India Two Wheeler Tire Market, By Vehicle Type, 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
- November 2021 •
- 113 pages •
- Report ID: 5479814 •
- Format: PDF
India Two Wheeler Tire Market, By Vehicle Type (Motorcycle, Scooter and Moped), By Demand Category (OEM Vs Replacement), By Radial Vs Bias, By Rim Size (10”-12” and 15”-19”), By Tire Size (80/100-18, 90/90-12, 2.75x18, 90/100-10, 80/80-17, Others), By Price Segment (Budget, Ultra Budget, Premium), By Aftermarket Demand Rim Size (10”-12” and 15”-19”), By Region, By States, Competition, Forecast & Opportunities, FY2027
India 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.
India 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 India two wheeler tire market based on price segment is categorized into the ultra budget, budget and premium tires.
Majority of 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 India two wheeler tire market.
MRF Limited with its strong presence and large dealership and distribution network across the country is leading the India 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 India two wheeler tire market include TVS Srichakra Limited, JK Tyres & Industries Limited, Apollo Tyres Limited, Bridgestone India Private Limited, and Michelin Group, among others.
Years considered for this report:
Historical Period: FY2017-FY2020
Base Year: FY2021
Estimated Year: FY2022E
Forecast Period: FY2023F-FY2027F
Objective of the Study:
• To analyze the historical growth in the market size of India two wheeler tire market, in terms of value as well as volume, from FY2017-FY2021.
• To estimate and forecast the India two wheeler tire market from FY2022 to FY2027 and growth rate until FY2027.
• To classify and forecast India 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 India two wheeler tire market.
• To examine competitive developments such as business growth opportunities, new product development, mergers and acquisitions, etc., in the India two wheeler tire market.
• To conduct the pricing analysis for the India two wheeler tire market.
• To identify and analyze the profile of leading players involved in the manufacturing of India two wheeler tire market.
The analyst performed primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of two wheeler tire dealers and distributors in India.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include distributors & manufacturers that could not be identified due to the limitations of secondary research. The analyst examined the vehicle types, distribution channel and regional presence of all the tire distributors and dealers across the country.
The analyst calculated the market size for India two wheeler tire market using a bottom-up technique, wherein manufacturers’ volume sales data and fleet for different vehicles, were recorded as well as forecast for the future years. The analyst sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size.
Multiple secondary sources such as directories, databases such as SIAM, OICA, Economic Intelligence Unit (EIU), company websites, company annual reports, white papers, investor presentations and financial reports were also studied for the India two wheeler tire market by TechSci Research.
Key Target Audience:
• Two-wheeler manufacturing companies
• Raw material suppliers
• Dealers/distributors of two wheeler tires
• Governments and financial institutions
• Research organizations and consulting companies
• Research institutes
• Associations, organizations, forums and alliances related to two wheeler tires
• Industry associations
• Market research and consulting firm
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the India two wheeler tire market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• India Two Wheeler Tire Market, By Vehicle Type:
• India Two Wheeler Tire Market, By Demand Category:
• India Two Wheeler Tire Market, By Radial vs Bias:
• India Two Wheeler Tire Market, By Rim Size:
• India Two Wheeler Tire Market, By Tire Size:
• India Two Wheeler Tire Market, By Price Segment:
o Ultra Budget
• India Two Wheeler Tire Market, By Region:
• India Two Wheeler Tire Market, By States:
o Tamil Nadu
o Uttar Pradesh
o Madhya Pradesh
o Andhra Pradesh
• India Two Wheeler Tire Market, By Aftermarket Rim Size:
Company Profiles: Detailed analysis of the major companies present in the India two wheeler tire market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.