NEW YORK, December 9, 2016 /PRNewswire/ --
The demand for two-wheeler tires is underpinned by several macro and micro economic factors impacting the growth of automotive industry across various countries. The market is driven by increasing R&D investments and speedy transformation occurring in the automotive sectors globally. However, the growth of the two-wheeler tire market is majorly supported by several factors such as production, sales and swiftly expanding fleet size of two-wheeler vehicles.
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Global Two-Wheeler Tire Market: Outlook
Global two-wheeler tire market, has witnessed a sluggish growth over the past few years. On one hand regions like APAC and North America exhibited a moderate growth, while on the other hand Middle East and European regions witnessed a slowdown in the tire market. Slump in the crude oil prices coupled with Euro crises and slow economic growth globally have been the major factors that have impacted the growth of global two-wheeler tire market. However, during the forecast period, oil prices are anticipated to stabilize by late 2017, which is likely to support the economy of several countries, thereby supporting the demand for two-wheelers in the coming years. Also, as two-wheelers are the main source of travel for middle-class people in developing economies, two-wheeler tire market is anticipated to rebound with a healthy market growth rate over the next 5 years.
Global Two-Wheeler Tire Market: Key Drivers
The global two-wheeler tire market is forecast to grow at a steady pace over the next couple of years. Further, backed by increasing R&D investments in various countries, coupled with major leading two-wheeler manufacturers expanding their production capacities across Asia are some of the factors which are anticipated to drive the global two-wheeler tire market. The world two-wheeler tire market is also largely driven by the continuously expanding fleet size of motorcycles and scooters across all the regions. This factor has been predominantly supporting the replacement market of two-wheeler tires globally.
Over the past few years, electric motorcycles and scooters have emerged as the new alternative source of transportation in regions such as Asia Pacific. Due to multiple cost benefits and various advantages associated with these vehicles, their demand has been increasing at a vigorous rate in the APAC region mainly because of their economical and pollution free run.
The global two-wheeler tire market has been witnessing several challenges in terms of declining production in many regions especially Europe, South America and several prominent nations in Asia Pacific. Slowing down of production has directly hampered the tire sales from the OEM category. However, in the coming years, the production is likely to recover and a positive tire market outlook is expected over a span of next five years.
Global Two-Wheeler Tire Market: Region Wise Outlook
The report is divided into six major regions: North America, South America, Europe & CIS, Asia-Pacific, Middle East and Africa. For each stated region, the market size is closely estimated and future forecasts have been given. Despite slowdown witnessed in the production of two-wheelers, the global two-wheeler tire market was majorly dominated by the APAC Region with a lion's share in the overall market. Further, with revival in the production of two-wheelers in the region during the forecast period, the dominance of Asia-Pacific region is likely to prevail in the global two-wheeler tire market over the next five years.
Global Two-Wheeler Tire Market: Segmentation
The Global Two-Wheeler Tire Market can be segmented based on vehicle type and region.
Based on the Vehicle Type, the Global Two-Wheeler Tire Market is divided into the following segments:
Based on the Region, the Global Two-Wheeler Tire Market is divided into the following segments:
Global Two-Wheeler Market: Key Players
Key players in the Global Two-Wheeler tire market include Indian players such as Apollo Tyres, MRF, JK Tyres etc. followed by several Chinese brands such as - Giti, Triangle Group and other brands such as Michelin, Bridgestone, Yokohama etc.
Information on these key players is covered in the Global Two-Wheeler Tire Market report. The report provides detailed company profiles with key segments including business segments, product offerings, and facts and figures along with the historical data and operating history of the company.
Why You Should Buy This Report?
The report is an outcome of in-depth primary and secondary research by industry experts. This market research report is a strategic guide to industry players catering to the two-wheeler tire market across the geographies. The key trends and growth drivers, challenges, etc. have been taken into consideration before devising the global as well as the regional market size and market share of the global two-wheeler tire market. The report discusses in detail about the reasoning behind current market growth as well as historical market size and analysis, along with the forecast market size and key reasons for the same for global as well as regional segments of the report.
Report Highlights:
Key Questions This Study Will Answer
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