Market Trends of Asia Pacific 2-Wheeler Tire Industry
This section covers the major market trends shaping the APAC 2-Wheeler Tire Market according to our research experts:
E-Bikes Will Push the Growth of the 2-Wheeler Tire Market
Cities in Asia have jam-packed roads. With the increasing number of vehicles, the existing infrastructure is unable to meet needs in every town and lanes. Traffic congestion inhibits the productivity of people with a lot of time lost waiting. As a result of many of the Asian governments, are promoting the sales for E-Bikes as they occupy lesser space resulting in more minor traffic jams.
The Indian government has also granted an exemption of registration fees for battery-operated/electric vehicles and even an exemption to permits to E-Vehicles running on ethanol and methanol fuels. It has also allowed obtaining driving licenses to drive e-scooters for the age group of 16-18 years. All these indicate a bright future of the E-Bikes vehicles in the country.
Wheels for E-bike come in many different sizes today, ranging from 12 inches to massive 29 inches in diameter. E-bikes are majorly equipped with a 16", 20", or 26" inch diameter wheel. For instance, the electric cruiser bike by Tower comes equipped with a 26-inch diameter wheel. 16-Inch Electric Bike Wheel is typically found on folding electric bikes, being lightweight, and meant to fold together so they can easily be transported. While 26-Inch Electric Bike Wheel is more commonly found on an electric bike. They are used as mountain bikes and also beach cruisers.
With such any wide range of options and growing government incentive towards E-vehicles, Asian countries will see a larger demand for E-bikes wheels as well.
India Will Dominate The 2-Wheeler Tire Market Worldwide
In India, half of the tire production is represented by 2-Wheeler tires. Although this segment accounts for only 13-15% of the tire industry sales. The domestic market for the 2-wheeler tire is dominated by three major players who are MRF, CEAT, and TVS, accounting for over 80% of the 2-wheeler market.
With the increasing number of vehicles, the existing infrastructure is unable to meet needs in every town and lanes. Traffic congestion inhibits the productivity of people with a lot of time lost waiting. As a result, the government is promoting the sales for E-Bikes as they occupy lesser space resulting in more minor traffic jams.
Indian 2-Wheeler Rental industry is also at a nascent stage. But, due to 2-wheeler's leaner volume, which significantly reduces traffic congestion, ride-hailing giant Ola and Uber have now heavily invested in scooter rental.
With E-bikes and 2-wheeler Rentals on the rise, India 2-Wheeler Tire market will also see a growing demand in the times ahead.
