Market Research Report

Global Two Wheeler Market Research Report: Forecast (2023-2028)

By Type of Fuel (Gasoline, Petrol, Diesel, LPG/CNG, Battery), By Vehicle Type (Moped, Scooter, Motorcycle), By Application (Personal Use, Commercial Use), By Type of Engine Capacit...y (Up to 125 cc, 126 to 250 cc, 251 to 500 cc, Above 500 cc), By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific), By Company, (Hero Moto Corp., Yamaha Motor Co., Ltd., Harley Davidson, TVS Motors, BMW Motorrad, Piaggio & C.S. p.A, Bajaj Auto Ltd., Kawasaki Heavy Industries, Ltd, Suzuki Motor Corporation, Honda Motor Co., Ltd.) Read more

  • Automotive
  • Feb 2023
  • 202
  • AT66005

Market Definition

Two-wheeler is a common term for motorbikes, bikes, mopeds, and scooters used to commute short distances. Such vehicles usually made with metal and fiber frames, comprise an internal mechanism engine or an electric motor that converts the acceleration motion of the pistons into continuous motion transmitting to the back wheel and propelling the vehicle forward.

Market Insights & Analysis: Global Two-wheeler Market (2023-28)

The Global Two-wheeler Market is projected to grow at a CAGR of around 8.0% during the forecast period, i.e., 2023-28. With comprehensive past adoption in racing, cruising, and sports-related activities, two wheeler vehicles, especially motorcycles that either run with the ignition of conventional gasoline or are powered by electricity, have found grounds over the years. Although the manufacturing of two-wheelers took a downturn with subsequent lockdowns and curfew situations due to the covid-19 pandemic, the demand side witnessed a swift surge. Moreover, customers displayed an increasing interest in such vehicles citing contamination risk while traveling through public transportation. Given this, most economies registered an inflated increase in two wheelers sales. For instance, North America and Europe recorded motorcycle and moped sales growth.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 8.0%
Regions Covered North America: The US, Canada, Mexico
Europe: Germany, The UK, France, Russia, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Egypt, Rest of MEA
Key Companies Profiled Hero Moto Corp., Yamaha Motor Co., Ltd., Harley Davidson, TVS Motors, BMW Motorrad, Piaggio & C.S. p.A, Bajaj Auto Ltd., Kawasaki Heavy Industries, Ltd, Suzuki Motor Corporation, Honda Motor Co., Ltd.
Unit Denominations USD Million/Billion

 

Moreover, the increasing demand for electric two wheelers aided by government subsidies, tax benefits, and rising climate-related concerns has furthered the market recovery and is likely to gain momentum in the coming years. Along similar lines, the Indian government initiated a responsible policy for promoting E-vehicles called the FAME (Faster Adoption and Manufacturing of Electric vehicles). 

Furthermore, the fact that these vehicles are comfortably utilized for short-range travel & low-noise operations may positively influence the Two-wheeler Market growth in the upcoming years. Besides, the creation of anti-lock braking systems (ABS), produced with cutting-edge features that provide comfort, elegance, and safety, are extensively well-known among end-users & boosts sales. It is also produced with cutting-edge features that offer comfort, elegance, and safety. Hence, the aforementioned factors for the increasing demand for personal transportation supported by government policies, increasing disposable income, and growing population are anticipated to enhance the Global Two-wheeler Market size in the near years.


Global Two Wheeler Market Research Report: Forecast (2023-2028)

Market Dynamics

Key Driver: The Rapid Urbanization Prompting the Need for Compact Commuting Solutions

According to the United Nations (UN) Department of Economics and Social Affairs, it is predicted that 68% of the world population is expected to live in urban areas by 2050. As a result, the rising road congestion, insufficient mobility infrastructures, and lack of parking spaces necessitate the demand for compact commuting solutions in developed and developing economies, improving market growth.

Besides, standard bikes are witnessing accelerating demand over traditional motorcycles due to the low initial price driven by the developing economic strength of the urban middle-class population. Furthermore, the sudden surge in gasoline prices makes the urban and rural populace prefer mopeds, motorcycles, and standard bikes from four-wheelers. Other than this, the minimal maintenance required by such vehicles provides the necessary impetus required for further market expansion.

