Asia-Pacific Two-Wheeler Tire Market is expected to gain market growth in the forecast period of 2024-2030

According to MarkNtel Advisors study the Asia-Pacific Two-Wheeler Tire Market size 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.

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Key Findings of the Study: Asia-Pacific Two-Wheeler Tire market

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.

Asia-Pacific Two-Wheeler Tire Market Challenge:

Availability of Retreaded Tires Restricting the Demand for New Tires – China, Japan, and Thailand are among the leading countries in the sales & supply of retreaded tires in the Asia-Pacific region, as these countries have been using advanced technology to improve the applicability of used & old tires for further resale. These countries have been exporting a huge quantity of retreaded tires to Asia-Pacific countries such as Vietnam, Malaysia, Cambodia, etc., as the customers in these importing countries are price-sensitive & prefer to buy tires available at a low cost. This has been negatively affecting the replacement demand for new tires & has been hampering the sales of newly manufactured tires in the region.

The geographical proximity of the exporting countries to the importing countries is an added advantage as it minimizes transportation costs & further reduces the overall price of retreaded tires in the importing countries. For instance, in 2021 Malaysia imported nearly USD 5.23 million worth of retreaded tires in comparison to USD 2.37 million in 2019, as per the World Integrated Trade Solution. Therefore, the low-cost availability of retreaded tires has been restricting the sales of fresh tires, which would remain a challenge in the upcoming years as well for the Two-Wheeler Tire Market.

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Scope of the Report and Asia-Pacific Two-Wheeler Tire Market Segmentation:

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)

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)

The aftermarket segment is anticipated to hold a substantial share of the market.

Asia-Pacific Two-Wheeler Tire Market Competitive Landscape

• 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

Asia-Pacific Two-Wheeler Tire Market Development:

• 2022: Bridgestone Tyres approved plans to strengthen investments in its natural rubber plantations in Southeast Asia. The company plans to invest around USD 26.7 million by 2030 to ensure a sustainable supply of natural rubber for tire production.
• 2022: Maxxis International, received an increased funding by around USD 30 million from Cheng Shin Rubber to meet the operation’s needs across the region.

Geographical Analysis:

By Country

• China
• India
• Japan
• Malaysia
• Indonesia
• Singapore
• Cambodia
• Vietnam
• Thailand
• Philippines
• Australia
• New Zealand
• South Korea
• Rest of Asia-Pacific

China is witnessing a substantial growth rate in the region.

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