Premium Two-Wheeler Tire Market Forecast 2028: Projected Growth and Opportunities | Techsci Research

TechSci Research has reported that the global premium two-wheeler tire market is expected to experience significant growth in the coming years. This growth can be attributed to an increase in the number of CKD and SKD units, as well as the launch of new and advanced motorbike brands and models. The rising popularity of superbike clubs and communities, along with the biking culture and a large youth population, is also driving market growth. The use of premium two-wheeler tires offers high-performance benefits, such as superior driving response, high-speed driving, better traction for optimal control, and other advantages, which are expected to increase demand for these tires in the next five years. Premium tires also offer lower rolling resistance, higher cushioning to reduce road noise, and improved tread grooves and patterns to enhance the performance of two-wheeler vehicles.

The COVID-19 pandemic, declared by the World Health Organization, has negatively impacted several countries across the world. Governments worldwide have implemented lockdown restrictions and precautionary measures to control the spread of the virus, resulting in temporary shutdowns of manufacturing units and labor shortages due to workers returning to their hometowns. The restrictions on import and export activities have disrupted the supply chain, leading to negative impacts on market growth. However, the demand for private vehicles, including two-wheeler vehicles and premium two-wheeler vehicles, has increased due to people's preference for personal vehicles over shared or public transportation, as a measure to avoid getting infected by the novel coronavirus.

The fluctuations in the price of rubber, which is used as a raw material to make tires, may create hindrances in the growth of the global premium two-wheeler tire market.

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The global premium two-wheeler tire market comprises segments based on type, demand category, tire type, rim size, regional distribution, and company. The demand category segment can be divided into OEM and replacement, with the replacement category expected to witness growth from 2022 to 2028. This growth can be attributed to the high sales of premium two-wheeler vehicles and subsequent wear down, with consumer awareness and availability of premium tires via online and offline sales channels also contributing to market growth. The type segment can be bifurcated into standard, cruiser, sport, touring, and adventure sport, with the sports segment expected to witness significant growth due to its affordability and versatility for various purposes such as long drives and sporting events.

Leading players operating in the global premium two-wheeler tire market include Compagnie Générale des Établissements Michelin, Pirelli & C. S.p.A., Continental AG, Dunlop Tires, Bridgestone Tire Co., Ltd., Apollo Tyres Limited, The Goodyear Tire & Rubber Company, Cheng Shin Rubber Ind. Co. Ltd., INOUE RUBBER CO., LTD., and Kenda Rubber Industrial Company. To achieve higher growth in the market, manufacturers are increasingly focusing on the research and development process to meet evolving customer demands for better efficiency and durability with their technologically advanced offerings.

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“Increasing adoption of the tire-pressure monitoring system in automobiles is aiding in the growth of the premium two-wheeler tire market in the next five years. These advanced system monitors, measures, and informs, and generates real-time information and helps in avoiding the under-inflated tire condition which increases the fuel efficiency of the vehicle. Also, the advanced technology in the novel two-wheeler vehicles such as the use of sensors to provide the improved tire management facility, and it can be connected with the smartphones for information communication to the consumers is fueling the growth of the premium two-wheeler tire market in the next five years. High penetration of internet services and the proliferation of smart devices is further expected to propel the market growth till 2028” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Premium Two-Wheeler Tire Market By Type (Standard, Cruiser, Sport, Touring, Adventure Sport) By Demand Category (OEM vs Replacement) By Tire Type (Radial vs Bias) By Rim Size (up to 16inch, 16-17inch, Above 17inch), By Region, Company Forecast & Opportunities, 2028” has evaluated the future growth potential of global premium two-wheeler tire market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global premium two-wheeler tire market.

About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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