Two Wheeler Market Forecasts to 2028 – Global Analysis By Fuel Type (Diesel, LPG/CNG, Gasoline, Battery, Petrol and Other Fuel Types), Transmission (Automatic, Manual and Other Transmissions), Engine Capacity, Technology, End User and By Geography

Two Wheeler Market Forecasts to 2028 – Global Analysis By Fuel Type (Diesel, LPG/CNG, Gasoline, Battery, Petrol and Other Fuel Types), Transmission (Automatic, Manual and Other Transmissions), Engine Capacity, Technology, End User and By Geography

According to Stratistics MRC, the Global Two Wheeler Market is accounted for $16007.84 million in 2022 and is expected to reach $31394.06 million by 2028 growing at a CAGR of 11.88% during the forecast period. Two-wheelers refer to vehicles that are commonly utilized for travelling small distances. They assist in easy direction through congested roads. These primarily consist of motorcycles, mopeds and scooters that are either manual or powered by fuel/electric motors. Two-wheelers are bifurcated based on long-distance travel, cruising, racing, off-road riding, etc. They have numerous advantages such as a more compact design, lower costs and higher fuel economy. It provides several operational benefits and reduces maintenance costs. They are cost-effective means of transportation. They shorten travel time and have access to better affordability.

According to Antonio Perlot, Secretary General of the European Association of Motorcycle Manufacturers (ACEM), electric motorcycles witnessing a year-on-year growth of 50.5% and electric mopeds are recording an increase of 23.3% respectively.

Market Dynamics:

Driver:

Maneuverability and Speed

The two wheelers are light in weight, have a glossy design and are easier to maneuver. They are easy to commute in heavy traffic or in congested lanes which enables to reach the destination on time. It is easier to park the vehicle and it also occupies less space. The speed is faster due to its pickup and it also provides a thrill quotient. All these factors are propelling the market growth in the forecast period.

Restraint:

Safety concerns

Motorcycles and mopeds have least protective features for the riders. They have minimal inbuilt safety related parts and devices. Out-of-control bike can be disastrous for pedestrians. The misaligned mirrors and improper safety gear causes huge risk and can also lead to the death of an individual. All these factors are hindering the growth of the market.

Opportunity:

Rising demand for electric two wheeler vehicles

The demand for electric vehicles is growing at a very rapid pace. These vehicles use renewable resources of energy and are contributing to the significant growth of the two-wheeler segment. Government is also providing subsidies and tax exemptions on purchasing electric vehicles. The launch of battery swapping policy and the Fame-II Policy are fuelling the growth of the market.

Threat:

Lack of storage & limited travel distance

The two wheeler vehicles contribute to travel only for shorter distances. It has very little storage capacity. If more weight is added, the unbalanced pressure leads to accidents. The long time travelling results in risk of illness. It weakens immune system and there is higher susceptibility to injuries. All these factors hamper the growth of the market.

Covid-19 Impact

The covid-19 impact was varied across different regions. Some regions witnessed plummeting sales and some regions has huge rise. The market demand fell totally due to imposition of lockdown. The market recovery was further aided by increasing demand for electric 2 wheelers. Adopting these vehicles for short range travelling and commuting to avoid unnecessary social interactions positively influenced the market growth.

The personal segment is expected to be the largest during the forecast period

The personal segment is estimated to have a lucrative growth, due to the increasing population. Two wheeler vehicles provide low maintenance and fuel efficiency. They are easy to handle. They are very economical and best for work purposes. These vehicles are more convenient for individuals for daily usage. All these aspects are driving the market share.

The motorcycle segment is expected to have the highest CAGR during the forecast period

The motorcycle segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising disposable income of consumers and improvement of living standards. Motorcycles provide customization and feasibility. It offers variety of purposes such as sports activity, commuting, long-distance travel, racing and off-road riding which are fuelling the market growth.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to traffic congestion and rise in single person households. This region has the huge population and facing rapid technological development and upsurge in the demand for shared mobility and delivery services. Government is providing subsidies and loan waivers. Growing popularity of bank financing is driving the market growth in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to its power sports activities in the region. Growing technological advancements, racing activities and more extensive ownership of personal 2-wheelers are growing rapidly in this region. This region has jam-packed roads which increased the usage of E-bikes. Major automotive bearing manufacturers across this region are fuelling the market demand.

Key players in the market

Some of the key players profiled in the Two Wheeler Market include TVS Motor Company, Hero MotoCorp Ltd, Maruti Suzuki India Limited, Bajaj Auto Ltd, Honda Motorcycle & Scooter India Pvt. Ltd, Yamaha Motor India Private Limited, Hero Electric Pvt Ltd, Eicher’s Motor Limited, Okinawa Autotech Pvt Ltd, BMW Motorrad International, Piaggio Vehicles Pvt ltd, Energica Motor Company Inc, Kawasaki, Triumph Motorcycles Ltd, Royal Enfield, Harley Davidson

Key Developments:

In December 2022, BMW Motorrad launched CE 04 electric scooter in India. It gets a permanently excited liquid-cooled synchronous motor, which develops maximum power of 42hp and peak torque of 62Nm. The CE 04 will be the country's maiden high-end luxury electric two-wheeler upon its introduction.

In May 2021, Harley-Davidson Launched LiveWire, the Electric Motorcycle Brand. LiveWire creates a unique connection between rider and vehicle. LiveWire is more than a motorcycle delivering the best experience for the urban rider with personality and soul.

Vehicle Types Covered:
• Scooters
• Motorcycle
• Electric Two-Wheeler
• Mopeds
• Other Vehicle Types

Fuel Types Covered:
• Diesel
• Liquefied Petroleum Gas (LPG)
• Gasoline
• Battery
• Petrol
• Other Fuel Types

Engine Capacities Covered:
• <100cc
• 100-125cc
• 126-180cc
• 181-250cc
• 251-500cc
• 501-800cc
• 801-1600cc
• >1600cc
• Other Engine Capacities

Transmissions Covered:
• Automatic
• Manual
• Other Transmissions

Technologies Covered:
• Electric
• Internal Combustion Engine (ICE)
• Other Technologies

End Users Covered:
• Personal
• Commercial
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements