Press Release

Two Wheeler Tires Demand to Uplift Owing to the Rapid Urbanization in South America

The South America Two Wheeler Tire Market is projected to grow at a CAGR of around 12.25% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The surge in urbanization & the need for affordable transportation options have made motorcycles & scooters popular choices for commuting in congested urban areas. Rapid urbanization in South America is fueling the demand for Two Wheeler Tires. As urban areas expand & populations grow, the need for efficient & convenient transportation options has become paramount.

Owing to this, two-wheelers, such as motorcycles & scooters, have emerged as popular choices for navigating through congested cities & towns due to their affordability, ease of maneuverability, and ability to reach destinations faster than cars. This has led to a surge in the number of two-wheelers on the roads, consequently driving up the demand for tires, specifically designed for these vehicles. The demand for Two Wheeler Tires in South America is further bolstered by the ongoing infrastructure development, including the construction of new roads & the improvement of existing transportation networks.

As urbanization continues to shape the region's landscape, individuals are increasingly relying on two-wheelers as a cost-effective & time-efficient mode of transportation. Consequently, the market for Two Wheeler Tires is experiencing significant growth as riders seek high-quality tires that offer superior grip, durability, and safety, further states the research report, "South America Two Wheeler Tire Market Analysis, 2023."

Motorcycles Dominate the South America Two Wheeler Tire Market

Based on Vehicle Type, the market is bifurcated into Scooters & Moped and Motorcycle. Among them, motorcycles are the primary vehicle type driving the demand for Two Wheeler Tires in South America due to their greater maneuverability & versatility across diverse terrains. They are extensively used for commuting, delivery services, and off-road adventures, offering riders the ability to navigate through congested city streets, reach remote areas, and handle various road conditions.

Additionally, with their higher engine capacity & capability to carry heavier loads, motorcycles provide a preferred choice for many riders seeking efficient & reliable transportation options. Owing to which motorbikes with engine capacities ranging between 101cc to 125cc & 126cc to 150cc are among the most preferred choice among Brazilian consumers.

Simultaneously, the launch of both domestic & international motorbike events in the country is further augmenting the sales of off-road bikes & other sports bikes in Brazil. This is expected to further facilitate the demand for motorbike tires in the country in the forecast period as well.

Brazil to Dominate in the South America Two Wheeler Tire Market

The substantial penetration of scooters & motorbikes in the country for daily commuting & recreational purposes is widely driving the sales of Two Wheeler Tires in Brazil. In addition to this, with the growing dominance of quick commerce in the country & surging mobility needs among both residents as well as tourists, the country is witnessing a rise in expansion activities by e-commerce & mobility service providers such as Justo Grabs, Riba Motos, etc.

Further, to grab the emerging opportunity, two-wheeler manufacturers such as Pirelli, Michelin, Maggion, Levorin, Metzeler, Bridgestone, and Dunlop, among others, are increasing & expanding their production & distribution activities in the country. Thus, the growing expansion is expected to further support the sales of Two Wheeler Tires in the country during the forecast years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Michelin, Bridgestone, Pirelli, Dunlop, Maggion Tires, Borilli, Rinaldi Tires, Pneus Technic, Maxxis, Kenda Tire, and 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 market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various regions?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
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?