Vietnam Two-Wheeler Tire Market 2030F Drivers & Trends

Introduction

The Vietnam Two-Wheeler Tire Market is poised for robust growth in the coming years, reflecting the nation’s unique mobility patterns, economic expansion, and evolving consumer preferences. According to recent market assessments, the industry was valued at USD 1.96 billion in 2024 and is projected to reach USD 2.64 billion by 2030, registering a CAGR of 5.11% during the forecast period.

This trajectory is underpinned by Vietnam’s reliance on two-wheelers—particularly motorcycles—as the primary mode of transportation. With limited public transport infrastructure in many regions, two-wheelers remain an affordable, flexible, and efficient solution for daily commuting. Additionally, rising disposable incomes and growing awareness of road safety have spurred demand for premium-quality tires that promise enhanced durability, fuel efficiency, and performance.

Emerging Trends in the Vietnam Two-Wheeler Tire Market

1. Shift Towards Tubeless and Eco-Friendly Tires

The market is witnessing a steady migration from traditional tube-type tires to tubeless variants, which offer better puncture resistance, lower maintenance, and improved fuel efficiency. Parallelly, eco-friendly tires—crafted with low rolling resistance technology and sustainable materials—are gaining traction, appealing to environmentally conscious consumers.

2. Growing Penetration of E-Commerce in Tire Sales

Online retail platforms are transforming tire purchase behavior in Vietnam. Consumers can now compare prices, read user reviews, and select from a wide array of tire brands with a few clicks. E-commerce’s role is further strengthened by mobile-based shopping apps, making tire procurement convenient even in remote areas.

3. Premiumization of Motorcycle Tires

As disposable incomes rise, there is a clear shift toward high-performance and branded tires. Premium tires not only enhance ride comfort and safety but also cater to the aspirations of urban riders investing in more powerful or stylish motorcycles.

4. Influence of Tourism on Tire Demand

Vietnam’s flourishing tourism sector is indirectly boosting tire consumption. The surge in rental motorcycles and scooters in tourist hubs such as Hanoi, Ho Chi Minh City, Da Nang, and coastal towns is increasing tire replacement frequency, especially for fleets in the sharing economy.

5. Road-Specific Tire Customization

Given Vietnam’s diverse terrain—from smooth city roads to rugged rural tracks—manufacturers are designing tires optimized for local conditions. This includes all-weather tires with improved wet-grip technology to cope with heavy monsoon rains.

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Market Drivers

1. Heavy Dependence on Motorcycles for Daily Mobility

Motorcycles and scooters account for a majority of Vietnam’s daily commute due to their affordability, fuel efficiency, and ability to navigate congested urban areas. This large installed base continually drives demand for replacement tires.

2. Rising Disposable Incomes and Consumer Awareness

As purchasing power increases, more riders are upgrading from basic tire models to advanced, branded options that offer safety, longevity, and performance benefits.

3. Growth of Ride-Hailing and Delivery Services

Urban ride-hailing apps and last-mile delivery services—particularly in food and e-commerce—have significantly increased the operational usage of two-wheelers. This accelerates tire wear-and-tear and shortens replacement cycles.

4. Expansion of Vietnam’s Manufacturing Base

Vietnam has emerged as a regional manufacturing hub for automotive and tire production, attracting global brands to set up local facilities. This enhances supply availability and fosters competitive pricing.

5. Digitalization of Retail Channels

The rapid adoption of online tire sales is not just a convenience but a driver of market penetration in previously underserved areas.

Industry Key Highlights

• Market Value (2024): USD 1.96 billion
• Forecast Market Value (2030): USD 2.64 billion
• CAGR (2024-2030F): 5.11%
• Primary Demand Source: Motorcycle tires for commuting and delivery
• Fastest-Growing Region: Northern Vietnam due to urbanization and high motorcycle density
• Technology Shift: Growing adoption of tubeless and eco-friendly tires
• Retail Transformation: Surge in e-commerce sales and mobile app-based purchases
• Tourism Impact: Increased rental bike demand boosting replacement tire sales

Regional Insights

Northern Vietnam – The Growth Engine

Northern Vietnam is currently the fastest-growing region in the two-wheeler tire market. Home to major urban hubs like Hanoi, the region experiences dense traffic, limited public transport, and high motorcycle ownership rates. Seasonal heavy rains also necessitate specialized wet-weather tires, further driving demand.

