Two-wheeler Tires Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032

Two-wheeler Tires Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032

The Global Two-Wheeler Tires Market was estimated at USD 9.2 billion in 2023 and is expected to experience a CAGR of 7.9% from 2024 to 2032. A key driver of this growth is urbanization, particularly in developing regions, where expanding cities and rising populations propel the demand for economical and flexible transportation options. Two-wheelers, including motorcycles and scooters, provide efficient and cost-effective solutions for navigating crowded urban landscapes. These vehicles consume less fuel, occupy less parking space, and are generally more affordable than cars, making them an attractive choice in densely populated areas. As the popularity of two-wheelers rises, so does the demand for new and replacement tires, presenting ongoing opportunities for tire manufacturers.

The market is segmented into two main categories: tubed and tubeless tires. In 2023, tubed tires captured over 55% of the market share and are projected to exceed USD 9 billion by 2032. This segment is particularly favored in developing countries, where budget-friendly options dominate. Tubed tires are less expensive to produce and maintain than their tubeless counterparts, making them a practical choice in cost-sensitive markets. Additionally, their durability and ease of repair make tubed tires suitable for motorcycles and scooters in rural or rugged environments.

When looking at vehicle types, the two-wheeler tire market is classified into motorcycles and scooters. The motorcycle segment accounted for 75.8% of the market share in 2023. Motorcycles are particularly popular in developing regions, serving as a crucial mode of transport in urban and rural settings. Their affordability, fuel efficiency, and agility make them highly sought after among daily commuters. Furthermore, motorcycles tend to have larger engines and higher speeds, leading to faster tire wear and a steady demand for replacements.

China two-wheeler tires market represented 60% of the global revenue in 2023, attributed to the extensive manufacturing capabilities and high demand for motorcycles as a primary means of transport. Rapid urban growth and increasing population density have significantly boosted motorcycle ownership, driven by the need for affordable commuting options. Moreover, a vast group of tire producers assures viable pricing and fosters innovation, enhancing the country's position in the market. As the demand for two-wheeler tires continues to grow, manufacturers are likely to focus on developing products that cater to evolving consumer needs and preferences.