China is among the leading countries in the production and sales of the motorcycle. The country surpasses India in monthly sales of two-wheeler over the past years. Moreover, the adoption of China 6 emission norms has augmented the industrial upgrade of two-wheeler motorcycles which would further propel the demand for the 2-wheeler tire in the country. The factors for the growth of China Two-wheeler tire market are the growing popularity of shared mobility solutions, the rapid growth of the electric motorcycle and increased purchasing power of the people. Besides these, a significant surge in the number of logistics operators and e-commerce companies along with expansion in two-wheeler fleet size due to robust urbanization is attributed to the growth of the two-wheeler tire market in the forecast period.
Key questions answered in the study
According to MarkNtel Advisors’ research report “China Two-Wheeler Tire Market Analysis, 2021”, the market is anticipated to grow at a considerable CAGR during 2021-26. Based on Vehicle Type, the Motorbike segment dominated the market and is anticipated to maintain its dominance by 2026. The factors leading to the growth of the segment are growing government initiative to increase the sales of low emission vehicles such as electric motorcycle in order to curb the pollution of the metropolitan area, growing production of the motorcycle due to increase in discretionary income of the populace and surge in the export of motorcycle. Hence, this is further projected to fuel the tire demand in the country during 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 across the Region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
OEMs Segment Acquired the Considerable Market Share
Based on Installation, the OEMs segment acquired the highest market share in the China Two-wheeler tire market in 2019. The growth is accredited to robust urbanization, growing consumer reference inclination toward cost-efficient and environmentally-friendly transport such as e-scooters and a significant surge in the sales of motorcycles. Thus, this is expected to proliferate the growth of OEM tire in the forthcoming years as revealed by the MarkNtel Advisors’ research report “China Two-Wheeler Tire Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market 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.