Launch apps instantly. Claim $200 credits on DigitalOcean for free!
Written by varun » Updated on: October 12th, 2024
The global two-wheeler market is experiencing significant growth, driven by the increasing adoption of two-wheelers for local commuting and rapid deliveries, particularly in urban areas.
This growth is further fueled by the cost-effectiveness of two-wheelers, their suitability for densely populated regions, and the rising shift towards electric vehicles (EVs) due to environmental concerns. This report delves into the various aspects of the global two-wheeler market, including market segmentation, key trends, competitive landscape, and future opportunities.
The two-wheeler market is expanding globally, with a notable increase in penetration across both developed and developing regions. The demand for two-wheelers is particularly strong in Asia Pacific, where countries like India and China dominate the market. Factors such as high population density, limited parking spaces, and the need for efficient local transportation are driving this trend.
Browse more than XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Two wheeler Market" @ https://www.techsciresearch.com/report/global-two-wheeler-market/1416.html
The rising cost of gasoline and the tightening of emission regulations globally are encouraging consumers to switch to electric two-wheelers (e-2Ws). The demand for e-2Ws is expected to grow significantly, particularly in emerging markets where environmental concerns and cost-effectiveness are driving the shift towards electric mobility.
Asia Pacific is the largest market for two-wheelers, with India and China accounting for a substantial share of global sales. The region's dominance can be attributed to its large population, rapid urbanization, and growing middle class. Motorcycles and mopeds have emerged as practical alternatives to cars in the region, especially in densely populated cities with limited parking spaces.
India is a critical market for two-wheelers, with significant contributions from both domestic and international manufacturers. Honda Motor Co., Ltd., one of the leading players in the market, has established India as its largest production base, with a capacity of 6.4 million units. The company's strong presence in the Indian market is further bolstered by its plans to expand its product lineup and introduce several e-2W models in the coming years.
China is another major player in the global two-wheeler market, particularly in the electric segment. The country's government has been actively promoting the adoption of electric vehicles, leading to a significant increase in the production and sales of e-2Ws. This trend is expected to continue, with China maintaining its position as a global leader in electric mobility.
Indonesia is one of the fastest-growing markets for scooters, with Honda Motor Co., Ltd. being a dominant player. The company has a production capacity of 5.8 million units in Indonesia and is planning to expand its operations further to cater to the growing demand for scooters and e-2Ws in the country.
The two-wheeler market in Europe & CIS is undergoing significant changes, driven by the increasing adoption of electric vehicles and the introduction of stricter emission regulations. Countries like Germany, France, and Italy are witnessing a growing demand for e-2Ws, as consumers seek environmentally friendly and cost-effective alternatives to traditional gasoline-powered vehicles.
North America represents a smaller but steadily growing segment of the global two-wheeler market. The region's market is characterized by a preference for high-capacity motorcycles, particularly in the United States. However, there is a growing interest in electric motorcycles and scooters, driven by environmental concerns and advancements in battery technology.
South America offers significant growth potential for the two-wheeler market, particularly in countries like Brazil and Argentina. The region's market is primarily driven by the need for affordable and efficient transportation in urban areas. As economic conditions improve, the demand for two-wheelers, especially e-2Ws, is expected to rise.
The Middle East & Africa region presents emerging opportunities for the two-wheeler market. The demand for motorcycles and scooters is growing, particularly in countries with rapidly expanding urban populations. Additionally, the region's increasing focus on reducing carbon emissions is likely to boost the adoption of electric two-wheelers.
The global two-wheeler market can be segmented into two primary categories based on vehicle type: scooters/mopeds and motorcycles.
Scooters and mopeds are gaining popularity due to their ease of use, fuel efficiency, and affordability. These vehicles are particularly favored in densely populated urban areas, where they offer a practical solution for short-distance commuting.
Motorcycles, especially those with higher engine capacities, are preferred by consumers seeking performance and versatility. The demand for motorcycles is strong in both developed and developing markets, with a growing trend towards electric motorcycles in recent years.
