Market Overview
180 pages report analyses The Automotive Two-wheelers Market is expected to grow at a Significant CAGR during the forecast period 2024-2031 | The Automotive Two-wheelers Market Size, Shares recent trends, Competitive Intelligence and future market outlook. Two-wheelers market growth is primarily driven by the rising use of the two-wheelers in the business. Asia-Pacific holds the largest market share for Two-wheelers Market. The Competitive rivalry intensifies with Honda, Yamaha, Hero Moto Corp, Bajaj Auto, and TVS. others operating in the market
Automotive Two-wheelers are the most versatile form of transportation. The adaptative ability of a motorized two-wheeler can be characterized by its usage. It is used just used for commuting, quickly transporting small packages of goods through traffic and other uses. Now, the two-wheelers are powered by electric batteries or by internal combustion engines using fossil fuel.
The report covers all the major trends and drivers playing a vital role in the growth of the global Two-wheelers market. The global Two-wheelers market has been segmented based on Region, Vehicle Type, and Fuel Type.
Market Summary
| Metrics | Details |
| Market CAGR | Prominent Growth |
| Segments Covered | By Vehicle Type, By Fuel Type, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Largest Market Share | Asia Pacific |
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Market Dynamics
The global Two-wheelers market growth is primarily driven by the rising use of the two-wheelers in the business. The rise in delivery services and two-wheelers taxis in developing nations like India, China, Indonesia and others is the major driver for the two-wheeler market in the forecast period. Gurugram-headquartered food delivery and restaurant-discovery platform Zomato has taken a plunge at experimenting with mobility in the food delivery sector as it started delivery via cycles which include mechanical and electric bikes. Zomato has partnered with Mobycy, e-HIRAN, TNT, Yulu and Zoomcar’s PEDL to provide e-cycles to aspiring delivery executives who are allotted shorter order distance — an average of 2.5 km — to ensure faster delivery.
The rise in the demand for electric two-wheelers across the world owing to government regulations to reduce carbon footprints will drive the market for the two-wheelers market for the forecast period. Governments are also investing in the promotion of electric two-wheelers. For Instance, the government of India has announced an outlay of approximately US$ 1.5 billion for Phase 2 of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles, or FAME 2 scheme, to boost electric mobility and increase the number of electric vehicles in commercial fleets.
However, the stringent regulation for emissions by petrol two-wheelers and the availability of low-cost cars in the market are the major factors that will hinder the growth of the Two-wheelers market for the forecast period.
Market Segmentation Analysis
By Vehicle Type, the global Two-wheelers market is segmented into Motorcycles, Scooters, and Mopeds. Motorcycle has the dominant position in the Two-wheelers Vehicle Type segment and is expected to retain their dominance in the forecasted period due to the rise in disposable income among the rural population in India and the growing interest among males to ride motorcycles will drive the market. The rise in delivery services and the need for extra space in the vehicle will make the scooter market grow with a higher CAGR in the forecast period.
By Fuel Type, the global Two-wheelers market is segmented into Petrol power Internal Combustion Engines, and Electric battery-powered Motors. Petrol power internal combustion engine has the dominant share in the Fuel Type segment and is expected to retain its dominance in the forecast period. However, favourable government policies and the rising awareness among the people reducing carbon footprint are expected to drive the market for electric battery-powered motors in the forecast period.
Market Geographical Share
By geography, the global Two-wheelers Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
Asia-Pacific holds the largest market share for Two-wheelers Market, due to the rise in the population coupled with the increasing disposable income of the people in the region is the major factor driving the market. China, India, Indonesia, and Malaysia are major countries owing to the larger share of the Asia-pacific two-wheeler market. Asian countries have larger penetration of the two-wheelers in the world. In India, about 102 out of 1000 people have two-wheelers, while in Indonesia 281 and in Thailand 291 which is the highest.
Europe is after Asia-Pacific in terms of market share in the global Two-wheelers market, due to the rise in the export of premium two-wheelers. The growth in urbanization, rise in disposable income and the improvement in the infrastructure for roads have increased the demand for the two-wheelers market in South African. The companies are launching new products to penetrate the market. For instance, in April 2019, Vespa’s First Electric Scooter Finally Arrived In SA.
Market Companies and Competitive Landscape
Key players are adopting strategies such as investing in R&D, new product launches, and expansion in distribution channels to stand out as strong competitors in the market. The global Two-wheelers Market is a fragmented market with the presence of various global and regional players in the market. The major players include Honda, Yamaha, Hero Moto Corp, Bajaj Auto, and TVS. Other key players in the market include Suzuki, BMW, Royal Enfield, KTM, and Piaggio.
In September 2019, Rissala Electric Motors Private Limited (REM), an electric mobility start-up, launched the Evolet brand of electric scooters, motorcycles and an electric ATV in India. The electric scooter range includes Polo Pony, Pony and Derby. All three are low-speed electric scooters.
In May 2019, Two-wheeler major Hero MotoCorp on Monday launched two new scooters - Maestro Edge 125 and Pleasure+ 110" for the domestic and international markets. Accordingly, the company launched India's first scooter with 'Fuel Injection' (FI) technology - the Maestro Edge 125.
