Asia-Pacific Two-Wheeler Tire Market Size Expands to Reach USD 10.4 Billion by 2029
Asia-Pacific two-wheeler tire market size is flourishing owing to the rapidly increasing production and sales of two wheelers, and rising living standards fueled by their rising disposable income.
Request To Download Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17548
Report Ocean, a leading strategic consulting and market research firm, in its recent study, estimated Asia-Pacific two-wheeler tire market size at USD 8.2 billion in 2022. During the forecast period between 2023 and 2029, Report Ocean expects Asia-Pacific two-wheeler tire market size is to grow at a CAGR of 3.72% reaching a value of USD 10.4 billion by 2029. The region’s growing population and increasing demand for two-wheelers and their tires are the primary factors driving the tire market’s expansion. The Asia-Pacific two-wheeler tire market has grown exponentially and experienced a surge in the recent years. Most people prefer two-wheelers to avoid heavy traffic, which contributes significantly to overall market growth. A sizable portion of the working population prefers to ride scooters to work, primarily to avoid the growing traffic. The rising popularity of two-wheelers benefits the Asia-Pacific two-wheeler tire market.
Asia-Pacific Two-Wheeler Tire Market – Overview
Two-wheeler tire markets across APAC including in India, a major APAC country, due to the spurring demand for two wheelers. Tires are one of the most crucial parts of any vehicle, as we all know. Therefore, regular inspection is necessary to guarantee a trouble-free trip every time. Due to a lack of parking spaces and worsening traffic congestion in major cities, the tire industry in India is rapidly growing, especially in the northern states.
Download Sample Report, SPECIAL OFFER (Avail an Up-to 30% discount on this report ) @https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17548
Growth Drivers
Growing popularity of electric two-wheelers
Electric two wheelers are gaining huge traction in the Asia-Pacific market owing to increasing fuel prices and lower operating costs compared to their petrol substitutes. The rising focus towards sustainability and shift towards greener energy alternatives and concerns surrounding air and noise pollution are significantly propelling the growth of the two wheelers in the region. Additionally, favorable government policies are also projected to offer lucrative growth opportunities to the electric two wheeler in APAC. For instance, The Thailand Government has announced its target of 100% zero-emission vehicles by 2035.
Challenge: Increasing Safety Concerns in the Region’s Congested Urban Areas
Rapid urbanization and growing urban population across the APAC region are resulting in heavy traffic congestion across cities. For instance, Bangkok in Thailand reportedly has the worst traffic, which is bad for the city’s growth on all fronts-economic, social, and financial. Although the Road Traffic Act was implemented in 1980 in Thailand, traffic rule violations are quite frequent in the country. All parts of Thailand frequently see speeding, reckless passing, and disregard for the law. This increases the chances of road accidents, causing serious accidents, injuries, disabilities, or even death. This may prompt the shift towards four wheelers from two wheelers, negatively impacting the growth of Asia-Pacific two-wheeler tire market.
Impact of COVID-19 on Asia-Pacific Two-Wheeler Tire Market
APAC, during the second quarter of 2020, was adversely affected by the COVID-19 pandemic. Lockdowns led to a sharp decline in the demand for two-wheeler tires throughout Asia Pacific, even though the extensive restrictions were necessary for health and safety. The lockdown measure harmed sales in the Asia Pacific because manufacturers were forced to reduce significant carryover stocks in the supply chain. Although there is a direct link between OEMs and the tire industry, not all OEMs may be affected by the virus pandemic. The prices of raw materials have generally been stable, and the recent drop in carbon black prices may help tire manufacturing companies soon.
Get The Insights You Need By Customizing Your Report To Fit Your Unique Needs And Goals:https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17548
Asia-Pacific Two-Wheeler Tire Market – By Tube Type
The Asia-Pacific two-wheeler tire market is segmented by tube type into tube tires and tubeless tires. The tubeless tire market segment represents a sizable portion of the Asia Pacific market in terms of revenue. Since tubeless tires have a slow rate of deflation and low rolling resistance, they are typically found on motorcycles. The demand for tubeless tires is anticipated to increase throughout Asia Pacific because tube tires use more fuel than tubeless tires.
Competitive Landscape:
Asia-Pacific two-wheeler tire market is fiercely competitive. Prominent players in the market include Hangzhou Zhongce Rubber, Giti Tire Pte. Ltd, Cheng Shin Rubber, MRF Limited, CEAT Limited, TVS Srichakra Limited, JK Tire & Industries Ltd., Apollo Tires Ltd, Honda, Hero, Royal Enfield, and Bajaj Auto. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Asia Pacific two-wheeler tire market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Two-Wheeler Tire Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Asia-Pacific Two-Wheeler Tire Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Content
Chapter 1: Global Asia-Pacific Two-Wheeler Tire Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Asia-Pacific Two-Wheeler Tire market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Asia-Pacific Two-Wheeler Tire Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Asia-Pacific Two-Wheeler Tire market Size Forecast (2023-2030).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Asia-Pacific Two-Wheeler Tire market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Asia-Pacific Two-Wheeler Tire market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Asia-Pacific Two-Wheeler Tire market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Asia-Pacific Two-Wheeler Tire business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17548
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com/