The demand for motorcycle tyres around the world is expected to rise 4% every year till 2022, at an estimated 704 million units valued at about US$14 billion. The advances in motorcycle tyres will see it overtaking the global tyre average as growth in the production, as use of motorcycles outpaces that of motor vehicles.
Cleveland-based research firm, The Freedonia Group, presents these trends in Global Tyres.
Motorcycle tyre sales will develop prominently in warm climates such as Central and South America, and the Asia Pacific region, where motorcycles are a strong choice of transport. It is predicted that the Asia Pacific region will be responsible for 83% of all new demands in 2022.
Demand for all types of tyres will increase over 3% annually till 2022 to 3.2 billion units. Sales of tyres are predicted to advance 4.9% per year, heavily due to expected increases in raw material prices and the continued development of higher quality tyres.
Astyres are essential components of motor vehicles and other transportation equipment, rising incomes in developing nations and economic stimulation both contribute as two key factors affecting growth.