China is among the leading countries in the production and sales of motorcycles. It has been surpassing India in monthly sales of two-wheelers over the past years. The adoption of China 6 emission norms has augmented the industrial upgrade of two-wheeler motorcycles that would further propel the demand for two-wheeler tires in the country.
According to MarkNtel Advisors’ research report, “China Two-Wheeler Tire Market Analysis, 2021,” the market is likely to attain a considerable CAGR during 2021-26 due to the growing popularity of shared mobility solutions, the rapid growth of electric motorcycles, and the increased purchase power of people. Besides, a significant surge in the number of logistics operators and e-commerce companies and expansion in two-wheeler fleet size due to robust urbanization are other crucial aspects that shall aid the growth of the China Two-Wheeler Tire Market during the forecast period.
Key questions answered in the study
Based on Vehicle Type, the Motorbike segment dominated the market and is very likely to maintain its dominance during 2021-26, primarily due to the surging government initiatives to increase the sales of low emission vehicles (electric motorcycles) to curb metropolitan area's pollution levels. Moreover, the growing production of motorcycles due to increasing discretionary income of people and surging exports of motorcycles are other essential factors likely to drive the Motorbike segment and fuel the overall market growth in the forecast period.
“China Two-Wheeler Tire Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Two-Wheeler Tire providers in China. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which would help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
OEMs Segment Acquired the Considerable Market Share
Amongst various installation types, the OEMs segment acquired the highest market share in the China Two-Wheeler Tire Market in the past few years. It owes to robust urbanization, the growing inclination of consumers toward cost-efficient & environmentally-friendly transport like e-scooters, and significantly surging sales of motorcycles. Hence, these aspects are likely to propel the OEM segment, thereby contributing to the overall market growth in the forthcoming years, reveals MarkNtel Advisors in their research report, “China Two-Wheeler Tire Market Analysis, 2021.”
According to MarkNtel Advisors, the major players with a considerable share in the China Two-Wheeler Tire Market are Hangzhou Zhongce Rubber, Michelin, Kumho, Bridgestone, Continental, Pirelli, Yokohama, Cheng Shin Rubber, Wuxi Weida Rubber Co. Ltd., etc.