IMARC Group has recently released a new research study titled “Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global two-wheeler market size reached US$ 121.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 181.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.00% during 2023-2028.This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in aany form.
Two-Wheeler Industry Definition and Application:
Two-wheelers are motor-powered vehicles with two wheels that comprise motorcycles, mopeds, scooters, and gyrocars installed with brakes, engine, tires, clutch and gear, accelerator, exhaust pipe, fuel tank, and head and tail lamp. They increase the savings of the riders by lowering the cost of parking, toll fees, and road taxes. They also offer more mileage and consume a lesser amount of fuel compared to cars. Two-wheelers enable riders to avoid traffic congestion and travel smoothly through narrow lanes and tight alleys.
They also allow individuals to commute safely and comfortably by avoiding the crowd experienced while traveling in public transportation, such as buses, local trains, shared autos, and metros. They assist in traveling short distances while occupying minimum space for parking due to their compact shape. As they are easy to maintain due to affordable insurance premiums for safeguarding the rider against expenses arising from accidents, the demand for two-wheelers is rising across the globe.
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Two-Wheeler Market Trends and Drivers:
Presently, the increasing demand for two-wheelers due to rising expenses on availing personal vehicles represents one of the primary factors influencing the market positively. Besides this, the growing utilization of motorbikes and scooters by bike and taxi service-providing startups is offering a favorable market outlook. In addition, the rising adoption of two-wheelers by logistics companies around the world to deliver packages quickly is strengthening the growth of the market. Apart from this, the increasing integration of electric-powered motors in motorbikes and scooters to eliminate fuel dependency, reduce the emission of automobile exhausts, and increase efficiency is propelling the growth of the market. Additionally, governing agencies of various countries are encouraging the use of eco-friendly motorbikes and scooters to lower the levels of air pollution.
They are also undertaking initiatives to install electric vehicle (EV) charging stations across various public places, which is supporting the growth of the market. Moreover, the rising integration of efficient braking and advanced rider assistance systems (ARAS) in two-wheelers to recognize a vehicle approaching in a blind spot or an imminent frontal collision and automatically adjust the speed is contributing to the growth of the market. Furthermore, key players operating in the industry are developing two-wheelers with permanent magnet motors to provide strong acceleration and enhanced torque capabilities. They are also manufacturing helmets integrated with hands-free and Bluetooth options to connect with other riders, answer phone calls, and navigate roads, which is bolstering the growth of the market.
Two-Wheeler Market 2023-2028 Analysis and Segmentation:
The report has segmented the market into the following categories:
Type Insights
- Scooters
- Mopeds
- Motorcycle
- Electric Two-Wheeler
Technology Insights
- ICE
- Electric
Transmission Insights
- Manual
- Automatic
Engine Capacity Insights
- 1600cc
Fuel Type Insights
- Gasoline
- Petrol
- Diesel
- LPG/CNG
- Battery
End-User Insights
- Personal
- Commercial
Distribution Channel Insights
- Offline Channels
- Online Channels
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Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
List of Major Key Players:
- Harley Davidson
- Hero MotoCorp Ltd.
- Honda Motor Co., Ltd.
- Suzuki Motor Corporation
- Yamaha Motor Co., Ltd.
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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