Two-wheeler Tires Market Size

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.

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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.