Urbanization, rural-to-urban migration, and expanding industrial zones contribute to a surge in two-wheeler usage. Additionally, the growth of a middle-class segment is fueling sales of premium motorcycles and related high-end tire products.

Segmentation Overview

• By Vehicle Type: Motorcycle, Moped, Scooter
• By Sales Channel: OEM (Original Equipment Manufacturer) and Replacement
• By Tire Construction Type: Radial and Bias
• By Propulsion Type: ICE (Internal Combustion Engine), Electric, and Others
• By Region: Northern Vietnam, Southern Vietnam, Central Vietnam

Competitive Analysis

The Vietnam two-wheeler tire market features a mix of domestic and global players, each competing on product quality, pricing, distribution reach, and brand reputation. Key players include:

1. Michelin Vietnam Company Limited – Known for premium tire technology and innovation in eco-friendly models.
2. Bridgestone Tire Sales Viet Nam Limited – Strong in both urban commuter and heavy-duty tire segments.
3. Pirelli Tyre S.p.A – Targets high-performance motorcycles with advanced grip technology.
4. Toyo Tire Corporation – Offers versatile tires suited for Vietnam’s varied terrains.
5. Goodyear Tire and Rubber Company – Popular in both replacement and OEM segments.
6. Kumho Tire Vietnam Co., Ltd. – Known for affordable yet durable tire solutions.
7. Yokohama Rubber Co., Ltd. – Focuses on premium, performance-oriented designs.
8. Hankook Tire & Technology Co., Ltd. – Competitive pricing with consistent quality.
9. Maxxis International – Well-regarded in budget-friendly tire options.
10. Sailun Tires – Expanding presence in Vietnam with a balance of affordability and performance.

Future Outlook

The Vietnam Two-Wheeler Tire Market is expected to sustain its upward trajectory due to continued motorcycle dominance in transportation, expansion of e-commerce tire sales, and steady GDP growth. The rise of electric two-wheelers will also create demand for specialized low-resistance tires.

Over the next decade, we can expect:

• Greater adoption of smart tires with embedded sensors for pressure and wear monitoring.
• Expansion of domestic tire manufacturing to reduce import dependence.
• Strategic partnerships between tire brands and ride-hailing/delivery companies.
• Wider availability of eco-certified tires in response to environmental regulations.

10 Benefits of the Research Report

1. Accurate Market Size and Growth Projections – Data-backed forecasts up to 2030.
2. Detailed Segmentation – Insights into vehicle type, tire construction, propulsion, and region.
3. Trend Identification – Analysis of evolving consumer preferences and technological shifts.
4. Competitive Landscape – Profiles of major tire manufacturers operating in Vietnam.
5. Regional Growth Insights – Identification of fastest-growing geographies.
6. Consumer Behavior Analysis – Factors driving purchase decisions.
7. Retail Channel Trends – Understanding the shift toward digital sales.
8. Policy and Regulatory Impact – Assessment of government initiatives and safety norms.
9. Investment Opportunities – Pinpointing high-growth areas for stakeholders.
10. Actionable Recommendations – Strategic guidance for market entry and expansion.

Conclusion

Vietnam’s two-wheeler tire market stands as a dynamic, opportunity-rich sector shaped by urbanization, rising incomes, technological innovation, and evolving consumer lifestyles. While motorcycles remain the heart of Vietnam’s mobility culture, the tire industry is rapidly adapting to meet diverse road conditions, climate challenges, and new retail models.

As the nation pushes towards modernization, both domestic and global tire players will have to innovate—be it through product design, distribution strategies, or sustainability practices—to secure a competitive edge in this high-growth market.

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