Rising incomes in emerging markets have led to the rapid growth of motorcycle ownership, particularly in Asia, resulting in a strong increase in motorcycle tire sales. Growth is being driven by the increasing number of households in industrializing regions that are now able to afford motorcycles.
Motorcycle tire market demand is estimated to rise to $19.4 billion in 2023, representing an annual compound growth of 6.5% from $14.2 billion in 2018, according to Smithers Rapra data.
In the report The Future of Motorcycle Tires to 2023, Smithers Rapra attributes growth to rising living standards, urbanization and mobility improvements, demographics, and technological changes. Those with disposable income are showing growing interest in motorcycles, including electric and self-balancing models and other new technologies.
The highest growth is seen in the Asia-Pacific region, driven by China and India. Data shows that by 2023, Asia-Pacific’s region share will be over 16 million units. Japan-based multinational companies such as Honda, Kawasaki, Suzuki and Yamaha dominate the two-wheeler sector’s world market.
Trends in mobility
The evolution of mobility and transportation technologies, along with road conditions, play a role in customer preferences, driving patterns, tire wear, and ultimately motorcycle and tire design.
The role of motorcycle tires is complex, and they must satisfy performance and safety parameters depending on the application and type of motorcycle. There is extreme variation of motorcycle tire types depending on vehicle characteristics, intended driving surfaces, and tire construction.
Evolving tire construction
Developments in tire materials continue to include new compounds, as well as a greater range of compounds, to optimize the attributes most required by industry and to better target tires to applications, according to Smithers Rapra.
Among performance and safety attributes, grip remains the most important and is still being improved even as other attributes compete for attention. A trend towards a richer silica content is ongoing, owing to the importance of grip. Carbon black is also important, with the grades used in motorcycle tires similar to those used in ultra-high-performance and race car tires. Traditionally, all motorcycle tires were bias ply. A clear trend for motorcycles up to 400cc is the increased use of radial tires, especially seen in Asia and South America where they are equipped on more sporty motorcycles.
The impact of electrification
Electrification will initiate further tire evolution, as will the requirements of motorcycle connectivity and progressive automation, leading eventually to ‘smart’ tires. Tires will be expected to have sensors measuring and reporting pressure, temperature, grip, road surface conditions, and tire wear/condition.
Smithers Rapra market report The Future of Motorcycle Tires to 2023 offers in-depth analysis of the economic demand and growth of the global motorcycle tire market from 2018-2023, and cutting-edge technology developments in materials, components, design, and safety attributes.
Read the source article at smithersrapra.com