E-hailing to Lead Asia-Pacific Motorcycle Taxi Market until 2024
Surging cab fares, congested
roads and
increasing use of motorcycles as they are the more convenient mode of transport
in comparison to public transport to drive Asia-Pacific motorcycle taxi market
through 2024
According
to TechSci Research report, “Asia-Pacific Motorcycle Taxi Market By Two-Wheeler Type, By
Type, By Payment Mode, By Country, Competition, Forecast & Opportunities,
2014 – 2024”, Asia-Pacific motorcycle taxi market is expected to
register growth during the forecast period. Owing to rising urbanization,
travel demand and number of vehicles on the road is increasing, leading to
traffic congestion in major cities. Moreover, high penetration of smartphones
and low-cost of rides are further expected to aid the region’s motorcycle taxi
market in coming years.
In
terms of two-wheeler type, motorcycle segment is anticipated to account for the
largest market share during forecast period, as motorcycles have high speed and
higher fuel efficiency when compared with scooters. E-hailing is gaining
traction and is expected to capture leading share in Asia-Pacific motorcycle
taxi market, owing to increasing proliferation of smartphones and 4G services
allowing easy booking and tracking of rides. Based on the payment mode, riders
are preferring online payment due to attractive offers on mobile wallet.
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Major players operating in Asia-Pacific
motorcycle taxi market are Uber Technologies Inc., GOJEK Ltd., ANI Technologies
Pvt. Ltd., (OLA), Rapido Ltd., Madhatters Voyage Pvt Ltd. and GrabTaxi Holdings
Pte. Ltd. Companies
operating in the market are adopting organic and inorganic strategies such as
product launch, investments & expansions and agreements & contracts to
ensure growth in the market. Rapido has received angel investment for expanding
its operations over the past few years. In 2017, Uber started uberMOTO to offer
convenient motorcycle rides in India.
“Following the success of Go-Jek and Grab in Southeast Asian countries,
motorcycle taxi aggregators have started offering services in India. As of 2018, 14 states in
India accept motorcycle taxis as transport and more than 10 states are
discussing with stakeholders to legalize motorcycle taxis in the country. Asia-Pacific
motorcycle taxi market is expected to witness significant growth, as it solves
problems of poor last-mile connectivity, limited public transport and congested
roads.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Asia-Pacific
Motorcycle Taxi Market By Two-Wheeler Type, By Type, By Payment Mode, By
Country, Competition, Forecast & Opportunities, 2014 – 2024” has evaluated the future growth potential of Asia-Pacific
motorcycle taxi market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Asia-Pacific motorcycle taxi
market.
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