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Two-wheeler Tires Market Share

Report ID: GMI11903
Published Date: Oct 2024
Report Format: PDF

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Two-wheeler Tires Market Share

Two-wheeler Tires Market Company Share Analysis, 2023

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

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of two-wheeler tires reached USD 9.2 billion in 2023 and is set to grow at a 7.9% CAGR from 2024 to 2032, driven by rising urbanization and the need for affordable transportation.

The tubed tires segment accounted for over 55% of the market share in 2023 and is expected to exceed USD 9 billion by 2032, primarily due to their use in budget-friendly and traditional two-wheelers in developing countries.

The motorcycle segment held 75.8% of the market share in 2023, propelled by their affordability, fuel efficiency, and maneuverability, especially in developing regions like Asia-Pacific.

China's market held over 60% of the revenue share in 2023, bolstered by its large manufacturing capabilities and high demand for motorcycles as a primary mode of transportation.

Major players in the industry include Apollo Tyres, Bridgestone, CEAT, Continental, JK Tyre, Maxxis International, Michelin, MRF, Pirelli, and TVS.