Global Two-wheeler Market is expected to generate new demand as the sales of electric two-wheeler is increasing rapidly
The rise in the demand of the electric vehicles and the
carbon emission targets is increasing the demand of the green tires in the
global market.
According
to TechSci Research report, “Two-wheeler Market -
Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast,
2018-2028” Global Two-wheeler Market is growing because the
two-wheeler industry is anticipated to expand at an impressive CAGR because of
rising two-wheeler penetration in the global market and rising two-wheeler use
for local commuting and rapid deliveries. The efficacy of the pricing is
another element affecting market expansion. Due to the growing population in
developing countries and the lack of parking spaces, motorcycles and mopeds
have emerged as a practical alternative to cars. Similarly, rising gasoline costs are encouraging
people to switch to electric two-wheelers due to their cost-effectiveness and
tightening emission regulations across the globe.
Asia Pacific dominates the two-wheelers market
globally (with India and China accounting for most of the share). Concerns over
COVID-19 contamination on public transportation, clogged roads, and the
development of one-person homes in Asia have all contributed to a spike in
demand for smaller displacement motorbikes and mopeds during the past two
years. New laws are also required as these cars become more prevalent. For
instance, Hanoi, the capital city of Vietnam, plans to outlaw motorbikes in all
its central districts after 2025 to reduce emissions (Vietnam is the
fourth-largest market in Asia in terms of volume sales). These elements will
have an impact on market expansion. These emission curbs are increasing the
demand of electric two wheelers globally. Therefore, increase in the adoption
of electric two wheelers-globally, especially in the emerging countries market
is expected to drive the global two-wheeler market. To serve a larger urban
client base, Honda, a top producer of motorcycles and scooters, is committed to
growing its product selection and electrification lineup. Honda's biggest
market is India. Honda's largest production base, with a capacity of 6.4
million units, is also in India. Moreover, the corporation can produce 5.8
million units in Indonesia. Indonesia is one of Honda's biggest scooter markets
as a result. To grow the business and maintain the current growth rate, the
firm intends to release several e-2W models over the next three years. Also, it
has plans to enter the 250 CC and above motorbike sector, which is seeing rapid
expansion. Overall, the market is undergoing transformation and during the
forecast period, the market will grow as the demand is surging globally.
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The Global Two-wheeler
Market can be segmented based on vehicle type, by engine capacity, type, region,
and by company. Based on vehicle type, the market is further bifurcated into scooter/moped
and motorcycle. Based on capacity, the market is segmented into Up to 125cc,
126-250cc, 250-500cc, above 500cc
and electric. Based on end use, the market is further segmented into individual
and institutional. Based on region, the market is further segmented into North
America, Asia Pacific, Europe & CIS, South America, and Middle East &
Africa.
Some of the major companies operating in the Global
Two-wheeler
Market include:
- Hero MotoCorp Ltd.,
- Bajaj Auto Ltd.
- Yamaha Motor Co., Ltd.
- Piaggio & C. S.p.A.
- TVS Motor Company Limited.
- Harley Davidson.
- Suzuki Motor Corporation
- Kawasaki Heavy Industries, Ltd.
- Honda Motor Co., Ltd.
- BMW Motorrad.
These are the key players manufacturing
and launching new products to stay competitive in the market. To increase the customer
outreach, the companies are investing in the research and development
activities to stay competitive in the market. These companies are also focusing
on meeting the regulations of different regional governments to stay
competitive in the global market as many new startups are also launching
two-wheelers and providing competition to the established players in the market.
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“The
leading region in the global two-wheeler market is Asia Pacific, which is
followed by Europe and North America in terms of market share. During the
forecast period, these regions are expected to increase their market
penetration because regional companies are improving their manufacturing
capabilities and expanding their product lines. Moreover, the increase in the
sales of electric two-wheelers will create new opportunities for the global two-wheeler market,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Two-wheeler Market - Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2018-2028” has
evaluated the future growth potential of Global 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 the Global Two-wheeler Market.
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