Press Release

Vietnam Two Wheeler Market to be dominated by Motorcycles through 2027

Rise in trend of customization and entry of foreign market players are driving the growth of Vietnam two wheeler market in the forecast period, 2023-2027.

According to TechSci Research report, Vietnam Two Wheeler Market By Propulsion Type (ICE, Electric), By Vehicle Type (Scooter/Moped, Motorcycle), By Region, Competition Forecast & Opportunities, 2027, the Vietnam two wheeler market is anticipated to grow at a rate of steady CAGR in the forecast period, 2023-2027. The demand for motorcycles for recreational and business activities and the growing availability of affordable two wheeler models are the major driving factors for the Vietnam two wheeler market. Improvement in the two wheeler vehicles by investing in innovative solutions for better mileage and larger fuel tank and low maintenance costs than four wheeler vehicles are creating lucrative opportunities for the Vietnam Two-Wheeler market growth in the forecast period. Consumers prefer two wheelers as they are easy to drive through dense traffic conditions, and the high demand for two wheelers for different sports activities such as long-distance traveling, daily commuting, racing, cruising, and other adventure activities are bolstering the market demand. The high demand for scooters among working women and the launch of two wheelers suitable for driving by women are paving the way for market growth. The government is making high-end investments in the country's infrastructure development and transportation sector to make the road suitable for traveling, and other purposes are fueling the adoption of two wheelers among consumers.

However, expanding car ownership in the country and the inability of two-wheelers to accommodate urban modernity may restrain the Vietnam two wheeler market growth for the forecast period.

Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "Vietnam Two Wheeler Market"

https://www.techsciresearch.com/report/vietnam-two-wheeler-market/8186.html

The Vietnam two wheeler market is divided into propulsion, vehicle type, company, and regional distribution.

On the basis of propulsion, the Vietnam two wheeler market is divided into ICE and electric. The ICE propulsion is expected to hold the largest market share in the forecast period, 2023-2027. The presence of a large number of vehicles running on ICE propulsion is high and has made the prominent companies capture the largest market share. Integration of safety and advanced features in two wheelers running on ICE propulsion engines and growing consumer purchasing capacity is driving the market demand in Vietnam. As ICE propulsion-based two wheelers release greenhouse emissions and the rising pollution levels in Vietnam, the government is promoting the adoption of zero-emission vehicles running on electricity and alternate energy sources. Strict emission norms and the introduction of electric two wheeler vehicle variants by market players are expected to attract a large number of customers.

On the basis of vehicle type, the Vietnam two wheeler market is divided into scooter/moped and motorcycle. The motorcycle segment is dominating the market and is expected to maintain its dominance throughout the forecast period. Improvement in living standards, growing disposable income of consumers, and rise in the young population in the country are driving the demand for motorcycles. People prefer to invest in private vehicles rather than using public transportation services for daily commuting purposes fueling the demand for motorbikes. The surge in sports bike users the launch of an advanced version of motorbikes are expected to accelerate the market demand in the forecast period. Technological advancements in the manufacturing process, designing motorbikes, and the growing integration of safety features and advanced driver assistance systems to provide a comfortable and safe driving experience to consumers influence market demand. Several manufacturers are investing in manufacturing bikes that run on environment-friendly technology such as solar energy, and electricity is expected to pave the way for market growth.

Major players operating in Vietnam two wheeler market are:

  • Pega
  • VinFast
  • Truong Hai Auto Corporation (THACO)
  • Honda
  • Yamaha
  • Suzuki
  • Piaggio
  • SYM

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“The flourishing e-commerce industry and last-mile delivery services support the demand for the two-wheeler market in the country as they offer quick doorstep delivery to consumers. Stringent emission norms and regulations to lower greenhouse gas emissions boost the introduction of electric two wheelers in the Vietnamese market. The rise in use of motorcycles as a more convenient mode of transportation than using public transport for daily commuting purposes, rapid urbanization, and wide usage in business avenues are expected to propel the Vietnam two wheeler market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Vietnam Two Wheeler Market By Propulsion Type (ICE, Electric), By Vehicle Type (Scooter/Moped, Motorcycle), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Vietnam two wheeler 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 Vietnam two wheeler market.


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Vietnam Two Wheeler Market By Propulsion Type (ICE, Electric), By Vehicle Type (Scooter/Moped, Motorcycle), By Region, Competition Forecast & Opportunities, 2027

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Entry of foreign market players and rise in trend of customization are driving the growth of Vietnam two wheeler market in the forecast period, 2023-2027.

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