The South America Two Wheeler Tire Market is projected to witness significant growth during the forecast period of 2023-2028, with a projected compound annual growth rate (CAGR) of around 12.25%, driven by thoroughly examined factors outlined in the study. The South America Two Wheeler Tire Market Report by MarkNtel Advisors provides a comprehensive evaluation of the market outlook up to 2028.
According to the report, the demand for top-notch sports two-wheeler tires is on the rise, driven by a modernizing population and a growing number of riders seeking exhilarating riding experiences. This trend has led to an increased interest in sport-oriented motorcycles and scooters. Thus, there is a promising opportunity for the expansion of the Two Wheeler Tire Market in South America.
Sport-oriented motorcycles and scooters are designed for heightened speed, agility, and superior cornering capabilities. They require specialized tires that can deliver optimal performance even under challenging conditions. This scenario presents an excellent chance for tire manufacturers to tailor high-quality sports tires to the preferences of South American riders, specifically focusing on the performance segment.
One notable influence on this trend is the burgeoning popularity of MotoGP racing in South America, notably in countries like Brazil and Argentina. The adrenaline-pumping races and the enthusiasm of the local fan base have significantly contributed to a growing market for sports bikes. As riders aim to replicate the high performance and thrill experienced in these races, the demand for high-performance sports tires is expected to surge. This creates a favorable market for tire manufacturers to introduce technologically advanced tires that provide exceptional grip, stability, and responsiveness for spirited riding.
MarkNtel Advisors Has Segmented the South America Two Wheeler Tire Market into,
Vehicle Type (Scooter & Moped, Motorcycle), Tire Size (Tire Size 1, Tire Size 2, Tire Size 3, Tire Size 4, Tire Size 5), Sales Channel (Online, Direct Sales, Multi Brand Stores, Exclusive Outlets), Price Category (Budget, Economy, Premium), Tire Type (Radial, Bias), Demand Type (OEM, Replacement), Country (Brazil, Argentina, Chile, Colombia, Peru, Paraguay, Ecuador, Uruguay, Rest of South America).
Motorcycles dominate the South America Two Wheeler Tire Market, primarily due to their extensive use in transportation, especially in urban areas where traffic congestion is common. Motorcycles with engine displacements ranging from 101cc to 125cc and 126cc to 150cc constitute a significant portion of the overall two-wheeler fleets. This is attributed to their superior fuel efficiency, power, and affordability.
In response to the growing demand, leading motorbike manufacturers like TVS and Yamaha are expanding their product offerings in the region, particularly in the 125-150cc segment. Furthermore, companies such as iFood and Cornershop are increasingly employing motorcycles for efficient and punctual transportation of goods within congested urban environments. Motorcycles offer greater maneuverability, making them ideal for navigating heavy traffic. Consequently, this sustained use of motorcycles results in frequent wear and tear on motorbike tires, driving sales in the region.
Moreover, a rising trend in the region is the increasing interest in off-road bikes, fueled by a growing enthusiasm among the population for recreational riding activities and the launch of various motorbike racing events across South America, including MotoGP. This trend is boosting sales for racing bikes and their corresponding tires.
Prominent Companies Profiled in The Research Report
Michelin, Bridgestone, Pirelli, Dunlop, Maggion Tires, Borilli, Rinaldi Tires, Pneus Technic, Maxxis, Kenda Tire, and Others. To enhance their market presence in key regional markets, these market players can utilize the regional ratings provided by the South America Two Wheeler Tire Market report. This assessment highlights untapped growth opportunities in neighboring markets and potential areas for strategic investment during the forecast period.
Read Full Report – https://www.marknteladvisors.com/research-library/south-america-two-wheeler-tire-market.html