Continuously growing demand for two wheelers coupled with expanding fleet size to drive Latin America two wheeler tire market through 2025
According to TechSci Research report, “Latin America Two Wheeler Tire Market By Vehicle Type, By Demand Category, By Region, Competition, Forecast & Opportunities, 2025”, Latin America two wheeler tire market is anticipated to reach $ 2.1 billion by 2025, owing to rising two wheeler sales due to their ease of maneuverability and high mileage coupled with expanding two wheeler fleet in Latin America. Increasing vehicle population and traffic congestion on city roads are expected to boost the demand for two wheelers and their tires during forecast period. Continuous business expansions of prominent two wheeler tire manufacturing companies across the region and their continuous research and development activities to manufacture technologically advanced, economical as well as efficient tires is further anticipated to intensify the competition in two wheeler tire market across Latin America over the course of the next five years.
Companies across the region are also introducing more performance-oriented radial tires to better suit different driving conditions, which is further anticipated to augment the level of radialization in Latin America two wheeler tire market in the coming years. Brazil accounts for the maximum share in Latin America two wheeler tire market on account of large fleet of two wheelers and large-scale production of two wheelers across the country. Countries such as Brazil, Argentina, Colombia, Mexico are major contributor to the Latin America two wheeler tire market.
Browse more than 29 market data Figures spread through 110 Pages and an in-depth TOC on “Latin America Two Wheeler Tire Market”
Latin America two wheeler tire market can be segmented based on demand category, vehicle type and region. In terms of vehicle type, the motorcycle segment accounts for the largest share and the trend is expected to continue in the forthcoming years as well. While, scooter segment is expected to grow at an impressive rate in the forecast period. The road infrastructure in major parts of Latin America is poor making it difficult for other vehicles to traverse easily. Hence, motorcycles are preferred in Latin America due to its large tire sizes as they provide a comfortable ride as compared to scooters in both paved and unpaved roads.
Maggion, Michelin, Technic, Rinaldi, etc., are among some of the leading players operating in Latin America two wheeler tire market. Apart from these companies, Asia-based two wheeler tire manufacturers are also increasing their marketing activities and enriching product portfolio in the region to increase their customer outreach. Major companies in the Latin America two wheeler tire industry are also focusing on increasing their dealer and distributor network to grab a larger share in the region’s two wheeler tire market.
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“Brazil dominated the Latin America two wheeler tire market in 2019, backed by increase of two-wheeler fleet and production in the country. Over the next five, demand for two wheeler tires is anticipated to increase in the countries namely Brazil, Colombia, Argentina and Mexico, on account of rising crude oil prices and increasing traffic congestions. Moreover, with growing inclination of general population towards two wheelers owing to their high maneuverability and expansions of product portfolios by major two wheeler tire manufacturer.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based Latin America management consulting firm.
“Latin America Two Wheeler Tire Market By Vehicle Type, By Demand Category, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Latin America two wheeler tire market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Latin America two wheeler tire market.
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