The constantly evolving automotive industry globally and other major driving factors is expected to favour the rise in the global two-wheeler tires market
Reports & Insights has published a new report titled, “Two-Wheeler Tire Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Two-Wheeler Tires Market, By Tire Type (Pneumatic Tire, Solid/Others (Advanced Tire)), By Tube Specification (Tube Tire, Tubeless Tire), By Rim Size (Less than 10 inches, 10-13 inches, 14-17 inches, 18-21 inches, More than 21 inches), By 2W Type (ICE Motorcycle, ICE Scooter/Moped, Electric Motorcycle, Electric Scooter/Moped), By Sales Channel (OEM, Aftermarket) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global two-wheeler tires market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of xx%.
Two-wheeler tires are the outlying parts of the two-wheeler vehicle and offer the only association with the ground and thus, holds an extremely significant role in how a two-wheeler vehicle retorts to steering, acceleration, handling, braking, soaking road undulations and bearing the load of the rider and passenger. There are generally two kinds of tires - tube-type tires and tubeless tires. The tubeless tires are fastened with alloy wheels although tube-type tires are generally used on spoked steel rimmed wheels.
The two-wheelers are considered more convenient as it doesn’t require more space as well as the rapid pace of urbanization, in the current times, is making motorcycle/other two-wheeler vehicles more relevant. Owing to which, the two-wheeler tires are projected to gain immense traction in the following years. In addition, the constantly developing automotive industry is also compelling the emergence of new technologies, structure and designs which is further estimated to escalate the demand of two-wheeler tires in the following years.
However, the fluctuating price of natural raw material used to develop two-wheeler tires, including natural rubber and synthetic rubber is expected to boost the entire cost of tires, which is likely to restrain the growth of the global two-wheeler tires market over the forecast period.
Reports & Insights Study identifies some of the key participating players in the two-wheeler tires market globally are Apollo Tyres Ltd., Bridgestone Corporation, CEAT Limited, Cheng Shin Rubber Ind. Co. Ltd., Continental Tire, Dunlop, Giti Tire Pte. Ltd., Goodyear, Hangzhou Zhongce Rubber CO. LTD., Hankook Tires, JK Tyre & Industries Ltd., Maxxis Tyres, Metzelers, Michelin, MRF Limited, Pirelli, Ralco Tyres, Rinaldi S/A Industria de Pneumaticos, Sailun Tires, Triangle Tires, TVS Srichakra Limited, Yokohama, among others.
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