Possible Restraint: High Safety Measures and Convenience in Four-Wheelers Outpacing Two Wheelers

The populace’s preference for adapting four-wheelers such as sedans, SUVs, and other cars from mopeds and motorcycles is intensifying as they provide more comfort, safety, and convenience. Four-wheelers are produced with various safety mechanisms such as airbags, seat belts, and other safety equipment, which alarm and ensure driver’s and passenger’s protection. On the contrary, motorcycles and mopeds have low protective features and minimal inbuilt safety mechanisms for riders. Therefore, rising demand for safety measures is anticipated to restrain the market during the forecast period.

Growth Opportunity: First- to Last-Mile Connectivity and Ride-Hailing Facilities

The elevating demand for cost-benefit and instant commuting choices with last-mile connectivity is majorly driving the global two wheeler market. First- and last-mile connectivity and ride-hailing facilities are gaining traction globally because of the utility of two wheelers in commuting short distances as they are fuel-efficient. Besides, the market is witnessing a boost with the emergence of two wheeler taxis. Companies such as Ola, Uber, Didi, and Grab are some of the vehicle fleets providing ride-hailing facilities such as Ola bikes and Uber moto. Therefore, these factors are expected to drive the market and considered possible growth opportunities.

 Key Trend: The E-Mobility Adoption aided by Government Initiatives Promoting Electric Two Wheelers

The increasing public concern for environmental safety has encouraged the adoption of e-vehicles more than ever. As a result, the government worldwide is constantly coming up with several initiatives to combat increasing pollution levels by promoting e-mobility solutions. Further, the adoption of electric vehicles aided by the government’s favorable policies propels the electric two wheelers demand resulting in inflated market growth. Moreover, with convenient and instant delivery services, the 2W is gaining adoption with expanding e-commerce industry.

Market Segmentation

Based on Type,

  • Motorcycle
  • Moped
  • Scooter

Among its peers, Motorcycles acquired the largest share and are anticipated to grow drastically in the forecasted time frame. It is due to the introduction of electric vehicles offering features such as greater acceleration, high torque, and prolonged range per single charge. Furthermore, the promotion of e-vehicles by government initiatives due to public concern about emissions, and pollution are fueled by incentives and subsidies. Hence, electric two wheelers are expected to outsmart conventional motorbikes in several ways like non-polluted, silent operation, and low noise, thereby inflating the market growth.

Based on the Application,

  • Personal use
  • Commercial use

Among these two, Personal use accounted for the largest market share in the historical period as individuals are showing more appetite for two wheelers over its commercial adoption. This is because of the affordability and convenience offered by the transport system. It also progresses in increasing mileage and fuel costs, is race-worthy, rides well on properly constructed roads, and creates a good riding environment on and off roads. It also is produced with maximum fuel efficiency, minimal maintenance cost, reasonable speed, and acceleration have exceptionally generated a market revenue. Hence, the market is inflated by the personal use of two wheelers with the mentioned factors above.

Regional Projection

Geographically, the Global Two-wheeler Market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Asia-Pacific is expected to dominate the two wheeler market, with a prominent share acquired by India and China during the projected period. Due to the issues with COVID-19 infection on public transportation, traffic congestion, and the rise in single-person households in Asia, low-movement motorbikes and mopeds have seen a tremendous surge in demand over the past few years.

Consequently, it paved the way for legislative formulations to curb emissions. For instance, the Chinese government is rigorously working to minimize vehicular pollution by implementing limitations on gasoline-powered vehicles. Hence, these are crucial factors leading to the adoption of electric motorbikes, which is predicted to drive the market tremendously in the anticipated period.

Similarly, it is projected that the two-wheeler market will expand significantly in Europe. Five of the largest European markets, including the UK, Spain, France, Italy, and Germany, have more two wheeler listings than the previous years. Along similar lines, North America is anticipated to exhibit a healthy growth rate. Consumer preference is for more highway cruisers in the more developed markets of the US and Canada.

Regulatory Landscape in the Global Two Wheeler Market

  • In the adoption of eco-friendly transportation Governments in India, China, and the United States have subsidized the purchase of e-vehicles which are expected by the electric two wheeler industry to enlarge in boosting the total growth of the market. 
  • The demand for two-wheelers is constrained from being fulfilled due to a lack of supply. Hence, Government incentives becoming a prime factor for electric two wheelers, emphasizing the fact that Ola sold electric scooters worth USD1,100 crores in just two days, in 2021.

