Dublin, Dec. 07, 2021 (GLOBE NEWSWIRE) -- The "India Two Wheeler Tire Market, By Vehicle Type (Motorcycle, Scooter and Moped), By Demand Category, By Radial Vs Bias, By Rim Size, By Tire Size, By Price Segment, By Aftermarket Demand Rim Size, By Region, By States, Competition, Forecast & Opportunities, FY2027" report has been added to ResearchAndMarkets.com's offering.
The Indian Two Wheeler Tire Market stood at around USD 2.11 Billion in FY2021 and is expected to grow at CAGR of 10.53%, by value, to reach USD 3.94 Billion by FY2027.
The demand for two wheeler tires in India is growing at a rapid pace, owing to increasing production of two wheelers in India. India is home to numerous global two wheeler leading brands like Hero, Honda, TVS, Yamaha, Piaggio, etc. with their manufacturing and assembly plants spread across the country. India's two wheeler fleet size is enormous owing to decent employment in service sector and growing middle-income group population.
Moreover, with increasing on road traffic people opting for two wheelers in India, and with better penetration of scooters, female riders are also increasing the Asian country. These factors have influenced two wheelers demand in the country and hence, the two wheeler tire sales have registered a robust growth with a CAGR of 4.92% by volume, through FY2017-FY2021. Moreover, with increasing number of tire manufacturers in the country as well as tire repair shops and outlets a similar growth trend is susceptible to be witnessed in the forecast period as well.
The Indian Two Wheeler Tire Market can be segmented based on vehicle type, by demand category, by radial vs bias, by rim size, by tire size, by price segment, by company, by region, by states and by aftermarket rim size. In terms of vehicle type, the market is segmented into motorcycle, scooter, and mopeds.
As, motorcycles are being used as the most common source of transportation within the cities of India compared to the other means of transportation, the motorcycle segment holds the dominance in the two wheeler tire market of India. The segment's dominance can also be attributed to the increasing demand for motorcycles among the youngsters in India. With the constant product launches and innovations in the market and the increasing number of performance motorcycles, the popularity of motorcycles among youngsters is expected to grow even further. The Indian Two Wheeler Tire Market based on price segment is categorized into the ultra budget, budget and premium tires.
The majority of the Indian population is comprised of working middle class people, where budget plays a major factor when it comes to buying a two wheeler, so majority of two wheeler production giants in the country develop a vehicle keeping the mileage, durability and budget in mind, not the premium and advanced qualities like the performance two wheelers have. Hence, as of FY2021, budget tires constitute a major share in the Indian Two Wheeler Tire Market.
MRF Limited with its strong presence and large dealership and distribution network across the country is leading the Indian Two Wheeler Tire Market in terms of two wheeler tires sold in FY2021. Second to MRF Limited, CEAT Limited led the market share in terms of two wheeler tires sold in FY2021. The two companies have continuously introduced innovative products targeting the budget friendly tires over the years, making them the market leaders in the two wheeler tire market of India. Other players in the Indian Two Wheeler Tire Market include TVS Srichakra Limited, JK Tyres & Industries Limited, Apollo Tyres Limited, Bridgestone India Private Limited, and Michelin Group, among others.
Objective of the Study:
- To analyze the historical growth in the market size of the Indian Two Wheeler Tire Market, in terms of value as well as volume, from FY2017-FY2021.
- To estimate and forecast the Indian Two Wheeler Tire Market from FY2022 to FY2027 and growth rate until FY2027.
- To classify and forecast the Indian Two Wheeler Tire Market based on vehicle type by demand category, by radial vs bias, by rim size, by tire size, by price segment, by region, by states and by company
- To identify drivers and challenges for the Indian Two Wheeler Tire Market.
- To examine competitive developments such as business growth opportunities, new product development, mergers and acquisitions, etc., in the Indian Two Wheeler Tire Market.
- To conduct the pricing analysis for the Indian Two Wheeler Tire Market.
- To identify and analyze the profile of leading players involved in the manufacturing of the Indian Two Wheeler Tire Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors Influencing Purchase Decision
4.2. Brand Switching Attributes
4.3. Unaided/Aided Brand Recall
4.4. Brand Satisfaction Level
5. Global Two Wheeler Tire Market Overview
6. India Tire Production Overview
7. India Two Wheeler Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type (Motorcycle, Scooter, and Moped)
7.2.2. By Demand Category (OEM vs Replacement)
7.2.3. Radial vs Bias
7.2.4. By Rim Size (2021)
7.2.5. By Tire Size (2021)
7.2.6. By Price Segment (Ultra Budget, Budget, and Premium)
7.2.7. By Company (2021)
7.2.8. By Region
7.2.9. By States (2021)
7.2.10. By Aftermarket Demand Rim Size (2021)
7.3. Product Market Map (By Vehicle Type)
8. India Motorcycle Tire Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Demand Category
8.2.2. By Rim Size
8.2.3. By Tire Size
8.3. India Motorcycle Tire Sizes, By Motorcycle Models
9. India Scooter Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Demand Category
9.2.2. By Rim Size
9.2.3. By Tire Size
9.3. India Scooter Tire Sizes, By Scooter Models
10. India Moped Tire Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Demand Category (OEM vs Replacement)
10.2.2. By Rim Size
10.2.3. By Tire Size
10.3. India Moped Tire Sizes, By Moped Models
11. Import-Export Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Supply Chain Analysis
15. Pricing Analysis
16. Policy & Regulatory Landscape
17. Impact of COVID-19 on India Two Wheeler Market
18. India Economic Profile
19. Competitive Landscape
19.1. MRF Limited
19.2. CEAT Limited
19.3. TVS Srichakra Limited
19.4. JK Tyre & Industries Ltd.
19.5. Apollo Tyres Limited
19.6. Bridgestone India Private Limited
19.7. Michelin Group
19.8. Pirelli & C. S.p.A.
19.9. Maxxis Rubber India Private Limited
19.10. Metro Tyres Limited
19.11. Ralco Tyres Limited
20. Strategic Recommendations
21. Prominent Distributors/Dealers
22. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/onzfwk
