India Two-Wheeler Tire Market to grow at a CAGR of 15% in the forecast period of 2021-26

According to MarkNtel Advisors' research report, "India Two-Wheeler Tire Market Analysis, 2021," the market is likely to grow at a CAGR of 15% in the forecast period of 2021-26. It owes prominently to the rapidly increasing number of automobile sales during the recent few years. The factors like urbanization, rising disposable income, rural development, and a flooding middle-class population lead to the rising demand for two-wheelers in India and propelling the tire market.

Moreover, the jamming traffic and lack of parking space in metro cities due to the burgeoning number of cars are other crucial aspects inclining commuters toward adopting two-wheelers, thereby boosting the India Two-Wheeler Tire Market exponentially.

Key Questions Answered in the Study

1. What are the current and future trends in the India Two-Wheeler Tire Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the India Two-Wheeler Tire Market?
5. What are the customer orientation, purchase behavior, and expectations from the India Two-Wheeler Tire Market service providers across various regions?

Bias Tires to Witness the Fastest Growth in the India Two-Wheeler Tire Market 

Based on the Type of Tires, the India Two-Wheeler Tire Market bifurcates into Bias Tires & Radial Tires. Among the two, the Bias Tires are more likely to attain the fastest growth in the forecast years of 2021-26. It owes prominently to its core nature of providing a smoother ride on rough surfaces than radial tires. Besides, Bias tires are less expensive, more stiff & rigid, and give tough competition to radial tires.

Furthermore, in India, Bias Tires command the overall market because of their low ownership costs. Therefore, Bias Tires are very likely to dominate the India Two-Wheeler Tire Market with a CAGR of approximately 6.84% and attain the fastest growth in the forecast years.

"India Two-Wheeler Tire Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Two-Wheeler Tire providers across the country. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

Uttrakhand to Attain the Fastest Market Growth

The Uttrakhand state of India is likely to attain the fastest growth in the India Two-Wheeler Tire Market during the forecast period. It owes to the rapidly increasing inclination of the women populace toward riding scooters in the state. Besides, the increasing number of working women & finance penetration is another critical aspect fueling the overall market in the forecast period.

While two-wheelers remain the prime choice of the maximum population in Uttrakhand, manufacturers in the state are likely to attain the fastest growth in the coming years. Moreover, the cutbacks in tax deductions are also propelling the growth of tire manufacturing companies in India, especially in Uttrakhand, states MarkNtel Advisors in their research report, “India Two-Wheeler Tire Market Analysis, 2021.”

According to MarkNtel Advisors, the leading players in the India Two-Wheeler Tire Market are MRF, Apollo, CEAT, TVS Srichakra, Michelin India Pvt. Ltd., Bridgestone India Pvt. Ltd., Pirelli, JK Tires & Industries Ltd., Ralco Tires, Maxxis Tires.

Market Segmentation:

1. By Type of Two Wheeler (Scooter, Motorcycle, Moped, Electric Scooter, Electric Motorcycle)
2. By Engine Power (Up to 100 CC, 101 to 110 CC, 111 to 125 CC, 126 to 150 CC, 151 to 200 CC, 201 to 250 CC, 251 to 350 CC, 351 to 500 CC, 501 to 700 CC, Above 700 CC, Electric)
3. By Rim Size (F10 R10, F11 R10, F12 R10, F12 R12, F12 R18, F14 R12, F14 R14, F16 R16, F17 R17, F17 R16, F17 R15, F18 R18, F18 R17, F18 R16, F19 R16, F19 R17, F19 R18, F19 R19, F21 R17, F21 R18, F21 R19)
4. By Leading Manufacturers of Two-Wheelers (Hero, Honda, TVS, Bajaj, Yamaha, Suzuki, Royal Enfield, KTM, HusQVarna, Piaggio, Others)
5. By Type of Tire (Bias, Radial)
6. By Vehicle Fuel type (Petrol/Gas, Electric)
7. By Demand Type (OEM (Hero, Honda, TVS, Bajaj, Yamaha, Suzuki, Royal Enfield, KTM, HusQVarna, Piaggio, Others), Replacement)
8. By Sales Channel (Online, Multi-brand Stores, Exclusive Outlets)
9. By Region (North, East, West, South)
10. By Leading Cities (Mumbai, Delhi, Bangalore, Hyderabad, Ahmedabad, Chennai, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur, Indore, Thane, Bhopal)
11. By Competitors (MRF, Apollo, CEAT, TVS Srichakra, Michelin India Pvt. Ltd., Bridgestone India Pvt. Ltd., Pirelli, JK Tyres & Industries Ltd., Ralco Tyres, Maxxis Tires)