In 2019, the global two-wheeler tyre market stood at 453.15 million units, while the Indian market share was 90.14 million. The global market is expected to grow at a CAGR of 9.81% until 2025, projects a study by TechSci Research. The Indian growth rate would be at a CAGR of 12.31% during the forecast period..

The rise in demand for two-wheelers, expanding two-wheeler fleet size, and more importantly, increasing in per capita income of the population across the globe are the major factors contributing to the growth of two-wheeler tyre market. An increase in sales of two-wheelers and government initiatives to supplement the growth of electric two wheelers are fuelling the growth of the two-wheeler tyre market globally, the latest research findings by leading market analysts TechSci Research say.

Many people in urban cities choose two-wheelers rather than cars to avoid traffic for timesaving. Moreover, an increase in affordability of motorcycles along with many available finance schemes and EMI options have also augmented sales of two wheelers. Secondly, rise in consumer’s buying capacity and obsession among youth for two-wheelers are the main reasons for growth in demand for two-wheeler, which is further creating demand for two-wheeler tyres.

Increasing usage of the motorcycles as a more suitable mode of transport compared to public transport and extensive usage in business activities by various e-commerce companies are other major factors driving the growth of two-wheeler tyre market. Regular and increased use of two-wheelers is expected to increase the rate of replacement, which in turn is anticipated to positively influence the demand for replacement tyres used in motorcycle, scooters, and mopeds, etc.

Big players: India, China

Globally, the two-wheeler market is majorly dominated by the Asia Pacific. Two of the major countries that are the prominent player in the Asia Pacific region are India (largest player in the world) and China. Thus, these countries account for the highest number of sales in two-wheeler (India 2019 sales were 21 million and China 2019 sales were 16 million) as well as two-wheeler tyres. Both counties account for over more than 80% in the global two-wheeler tyre market. Other emerging markets for two-wheeler tyres include Indonesia, Vietnam, Japan, Thailand, etc.

Globally, electric and conventional two-wheeler manufacturers are paying more attention to the increasing demand for two-wheelers from various commercial sector. Motorcycle manufacturers are producing motorcycles for commercial demand in many regions. Major demand has been witnessed in regions such as Africa where bikes are a commonly used mode of transport for taxi services. Hence, an overall increase in the sales of two-wheeler bike taxis is expected to boost the sales of two-wheeler tyres.

One more major factor that has been augmenting demand for two-wheelers across the globe is poor road conditions in many countries in Asian and African regions. A large demand for two-wheelers comes from the countries in the Asia-Pacific region from countries such as India, China, Bangladesh, Vietnam, Indonesia, etc., where the road infrastructure is not properly developed, which is promoting adoption of motorcycle compared to cars and other four-wheelers. Poorly constructed and broken roads are also one of the reasons for the replacement of tyres before the expected run time. This are some of the factors fuelling the demand for two-wheeler tyres across these regions, the study report points out.

Corona factor

Additionally, the outbreak of coronavirus had a high impact on the two-wheeler industry resulting in fall in the demand of two-wheelers, which has further led to decline in sales of two-wheeler tyres. Many of the major global two-wheeler manufacturers companies such as Hero MotoCorp, TVS, Bajaj Auto have stopped manufacturing for a month or more in many of the big countries such as India, thereby witnessing a slowdown in the production and sales of two-wheelers. All these companies have faced the demand contraction, which is expected to continue over the coming years due to which, companies are facing a decline in sales, compared to previous year, every month. The sales currently are only being driven by limited customers, who are trying to avoid public transport, especially the office and business users but this is not enough for the companies to sustain in the global market. After COVID-19 lockdowns is lifted, companies are expecting two-wheeler sales to recover to somewhat pre COVID-19 sales levels. Thus, this would directly impact the market for two-wheeler tyres also.

The demand for a two-wheeler tyre originates from two sectors – Original Equipment Manufacturer (OEM) and replacement demand for tyres. Additionally, global expansion of two-wheeler sales networks by major two-wheeler manufacturers to target those countries where they have less presence, increasing purchasing power of people in developing countries and preference for two-wheelers over other vehicles due to underdeveloped road infrastructure, especially in developing countries is expected to boost the demand for OEM tyres as two-wheeler sales increase. On the other hand, due to the consistent increase in the fleet size of motorcycle, scooters and mopeds is expected to fuel the demand for replacement tyres for two-wheelers.

