Dynamic 6.7% CAGR Charts India Two-Wheeler Radial Tire Market’s Future in 2024-30
Feb 12, 2024
Market Overview: India Two-Wheeler Radial Tire Market
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India Two-Wheeler Radial Tire Market Insights 2024-30
The India Two-Wheeler Radial Tire Market is estimated to grow at a CAGR of around 6.7% during the forecast period 2024-30.
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Driving Innovation: Exploring the India Two-Wheeler Radial Tire Market and its Key Drivers
India Two-Wheeler Radial Tire Market Driver: Robust Aftermarket Demand for Replacement Radial Tires
There has been a notable surge in the number of Two-wheelers on Indian roads, which has led to a substantial demand for radial tire replacements due to the effects of wear and tear. This demand has been largely driven by factors such as poor road conditions and excessive path holes, which resulted in extensive wear & tear. In addition, the mileage covered by two-wheelers on Indian roads has been higher as compared to other vehicles, given the extensive use of motorcycles and scooters for daily commuting.
As a result, the need for tire replacement became more frequent in the past, contributing to the improved demand for Two-wheeler radial tires in the aftermarket. Also, as radial tires offer a better riding experience in terms of safety & security, consumers prefer radial tires for replacement purposes over Bias tires.
This changing landscape of consumer preference has promoted vehicle manufacturers like TVS Eurogrip, MRF Tyres, and others to prioritize advanced technologies to cater to the growing audience base. For instance:
- In 2020, TVS Eurogrip’s Two-wheeler tires, with its R&D capabilities and patented innovations launched world-class tires that offered exceptional performance, control, stability, and durability through advanced technologies like Zero-degree steel-belted radials and tri-polymer technology.
Therefore, the launch of world-class two-wheeler tires and the rising demand for two-wheeler tires in the aftermarket enhanced market growth in the historical years. Further, as riders are seeking improved performance and fuel efficiency, they are projected to shift toward the installation of radial tires in their two-wheelers, which would drive the demand for tire replacement in the coming years as well.
Top Players in the India Two-Wheeler Radial Tire Market:
MRF Tyres, Apollo Tyres Ltd., CEAT Ltd., TVS Srichakra Ltd., Michelin India Pvt. Ltd., Pirelli Tires SA, JK Tyres & Industries, Goodyear India Ltd., Continental India Pvt. Ltd., Bridgestone India Pvt. Ltd., and Others
India Two-Wheeler Radial Tire Industry Recent Development:
- In 2022, Apollo Tyres introduced a Tramplr range of motorcycle tires for 150CC to 500CC range of motorcycles. These tires are equipped with bigger tread blocks and steel radial technology.
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Segmentation Analysis of India Two-Wheeler Radial Tire Market
India Two-Wheeler Radial Tire Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Two-Wheeler Type
-Moped & Scooter
By Tire Size
–120/70 R 17
–80/100 R 18
–Others (80/100 R 17, 90/90 R 17, etc.)
–190/55 R 17
–180/55 R 17
–100/90 R 17
–160/60 R 17
–Others (130/70 R 17, 150/60 R 17, etc.)
By Engine Type
-Internal Combustion Engine
By Price Category
By Sales Channel
-Multi Brand Stores
By Demand Type
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A Comprehensive Geographical Analysis:
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