable and flexible transportation increases.

Two-wheelers, such as motorcycles and scooters, offer practical and cost-effective solutions for navigating congested urban areas. These vehicles use less fuel, require less parking space, and are generally more affordable than cars, making them popular in densely populated cities. As a result, the increased use of two-wheelers boosts the demand for new and replacement tires, creating consistent growth opportunities for tire manufacturers.
 

For instance, a 2023 Statista report showed that global urbanization was at 57%. North America, Latin America, and the Caribbean had the highest urbanization levels, with over 80% of their populations living in urban areas. Urbanization measures the share of the population living in areas defined as "cities." In contrast, less than half of Africa's population lives in urban areas. Notably, China accounts for over 25% of the world's built-up areas with more than 500,000 residents.
 

Additionally, as more people move to cities for work and living, infrastructure pressures make two-wheelers a convenient transportation option, especially in emerging economies such as India and Southeast Asia. Urbanization, combined with rising disposable incomes in developing countries, has led to a steady increase in two-wheeler ownership. This trend not only boosts the initial demand for tires but also stimulates the aftermarket tire segment, as urban users need regular tire replacements due to high city mileage.
 

Two-wheeler Tires Market Trends

Technological integration is transforming the two-wheeler tire industry, with smart tires becoming increasingly popular. These advanced tires have sensors that monitor tire pressure, temperature, tread wear, and road conditions in real-time. This technology improves rider safety by preventing accidents caused by tire issues like blowouts or under-inflation. Additionally, smart tires offer predictive maintenance by alerting users to potential problems, reducing downtime and repair costs. These innovations align with the trend towards intelligent transportation systems and connected vehicles.
 

Smart tires also enhance fuel efficiency by maintaining optimal tire pressure, which reduces rolling resistance and fuel consumption. Manufacturers are exploring eco-friendly materials for tire construction alongside these innovations. These developments are expected to drive growth in the premium tire segment, especially in urban markets where safety and performance are crucial. The demand for advanced tires is also increasing with the adoption of electric two-wheelers, which need specialized tires for better battery efficiency and performance.
 

However, fluctuating raw material costs pose a significant challenge in the two-wheeler tire market. Tires are mainly made from natural rubber, synthetic rubber, and other materials like carbon black, steel, and chemicals. The prices of these materials are highly volatile due to factors like changing global demand, supply chain disruptions, and geopolitical instability. For example, natural rubber prices can be affected by weather conditions in major producing countries such as Thailand and Malaysia. These unpredictable cost variations increase production expenses for manufacturers, squeezing profit margins and making price stability difficult.
 

Two-wheeler Tires Market Analysis

Based on tires, the market is segmented into tubed and tubeless. In 2023, the tubed segment accounted for over 55% of the market share and is expected to exceed USD 9 billion by 2032. Budget-friendly and traditional two-wheelers, especially in developing countries, mainly use tubed tires, giving this segment a large share in the two-wheeler tires market.
 

Tubed tires are cheaper to produce and maintain than tubeless tires, making them the preferred choice where cost is crucial. Additionally, motorcycles and scooters in rural or rough areas often use tubed tires for their durability and easy repair. As a result, tubed tires are very popular in markets such as India, Southeast Asia, and Africa?.
 

Based on the vehicle, the two-wheeler tire market is divided into motorcycle and scooter. The motorcycle segment held 75.8% of the market share in 2023. Motorcycles lead the market, particularly in developing regions such as Asia-Pacific, where they serve as a vital mode of transportation in both urban and rural areas. Their affordability, fuel efficiency, and maneuverability make them highly favored among commuters.
 

Moreover, the larger engines and higher speeds associated with motorcycles result in faster tire wear, driving a continuous demand for replacements. As disposable incomes rise, motorcycle ownership increases, further fueling tire demand in this segment. Additionally, the growing trend of urbanization and an expanding middle class in emerging economies are expected to sustain this growth, solidifying motorcycles' dominance in the market.
 

China two-wheeler tires market accounted for 60% of the revenue share in 2023, due to its large manufacturing capabilities and high demand for motorcycles as a primary mode of transportation. Rapid urbanization and a growing population have increased motorcycle ownership, driven by the need for affordable and efficient commuting. Additionally, China's extensive network of tire manufacturers ensures competitive pricing and innovation, strengthening its market position.
 

In North America, the market favors high-performance motorcycles. The rising interest in recreational riding and off-road activities has boosted demand for specialized tires for various terrains. Moreover, growing awareness of the benefits of motorcycle riding, such as fuel efficiency and reduced traffic congestion, is expected to drive growth in this segment.
 

Europe's two-wheeler tire market benefits from a strong motorcycle culture, especially in urban areas where two-wheelers are a convenient alternative to cars. Strict regulations promoting emissions reductions have led to an increase in electric and hybrid motorcycles. This shift towards eco-friendly vehicles is driving demand for specialized tires, further solidifying Europe’s market position.

Two-wheeler Tires Market Share

The two-wheeler tires industry features a diverse range of competitors, including established organizations. Major companies such as Apollo Tyres, Bridgestone, CEAT, Maxxis International, Michelin, MRF, and Pirelli lead the market, using their extensive technology infrastructure, brand recognition, and large customer bases to provide comprehensive solutions, and these companies collectively held a substantial market share of 49% in the two-wheeler tires market in 2023.
 

Apollo Tyres holds a significant share of the two-wheeler tire market due to its wide product range, strong brand presence, and extensive distribution network. The company focuses on innovation and quality to meet diverse consumer needs. Apollo's investments in technology and sustainable practices also enhance its competitive edge. Bridgestone is a leading player in this market, driven by its commitment to research and development, producing high-performance tires for various motorcycle segments. Bridgestone's global presence and strong relationships with OEMs further strengthen its market share, ensuring effective distribution and brand loyalty.
 

Two-wheeler Tires Market Companies

Major players operating in the two-wheeler tires industry are:

• Apollo Tyres
• Bridgestone
• CEAT
• Continental
• JK Tyre
• Maxxis International
• Michelin
• MRF
• Pirelli
• TVS
   

Two-wheeler Tires Industry News

• In April 2024, MRF Ltd. acquired opportunities while being cautious about committing to inorganic growth, as stated by Chairman K.M. Mammen. He highlighted the risks of poor acquisitions, referencing Apollo Tyres' failed deal with Cooper Tire & Rubber. MRF is also considering partnerships and plans to establish a factory outside India due to favorable manufacturing conditions. The company continues to invest ?800-1,000 crore annually and reported a 2.3% increase in net sales for the year ending September 30, 2013, with a 39.5% rise in net profit.
   
• In October 2023, Bridgestone launched its new sports motorcycle tire, the Battlax Hypersport S23. This next-generation tire is designed to enhance cornering grip and overall performance, particularly in wet conditions. The S23 features advanced rubber compounds and a new tread pattern to improve handling and stability. It aims to meet the demands of sports riders and is suitable for various motorcycle models.
   

The two-wheeler tires market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) and shipment (Unit) from 2021 to 2032, for the following segments:

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Market, By Tire

• Tubed
• Tubeless

Market, By Vehicle

• Motorcycle
  • Standard/commuter
  • Sport/performance
  • Adventure/touring
  • Off-road/dirt bikes
  • Others
• Scooters
  • Standard scooters
  • Maxi scooters

Market, By Tire Size

• Up to 12 Inches
• 12 to 17 Inches
• Above 17 Inches

Market, By Sales Channel

• OEM
  • Tubed
  • Tubeless
• Aftermarket
  • Tubed
  • Tubeless

Market, By Location

• Front
• Rear

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordics
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • UAE
  • Saudi Arabia