Motorcycle Tyres Market Size, Share, Growth, and Industry Analysis, By Type (Bias Tyre and Radial Tyre), By Application (Replacement and OE) and Regional Forecast to 2032

MOTORCYCLE TYRES MARKET REPORT OVERVIEW

The global Motorcycle Tyres market size was USD 5.5 billion in 2023 and is projected to touch USD 7.21 billion by 2032, exhibiting a CAGR of 3.0% during the forecast period. Motorcycle tyres are important accessories that are developed to meet the specific characteristics and usage nature of motorcycles. However, motorcycle tyres have some special characteristics different from car tyres in order to meet requirements for balance of two-wheeled vehicles, as well as their stability and controllability. They are normally made from rubber and polymers, fabrics as well as steel cords that offer it the required friction, toughness and elasticity.

GLOBAL CRISES IMPACTING MOTORCYCLE TYRES MARKET COVID-19 IMPACT

Motorcycle Tyres Had a Negative  Effect Due to Disruptions in Supply Chain during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Disruptions in operations due to lockdowns, forced shut down as manufacturing plants were closed temporarily affected the production of tyres. Raw material supply problems were prevalent across many firms; this led to constrained production and higher cycle times for tyre production. The COVID-19 outbreak affected operations across the entire sector supply chain, logistics constraints and higher freight costs affected transportation of tyres to retailers and or to the end consumer, resulting in availability shortfalls in some locations.

LATEST TRENDS

"Focus on Sustainability to Propel Market Growth"

This variety has risen to prominence largely owing to the rising consumer consciousness regarding sustainability in the motorcycle tyres market. Companies in this industry are looking forward to adopting natural sources for raw material and recycling to canonize the effects on the environment especially regarding disposal of used tyres. Other advancements in tire design as pertains to usage seeks to improve the fuel economy and minimize rolling resistance output in an effort to minimize emissions when in use.

MOTORCYCLE TYRES MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Bias Tyre and Radial Tyre.

• Bias Tyre- Bias tyres are built with fabric plies surrounding the bead with the plys oriented at an angle of between 30 to 40 degrees from the direction of travel. This construction method makes the arrangement of plies to cross each other, thus providing a strong sidewall and a distorted area of the tread.
• Radial Tyre- Radial tyres consist of plies that are positioned in a manner that is perpendicular to the direction of the movement; this design results in the tyre boasting of a weaker sidewall while boasting a relatively rigid threading surface. This facilitates increased stability, handling and response making radial a choice for high powered motorbikes and sports riding.

By Application

Based on application the global market can be categorized into Replacement and OE.

• Replacement- A consumer product tyre is defined as those tyres which are bought by a consumer with a purpose of replacing worn or damaged motorcycle tyres. This application is significant for the enhanced performance, safety and stable handling of the motorcycle.
• OE- OE tyres simply therefore mean the motorcycles that are fitted in the manufacturing process are original and are known as OE tires. These tyres are carefully chosen by manufacturers to blend with design specification, performance and control attributes of the motorcycle model.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions. 

DRIVING FACTORS

"Growing Interest in Recreational Riding to Drive Market Advancement"

One of the key driving factors in the Motorcycle Tyres market growth is the Growing Interest in Recreational Riding. The increased trend of using motorcycles for leisure riding has played a key role among the factors driving the motorcycle tyres market, as mentioned above, more and more people use motorcycles for recreational purposes rather than for commuting. This trend has resulted in a rise in the need for companions such as touring, cruiser, and off-road type motorcycles, and each of these models has specific tyre designs for improved performance under varying riding conditions.

"Expansion of E-commerce Platforms to Expand the Market"

One of the emerging trends helping the motorcycle tyres market is the growth of e-commerce platforms that have refocused consumer preferences for tyres. Through the internet, several tyre brands from different manufacturers are available and the buyer is able to compare the prices, the features and even the feedback given by other consumers without having to physically get up from their seat. Such convenience is especially valuable to motorcycle users who look for certain kinds of tyre that suit their performance, sport, touring, or off-road.

RESTRAINING FACTOR

"High Cost of Raw Materials to potentially impede Market Growth"

In manufacturing motorcycle tyres, one of the strongest threats that challenge manufacturers is the high prices of raw materials that would evoke high costs for production and hence the selling price. Competition for motorcycle tyres focuses primarily on basic material costs including natural and synthetic rubber, carbon black and other chemicals used in making the tyres whose costs are subject to large variations due to changes in global supply, demand conditions, geopolitical and other factors. Whenever the cost of these raw materials is high, it translates to higher production costs to manufacturers and cost is usually passed onto consumers.

 OPPORTUNITY

"Rising Demand for Electric Motorcycles To Create Opportunity for the Product in the Market"

Opportunity for motorcycle tyres manufacturers lies in the emerging market of electric motorcycles as manufacturers look towards fulfilling the evolving performance specifications or safety requirements of these new motorcycles. More and more individuals are shifting towards using electric motorcycles given their environmental impact and costs of operations as well as the dynamic change toward fostering sustainable means of transport. This growing segment increases the demands for tyres that besides weight and torque characteristics of electrical motors must provide the overall better riding experience.

CHALLENGE

"Increasing Competition Could Be a Potential Challenge for Consumers"

A pressure is being exerted on motorcycle tyres manufacturers in terms of strategy and operations due to growing rivalry in the market. The market has various segments with giant brands worldwide, emerging manufacturers and suppliers all seeking market share. These conditions often trigger price competition that forces the companies to drop prices in a bid to attract the consumer thus cutting their profit margins badly.

MOTORCYCLE TYRES MARKET REGIONAL INSIGHTS

●       NORTH AMERICA

The structure of motorcycle tyres demand in North America is quite sustainable and highly developed, where attention is paid to high and Premium segments. The region has several tyre manufacturers who closely undertaking research and development to better product that fits specific terrains and/but riding styles.

●       EUROPE

In Europe alone, it is evident that there is growing concern in the motorcycle tyres market in terms of quality products, safety, and sustainability of the products. A European market trend that is in demand are high performance tyres that provide better grip and handling on the roads especially for the sport and touring motorcycles. The market is conforming to high regulations on emission and safety, which forces product manufacturers to come up with products that are friendly to the environment.

 ●       ASIA

Asia Pacific has emerged as the most dominant region in the Motorcycle Tyres market share due to a convergence of factors that propel its leadership in this dynamic industry. China, India and Indonesia have so many motorcycles in use today due to the increasing population of the citizens in urban areas and ease of employing motorbikes in Line with two wheelers.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Motorcycle Tyres Market Through Innovation and Market Expansion"

Key enterprise players are shaping the Motorcycle Tyres marketplace through strategic innovation and marketplace growth. Tyre makers are dedicating large amounts of money towards research and development in search of the next generation tyre designs for improved performance, longevity and safety. For instance, existing industries are cutting-edge tyres with an optimized tread pattern, better tractions, and lower rolling resistance without ignoring EV motorcycles.

LIST OF TOP MOTORCYCLE TYRES COMPANIES

●   Michelin(France)

●   Cheng Shin Rubber(Taiwan)

●  Kenda Tires(Taiwan)

● Continental Tires(Germany)

●  Bridgestone(Japan)

KEY INDUSTRY DEVELOPMENTS

Jan 2024: CEAT Ltd., an Indian Tire Manufacturer has shifted its production gears towards manufacturing of steel radial tires for two-wheelers to fortify the market leadership in two wheeler tire segment. These tires are made to fit high powered motor bikes divided into two categories; the sportrad motorcycles and the crossrad motorcycles. 

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.