Two Wheeler Market Set for Rapid Growth at 8.0% CAGR: MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Two Wheeler Market, The Global Two Wheeler Market is projected to grow at a CAGR of around 8.0% during the forecast period, i.e., 2023-28. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Two Wheeler Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2023-2028
CAGR (2023-2028): 8.0%

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Global Two Wheeler Market Segmentation Breakdown:

The Two Wheeler Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Type of Fuel
- Gasoline
- Petrol
- Diesel
- LPG/CNG
- Battery

Among its peers, Motorcycles acquired the largest share and are anticipated to grow drastically in the forecasted time frame.

By Vehicle Type
- Moped
- Scooter
- Motorcycle
By 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.

By Type of Engine Capacity
- Up to 125 cc
- 126 to 250 cc
- 251 to 500 cc
- Above 500 cc

Geographical Growth Insights:

By Region
- 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.

MarkNtel Advisors Highlights Key Market Drivers for Two Wheeler Market:

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.

A Comprehensive Analysis of Leading Companies in Global Two Wheeler Market

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.

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What are the growth Opportunity driving the Global Two Wheeler Market?

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.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

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