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Written by rockyrai » Updated on: November 19th, 2024
IMARC Group's report titled " Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global two-wheeler market share. The global market size reached US$ 130.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 230.7 Billion by 2032, exhibiting a growth rate (CAGR) of 6.58% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/two-wheeler-market/requestsample
Factors Affecting the Growth of the Two-Wheeler Industry:
The increasing affordability of two-wheelers is bolstering the market growth. Compared to cars, two-wheelers are much more cost-effective, both in terms of initial purchase cost and upkeep costs. This affordability makes them an attractive option for a large segment of the population. Two-wheelers offer a relatively low-cost mode of motorized transport, bridging the gap between public transport and private car ownership. This aspect is particularly appealing in regions with limited public transportation infrastructure. Additionally, the ongoing advancements in two-wheeler technology are making them more fuel-efficient and cost-effective to operate, further boosting their appeal to cost-conscious buyers.
The rising integration of advanced technologies in two-wheelers is impelling the market growth. Modern two-wheelers are equipped with features, such as anti-lock braking systems (ABS), fuel injection, advanced suspension systems, and even connectivity features that synchronize with smartphones for navigation, music control, and ride analytics. Electric two-wheelers, in particular, are at the forefront of this technological evolution, incorporating innovations in battery technology, motor efficiency, and regenerative braking. These advancements enhance the overall riding experience, safety, and efficiency of two-wheelers, making them more attractive to tech-savvy users. Additionally, the increasing development of autonomous and semi-autonomous two-wheelers for enhanced safety and convenience is supporting the market growth.
The rising popularity of motorcycle tourism and leisure activities is strengthening the market growth. Motorcycles, particularly in the premium segment, are increasingly being viewed not just as a mode of transportation but as a lifestyle choice. Enthusiasts often embark on long-distance tours and off-road adventures and participate in motorcycling events, which is driving the demand for touring bikes, cruisers, and adventure motorcycles. Manufacturers are offering a wide range of motorcycles designed for comfort, long-distance travel, and off-road capabilities. Additionally, the growing number of motorcycle clubs and communities, along with an increase in motorcycle-related events and rallies, are further promoting the culture of motorcycle tourism and leisure riding. This trend is particularly crucial in regions with scenic landscapes and developed road networks.
Leading Companies Operating in the Global Two-Wheeler Industry:
Two-Wheeler Market Report Segmentation:
By Type:
Motorcycle dominates the market, attributed to their widespread popularity among users for personal transportation needs.
By Technology:
ICE represents the largest segment due to its affordability.
By Transmission:
Manual holds the biggest market share, attributed to the growing preferences for control and affordability.
By Engine Capacity:
100-125cc segment accounts for the majority of the market share, offering a balance between fuel efficiency and power.
By Fuel Type:
Petrol exhibits a clear dominance in the market as it aligns with the prevailing infrastructure and user preferences.
By End-User:
Personal holds the biggest market share, driven by individual transportation needs.
By Distribution Channel:
Offline channels represent the largest segment due to the increasing presence of brick-and-mortar dealerships and showrooms.
Regional Insights:
Asia Pacific’s dominance in the telehandler market is attributed to the need for affordable and convenient two-wheeler transportation.
Global Two-Wheeler Market Trends:
The increasing adoption of electric two-wheelers (E2Ws) due to environmental concerns, advancements in battery technology, and supportive government policies are contributing to the market growth. E2Ws provide an eco-friendly alternative to traditional gasoline-powered motorcycles and scooters, with benefits like lower operating costs and reduced emissions. This trend is particularly strong in urban areas, where short commutes and the need for sustainable transportation solutions are more pronounced. Manufacturers are responding by expanding their E2W portfolios, offering models with improved range, performance, and affordability.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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