The TechSci Research study says that in the global two-wheeler tyre market, replacement tyre demand held a dominating market share of around 72.11%, which is projected to reach 73.38% by 2025. Analysing the global market share of two-wheeler tyres by vehicle type, scooters and mopeds tyres hold major market share among two-wheeler tyres followed by motorcycle tyres. This is due to the increasing usage of scooters and mopeds for private transportation by majority of population such as for office goers, college students, etc.

Major players

The global two-wheeler tyre market is dominated by many big players. Many companies operating in the global two-wheeler tyre market are strengthening their dealer/distributors networks and also focusing on customer requirements for different driving conditions. Major companies operating in the global two- wheeler tyre market include MRF, Giti Tyre, Hangzhou Zhongce Rubber, TVS Srichakra Limited, CEAT Limited, Michelin, Continental, etc.

Asia-Pacific has become a leading manufacturing and consumption hub for two-wheeler tyres owing to the largest fleet size and highest sales in the world. Additionally, the region holds the largest market share in the market. It is anticipated that the market share of the region in two-wheeler tyres market is expected to reach 89.02% by 2025 from 88.30% in 2019.

The global two-wheeler tyre industry is anticipated to exhibit significant growth during the forecast period as new manufacturers are entering the tyre as well as two-wheeler industry, income of the population is increasing, urbanisation is on the rise, global manufacturers are expanding their market presence across the untapped areas, etc. These factors are anticipated to supplement the sales of two-wheelers and two-wheeler tyres across the globe until 2025.

Indian scene

According to the TechSci Research report, in 2019, India two-wheeler tyre market stood at 90.14 million units and is expected to grow at a CAGR of 12.31% during the forecast period.

The scooter tyre market is increasing quickly in India over the last few years. An increase in the number of working females is also rising the demand for scooters as it is a user-friendly vehicle. And further is also adopted by many commuters due to easy driving and stock carrying capability.

The government is also taking initiatives for people, which is also driving the sales of two-wheeler in some southern states of India which is directly impacting the tyre industry, says the report.

Additionally, the government took steps and have introduced a program known as Amma bike schemes, which focuses on every working woman in Tamil Nadu for providing a subsidy of 50% i.e., up to INR25,000 on purchase of two-wheelers. Therefore, sales of two-wheelers in the states have gone up after the introduction of this scheme.

India electric two-wheeler market is growing continuously owing to government’s support and some subsidies which come under “FAME India” scheme and phased manufacturing programme (PMP), which will help promote the manufacturing of electric vehicles domestically. To provide further boost to electric mobility and to enhance and promote the development of electric vehicles, the government has further reduced basic customs duty on electric vehicles and their assemblies, parts, and subparts. In India, electric two-wheeler manufacturers are diverting their focus on research and development to manufacture technologically advanced and affordable electric two-wheelers, which is further expected to drive the electric two-wheeler market in India during the forecast period. This is expected to lead to robust growth in India two-wheeler tyre industry as well.

The lockdown that was put by the Government of India in March 2020 to restrict the COVID19 spread in India has affected the two-wheeler industry resulting in dropping down the sales of two-wheelers over the last 3 months. However, the two-wheeler industry is likely to recover slowly as the lockdown restrictions have been eased by the government but the overall market will take at least next year to recover.

Analysing the market share of two-wheeler tyres in India, motorcycle tyres hold major market share among two-wheeler tyres. This is due to the usage of motorcycles in private mode of transportation by most middle class and lower middle-class population, by delivery services, by restaurant delivery services and also, motorcycles are the most commonly used sharing bikes by most of the ride hailing companies such as Uber bike and Ola bike for transportation services. Scooters and mopeds which are majorly used by girls are comparatively less in numbers than motorcycle users but in future, the trend is expected to change as more population is shifting toward the scooters and mopeds as they are easy to handle and also gearless, which provides convenience in Indian traffic.

ENDS

Bridgestone will supply tailored-made tyres for Lamborghini’s Huracán STO, which will be launched in 2021.

Bridgestone ensured the high-performance tyre can maximise the Huracán STO’s traction, handling, control, and extreme overall performance.

Key to the tyre’s success in maximising the super sports car’s performance is the combination of pattern and cavity design. The Potenza tyres apply an asymmetric tread design for enhanced steering response and cornering stability, and an internal crown structure that distributes footprint pressure evenly when cornering.

