Malaysia Two Wheeler Market to be Valued USD 1.07 Billion Until 2025
Growing concerns regarding
rising greenhouse gas emission levels coupled with increasing price
competitiveness of electric two wheelers to drive electric two wheeler market
of Malaysia
According
to TechSci Research report, “Malaysia
Two Wheeler Market, By Vehicle Type (Motorcycle, Scooter/Moped), By Engine Capacity (Up to 125cc,
126-250cc, 250-500cc and Above 500cc) By
Company and By Geography, Forecast & Opportunities, 2025”, Malaysia two wheeler market was valued USD 0.81 Billion
in 2019 and is forecast to grow at CAGR of 8.96% until 2025, to reach USD 1.07
Billion by 2025. Growing number of passenger and commercial vehicles
have increased the congestion on roads, which has a direct effect on the usage
of two wheelers in Malaysia. Travelling through highly congested areas is
easier for two wheelers because of their light weight and high manoeuvrability.
Two wheelers help in saving travel time, by the virtue of their high
manoeuvrability, which makes travelling easier in congested traffic and narrow
streets as compared to passenger cars. Thus, growing congestion on roads in
Malaysia is resulting in increase in demand for two wheelers due to their high
manoeuvrability and cost effectiveness.
One of
the primary reasons for growing demand for two wheelers in Malaysia is that
they provide better mileage compared to passenger cars, owing to smaller sizes
and lighter weight. High motorcycle fuel efficiency also reduces travel cost.
Moreover, two wheelers don’t have any peripheral units which consume power from
engine. Also, in comparison to passenger cars, the maintenance cost of two
wheelers is comparatively lower with the annual maintenance cost of a two
wheeler being approximately one-third of the maintenance cost of a small
passenger car. Furthermore, the tax and insurance cost incurred in owning a two
wheeler is also low compared to passenger car. Thus, better fuel economy, low
maintenance cost and low cost of ownership are among the major driving factors
boosting demand for two wheelers in Malaysia.
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Malaysia
electric two wheeler market can be segregated based on vehicle type, battery
capacity, battery type and region. Malaysia two wheeler market was dominated by
scooters, capturing a volume share of more than 65% in 2019, predominantly due
to their lower prices, better maneuverability and the increasing preference of
these vehicles by the female population. The country is witnessing massive
growth in employment among the female population. More and more women are
taking up service jobs where they are required to travel every day. Keeping in
mind their personal mobility and safety, scooters appears as a convenient
travel option.
Major
companies operating in the economy include Boon Siew Honda Sdn Bhd, Suzuki Malaysia Sdn Bhd, Hong Leong Yamaha Motor,
TVS Motor Company, Kawasaki Motors (Malaysia) Sdn Bhd, Sanyang Motor Co., KTM
Malaysia, Motosikal dan Enjin Nasional Sdn Bhd, Harley Davidson Petaling Jaya
and Eclimo Sdn Bhd., among others.
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“Electric two wheelers exhibit huge growth potential and the market is
projected to witness a CAGR of 16.20% during the forecast period, in volume
terms. Even though the current purchasing cost is higher than that of the
conventional counterpart, but in the near future the price is expected to
decline to a large extent with the continuous decline in battery cost which
accounts for a huge cost share of an electric vehicle. From 2010 to 2020, the
cost of batteries declined by almost 15%, which is further expected fall by 30
to 35% during the forecast period.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Malaysia Two Wheeler
Market, By Vehicle
Type (Motorcycle, Scooter/Moped), By Engine
Capacity (Up to 125cc, 126-250cc, 250-500cc and Above 500cc) By Company and By Geography, Forecast &
Opportunities, 2025” has analyzed the potential of Malaysia electric two wheeler market
across the country, and provides statistics and information on market sizes,
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 analyzes emerging trends
along with essential drivers and key challenges faced by Malaysia electric two
wheeler market.
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