North America 2-Wheeler Tire Market Report and Forecast 2024-2032

North America 2-Wheeler Tire Market Outlook

The North America 2-wheeler tire market size reached approximately USD 3.12 billion in 2023. The market is projected to grow at a CAGR of 5.4% between 2024 and 2032, reaching a value of around USD 5.04 billion by 2032.

Key Takeaways

A tire refers to a thick piece of rubber which is filled with air and is fitted around the outer edge of the wheel of a vehicle. It enables heavy and light vehicles (including two-wheelers) to travel on the road smoothly. It supports the weight of the vehicle and its load, allows it to travel/change directions, and transmits the force of braking and acceleration towards the ground to stop the vehicle.

Evolving consumer demand has prompted tire companies to manufacture puncture-resistant tires, which deliver exceptional performance in versatile road conditions. Self-sealing tires, which have a sticky substance to seal punctures with a diameter of up to 1 / 4 inches, are also witnessing high demand.

Key Trends and Developments

Increase in yearly sales of motorcycles in the USA, rising number of registrations in Canada, adoption of data analytics tools, and tire manufacturing plant specialisation are positively impacting the market North America 2-wheeler tire market growth

North America 2-Wheeler Tire Market Trends

Motorcycle registrations grew at the fastest rate in Saskatchewan (16%) in 2021, as compared to 2020. Nearly 60% of all Canadian motorcycles were purchased in Qubec or Ontario. In Atlantic Canada, New Brunswick and Nova Scotia led in the total number of motorcycle registrations, which reached the figure of 23218 and 19799. The province of Alberta bagged the third position, ahead of British Columbia in terms of the rate of increase in automobile registrations.

Data analytics tools are enabling companies to shift towards a predictive maintenance model for tires, which is accelerating the North America 2-wheeler tire market expansion. By anticipating the occurrence of wear and tear in different places, the life of tires can be improved and businesses can ensure high savings for further investment into other processes. High quality tires for 2-wheelers can also ensure safer journeys of riders.

Market Segmentation

“North America 2-Wheeler Market Report and Forecast 2024-2032” provides a detailed examination of the market based on the segments given below:

Tubeless tires to dominate the North America 2-wheeler tire market share in the forecast period due to their fuel efficiency and lightweight nature

Tubeless tires are likely to lead the market in the market in the coming years as they are lightweight and have high fuel efficiency. Since the loss of air from tubeless tires is gradual, they are relatively safer than tube tires. They ensure better dissipation of heat and are easy to repair. Tube tires’ demand is also expected to remain stable over the forecast period as they provide a good grip of the vehicle on road and are manufactured from soft rubber compounds.

Aftermarket is expected to dominate the market over the forecast period

Aftermarket is expected to account for a significant share in the North America 2-wheeler tire market in the forecast period as they offer a wide variety of options to choose from. On the other hand, the demand for original equipment manufacturers is also expected to witness steady growth. This can be attributed to the rising demand for customised tires among 2-wheeler owners.

Competitive Landscape

Major players in the North America 2-wheeler tire market are attempting to develop innovative 2-wheeler tires for use in off-road conditions

Other key players in the North America 2-wheeler tire market are Pirelli & C. S.p.A., Sumitomo Rubber Industries, Ltd., Kenda Rubber Industrial Company, LTD., Cooper Tire & Rubber Company, Coker Tire, and Maxxis International, among others.

North America 2-Wheeler Tire Market Analysis by Country

Canada is expected to account for a substantial portion of the market share during the forecast period. This can be attributed to rising number of 2-wheeler vehicle in the country. With increase in number of sporting and adventurous activities, the popularity of 2-wheelers is expected to register a significant uptick in the country in the forecast period.

The North America 2-wheeler tire market expansion is further expected to be propelled by the  huge popularity of motorcycles as a recreational vehicle, especially among the GenZ, in the United States.

Key Highlights of the Report