Growing traffic congestion, ease of maneuverability and higher fuel efficiency than other vehicle types to drive global two wheeler market through 2024
According to TechSci Research report, “Global Two Wheeler Market By Vehicle Type, By Engine Capacity, By Region, Competition, Forecast & Opportunities, 2014 – 2024”, two-wheeler market is projected to cross $ 125 billion by the end of 2024, backed by their easy maneuverability and lower carbon emissions. Moreover, growing tourism is translating into the demand for two wheelers, as they are commonly used by travelers. In South America and Africa, lack of public transportation network is a major factor fueling the sales of two wheelers in the regions. Though two wheeler market in South America, Middle East and Africa witnessed a negative CAGR during 2014-2018 due to crude oil price crisis and political instability, the governments across different countries are taking steps to make the economy and market stable. Thus, two wheeler market is anticipated to recover in these regions.
Global two-wheeler market is segmented by vehicle type, by engine capacity, and by region. In terms of regional analysis, Asia Pacific led the market in 2020 and the trend is expected to continue through 2026. Huge population base and lack of proper infrastructure in several countries are aiding the region’s dominating position in the market. Growing traffic congestion in several countries in the region is further anticipated to fuel the two-wheeler market in the region during the forecast period.
Some of the major players operating in global two-wheeler market are Hero MotoCorp Ltd., Bajaj Auto Ltd., Yamaha Motor Co., Ltd., Piaggio & C. S.p.A., TVS Motor Company Limited, Harley Davidson, Suzuki Motor Corporation, Kawasaki Heavy Industries, Ltd., Honda Motor Co., Ltd. and BMW Motorrad.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Browse 156 market data Tables and 563 Figures spread through 512 Pages and an in-depth TOC on "Global Two Wheeler Market"
Objective of the Study:
- To analyze and forecast global two-wheeler market size.
- To classify and forecast global two-wheeler market based on engine capacity type, vehicle type and region.
- To identify drivers and challenges for global two-wheeler market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global two-wheeler market.
- To conduct the pricing analysis for global two-wheeler market.
- To identify and analyze the profile of leading players engaged in the manufacturing of two-wheelers.
To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of two-wheeler distributors and dealers operating globally. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels, and regional presence of all major two-wheeler companies across the globe.
TechSci Research calculated global two-wheeler market size using a bottom-up technique, wherein sales volume data of different vehicle types were recorded as well as forecast for the future years. TechSci Research sourced the data from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such as ACEM, JAMA, ASEAN, ANDI, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Two-wheeler manufacturers, suppliers, distributors and other stakeholders
- Associations, organizations, forums and alliances related to two-wheelers
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
Scooter/moped segment accounted for more than half of the global two wheeler market in 2018. The segment is expected to maintain its market dominance in the coming years, backed by increasing demand for low-engine capacity scooters and rising number of female drivers. Growing demand from economical mobility service providers and increasing consumer inclination towards small and easy maneuverable automobiles, especially for commuting, is expected to aid market growth across the globe.
Major two-wheeler giants such as Bajaj, Honda and Yamaha are enhancing their product offerings to further boost their customer base. On the other hand, many Chinese two wheeler manufacturers such as Lifan, Loncin and Zongshen are intensifying their business operations by collaborating with global companies to enhance the quality of their products by investing in research & development. Several global companies are also investing intensively to provide their customers with more affordable and premium two wheelers.
“Growing presence of various multinational companies such as Honda, Suzuki, Yamaha, Bajaj, Hero MotoCorp, Italika and BMW coupled with their continued research & development to meet the customized demand and offer a wide product range is expected to intensify global two wheeler market in the coming years. Moreover, rising average selling price of two wheelers, growing sales of two wheelers and increasing demand for higher capacity models in emerging markets are anticipated to boost revenue of global two wheeler market during 2019-2024.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Two Wheeler Market By Vehicle Type, By Engine Capacity, By Region, Competition, Forecast & Opportunities, 2014 – 2024” has analyzed the potential of two wheeler market, globally, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by the two-wheeler market across the world.