Market Size of North America 2-Wheeler Tire Industry
| 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 |
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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.
