Pune, India, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The global Two-Wheeler Market was USD 110.82 billion in 2021. The global market size is expected to be USD 121.49 billion in 2022 and is projected to reach USD 217.94 billion by 2029, exhibiting a CAGR of 8.7% during the forecast period from 2021-2029. This information is provided by Fortune Business Insights, in its report, titled, “Two-Wheeler Market, 2021-2029.”
According to our analysts, rapid urbanization and increasing traffic jams to augur growth of market. Triumph Enters into a Partnership with Williams Advanced Engineering, Integral Powertrain Limited, and Warwick Manufacturing Group to Thrive Progress.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/two-wheeler-market-106884
Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 8.7% |
| 2029 Value Projection | 217.94 billion |
| Base Year | 2021 |
| Market Size in 2022 | 121.49 billion |
| Historical Data for | 2018 - 2020 |
| No. of Pages | 181 |
| Segments covered | By Type, By Technology |
| Growth Drivers | Prompt Urbanization Pooled with Traffic Jamming to Fuel Market Growth |
| Asia Pacific to Dominate Backed by Ban of Public Vehicles during COVID-19 |
COVID-19 Impacts:
COVID-19 Resulted in Short-Term Deterioration in Sales Affected Market Growth
The influence of COVID-19 was classified across various regions, with some regions observing a drop in two wheeler sales, although a few economies recorded an increase in vehicle sales in 2020. For example, North America and Europe witnessed a growth in motorcycle and moped sales, whereas Asia Pacific witnessed declining sales in 2020.
Drivers and Restraints:
Prompt Urbanization Pooled with Traffic Jamming to Fuel Market Growth
The population in urban areas is rising speedily. As per the United Nations Conference on Trade and Development (UNCTAD) Handbook of Statistics, worldwide city population percentage increased from 51.6% in 2010 to 56.2% in 2020. The share of the urban population has augmented quickly in the prior decade. It is normally greater in established countries (around 79.2% in 2020) than in emerging nations (approximately 51.6% in 2020).
Industry Developments:
May 2022: Triumph declared that the company concluded the final testing of its novel electric bike TE 1. The model was developed in partnership with Williams Advanced Engineering, Integral Powertrain Limited as well as Warwick Manufacturing Group.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/two-wheeler-market-106884
List of Key Players Mentioned in the Report:
- Honda Motor Co. Ltd. (Japan)
- Yamaha Motors Co. (Japan)
- Hero Moto Corp. (India)
- Suzuki Motor Corporation (Japan)
- BMW Motorrad International (Germany)
- Bajaj Auto (India)
- Energica Motor Company Inc. (Italy)
- Kawasaki (Taiwan)
- Piaggio & C. SpA (Italy)
- Triumph Motorcycles Ltd. (U.K.)
- Royal Enfield (India)
Segments:
Motorcycle Segment Held Largest Market Share Backed by Extensive Variety Obtainable in Diverse Regions
Based on type, the market is segmented into motorcycle and moped. The motorcycle segment held the largest market share in 2021. The key worldwide producers, such as India, Indonesia, and China, produce entry-level motorcycles, which are smaller, while the U.S. manufacturers produce huge (600+ cc engine capacity) costlier motorcycles for recreation.
ICE Segment Led Market Owing to Enhanced Performance
Based on technology, the market is segmented into ICE and electric.
The ICE segment led the market in 2021. Regular price hikes over the past two years have hindered two wheeler (2W) sales recovery.
Geographically, the market is segregated into North America, Europe, Asia Pacific, and the rest of the world.
Quick Buy - Two-Wheeler Market Size Research Report: https://www.fortunebusinessinsights.com/checkout-page/106884
Key Benefits for Two-Wheeler Market:
- The Two-Wheeler market analysis covers in-depth information of major industry participants.
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides an in-depth analysis of the Two-Wheeler market during the forecast period (2022–2029).
- The report outlines the current market trends and future scenario of the global Two-Wheeler market to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analysis is elucidated in the study.
Regional Insights:
Asia Pacific to Dominate Backed by Ban of Public Vehicles during COVID-19
Asia Pacific led the two wheeler market share, with India and China responsible for the majority of the share, standing at USD 80.12 billion in 2021. The problems regarding COVID-19 infection on mass transit, traffic overcrowding, and the increase of single-person households in Asia have resulted in huge demand for low movement mopeds and motorcycles in the past two years.
Europe is anticipated to demonstrate considerable two wheeler market growth. Two wheeler listings are available in five of the biggest European markets (the U.K., Spain, France, Italy, and Germany) augmented by 7.8% in comparison with 2020.
North America is estimated to display a reasonable growth rate during the forecast period. In the more mature markets of the U.S. and Canada, consumer inclination is toward greater highway cruisers. Motorcycle sales have been majorly stationary over the last decade.
Competitive Landscape:
Partnerships among Companies to Secure their Brand Values in Global Market
Prominent players in the market are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering with other companies to extend their reach to end-users.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/two-wheeler-market-106884
Global Two-Wheeler Market Size Segmentation:
By Type:
- Motorcycle
- Moped
By Technology:
- ICE
- Electric
Table of Contents
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Key Industry Developments-Merger, Acquisition, and Partnerships
4.2 Porter’s Five Forces Analysis
4.3 PEST Analysis
4.4 Technological Developments
4.5 List of Two Wheeler Component Manufacturers
4.6 Impact of COVID-19
5. Global Two Wheeler Market Analysis, Insights and Forecast, 2018-2029
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1 Motorcycle
5.2.2 Moped
5.3. Market Analysis, Insights and Forecast – By Technology
5.3.1 ICE
5.3.2 Electric
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Rest of the World
6. North America Two Wheeler Market Analysis, Insights and Forecast, 2018-2029
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Type
6.2.1 Motorcycle
6.2.2 Moped
6.3. Market Analysis, Insights and Forecast – By Technology
6.3.1 ICE
6.3.2 Electric
6.4. Market Analysis, Insights and Forecast – By Country
Continued…
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/two-wheeler-market-106884
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
