North America Two Wheeler Tire Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.45 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Two Wheeler Tire Market Analysis
The North America 2-Wheeler Tire Market is anticipated to register a CAGR of about 4.45% during the forecast period (2020 - 2025).
- 2-Wheeler Tire has always remained in demand, and with more extensive ownership of personal 2-Wheelers and growing technological advancements, the demand for these will only increase. A surplus amount of income is spent by North American nations when it comes to purchasing motorcycles. According to the Bureau of Transportation Statistics, over the past 12 years, motorcycle registrations in the U.S. have increased from 3,826,373 in 1997 to 6,678,958 in 2006, which indicates an overall increase of tires needs for motorbike segment.
- Another factor responsible for the growth in the adoption of cutting-edge manufacturing technology by OEMs that offer product differentiation through sustainability, durability, and affordability. For instance, demand for retreading of tires is increasing as it reduces the operating cost in the after-market, preventing tires from a complete replacement, and thereby, is a cost-effective option.
- But in the U.S., motorcycles sales have now remained stagnant for a long duration. Also, companies like Harley-Davidson Inc. have also seen a slip in its motorcycle sales in 2019 despite new models and expanded overseas operations. However, E-bike sales have been growing steadily over the years, but they still only represent a small portion of the overall bike market in the U.S. As a result, 2-wheeler Tire manufacturers are exploring opportunities in the E-bikes market as well.
North America Two Wheeler Tire Market Trends
This section covers the major market trends shaping the North America Two Wheeler Tire Market according to our research experts:
E-bikes will Push the Growth of the 2-Wheeler Tire Market
Cities like New York, Los Angles have jam-packed roads. With the increasing number of vehicles, the existing infrastructure is unable to meet needs in every street and lanes. Traffic congestion inhibits the productivity of people with a lot of time lost waiting. As a result of many of the states situated in warmer regions in the United States are seeing an increased sale for 2-wheeler as they occupy lesser space resulting in minor traffic jams.
E-bike remains the fastest-growing segment for the 2-wheeler market. As a result, 2 - wheeler tire manufactures today are heavily investing in advanced tires which can both lightweight and safe to accommodate for the E-bikes in the near future
Wheels for E-bike come in many different sizes, ranging from 12 inches to massive 29 inches in diameter. E-bikes are majorly equipped with a 16", 20", or 26'-inch diameter wheel. For instance, the electric cruiser bike by Tower comes equipped with a 26-inch diameter wheel. 16-Inch Electric Bike Wheel is typically found on folding electric bikes, being lightweight, and meant to fold together so they can easily be transported. While 26-Inch Electric Bike Wheel is more commonly found on an electric bike. They are used as mountain bikes and also beach cruisers.
With such a wide range of options and growing government incentives towards E-vehicles, North American countries will see a greater demand for E-bikes wheels as well.
United States Holds the Largest Share for 2-Wheeler Tire Market
In the United States, motorcycles sales had been peaking until 2006. In 2006, over 1.1 million units were sold in the United States alone. However, in 2008's financial crisis, the market took a heavy blow, with which sales plummeted to less than half the previous fiscal year. Although, the stock markets for major 2-wheeler companies have today recovered, although they have stayed stagnant since 2012.
Also, since the United States is a motorbike dominant industry compared to scooters or mopeds, the aging demographic is a bad sign and has propped the growth. Recent figures also suggest, only a few youngsters will enter the Bikes segment. Declining, over 500cc motorcycles segment is also an indication suggesting the fall in sales for subsequent tire sold for these 2-wheelers.
Although, in developing countries such as the United States, several programs and projects have been initiated, such as Corporate Average Fuel Efficiency (CAFE) standards, by decreasing CO2 emissions.
As a result, the United States has also experienced impressive growth in ownership towards E-Bikes. Government subsidies are aiding the purchasing prices of E-Bikes with states such as California and Florid registering over 90% growth in 2019. In the United States alone, E-bike sales jumped by an incredible 91 percent from 2016 to 2017 and then another 72 percent from 2017 to 2018 to reach an impressive $143.4 million
Although the 2-wheeler Tires market will not reach the expectations for the motorbikes segment, however, E-bikes remain a possible profitable alternative to bike manufacturers.
North America Two Wheeler Tire Industry Overview
The North America 2-Wheeler Tire Market is consolidated with existing market players such as Apollo Tyres Ltd, BFGoodrich, Cooper, Dunlop, Firestone, General, Goodyear, Michelin, and Yokohama, which hold the most significant shares. To have the edge over its competitors' companies are making joint-ventures, partnerships, launching new products with advanced technology.
North America Two Wheeler Tire Market Leaders
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Apollo Tires
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Dunlop Tires
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Coker Tires
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Cooper Tire
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BfGoodrich Tire
*Disclaimer: Major Players sorted in no particular order
North America Two Wheeler Tire Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Vehicle Type
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5.1.1 Motorcycle
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5.1.2 Scooter/Moped
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5.2 Sales Channel
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5.2.1 OEMs
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5.2.2 Aftermarket
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6. Geography
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6.1 North America
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6.1.1 United States
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6.1.2 Canada
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6.1.3 Rest Of North America
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7. COMPETITIVE LANDSCAPE
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7.1 Vendor Market Share
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7.2 Company Profiles
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7.2.1 Apollo Tires
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7.2.2 BfGoodrich
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7.2.3 Cooper Tires
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7.2.4 Coker Tire
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7.2.5 Dunlop Tires
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7.2.6 Michilen
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7.2.7 MRF
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8. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Two Wheeler Tire Industry Segmentation
The North America 2-Wheeler Tire Market report covers the latest technology trends, government regulations on the 2-Wheeler Tire Market, and market share of major automotive bearing manufacturers across North America.
| Vehicle Type | |
| Motorcycle | |
| Scooter/Moped |
| Sales Channel | |
| OEMs | |
| Aftermarket |
North America Two Wheeler Tire Market Research FAQs
What is the current North America 2-Wheeler Tire Market size?
The North America 2-Wheeler Tire Market is projected to register a CAGR of 4.45% during the forecast period (2024-2029)
Who are the key players in North America 2-Wheeler Tire Market?
Apollo Tires, Dunlop Tires, Coker Tires, Cooper Tire and BfGoodrich Tire are the major companies operating in the North America 2-Wheeler Tire Market.
What years does this North America 2-Wheeler Tire Market cover?
The report covers the North America 2-Wheeler Tire Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America 2-Wheeler Tire Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America 2-Wheeler Tire Industry Report
Statistics for the 2024 North America 2-Wheeler Tire market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. North America 2-Wheeler Tire analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
