Market Overview

The Latin America two wheeler tire market size reached USD 1.17 Billion in 2024. It is projected to reach USD 1.84 Billion by 2033, exhibiting a CAGR of 4.80% during the forecast period 2025-2033. Growth is driven by the rising demand for cost-effective and fuel-efficient transportation, coupled with the increasing popularity of electric two-wheelers and urbanization.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Latin America Two Wheeler Tire Market Key Takeaways

• Current Market Size: USD 1.17 Billion in 2024
• CAGR: 4.80% during 2025-2033
• Forecast Period: 2025-2033
• The market growth is fueled by the increasing demand for affordable and fuel-efficient transportation modes.
• Growing popularity and government incentives for electric two-wheelers are significant market drivers.
• Urbanization trends further support the market expansion across the region.
• Specialized tires are increasingly demanded for electric two-wheelers, which require enhanced durability and performance.
• The market segmentation covers tire type, vehicle type, tire size, sales channel, location, and country.

Sample Request Link: https://www.imarcgroup.com/latin-america-two-wheeler-tire-market/requestsample

Market Growth Factors

The increasing demand for economical & fuel efficient two wheeler tires in Latin America is expected to drive the growth of the market. The report states that companies like Michelin are developing tires from 42% renewable materials. The company seeks to sustain 100% by 2050. The designs aim at reducing rolling resistance and increasing fuel efficiency in small motorcycles and scooters for reducing transport costs. Urban and rural populations utilize the motorcycles and scooters for transport because consumers demand transport that is cheap and environmentally friendly.

Electric two/three wheelers are another opportunity in Latin America; the report predicts that in 2024, the electric vehicle market in Brazil will be 60% larger, with much of this coming from two/three wheelers. Environmentalists care about the environment. Governments subsidize and benefit electric motorcycles and scooters. These vehicles attract consumers. Consumers demand to purchase electric motorcycles and scooters. However, these vehicles require special tires with the unique torque and distribute the weight for electric drivetrains.

Another factor that is contributing to growth in the Latin American tire market is urbanization. The use of two-wheelers that are cost effective and fuel efficient in congested cities is on the rise. Latin America urbanization growth drives demand for longer-lasting energy-efficient two-wheeler tires in urban areas. Electric mobility and sustainability will support the growing outlook for the two-wheelers tires market during their transition.

Market Segmentation

Tire Insights:

• Tubes
• Tubeless

The market segments based on tire type include tubes and tubeless tires, catering to different vehicle requirements and user preferences.

Vehicle Insights:

• Motorcycle
• Standard/Commuter
• Sport/Performance
• Adventure/Touring
• Off-Road/Dirt Bikes
• Scooter
• Standard Scooters
• Maxi Scooters

The vehicle segmentation covers motorcycles - including various types such as commuter and sport models - and scooters, segmented into standard and maxi classes.

Tire Size Insights:

• Up to 12 inches
• 12 to 17 inches
• Above 17 inches

Tire sizes are segmented into three categories based on diameter, addressing different vehicle and ride requirements.

Sales Channel Insights:

• OEM
• Tubed
• Tubeless
• Aftermarket
• Tubed
• Tubeless

The market analysis includes OEM and aftermarket sales channels with distinctions between tubed and tubeless product types.

Location Insights:

• Front
• Rear

Tires are categorized by their placement on the vehicle, front or rear, reflecting usage and performance considerations.

Country Insights:

• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Peru
• Others

The country segmentation addresses the major markets within Latin America, providing granular geographical insights.

Regional Insights

Brazil is a dominant market within Latin America, with the electric vehicle segment notably growing by 60% in 2024. This growth signals a significant shift in consumer preferences and regulatory impacts towards electric mobility. Such regional dynamics emphasize Brazil as a crucial contributor to the overall Latin America two wheeler tire market expansion. Urbanization and environmental policies across these countries further bolster the market's growth prospects.

Recent Developments & News

In May 2024, Ceat, an Indian tire manufacturer, announced its strategic expansion into North Latin America to strengthen its market presence and distribution network. Earlier in February 2024, Vipal Rubber was appointed the official tire supplier for Honda motorcycles in Brazil, beginning with the Honda CG 160 Fan model outfitted with Vipal’s Street ST600 tires made in Bahia. These moves highlight strategic partnerships and market expansions shaping the regional tire industry.

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Players

• Ceat
• Vipal Rubber

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.