As well as the road-focused, custom-developed Potenza fitment, Bridgestone will also be providing a track-oriented, road-homologated version of the tyre that applies “race” technologies to maximise the vehicle’s track performance, especially in dry conditions.

Steven De Bock, VP Consumer Replacement and OE at Bridgestone EMIA, said, “It’s been a pleasure for our team to work so closely with Lamborghini for the first time, and on such an exciting project. The Huracán STO is an incredible piece of engineering that deserves a custom tyre that can fulfill its full potential. I can proudly say that Bridgestone has delivered such a high-performance tyre. It has been fantastic for the team to have worked on a project that is at the forefront of technology in so many ways.”

Hankook, one of the major global tyre brands, has started testing and development operations at its new ultra modern facility in Spain.

The testing facility has been set up on the premises of the Applus+ IDIADA Group and can also cater to European premium car manufacturers that have their own demanding tyre tests. The facility is completely automated and will host a 20-member team from the Spanish testing centre, which is affiliated to the Hankook Europe Technical Centre.

Klaus Krause, Head of European Research and Development Centre, said, "With the further expansion of our testing capacities in Spain, we are reaching the next level together with our local partner Applus+ IDIADA."

He also added, "We are confident that the newly installed testing facilities in particular will significantly improve our efforts to provide the best tyre testing conditions and services to our employees and customers. In addition, we will also be able to conduct significantly more tests on site." (TT)

ASCENSO introduced a construction tyre - BLB 730- which is used for boom lift vehicles used in construction and other industries. It comes with several features that cater to the unique needs of aerial lifting equipment.

The BLB 730 tyre is available in different sizes to fit various boom lift vehicles. This range of sizes provides versatility and compatibility with different types of aerial lift work platforms.

“ASCENSO's BLB 730 tyre is a significant advancement in specialised equipment for the construction industry. It focuses on load capacity, stability, traction, and durability to improve the performance and safety of boom lift vehicles. Whether working at heights or manoeuvring on tough terrains, this tyre offers reliability and durability for efficient operations,” said the company in a statement.

The BLB 730 tyre is built to handle heavy loads and stabilise boom lift vehicles. It has solid lugs and a more extended shoulder design, which ensures good traction and prevents slipping during operation. This is important for safely carrying heavy weights at high elevations. ASCENSO has used a special rubber compound in making the BLB 730 tyre, making it durable and long-lasting, resulting in less downtime and more productivity on construction sites.

To make the tyre even better, the company has optimised its inner volume to reduce tyre fill consumption, reducing the risk of tyre punctures, minimising the need for maintenance, and keep the vehicles running smoothly.

Falken Tyre Europe is an official IHF Men's World Championship 2023 partner for the upcoming tournament, the company has announced. The tournament is taking place at nine venues in Sweden and Poland from 11-29 January, 2023. Falken Tyre claims that the partnership was organised by the sports marketing agency SPORTFIVE. SPORTFIVE is responsible for exclusive marketing and media rights for all IHF World Championships until 2031.

Falken Tyre claims that this is its second agreement with the International Handball Federation. In addition to title and logo rights (Official IHF Men's World Championship 2023 Partner), the company has also secured advertising rights, including the Falken logo in each goal and centre circle of the courts, as well as the presence of Falken branding in the official tournament social media communications and print materials. According to Falken Tyre, this is complemented by 30-second video ads that will be shown on the big screens in the nine sports halls before the start of each match and at half-time.

Sharing his views, Robert Müller von Vultejus, Chief Growth Officer at SPORTFIVE, said, “With Falken, the IHF World Handball Championships have secured a great partner who is positioned with far-reaching influence in the relevant core markets. We are delighted to have been able to bring two global partners together for one of the most exciting sporting events of next year.”

Markus Bögner, COO and President of Falken Tyre Europe GmbH, explained, “Handball isn’t just of great importance in Europe, but all over the world, which has led us to partake in this top-level tournament once again. The fact that the international tournament is taking place in countries that are among our core markets is another great reason for our involvement. We can also look back on a long partnership with our colleagues at SPORTFIVE, who always offers us excellent opportunities that are an excellent fit for the Falken brand, which stands for enthusiasm, performance and achievement.”