Riding the Future: Global Motorcycle Tires Market Accelerates to US$ 12.7 Bn by 2031, Surging at a 7.2% CAGR – Market Outlook 2031

The global motorcycle tires market is experiencing a significant upswing, with a valuation of US$ 6.8 billion in 2022. Projected to grow at an impressive CAGR of 7.2% from 2023 to 2031, the market is expected to reach US$ 12.7 billion by the end of 2031. A key driving force behind this growth is the increasing demand for sustainable and eco-friendly products, aligning with consumers’ growing ecological consciousness.

Market Size and Growth

As consumers prioritize eco-friendly options, the motorcycle tires market is witnessing substantial growth. This trend is complemented by technological advancements, including the introduction of smart tires and AI-based tire monitoring systems, contributing to the market’s evolution.

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Market Segmentation

By Service Type

The motorcycle tires market encompasses various service types, catering to the diverse needs of riders. Understanding these service types is crucial for a comprehensive analysis of the market dynamics.

By Sourcing Type

Sourcing types consider the origin and production methods of motorcycle tires. This segmentation examines factors such as raw material sources, manufacturing processes, and sustainability practices.

By Application

The application segment delves into the specific uses of motorcycle tires, ranging from sports touring and adventure touring to cruisers and street sports. Analyzing these applications provides insights into the market’s versatility.

By Industry Vertical

Different industry verticals, including sports, tourism, and manufacturing, contribute to the demand for motorcycle tires. The market’s growth is intricately linked to the development and expansion of these sectors.

By Region

Regional analysis is pivotal for understanding variations in demand, regulatory landscapes, and riding preferences that influence the motorcycle tires market. Key regions include Asia-Pacific, North America, Europe, and others.

Regional Analysis

Asia-Pacific stands out as a major player in the motorcycle tires market, driven by its robust motorcycle industry and diverse riding preferences. North America and Europe also contribute significantly, each offering unique regional factors shaping market trends.

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Top of Form

Market Drivers and Challenges

Market Drivers

1. Eco-Friendly Preferences: Growing consumer concerns for the environment drive the demand for sustainable and eco-friendly motorcycle tires.
2. Technological Advancements: The emergence of smart tires and AI-based monitoring systems reflects the continuous evolution of the market.

Market Challenges

1. Environmental Impact: Despite eco-friendly preferences, the production and disposal of motorcycle tires may still have environmental implications, prompting the industry to explore more sustainable solutions.
2. Safety and Performance: Manufacturers face the challenge of balancing safety standards with rider expectations for outstanding grip, stability, and handling.

Market Trends

Innovation and Safety

Manufacturers are investing heavily in Research and Development (R&D) to develop new products, with a specific focus on electric motorcycles. The emphasis is on creating high-quality tires that adhere to global safety standards while offering exceptional performance.

Future Outlook

The future of the motorcycle tires market looks promising as industries continue to evolve, and consumers place a higher value on safety and sustainability. The adoption of advanced technologies and the development of innovative products for electric motorcycles present lucrative opportunities.

Key Market Study Points

1. Electric Motorcycle Integration: A comprehensive study on the integration of motorcycle tires with electric motorcycles, exploring the unique demands and opportunities in this emerging market.
2. Distribution Networks: An analysis of manufacturers’ efforts to enhance distribution networks, forge alliances, and ensure their products reach a broader customer base.

Competitive Landscape

The motorcycle tires market features prominent players, including Anlas, Apollo Tyres Ltd., Bridgestone Corporation, Continental Corporation, Dunlop, Goodyear Tires, Michelin, Pirelli and C. S.p.A, TVS Srichakra Limited, and others. These companies lead the industry in innovation, safety, and sustainability.

Recent Developments

1. Apollo Tyres’ Tramplr Line: In September 2022, Apollo Tyres introduced the Tramplr line of tough off-road and Enduro Street tires for the Indian premium motorbikes market, catering to sports touring, adventure touring, cruisers, and street sports.
2. Michelin’s Road 6 Sport Touring Tyre: In January 2022, Michelin unveiled the MICHELIN Road 6 Sport Touring Tyre, offering enhanced durability, better wet traction, and improved aesthetics for roadster, trail, sports, and GT motorcycles.
3. TVS Srichakra’s Euro Grip Tires: In April 2023, TVS Srichakra Ltd. unveiled TVS Euro grip tires for the superbike and adventure touring markets, designed for high performance on Indian roads.

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