Two-Wheeler Market By Vehicle Type (Scooter, Motorcycle), By Propulsion (ICE, Electric), By Price (Low, Medium, High): Global Opportunity Analysis and Industry Forecast, 2023-2032
A two-wheeler refers to a class of vehicles that are designed to be ridden on two wheels, providing a popular and efficient mode of personal transportation. Two main types of two-wheelers are scooters and motorcycles. A scooter is characterized by a step-through frame and a platform for the rider's feet, allowing for a more relaxed riding posture. Typically equipped with smaller engines, scooters are known for their ease of use, fuel efficiency, and automatic transmissions. On the other hand, motorcycles have a more traditional design with a straddle seat and manual transmission. They often feature larger engines, providing higher performance and a more dynamic riding experience. Both scooters and motorcycles are widely used for commuting and recreational purposes, offering individuals a nimble and cost-effective means of navigating urban environments or enjoying open roads.
Developing countries are becoming increasingly urbanized, increasing the demand for compact, affordable, individual transport solutions. As cities grow and traffic congestion increases, motorcycles and scooters provide convenient and efficient transportation options, driving the market growth. The rise of the middle class in emerging markets is also a key factor, as consumers seek affordable and stylish two-wheelers as a symbol of upward mobility. Additionally, the global focus on environmental sustainability is driving the adoption of electric two-wheelers, presenting a significant growth opportunity, and consumer demand for cleaner and greener transportation options. In response, manufacturers are investing in research and development to improve electric vehicle technology. Expanding financing options and rural market penetration further expands the consumer base and open new growth prospects.
Consumer preferences are changing due to expanded regulatory standards, bans on internal combustion engine (ICE) cars, lower import duties on electric vehicles, and improved battery charging infrastructure. They use electric two-wheeler instead of traditional two-wheeler. Electric two-wheeler are lightweight, easy to use, and battery-powered. This means you can use it for short trips or local sightseeing. Additionally, the demand for electric two-wheeler is increasing due to their high mechanical efficiency, low noise levels, low total cost of ownership, and low maintenance. Furthermore, in developed countries, the use of electric two-wheeler for sharing services is increasing, and the scooter market is expected to grow. A country's economic development largely depends on its road connectivity. Governments in emerging market countries are investing in building safe and reliable roads. Investment in road construction has created new growth opportunities for the transport and logistics sector. Many entrepreneurs are starting to enter the logistics market by starting their own companies or partnering with existing companies. Therefore, a vehicle is needed to deliver the goods in minimum time and cost. Scooters are one of the preferred vehicles. Scooters avoid traffic jams and use less fuel than bicycles, mopeds, and cars.
The global two-wheeler market is segmented into body type, technology, price, and region. Depending on the body type, the market is segregated into scooter and motorcycle. By technology, it is categorized into Internal Combustion Engine (ICE) and Electric. As per price, it is fragmented into low, medium, and high. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the global two-wheeler market include Honda Motor Co., Ltd., Bajaj Auto Ltd., BMW AG, Hero Moto Corp., Kawasaki Motors Corp., USA, Piaggio & C. SpA, Suzuki Motor Corporation, Triumph Motorcycles, TVS Motor Company, and Yamaha Motors Co.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the two-wheeler market analysis from 2022 to 2032 to identify the prevailing two-wheeler market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the two-wheeler market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global two-wheeler market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Vehicle TypeScooter
Motorcycle
By PropulsionICE
Electric
By PriceLow
Medium
High
By RegionNorth America
U.S.
Canada
Mexico
Europe
UK
Germany
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersHero MotoCorp Limited
Piaggio & C. SpA
BMW AG
TVS Motor Company
Bajaj Auto Ltd.
Yamaha Motor Co., Ltd.
Suzuki Motor Corporation
Honda Motor Co., Ltd.
Triumph Motorcycles
Kawasaki Heavy Industries, Ltd.
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