Two-wheelers can also be segmented based on engine capacity into the following categories:
Two-wheelers with engine capacities of up to 125cc are popular in regions like Asia Pacific, where affordability and fuel efficiency are key considerations. These vehicles are commonly used for daily commuting and are favored by budget-conscious consumers.
The 126-250cc segment caters to consumers looking for a balance between performance and fuel efficiency. This segment is witnessing growth in both developed and emerging markets, driven by the demand for versatile and cost-effective transportation solutions.
Two-wheelers in the 250-500cc category are favored by consumers seeking higher performance and power. This segment is particularly popular in regions like North America and Europe, where motorcycles are often used for leisure and long-distance travel.
The above 500cc segment includes high-capacity motorcycles that are primarily used for touring and high-performance riding. This segment is growing steadily, particularly in developed markets, where consumers are willing to invest in premium and luxury motorcycles.
Electric two-wheelers are gaining traction globally, driven by environmental concerns and the increasing cost of gasoline. This segment is expected to witness significant growth in the coming years, particularly in regions like Asia Pacific and Europe, where governments are actively promoting the adoption of electric vehicles.
The two-wheeler market can also be segmented based on end use into individual and institutional categories.
The majority of two-wheelers are purchased for individual use, primarily for commuting and personal transportation. This segment is expected to continue dominating the market, driven by the growing demand for affordable and efficient mobility solutions.
Institutional use of two-wheelers is also on the rise, particularly in the logistics and delivery sectors. Companies are increasingly adopting two-wheelers for last-mile delivery services, driven by the need for fast and efficient transportation in urban areas.
The global two-wheeler market is segmented into the following regions:
The global two-wheeler market is highly competitive, with several key players dominating the industry. Some of the major companies operating in the market include:
Hero MotoCorp Ltd.: A leading manufacturer of motorcycles and scooters in India, known for its extensive product range and strong market presence.
Bajaj Auto Ltd.: An Indian multinational company that is one of the largest producers of motorcycles and three-wheelers globally.
Yamaha Motor Co., Ltd.: A Japanese manufacturer that produces a wide range of motorcycles, scooters, and other motorized products.
Piaggio & C. S.p.A.: An Italian company known for its iconic Vespa scooters, which are popular worldwide.
TVS Motor Company Limited: Another major Indian player, TVS is known for its diverse range of two-wheelers, including motorcycles, scooters, and mopeds.
Harley-Davidson, Inc.: An American manufacturer of premium motorcycles, known for its heavy-duty and high-performance bikes.
Suzuki Motor Corporation: A Japanese company that produces motorcycles, automobiles, and outboard motors, with a strong global presence.
Kawasaki Heavy Industries, Ltd.: A Japanese multinational corporation known for its high-performance motorcycles and other motorized products.
Honda Motor Co., Ltd.: One of the largest manufacturers of motorcycles and scooters globally, with a strong presence in Asia Pacific and other regions.
BMW Motorrad: The motorcycle division of the German automaker BMW, known for its premium and luxury motorcycles.
The competitive landscape of the two-wheeler market is characterized by ongoing innovation and strategic initiatives by key players. Companies are focusing on expanding their product portfolios, particularly in the electric segment, to cater to the growing demand for environmentally friendly vehicles.
For instance, Honda Motor Co., Ltd. plans to release several new e-2W models over the next three years, aiming to capture a larger share of the global market.
Mergers and acquisitions (M&A) are also playing a crucial role in shaping the competitive landscape of the two-wheeler market. Companies are engaging
in M&A activities to strengthen their market positions, expand their product offerings, and enter new markets. These strategic moves are expected to drive further growth in the global two-wheeler market.
One of the most significant trends in the global two-wheeler market is the shift towards electrification. As governments around the world implement stricter emission regulations, consumers are increasingly turning to electric two-wheelers as a more sustainable and cost-effective alternative to gasoline-powered vehicles. This trend is expected to accelerate in the coming years, with more manufacturers introducing electric models to meet the growing demand.
Download Free Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=1416
Customers can also request 10% free customization on this report.
