APAC to Continue Leading Global Two Wheeler Market
Growing
traffic congestion, ease of
maneuverability and higher fuel efficiency than other vehicle types to
drive global two wheeler market through 2024
According to TechSci Research report, “Global
Two
Wheeler Market By Vehicle Type, By
Engine Capacity, By Region, Competition, Forecast & Opportunities, 2014 –
2024”, two-wheeler market is projected to cross $ 125 billion
by the end of 2024, backed by their easy maneuverability and lower carbon
emissions. Moreover, growing tourism is translating into the demand for two wheelers,
as they are commonly used by travelers. In South America and Africa, lack of
public transportation network is a major factor fueling the sales of
two wheelers in the regions. Though two wheeler market in South America, Middle
East and Africa witnessed a negative CAGR during 2014-2018 due to crude oil
price crisis and political instability, the governments across different
countries are taking steps to make the economy and market stable. Thus, two wheeler
market is anticipated to recover in these regions.
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Tables and 563 Figures spread through 512 Pages and an
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Scooter/moped segment accounted for more than
half of the global two wheeler market in 2018. The segment is expected to
maintain its market dominance in the coming years, backed by increasing demand
for low-engine capacity scooters and rising number of female drivers. Growing demand
from economical mobility service providers and increasing consumer inclination
towards small and easy maneuverable automobiles, especially for commuting, is
expected to aid market growth across the globe.
Major two-wheeler giants such as Bajaj, Honda
and Yamaha are enhancing their product offerings to further boost their
customer base. On the other hand, many Chinese two wheeler manufacturers such
as Lifan, Loncin and Zongshen are intensifying their business operations by
collaborating with global companies to enhance the quality of their products by
investing in research & development. Several global companies are also
investing intensively to provide their customers with more affordable and
premium two wheelers.
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“Growing presence of various multinational
companies such as Honda, Suzuki, Yamaha, Bajaj, Hero MotoCorp, Italika and BMW coupled
with their continued research & development to meet the customized demand and
offer a wide product range is expected to intensify global two wheeler market
in the coming years. Moreover, rising average selling price of two wheelers, growing
sales of two wheelers and increasing demand for higher capacity models in
emerging markets are anticipated to boost revenue of global two wheeler market
during 2019-2024.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Two Wheeler
Market By Vehicle Type, By
Engine Capacity, By Region, Competition, Forecast & Opportunities, 2014 –
2024” has analyzed
the potential of two wheeler market,
globally, and provides statistics and information on market size, shares and
trends. The report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyses emerging trends
along with essential drivers and key challenges faced by the two-wheeler market
across the world.
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