How Big is the Two Wheeler Market?

The Global Two-wheeler Market is projected to grow at a CAGR of around 8.0% during the forecast period, i.e., 2023-28. With comprehensive past adoption in racing, cruising, and sports-related activities, two wheeler vehicles, especially motorcycles that either run with the ignition of conventional gasoline or are powered by electricity, have found grounds over the years. Although the manufacturing of two-wheelers took a downturn with subsequent lockdowns and curfew situations due to the covid-19 pandemic, the demand side witnessed a swift surge. Moreover, customers displayed an increasing interest in such vehicles citing contamination risk while traveling through public transportation. Given this, most economies registered an inflated increase in two wheelers sales. For instance, North America and Europe recorded motorcycle and moped sales growth.

Market Statistics

• Market Growth Rate (CAGR): 0% from 2023-2028

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Two Wheeler Market Insight:

Driver-

The Rapid Urbanization Prompting the Need for Compact Commuting Solutions

According to the United Nations (UN) Department of Economics and Social Affairs, it is predicted that 68% of the world population is expected to live in urban areas by 2050. As a result, the rising road congestion, insufficient mobility infrastructures, and lack of parking spaces necessitate the demand for compact commuting solutions in developed and developing economies, improving market growth.

Besides, standard bikes are witnessing accelerating demand over traditional motorcycles due to the low initial price driven by the developing economic strength of the urban middle-class population. Furthermore, the sudden surge in gasoline prices makes the urban and rural populace prefer mopeds, motorcycles, and standard bikes from four-wheelers. Other than this, the minimal maintenance required by such vehicles provides the necessary impetus required for further market expansion.

 Two Wheeler Market Segmentation:

The report has segmented the market into the following categories:

By Type of Fuel

• Gasoline
• Petrol
• Diesel
• LPG/CNG
• Battery

By Vehicle Type

• Moped
• Scooter
• Motorcycle

By Application

• Personal Use
• Commercial Use

By Type of Engine Capacity

• Up to 125 cc
• 126 to 250 cc
• 251 to 500 cc
• Above 500 cc

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

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Competitive Landscape:

• Hero Moto Corp.
• Yamaha Motor Co., Ltd.
• Harley Davidson
• TVS Motors
• BMW Motorrad
• Piaggio & C.S. p.A
• Bajaj Auto Ltd.
• Kawasaki Heavy Industries, Ltd
• Suzuki Motor Corporation
• Honda Motor Co., Ltd.

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key Highlights of the Report:

• Market Performance (2023-2028)
• Strategic Recommendations
• Current, Historical and Future Market Trends
• Market Drivers and Leading Competitor
• SWOT Analysis
• Structure of the Market
• Comprehensive Mapping and Recent Advancement

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