NEW YORK, January 23, 2017 /PRNewswire/ —
Growing production of two-wheelers and continuously expanding two-wheeler fleet size to drive global two-wheeler tire market through 2021
According to TechSci Research report, “Global Two-Wheeler Tire Market Forecast and Opportunities, 2011 – 2021‘’, global two-wheeler tire market is forecast to surpass US$ 17 billion by 2021, due to continuously rising demand for two-wheelers tires from replacement and OEM segments, especially from Asia-Pacific. Production of two-wheelers increased in Asia-Pacific and crossed 70 million units in 2015. Moreover, growing issues associated with traffic congestion and rising preference for two-wheelers over four wheelers are anticipated to boost growth in global two-wheeler tire market through 2021.
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“Global Two-Wheeler Tire Market”
In 2015, motorcycle tire segment dominated global two-wheeler tire market owing to growing inclination towards purchasing motorcycles by younger generation, easy maneuverability and growing demand for premium motorcycles. Asia-Pacific accounted for a lion’s share in global two-wheeler tire market in 2015, owing to expanding two-wheeler fleet size and growing two-wheeler sales in the region. Moreover, increasing trend of using two-wheeler taxis and relatively lower disposable income of people in Asia-Pacific are anticipated to drive demand for two-wheelers and two-wheeler tires in the region in the coming years. Few of the leading global two-wheeler tire manufacturers include Hangzhou Zhongce Rubber Co., Ltd., Giti Tire Pte. Ltd., MRF Limited and JK Tyre & Industries Ltd.
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“Rising demand for two-wheeler tires across the globe can also be attributed to rapidly increasing demand for electric and hybrid two-wheeler vehicles and increasing availability of two-wheeler tires through online sales channels. Moreover, governments across various countries have taken several initiatives to promote use of electric and hybrid motorcycles. Additionally, growing sales for premium motorcycles across various countries is expected to boost demand for high performance tires from the motorcycle segment. This trend is anticipated to augur well for the global two-wheeler tire market through 2021.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Two-Wheeler Tire Market Forecast and Opportunities, 2011 – 2021“ has analyzed the potential of global two-wheeler tire market, and provides information and statistics on market structure and trends. The report intends in providing intending clients with cutting-edge market intelligence and help them in taking sound