APAC Two Wheeler Market to Reach USD 119.55 Billion by 2029
Rising demand for economical
and personal means of transportation coupled with increasing female riders,
improving road infrastructure and growing popularity of bank financing facilities
to boost two-wheelers market in APAC
According
to TechSci Research report, “APAC
Two Wheeler Market By Vehicle Type (Scooter/Moped, Motorcycle), By Engine
Capacity (Up to 125cc, 126cc- 250cc, 251-500cc & Above 500cc), By Country (India,
China, Indonesia, Vietnam, Pakistan, Philippines, Thailand, Bangladesh,
Malaysia, Japan, and Rest of the APAC), Competition, Forecast &
Opportunities, 2025”, APAC two-wheeler market is
forecast to grow at CAGR of 8.63% to reach USD 67.52 Billion by 2025. owing to rising
demand for economical personal transportation across the region. Moreover, a
tremendous rise in the per capita income of people in the APAC region over past
few years has led to increasing consumer spending, which is driving demand for
economical, safe and personal means of transportation. Moreover, increase in number
of female riders, growing road infrastructure and rising popularity of bank
financing will be the key factors responsible for the growth of two-wheelers
market in APAC during the forecast period.
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APAC two wheeler market is classified based on vehicle type, by engine
capacity, and by country. Based on vehicle type, the market is segmented into scooters/mopeds
and motorcycles. Scooters/Mopeds account for a majority share in APAC two wheeler
market due to their automatic transmission and comfortable ride, however, the motorcycle
segment is expected to grow at a faster growth rate during the forecast period.
India, China, and Indonesia are the top three
demand generating countries for two wheelers in the APAC. In 2020, India,
China, and Indonesia cumulatively accounted for over 75% of the APAC two
wheeler market in volume terms. Two wheelers are in high demand in these
countries owning to the occurrence of massive road congestions, especially in
the peak hours, as a result of high population density. Moreover, these
countries comprise of price sensitive consumers for whom owning a passenger car
can be a costly affair, thus, two wheelers appears as the most convenient
alternative because of their lower price than passenger cars.
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“In APAC two wheeler market, up to 125 cc engine capacity two wheeler
segment is leading the market with a market share of around 80% in 2020 in
volume terms. Owing to the availability of a wide range of up to 125 cc engine
capacity two wheeler models by various brands at lower prices and better fuel
economy, demand for up to 125 cc engine capacity two wheelers in APAC continues
to grow.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“APAC
Two Wheeler Market By Vehicle Type (Scooter/Moped, Motorcycle), By Engine
Capacity (Up to 125cc, 126cc- 250cc, 251-500cc & Above 500cc), By Country (India,
China, Indonesia, Vietnam, Pakistan, Philippines, Thailand, Bangladesh,
Malaysia, Japan, and Rest of the APAC), Competition, Forecast &
Opportunities, 2025” has
evaluated the future growth potential of APAC two-wheeler 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 APAC two wheeler market.
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