Premium Two-Wheeler Tire Market [2028]: Market Share and Growth Trends

September 19, 2024

The global premium two-wheeler tire market is set to witness significant growth in the forecast period from 2024 to 2028, driven by multiple factors such as the increase in the number of completely knocked down (CKD) and semi-knocked down (SKD) units, the launch of advanced motorbike models, and the growing popularity of superbike communities.

Premium two-wheeler tires offer superior performance, safety, and riding experience, making them essential for high-performance motorbikes across various segments.

This report aims to provide a detailed analysis of the premium two-wheeler tire market, exploring key market segments, emerging trends, challenges, and growth opportunities.

Premium Two-Wheeler Tire Market Overview

Key Growth Drivers

The global premium two-wheeler tire market is primarily driven by:

Rising Popularity of Biking Culture: A surge in biking culture, particularly among the youth, has spurred the demand for high-performance two-wheelers and, consequently, premium tires.
Performance Advantages: Premium two-wheeler tires offer superior performance, such as better traction, lower rolling resistance, high-speed handling, and optimized control, which are major contributors to their demand.
Technological Advancements: Innovations in tire technologies, such as improved tread patterns and grooves for enhanced grip and safety, have further driven the market growth.
Increased Demand for Superbikes: The growing number of motorbike clubs and communities has led to a surge in the demand for superbikes, thus boosting the premium two-wheeler tire market.

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Premium Two-Wheeler Tire Market Segmentation

The global premium two-wheeler tire market can be segmented based on type, demand category, tire type, rim size, and regional distribution.

Segmentation by Type

1. Standard

Standard premium two-wheeler tires are designed for everyday use and offer a balance between performance, durability, and cost-efficiency. They are popular among commuters who need a reliable tire for daily rides.

2. Cruiser

Cruiser tires are designed for long-distance riding, offering enhanced comfort and durability. These tires are popular in markets with a growing cruiser motorcycle segment.

3. Sport

The sport segment is expected to witness significant growth, as sport bikes are increasingly favored by consumers for both recreational and professional purposes. Sport tires are designed for high speeds and superior traction on various surfaces.

4. Touring

Touring tires are optimized for long-distance travel and are designed to provide superior comfort, durability, and grip, making them ideal for travelers and motorbike enthusiasts.

5. Adventure Sport

Adventure sport tires are designed to offer excellent traction on a wide variety of surfaces, from paved roads to rough terrains. This segment is expected to grow as adventure biking gains popularity globally.

Segmentation by Demand Category

1. OEM (Original Equipment Manufacturer)

OEM tires are supplied directly to motorcycle manufacturers for use in new two-wheelers. This segment is influenced by the number of new vehicle launches and sales in the premium two-wheeler category.

2. Replacement

The replacement tire category is expected to witness significant growth in the coming years. As premium two-wheelers wear down their tires over time, there is a growing demand for high-quality replacement tires. Additionally, increased consumer awareness and the expansion of online and offline tire distribution channels are contributing to the growth of the replacement segment.

Segmentation by Tire Type

1. Radial

Radial tires are widely preferred due to their superior performance, especially at higher speeds. These tires offer better fuel efficiency, lower rolling resistance, and enhanced comfort, making them popular in the premium two-wheeler category.

2. Bias

Bias tires are used in certain categories of two-wheelers that do not require high-speed performance. These tires are generally more affordable and offer good durability but are less popular in the premium segment compared to radial tires.

Segmentation by Rim Size

1. Up to 16 inches

Tires with rim sizes up to 16 inches are typically used in standard and cruiser bikes. These tires offer a balance of comfort and control.

2. 16-17 inches

Tires with 16-17 inch rims are commonly found in sport and touring bikes. They provide better performance in terms of handling and speed.

3. Above 17 inches

Tires with rim sizes above 17 inches are often used in high-performance and adventure bikes. These tires are designed to handle various terrains and offer enhanced grip and control.

Regional Analysis of Premium Two-Wheeler Tire Market

The global premium two-wheeler tire market is distributed across several regions:

1. North America

North America is expected to witness steady growth in the premium two-wheeler tire market, driven by the rising demand for superbikes and premium motorcycles. Additionally, a growing biking culture and the presence of several high-income individuals contribute to the market's growth.

2. Europe

Europe holds a significant share of the premium two-wheeler tire market, particularly in countries such as Germany, France, and Italy, where there is a high demand for performance bikes. The increasing popularity of adventure biking in this region further fuels demand for premium tires.

3. Asia-Pacific

The Asia-Pacific region is poised for rapid growth, driven by a large youth population, increasing disposable incomes, and growing interest in motorbike sports and communities. Key markets in this region include India, China, and Japan, where demand for high-performance two-wheelers is increasing.

4. Middle East and Africa

Although a smaller market compared to other regions, the Middle East and Africa show promise due to the rising popularity of adventure and touring bikes in regions with open terrains. The growing consumer preference for premium two-wheelers contributes to the growth in demand for premium tires.

5. South America

The market in South America is also expected to grow, supported by increasing sales of premium two-wheelers, particularly in countries like Brazil and Argentina, where the biking culture is gaining traction.