The integration of smart and connected technologies in two-wheelers is another key trend shaping the market. Manufacturers are increasingly incorporating features such as GPS navigation, Bluetooth connectivity, and smart dashboards in their vehicles to enhance the riding experience.
These innovations are expected to attract tech-savvy consumers, particularly in urban areas where connectivity and convenience are highly valued.
The premium motorcycle segment is witnessing robust growth, driven by rising consumer disposable incomes and the increasing popularity of leisure riding. High-capacity motorcycles, particularly those above 500cc, are in demand among enthusiasts who seek performance, style, and comfort. This segment is expected to continue growing, particularly in developed markets like North America and Europe.
The emergence of new business models, such as subscription services and bike-sharing platforms, is also influencing the global two-wheeler market. These models offer consumers flexible and cost-effective alternatives to traditional ownership, particularly in urban areas where parking and maintenance can be challenging. As these models gain traction, they are expected to contribute to the overall growth of the two-wheeler market.
Emerging markets, particularly in Asia Pacific, South America, and Africa, offer significant growth opportunities for the two-wheeler industry. Rapid urbanization, rising disposable incomes, and the increasing need for affordable transportation are driving demand in these regions. Additionally, the growing emphasis on reducing carbon emissions presents an opportunity for manufacturers to expand their electric two-wheeler offerings in these markets.
One of the key challenges facing the global two-wheeler market is regulatory compliance. As governments implement stricter emission standards and safety regulations, manufacturers must invest in research and development to ensure their vehicles meet these requirements. Compliance with varying regulations across different regions can also be complex and costly for companies operating on a global scale.
The two-wheeler market is also facing competition from alternative mobility solutions, such as electric bicycles, ride-sharing services, and public transportation.
These alternatives offer consumers different options for urban commuting, which could impact the demand for two-wheelers. Manufacturers must innovate and adapt to changing consumer preferences to stay competitive in this evolving landscape.
The global two-wheeler market is expected to continue its growth trajectory over the forecast period (2018-2028), driven by rising demand in emerging markets, the shift towards electric vehicles, and the increasing popularity of premium motorcycles. The market is projected to expand at an impressive compound annual growth rate (CAGR), with Asia Pacific leading the way in terms of both volume and revenue growth.
Technological advancements, particularly in battery technology and smart connectivity, are expected to play a crucial role in the future of the two-wheeler market.
As manufacturers continue to innovate and introduce new features, consumers will have access to more advanced and environmentally friendly vehicles. These advancements will also help manufacturers meet regulatory requirements and stay competitive in the global market.
To capitalize on the growing demand for two-wheelers, manufacturers are likely to expand their product portfolios, particularly in the electric segment. Companies will focus on offering a wider range of electric two-wheelers, catering to different consumer segments, from budget-conscious buyers to premium customers. This expansion will be essential for capturing market share and driving future growth.
The global two-wheeler market is poised for significant growth over the next decade, driven by rising demand in emerging markets, the shift towards electric mobility, and ongoing technological advancements.
While the market presents numerous opportunities, manufacturers must navigate challenges such as regulatory compliance and competition from alternative mobility solutions. By staying innovative and responsive to changing consumer preferences, companies can capitalize on the evolving landscape and secure a strong position in the global two-wheeler market.
You may also read:
Saudi Arabia Smart Tire Market {2028} Latest Trends and Growth Predictions
Agricultural Tires Market Trends 2028 Overview, Share, and Growth Predictions
Canada Tire Market {2028}: Growth Trends, Forecast, and Market Analysis
Electric Two-Wheeler Battery Swapping Market Forecast {2028} Growth, Trends, and Share
We do not claim ownership of any content, links or images featured on this post unless explicitly stated. If you believe any content or images infringes on your copyright, please contact us immediately for removal ([email protected]). Please note that content published under our account may be sponsored or contributed by guest authors. We assume no responsibility for the accuracy or originality of such content. We hold no responsibilty of content and images published as ours is a publishers platform. Mail us for any query and we will remove that content/image immediately.
Copyright © 2024 IndiBlogHub.com. Hosted on Digital Ocean