Brazil Two Wheeler Tire Market Research Report, 2029

The Brazil two-wheeler tire market is experiencing significant growth driven by various factors, including economic conditions, consumer preferences, and government policies. This market encompasses tires specifically designed for motorcycles, scooters, and other two-wheeled vehicles, which are increasingly popular due to their affordability and convenience. Petroleum reinforcing materials such as nylon, polyester, and rubber, among others, are the key raw materials used for manufacturing tires that witnessed price fluctuations during the COVID-19 pandemic, which hindered the growth of the tire market in Brazil. This is because Brazil generally imports raw materials for tire manufacturing from Asia-Pacific countries such as India, China, and Indonesia, among other regions. Therefore, any changes in raw material pricing in these countries increase the final manufacturing price of tires in Brazil. Due to this, the increase in the production of tires in the country would raise the cost of the final output as well. The increasing middle-class population in Brazil is leading to higher disposable incomes, which in turn fuels the demand for personal vehicles, including two-wheelers. This trend is particularly pronounced in urban areas where traffic congestion makes two-wheelers an attractive option for mobility. With the rise of electric mobility solutions, there are government incentives aimed at promoting e-mobility services. This shift towards electric two-wheelers is expected to create new opportunities within the tire market as manufacturers adapt their product offerings. Infrastructure development also encourages advancements in tire technology. As road conditions vary across Brazil from well-maintained highways to rough rural paths manufacturers are innovating to produce tires that can withstand diverse terrains while ensuring safety and performance. According to the research report "Brazil Two Wheeler Tire Market Research Report, 2029," published by Actual Market Research, the Brazil Two Wheeler Tire market is anticipated to grow at more than 7.81% CAGR from 2024 to 2029. The factors responsible for the market growth are raising disposable income combined with the inclination of the residents towards the procurement of personalized vehicles for improved mobility made a significant contribution to the demand for two-wheeler tires from replacements & OEMs in the historical years. The growing popularity of e-commerce among the residents has notably contributed to the demand for two-wheelers with service providers, including Rappi, Cornershop, and iFood, among others. This is anticipated to escalate the demand for two-wheeler tires in the forthcoming years. Increasing infrastructure spending in both established and emerging markets is also expected to enhance demand for construction trucks, boosting tire sales. Aside from that, the major companies are working on innovative, environmentally friendly products including ecological, flat-run, and nitrogen-based tires. With the increasing dominance of sustainable traveling alternatives adopted by the residents, the country saw a notable increase in the demand for two-wheelers to cater to emerging mobility needs. These growth factors are expected to positively influence the growth of the Brazil Two-wheeler Tire market in the forthcoming years. Growing urbanization & industrialization activities, combined with the significant increase in vehicle traffic in Brazil, has led to the degradation of its environment. This increased concerns amongst the government & e-mobility service providers to limit the CO2 emission & promote sustainable living by driving innovations in the manufacturing of fuel-efficient or alternative vehicles in the country. Brazil has experienced significant economic growth, which has increased the purchasing power of Brazilians in recent years, which in turn is contributing to the rise of private vehicle ownership.

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The main categories of vehicle type in the Brazilian two-wheeler tire market are Scooters, Motorcycles, and Others. Each segment behaves differently because it depends on different kinds of consumer preferences and market dynamics. Scooters, which are easy and comfortable to use, have seen steady increases in popularity as traffic congestion has mushroomed and people hungered for efficient and affordable transportation. The scooter tire market in Brazil has grown and concentrated on durability and performance to accommodate daily commutes for people. With this objective, most producers are highly investing in research and development so as to come up with tires that allow superior grip, longer lifespan, and safety features tailored for urban ride conditions. In the meantime, motorcycles have the largest market share in the two-wheel segment in Brazil due to its versatility and widespread usage both by commute riders and leisure cyclists. The motorcycle tire market is highly in need of performance tires, predominantly in sports and adventure categories. Consumers are looking for high-quality tires that offer the best level of grip, stability, and wear resistance and can handle tough terrains and a wide range of riding styles. Other Two-Wheelers This category covers a broad spectrum of two-wheelers, including mopeds, electric bikes, and specialty vehicles. Although much smaller than scooters and motorcycles, this segment is experiencing growth with the rise in electric vehicle adoption and niche market demands. Tire manufacturers are responding by designing innovative tire solutions to these vehicle specifications in regard to lightweight designs and eco-friendly materials. The technology segment in the Brazilian two-wheeler tire market can be classified as Internal Combustion Engines (ICE) and Electric vehicles, both with different dynamics and requirements of the tires. ICE dominates the two-wheeler market in Brazil and there are hundreds and thousands of scooters and motorcycles run on gasoline engines. Tires for ICE two-wheelers are designed to cope with the heat, speed, and load connected with these vehicles. The demand for ICE segment for robust, high-quality performance tires that can be used by customers in a wide range of riding conditions is very high. Manufacturers also concentrate on the development of tyres with superior grip, handling, and wear resistance in comparison to the respective tyre segments. As such, the market for ICE two-wheeler tyres is quite strong. The scope covers an extremely wide range of products, ranging from vehicle type to riding style and price. The segment is electric, which is a smaller and growing market due to rising environmental concerns, government incentives, and technology advances. In the case of two-wheelers, e-scooters and e-motorcycles will have very different tires. Electric vehicle tires are made to handle this instant torque and increased weight due to battery packs. Low rolling resistance becomes important for maximizing range for electric two-wheelers. Tire companies are investing in R&D of specialty tires such as energy efficiency, durability, and sustainability. The tyre segment in the Brazilian two-wheeler tyre market is primarily marked by two broad categories: Personal and Commercial. Both the segments have particular usage patterns and purposes associated with two-wheeler tyres. Personal end-users are those who are mainly using two-wheelers for daily commuting, leisure or personal transport. This segment accounts for a major share in the two-wheeler tyre market in Brazil, considering large-scale use of scooters and motorcycles on a daily basis. Personal users require tyres that are an all-around perfect mix of performance, safety, and durability. They require tires that deliver excellent grip in varied weather conditions and long-lasting and comfortable for riding on a daily basis. Personal users may also seek tyres that make the vehicle look attractive. Demand for this category is driven by factors such as urbanization and traffic congestion and requirements for affordable, convenient means of transport. Commercial end-user segment: Large enterprises utilizing two wheelers for commercial purposes. Delivery services, courier companies, and fleet operations are the segments included in this group. In Brazil, commercial segments are hugely driven by the development of e-commerce and on-demand delivery service. Commercial users look for durable, reliable, and economical tires. They require a tire with adequate lifecycle to withstand high usage, sudden breaks and accelerations, and changes in road conditions. In this portion, tires with reinforced sidewalls, puncture resistance, and long tread life are preferred in order to reduce as much downtime as possible and lower costs for operations.

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Nikita Jabrela

Business Development Manager

Considered in this report • Geography: Brazil • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Brazil Two Wheeler Tire Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Vehicle Type: • Scooter • Motorcycle • Others

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By Technology: • Internal Combustion Engines (ICE) • Electric By End-User: • Personal • Commercial The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to tire industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.