Premium Two-Wheeler Tire Market Competitive Landscape

Key Premium Two-Wheeler Tire Market Players

The global premium two-wheeler tire market is highly competitive, with several leading manufacturers constantly innovating to meet evolving customer demands. Key players in the market include:

Compagnie Générale des Établissements Michelin
Pirelli & C. S.p.A.
Continental AG
Dunlop Tires
Bridgestone Tire Co., Ltd.
Apollo Tyres Limited
The Goodyear Tire & Rubber Company
Cheng Shin Rubber Ind. Co. Ltd.
INOUE RUBBER CO., LTD.
Kenda Rubber Industrial Company

Strategies Adopted by Market Players

Manufacturers are focusing on research and development (R&D) to improve tire performance, durability, and efficiency. Technological advancements such as enhanced tread patterns, reduced rolling resistance, and improved safety features are the focus of several market players. Companies are also adopting various strategies to strengthen their market presence:

Mergers and Acquisitions: Some leading companies are engaging in mergers and acquisitions to expand their global footprint and enhance their production capabilities.
Product Launches: New product launches, with an emphasis on technology and innovation, are common among major market players.
Expansion into E-Commerce: To meet rising consumer demand, companies are

expanding their presence in both online and offline retail channels, ensuring that premium tires are more accessible to consumers across various regions.

Emerging Trends in the Premium Two-Wheeler Tire Market

Increasing Consumer Preference for Online Shopping

The rise of e-commerce platforms has revolutionized the tire retail market, allowing consumers to research, compare, and purchase premium two-wheeler tires from the comfort of their homes.

This trend has been particularly beneficial for the replacement tire segment, as consumers now have access to a wide variety of brands, models, and prices online. Leading tire manufacturers are investing in digital platforms to boost their online presence and offer customers a seamless shopping experience, further contributing to market growth.

Sustainable and Eco-Friendly Tires

With growing environmental concerns and stricter government regulations on carbon emissions, the demand for eco-friendly and sustainable tires is on the rise. Manufacturers are developing tires made from sustainable materials, such as natural rubber and biodegradable compounds, to reduce the environmental impact of tire production and disposal.

Additionally, innovations aimed at improving fuel efficiency through lower rolling resistance align with the global push toward sustainability, attracting environmentally conscious consumers to premium tire options.

Advanced Tire Technologies

The development of advanced tire technologies, such as smart tires equipped with sensors, is an emerging trend in the premium two-wheeler tire market.

These tires provide real-time information on tire pressure, temperature, and tread wear, helping riders optimize performance and safety. Manufacturers are also focusing on creating tires with improved durability, puncture resistance, and longer lifespans, making premium tires more cost-effective in the long run.

Growing Popularity of Electric Two-Wheelers

The global shift toward electric vehicles (EVs) is influencing the premium two-wheeler tire market as well. As more consumers adopt electric two-wheelers, there is a growing need for tires that are specifically designed for EVs. These tires must provide higher energy efficiency, reduced noise levels, and greater durability to meet the unique demands of electric vehicles.

Premium tire manufacturers are expected to capitalize on this trend by developing EV-compatible tires with innovative features.

Customization and Personalization

The growing trend of vehicle customization has extended to the tire market, where consumers are increasingly seeking personalized options to match their unique preferences and riding styles. Premium tire manufacturers are offering a range of customizable tire options, including different tread designs, colors, and sidewall patterns, to cater to individual tastes.

This trend is particularly prevalent in the sport and adventure segments, where riders prioritize aesthetics and performance.

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Premium Two-Wheeler Tire Market Forecast and Future Opportunities (2024-2028)

The global premium two-wheeler tire market is expected to continue its growth trajectory over the forecast period, driven by a combination of factors including rising consumer disposable incomes, increased participation in motorbike sports, and the ongoing popularity of superbikes. Key opportunities for market growth include:

Expansion in Emerging Markets

Emerging economies, particularly in Asia-Pacific, Latin America, and Africa, present significant growth opportunities for premium two-wheeler tire manufacturers. The increasing affordability of premium motorcycles and the growing middle-class population in these regions are expected to fuel demand for high-performance tires. Companies that can tap into these markets with affordable, yet premium offerings are likely to experience substantial growth.

Investment in Research and Development (R&D)

As competition intensifies, investment in R&D will be crucial for market players looking to differentiate themselves. Manufacturers that prioritize the development of innovative tire technologies, such as smart tires, eco-friendly materials, and enhanced safety features, will be well-positioned to capture a larger share of the premium tire market. Collaborations with motorbike manufacturers to develop tires tailored to specific models and performance requirements will also create new growth opportunities.

Focus on Aftermarket Services

The replacement segment of the premium two-wheeler tire market offers substantial growth potential, particularly as more consumers opt to replace their tires with premium options after the original tires wear out. Companies that can establish a strong presence in the aftermarket sector by offering superior service, warranties, and value-added benefits will benefit from long-term customer loyalty and increased sales.

Partnerships and Collaborations

Strategic partnerships between tire manufacturers, motorbike brands, and dealerships can enhance product visibility and increase sales. Collaborative efforts to launch co-branded products, promote premium tire options through dealerships, and expand distribution networks will help manufacturers reach a wider audience and increase their market share.

Conclusion

The global premium two-wheeler tire market is poised for significant growth in the coming years, driven by factors such as rising consumer demand for high-performance motorcycles, increasing awareness of tire quality, and technological advancements in tire manufacturing.

Despite challenges such as raw material price volatility and supply chain disruptions, the market is expected to thrive, particularly with the rise of e-commerce and the growing demand for sustainable and eco-friendly products.