The Europe 2-Wheeler Replacement Tire Market is anticipated to register a CAGR greater than 4.0% during the forecast period (2020 - 2025).
2-Wheeler Replacement Tire has always remained in demand, and with more extensive ownership of personal 2-Wheelers and growing technological advancements, the need for these will only increase. A surplus amount of income is spent by European nations when it comes to purchasing motorcycles.
Balding of the tire due to excessive tear after running the vehicle for a set number of miles and road damage resulting faulting in tires sidewalls are a few significant reasons as to why customers get their tires replaced. For instance, Retreading allows the tire to perform the same as a new tire, adding the extra mile to your tire life. The older casing can be used again, while new treads can be added twice or thrice depending on the tire condition.
In 2019, E-bike sales in Europe had reached 3.2 million units, up from 2.6 million units the previous year. E-bike sales have been continuously growing over the year, indicating towards opportunities in the 2-wheeler Replacement Tire market.
Key Market Trends
Retreading of The Tire Will Push The 2-Wheeler Market for Replacement Tire Segment
One of the best methods of replacing tires is by retreading older tires. Generally, a tire with good structural quality is processed to get a wholly renewed tread and sidewall rubber. Further, the revamped tire is cured by vulcanizing the new rubber to the original casing.
High standard tires are being manufactured using premium technologies to perform flawlessly, but also in their second and sometimes with tires third life. As a result, the retreaded tire industry has grown with more durable tire casings, enhanced re-manufacturing techniques, and high-quality rubber compounds that are being used today.
But in retreading tires, a new lease of rubber is put on the casing of a worn-out tire without changing the cords of infrastructure, causing the quality of the retreaded tires to be lesser than that of the new tires.
Nevertheless, there are also many economic benefits of retreading as the retreaded tires are less pricey than the new ones. By retreading old tire at least twice or thrice can help save upto 60% the amount a new set of tires would.
Electric 2-Wheeler Will Dominate the 2-Wheeler Replacement Tire Market in Europe
France dominates the European electric scooters and motorcycles market during owing to one the largest fleet of scooters for sharing purposes. The Electric segment is booming 38.6%. In 2019, France grew to 306.977 with Italy second place with 260.522 sales, followed by Spain, Germany, Turkey, and Great Britain, Netherlands.
In 2019, in more than 50 major cities in Europe, almost 60 scooter sharing service providers operated. This number in electric scooters/ mopeds is increasing. For instance, in 2019, over 22,000 Electric 2-wheelers were working compared to 6,900 in 2017.
France had around 4,870 scooters operating in the sharing services in 2018, an increase of nearly 2,770 units from the preceding year. Besides, Spain had about 8,920 electric bikes for sharing functions in 2018, an increase of around 498% relative to the fleet size reported in 2017. This growth of scooter-sharing services has significantly led to the growth of the 2-wheeler Replacement Tire market as well.
In fact, for motorbikes, many state laws also require heavy motorcycles to carry a tread depth tire l on the road. As a result, 2 - wheeler replacement tire manufactures today are heavily investing in advanced tires, which can both lightweight and safe to accommodate for the E-bikes shortly.
Competitive Landscape
The Europe 2-Wheeler Replacement Tire Replacement Market is consolidated with existing market players such as Apollo Tyres Ltd, BFGoodrich, Cooper and Dunlop, which hold the most significant shares. Although to have the edge over its competitors, the major actuators manufacturing companies are making joint-ventures, partnerships to launch newer products.
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