Press Release

Malaysia Two-wheeler Tire Market to Register Robust Growth Due to Rising Consumer Inclination Towards E-mobility

The Malaysia Two-wheeler Market is projected to grow at a CAGR of 5.46% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The growing inclination of consumers towards e-mobility for personal use is emerging as an opportunity area for the unit sales of two-wheeler tires in the country. In 2021, the government announced its target to achieve carbon neutrality by the year 2050, under which the government is encouraging individuals & end-users to gradually shift to electric two-wheelers by offering them incentives such as tax benefits and waivers, which increase the market growth for two-wheeler tires across the country.

The growing usage of two-wheelers for business purposes, which includes miles’ delivery services, is another factor supporting the sales of scooters and motorcycle tires in the country due to the wide usage of these two-wheeler vehicles led to wear & tear of tires that require replacement for tires and increase the market for two-wheeler tires.  Furthermore, the individuals of the country are adopting two-wheelers for their personal use for daily commuting purposes, which also creates demand for tires, thus encouraging market expansion, further states the research report, “Malaysia Two-wheeler Tire Market Analysis, 2024-30.”

Malaysia Two-wheeler Tire Market Segmentation Analysis

Demand for Replacement Tires is Expected to Dominate the Market

Based on the Demand Type segment, the market is further bifurcated into OEM and Replacement. Private vehicle ownership and the increasing sales of scooters and motorcycles in the country are the prominent factors that increase the Replacement tire demand across the Malaysia Two-wheeler Tire Market. The government initiatives supporting the growth for the adoption of electric two-wheelers further enhance the market share and also raise sales of EVs in the country's demand for replacement of tires, which is likely to contribute to an upgrade in the market of two-wheeler tires in the country.

Radial Tire Segment to Lead the Industry

Based on the Tire Type segment, the market is further bifurcated into Radial and Bias. The Radial tire holds a significant share in the Malaysia Two-wheeler Tire Market due to enhanced traction, superior fuel efficiency, and improved stability, augmenting the preference for radial tires. Also, the replacement & original equipment manufacturers (OEM) of tires are increasingly adopting radial tires, upscaling the demand for the radial tire segment.

Moreover, the manufacturers are focusing on high-margin premium motorcycle models equipped with radial tires due to smoother and more comfortable rides than bias tires. Also, they are more fuel efficient have a longer life span, and are more resistant to punctures. Therefore, these tires are a preferred choice among consumers and automobile manufacturers.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Bridgestone Tyre Sales (Malaysia) Sdn Bhd, Continental Tires, Michelin Tires Co., Ltd., Pirelli Tires, Maxxis Tires, Kenda Tires, Inoue Rubber Co., Ltd., Vee Rubber, TVS Eurogrip, Yokohama TWS, others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Malaysia Two-Wheeler Tire Market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography and product adoption?
5. How has the competition been shaping across the country?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?