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

  • Industry : Automotive
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  • Published Date : NA
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Summary

Report Description

Vietnam two wheeler market is expected to grow at a rate of double-digit CAGR in the forecast period, 2023-2027. The growing market of environment-friendly e-motorbikes, increasing investments by foreign market players, and rise in domestic market players are the primary factors driving the growth of Vietnam two wheeler market in the forecast period.

Vietnam is considered the center of the motorcycle industry in Asia and is dominated by Japanese manufacturers creating a massive hub for domestic and export of two-wheeler automobile parts. Foreign investors prefer to use Vietnam as an export base throughout the Asian region. Vietnam's two-wheeler industry is considered among the five leading producers of two-wheelers across the globe. Two-wheeler vehicles offer riders a more cost-effective transportation solution than four-wheeler vehicles and can easily navigate through dense traffic.

High demand for e-bikes supports market growth

The emission released by motorcycles has worsened the air quality and accelerated climate change has raised environmental concerns among consumers. Change in consumer preference to shift from fuel-powered two-wheelers to electric two-wheeler vehicles to lower the adverse impact on the environment is fueling the adoption of electric vehicles among consumers. Market players are making significant investments in research and development activities to find innovative solutions and increase the battery capacity of two-wheeler automobiles to boost the convenience and comfort of consumers while driving the automobile. The launch of advanced electric two-wheeler vehicles in varying colors, battery capacity, and mileage is expected to attract many customers to purchase two-wheeler vehicles in the forecast period. According to Vietnamese law, electric bikes do not require a driver's license or registration and are highly preferred by students and the young generation. Strong economic growth of the country enables the consumers to spend on quality lifestyle, which is one of the major factors driving the sales of electric two-wheelers in the country.

Advancements in Technology Boosts Market Growth

Two-wheeler manufacturers are focusing on improving mileage and integrating attractive features in two wheelers like unique horns, Bluetooth connectivity, bucket seats, and air-cooled engines to capture the largest market share and boost sales. Adopting cutting-edge technology to make the installed system more complex and advanced in two-wheeler vehicles and improve the vehicle's comfort, luxury, and safety for riders is expected to accelerate the market demand in the forecast period. Manufacturers are introducing hands-free and Bluetooth options in helmets to enhance the connectivity with riders and answer and navigate easily by using smartphones while driving.

High Penetration of Ride-Hailing Services Drives the Market Demand

With growing internet penetration and the proliferation of smart devices, consumers prefer ride-sharing and hailing services through online platforms to ride distances. Motorbikes are considered as one of the most popular modes of transportation owing to their availability at a much lower price than availing the services of four-wheeler vehicles. Motorbike taxies are in high demand, also popularly known as “xe om” in the country. The entry of local and multinational market players into the app-based motorbike services and the adoption of attractive marketing strategies to stay ahead are expected to impact the market demand positively.


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Market Segmentation

The Vietnam two wheeler market is divided into propulsion, vehicle type, company, and regional distribution. Based on propulsion, the Vietnam two wheeler market is divided into ICE and electric. Based on vehicle type, the Vietnam two wheeler market is divided into scooter/moped and motorcycle. The Vietnam two wheeler market is also studied by dividing Vietnam into regions namely north, south, and central.

Market Players

Pega, VinFast, Truong Hai Auto Corporation (THACO), Honda, Yamaha, Suzuki, Piaggio, SYM are among the major market players in the Vietnam region that led the market growth of the Vietnam two wheeler market.

Attribute

Details

Base Year

2021

Historic Data

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027

Report coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         Propulsion

·         Vehicle Type

Region scope

North Vietnam, South Vietnam, Central Vietnam

Key companies profiled

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

Customization scope

10% free report customization with purchase. Addition or alteration to regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Vietnam two wheeler market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Vietnam Two Wheeler Market, By Propulsion:
    • ICE
    • Electric
  • Vietnam Two Wheeler Market, By Vehicle Type:
    • Scooter/Moped
    • Motorcycle
  • Vietnam Two Wheeler Market, By Region:
    • North Vietnam
    • South Vietnam
    • Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam two wheeler market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Vietnam two wheeler market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Vietnam Two Wheeler Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Factors Influencing Purchase Decision

5.2.  Influencer of Purchase

5.3.  Unaided/Aided Brand Recall

5.4.  Brand Satisfaction

5.5.  Challenges/Unmet Needs

6.    Vietnam Two Wheeler Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Propulsion Type (ICE, Electric)

6.2.2.     By Vehicle Type (Scooter/Moped, Motorcycle)

6.2.3.     By Region

6.3.  Market Map (By Propulsion Type, By Vehicle Type, By Region)

7.    Vietnam ICE Two Wheeler Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type (Scooter/Moped, Motorcycle)

7.2.2.     By Engine Capacity (Up to 125 cc, 126-250 cc, 251-500 cc, Above 500 cc)

7.2.3.     By Company

7.2.4.     By Region

7.3.  Market Map (By Vehicle Type, By Engine Capacity, By Region)

8.    Vietnam ICE Motorcycle Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Engine Capacity (Up to 125 cc, 126-250 cc, 251-500 cc, Above 500 cc)

8.2.2.     By Company

8.3.  Product Benchmarking of Prominent Models

9.    Vietnam ICE Scooter/Moped Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Engine Capacity (Up to 125 cc, 126-250 cc, 251-500 cc, Above 500 cc)

9.2.2.     By Company

9.3.  Product Benchmarking of Prominent Models

10.  Vietnam Electric Two Wheeler Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Vehicle Type (Motorcycle, Scooter/Moped)

10.2.2.  By Battery Capacity (>25Ah, <25Ah)

10.2.3.  By Battery Type (Lead-Acid, Lithium Ion)

10.2.4.  By Company

10.3.              Product Benchmarking of Prominent Models

11.  Prominent Dealers & Distributors

12.  Import-Export Analysis

13.  Supply Chain Analysis

14.  Market Dynamics

14.1.              Drivers

14.2.              Challenges

15.  Market Trends & Developments

16.  Vietnam Economic Profile

17.  Competitive Landscape

17.1.              Pega

17.2.              VinFast

17.3.              Truong Hai Auto Corporation (THACO)

17.4.              Honda

17.5.              Yamaha

17.6.              Suzuki

17.7.              Piaggio

17.8.              SYM

18. Strategic Recommendations

Figures and Tables

Frequently asked questions

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Favorable government policies, introduction of electric two wheelers and growing affordability and investments in research and development activities are driving the demand for Vietnam two wheeler market in the forecast period.

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Based on the propulsion type, the market is divided into ICE and electric. The ICE propulsion is expected to hold the largest market share in the forecast period as large number of vehicles running on on-road are using ICE engine

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Pega, VinFast, Truong Hai Auto Corporation (THACO), Honda, Yamaha, Suzuki, Piaggio, and SYM are the major market players operating in the Vietnam two wheeler market.

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Growing demand for four-wheelers and inability for two-wheelers to accommodate urban infrastructure may hinder the market growth in the forecast period.

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Srishti Verma

Business Consultant
Press Release

Vietnam Two Wheeler Market to be dominated by Motorcycles through 2027

Jan, 2022

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.

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