Recent Developments in the Global Two-Wheeler Market

  • In February 2022: Hero Moto Corp. and Bharat Petroleum Corporation Limited (BPCL) declared a tie-up to enhance and improve charging mechanisms for electric mopeds and motorcycles across India.
  • In April 2022: Yamaha launched a newly improved prototype of the EPS (Electric Power Steering) support system for motorcycles aids to enhance motorcycle capability and agility.

Gain a Competitive Edge with Our Global Two-wheeler Market Report

  1. Global Two-wheeler Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. Global Two-wheeler Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Two Wheeler Market is projected to grow at a CAGR of around 8.0% during the forecast period.

   A. The rapid urbanization prompting the need for compact commuting solutions is expected to drive the Two wheeler market during 2023-28.

   A. Hero Moto Corp., Yamaha Motor Co., Ltd., Harley Davidson, TVS Motors, BMW Motorrad, Piaggio & C.S. p.A, Bajaj Auto Ltd., Kawasaki Heavy Industries, Ltd, Suzuki Motor Corporation, Honda Motor Co., Ltd. are the top players in the Two Wheeler Market.

   A. Motor cycle is the leading type in the two wheeler market.

   A. Asia-Pacific is expected to dominate the two wheeler market in the two wheeler market during 2023-28.

   A. The adoption of e-mobility aided by government initiatives is the key trend shaping the growth of the two wheeler market.

   A. First- to last-mile connectivity and ride-hailing facilities are the growth opportunities driving the two wheeler market through 2028.

   A. High safety measures and convenience in four-wheelers than two wheelers are the possible restraints affecting the growth of the two wheeler market.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Two Wheeler Market Trends & Developments
  5. Global Two Wheeler Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. Global Two Wheeler Market Hotspots & Opportunities
  7. Global Two Wheeler Market Regulations & Policy
  8. Global Two Wheeler Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Fuel
        1. Gasoline
        2. Petrol
        3. Diesel
        4. LPG/CNG
        5. Battery
      2. By Vehicle Type
        1. Moped
        2. Scooter
        3. Motorcycle
      3. By Application
        1. Personal Use
        2. Commercial Use
      4. By Type of Engine Capacity
        1. Up to 125 cc
        2. 126 to 250 cc
        3. 251 to 500 cc
        4. Above 500 cc
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      6. By Company
        1. Competition Characteristics
        2. Revenue Shares
  9. North America Two Wheeler Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Fuel
      2. By Vehicle Type
      3. By Application
      4. By Type of Engine Capacity
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The United States Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    4. Canada Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    5. Mexico Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
  10. South America Two Wheeler Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Fuel
      2. By Vehicle Type
      3. By Application
      4. By Type of Engine Capacity
      5. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    4. Argentina Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
  11. Europe Two Wheeler Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Fuel
      2. By Vehicle Type
      3. By Application
      4. By Type of Engine Capacity
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. Germany Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    4. The UK Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    5. France Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    6. Italy Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    7. Spain Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
  12. Middle East & Africa Two Wheeler Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Fuel
      2. By Vehicle Type
      3. By Application
      4. By Type of Engine Capacity
      5. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Egypt
        5. Rest of MEA
    3. The UAE Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    4. Saudi Arabia Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    5. South Africa Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    6. Egypt Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
  13. Asia-Pacific Two Wheeler Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Fuel
      2. By Vehicle Type
      3. By Application
      4. By Type of Engine Capacity
      5. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Australia
        6. Rest of Asia-Pacific
    3. China Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    4. India Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    5. Japan Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    6. South Korea Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
    7. Australia Two Wheeler Market Outlook, 2018-2028F
      1. Market Size & Analysis                
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Type of Fuel
        2. By Vehicle Type
        3. By Application
  14. Global Two Wheeler Market Key Strategic Imperatives for Success & Growth
  15. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Research & Development
      4. Strategic Alliances
      5. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Hero Moto Corp.
      2. Yamaha Motor Co., Ltd.
      3. Harley Davidson
      4. TVS Motors
      5. BMW Motorrad
      6. Piaggio & C.S. p.A
      7. Bajaj Auto Ltd.
      8. Kawasaki Heavy Industries, Ltd
      9. Suzuki Motor Corporation
      10. Honda Motor Co., Ltd.
  16. Disclaimer


Two Wheeler Market Segmentation