Latin America Two-Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Latin America Two-Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The Latin America two-wheeler market size reached 10.6 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 23.7 Million Units by 2028, exhibiting a growth rate (CAGR) of 14.2% during 2023-2028.

Two-wheeler vehicles mainly include scooters, motorcycles, and mopeds. The high adoption rate of two-wheelers can be primarily attributed to their enhanced fuel efficiency, compact design, cost-effectiveness, and lower carbon emissions. Two-wheelers are one of the most versatile modes of transportation, particularly for easy maneuvering through congested roads.

 

 

 

The prevalent trend of personal vehicle ownership, particularly among the millennial population, is driving the demand for two-wheelers in Latin America. Additionally, the increasing number of women commuters, especially across Brazil, Mexico, Argentina, etc., is also augmenting the sales of two-wheelers. In line with this, several regional manufacturers are launching specialized vehicles designed to cater to the preferences of the women population. Moreover, the growing penetration of various international two-wheeler OEMs in the region is also driving the market growth. In line with this, improving consumer living standards supported by their rising disposable income levels are catalyzing the demand for advanced and highly-powered motorcycles and scooters. Furthermore, the rapid launch of new, attractive two-wheeler models equipped with the latest technologies at affordable prices is also propelling the market in Latin America. Apart from this, the rising environmental concerns towards increasing vehicular pollution levels have augmented the need for electric two-wheelers. In the coming years, the growing number of government initiatives for promoting the adoption of electric and hybrid two-wheelers will continue to drive the market growth in Latin America.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America two-wheeler market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, fuel type, engine capacity and technology.

Breakup by Vehicle Type:

 

 

 

Motorcycle
Scooter
Moped
 

Breakup by Fuel Type:

Gasoline
Electric
 

Breakup by Engine Capacity:

Less than 100cc
100-125cc
126-250cc
250-500cc
More than 500cc
 

Breakup by Technology:

Manual
Automatic
 

Breakup by Country:

Brazil
Mexico
Colombia
Argentina
Peru
Ecuador
Chile
Others
 

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Bajaj Auto Limited (Bajaj Group), Dafra Motos (Itavema S/A), Honda de México S.A. de C.V. (The Honda Motor Company Ltd.), Kawasaki Motors Manufacturing Corp. U.S.A. (Kawasaki Heavy Industries, Ltd.), Lifan Industry (Group) Co. Ltd, Motomel S.A., Shineray Do Brasil SA, Suzuki Motor Corporation, TVS Motor México (TVS Motor Company Limited), Wanxin Group International, Yamaha Motor de México SA de CV (Yamaha Motor Co. Ltd.), Zanella Hnos & Cia SACIFI., and Zongshen Automobile Industry Manufacturing Co. Ltd. (Zongshen Industry Group Co. Ltd.).

Key Questions Answered in This Report:

How has the Latin America two-wheeler market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Latin America two-wheeler market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the fuel type?
What is the breakup of the market based on the engine capacity?
What is the breakup of the market based on the technology?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the Latin America two-wheeler market and who are the key players?
What is the degree of competition in the industry?