Dublin, Sept. 23, 2021 (GLOBE NEWSWIRE) -- The "Global Premium Two-Wheeler Tire Market, By Type (Standard, Cruiser, Sport, Touring, Adventure Sport), By Demand Category (OEM vs Replacement), By Tire Type (Radial vs Bias), By Rim Size (up to 16inch, 16-17inch, Above 17inch)" report has been added to ResearchAndMarkets.com's offering.
Global premium two-wheeler tire market is anticipated to grow at a significant CAGR
Increase in the youth population around the globe coupled with the increase in the expenditure capacity of consumers, the premium two-wheeler tire market is expected to witness significant growth in the next five years.
The rapid urbanization of people in search of better job opportunities and quality living standards is contributing to a surge in the demand for the premium two-wheeler tire market.
Shift in preference of the consumers for vehicle ownership as it instills independence to the consumers, and it is considered more economical and time-saving. Availability of a wide range of premium two-wheeler vehicles across the world in different variety and price segments to attract more consumers is expected to fuel the demand for the premium two-wheeler tire market.
Financial institutions are providing easy loans and EMI facilities with lower interest rates which in turn is aiding to increase the expenditure capacity of the consumers to afford premium two-wheeler vehicles. Market players are adopting attractive marketing strategies and social media campaigns to raise consumer awareness and improve the brand image.
The offering of lucrative discounts to consumers and providing other benefits with the purchase of premium two-wheeler vehicles such as insurance policies, home delivery, amongst others are expected to act as a driver boosting the growth of the premium two-wheeler tire market in the next five years.
Global premium two-wheeler tire market is segmented into type, demand category, tire type, rim size, regional distribution, and company. Based on the regional analysis, the Asia-pacific region is expected to witness the fastest incremental growth in the premium two-wheeler tire market in the forecast period, 2022-2026.
The presence of the major players in the region along with a large population pool is the driving factor for the high demand of the market. The rise in the affordability of the consumers and the high sales of premium two-wheeler vehicles are creating lucrative opportunities for the growth of the premium two-wheeler tire market.
Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
The major players operating in the global premium two-wheeler tire market are
Compagnie Generale des Etablissements Michelin
Pirelli & C. S.p.A.
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
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Global Premium Two-Wheeler Tire Market, By Type:
Global Premium Two-Wheeler Tire Market, By Demand Category:
Global Premium Two-Wheeler Tire Market, By Tire Type:
Global Premium Two-Wheeler Tire Market, By Rim Size:
up to 16inch
Global Premium Two-Wheeler Tire Market, By Region:
Europe & CIS
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/oybgd1
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