Global Two-wheeler Tire Market 2019-2023
About this market
The growing demand for two-wheelers across the globe will drive the market growth during the forecast period. Various emerging economies have witnessed considerable rise in the sales of two-wheelers, in turn, positively impacting the two-wheeler tire market growth during the forecast period. Furthermore, widening pool of aging two-wheelers in mature markets including the US and Japan will further contribute to the growing demand for replacement tires. As a result, the growing adoption of two-wheelers will further proliferate the growth of two-wheeler tire market in the long run. Technavio’s analysts have predicted that the two-wheeler tire market will register a CAGR of almost 10% by 2023.
Prominent tire brands leveraging strong two-wheeler tire demand in emerging economies
One of the growth drivers of the global two-wheeler tire market is the prominent tire brands leveraging strong two-wheeler tire demand in emerging economies. The increasing focus of global tire manufacturers on two-wheeler-dominant emerging economies will drive the growth of the market during the forecast period.
Global two-wheeler tire market facing blow of US-China trade war
One of the challenges in the growth of the global two-wheeler tire market is the global two-wheeler tire market facing blow of US-China trade war. Automotive tires and synthetic rubber have been dragged into this US-China trade war, and this will affect the prospects of the market.
For the detailed list of factors that will drive and challenge the growth of the two-wheeler tire market during 2019-2023, view our report.
The market appears to be fragmented with the presence of several market players. Most vendors engaged in tire manufacturing have started using advanced tire manufacturing techniques and processes for lowering carbon emissions. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Two-Wheeler Tire Market 2019-2023
Technavio recognizes the following companies as the key players in the global two-wheeler tire market: Bridgestone Corporation, Continental AG, JK TYRE & INDUSTRIES LTD, MRF, TVS SRICHAKRA LIMITED, and ZC-RUBBER.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the adoption of environment-friendly tire manufacturing processes.”
According to the report, one of the major drivers for this market is the prominent tire brands leveraging strong two-wheeler tire demand in emerging economies.
Further, the report states that one of the major factors hindering the growth of this market is the manufacturers experience high-cost pressure.
JK TYRE & INDUSTRIES LTD
TVS SRICHAKRA LIMITED
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