India Two-Wheeler Tire Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The India Two-Wheeler Tire Market size is estimated to grow at a CAGR of around 11.2% during the forecast period, i.e., 2024–30. The market's growth is driven by increased traffic jams, the expansion of online delivery services, and electric two-wheelers. Cities like Bangalore, Pune, Mumbai, and others are experiencing the worst traffic conditions in India due to the growing urban population. For instance, according to the TomTom Traffic Index in 2023, Bengaluru and Pune found themselves on the list of the ten worst traffic-hit cities globally in 2023. To combat the heavy traffic, most people are inclined toward adopting two-wheelers in these cities, substantially contributing to the overall market growth & expansion. Moreover, a large number of the working population prefers commuting on scooters, primarily to avoid the burgeoning traffic. While the sales of two-wheelers are increasing, it is directly impacting the India Two-Wheeler Tire Industry positively.
Markntel Advisor’s India Two-Wheeler Tire Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, India Two-Wheeler Tire Market drivers, barriers, India Two-Wheeler Tire Market Trends, and Key Players in India Two-Wheeler Tire Market.
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India Two-Wheeler Tire Market Dynamics: 2024-2030
India Two-Wheeler Tire Market Driver:
Expansion of Fleet by Raid Hailing Companies – Major cities like Pune, Bangalore, Delhi, etc., have been facing traffic congestion issues due to rapid urbanization and strained road infrastructure. These traffic jams devour nearly half of the daily commute time of individuals. As a result, the individuals residing in these cities leave early for work and prefer to use bike taxis for daily commuting purposes. Thus, Bangalore, Delhi, Pune, Mumbai, etc., have emerged as hotbeds for ride-hailing app usage. The high usage of bike taxis in the region is resulting in wear and tear of the tires, enhancing the requirement for replacement at frequent intervals.
In addition, the growing demand for ride-hailing motorcycle taxis is also leading companies, such as Uber, Ola, Rapido, etc., to expand their motorcycle fleets. For instance,
In 2024, Ola unveiled its e-bike service in Delhi and Hyderabad and planned to deploy 10,000 e-vehicles across these cities over the coming months.
Consequently, the expansion of ride-hailing services is expected to drive tire demand across the country and contribute to the growth of the India Two-wheeler Tire Market in the coming years.
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India Two-Wheeler Tire Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
· By Vehicle Type
o Scooter and Moped- Market Size & Forecast 2019-2030, Thousand Units
o Motorcycle- Market Size & Forecast 2019-2030, Thousand Units
· By Demand Type
o OEMs- Market Size & Forecast 2019-2030, Thousand Units
o Replacement- Market Size & Forecast 2019-2030, Thousand Units
· By Tire Type
o Radial- Market Size & Forecast 2019-2030, Thousand Units
o Bias- Market Size & Forecast 2019-2030, Thousand Units
· By Price Category
o Budget- Market Size & Forecast 2019-2030, Thousand Units
o Economy- Market Size & Forecast 2019-2030, Thousand Units
o Premium-Market Size & Forecast 2019-2030, Thousand Units
· By Sales Channel
o Online- Market Size & Forecast 2019-2030, Thousand Units
o Multi Brand Stores - Market Size & Forecast 2019-2030, Thousand Units
o Exclusive Outlets - Market Size & Forecast 2019-2030, Thousand Units
o Direct Sales- Market Size & Forecast 2019-2030, Thousand Units
· By Tire Size
o Tire Size 1 - Market Size & Forecast 2019-2030, Thousand Units
o Tire Size 2- Market Size & Forecast 2019-2030, Thousand Units
o Tire Size 3- Market Size & Forecast 2019-2030, Thousand Units
o Tire Size 4- Market Size & Forecast 2019-2030, Thousand Units
o Tire Size 5- Market Size & Forecast 2019-2030, Thousand Units
· By Region
o North
o East
o West
o South
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Top Companies Operating in the India Two-Wheeler Tire Market:
- MRF Ltd.
- Apollo Tyres Corporate
- CEAT Limited
- TVS Srichakra Limited
- Michelin
- Pirelli Tyre S.p.A
- JK Tyres and Industries
- Goodyear Tire and Rubber Company
- Continental AG
- Bridgestone Corporation
- Ralco Tyres
- Maxxis Tires
- Others
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