Mopeds to Continue Dominating CIS Counties Two-Wheeler Market through 2023
Owing to growing traffic
congestion along with higher fuel efficiency than other vehicle types, demand
for two-wheelers is set to grow at a brisk pace across CIS countries through
2023
According to TechSci Research report, “CIS
Two Wheeler Market By Vehicle Type, By Engine Capacity, By Country,
Competition Forecast & Opportunities 2013 - 2023”, CIS two-wheeler market is projected to cross $ 180 million by 2023, backed
by rising per capita income and high manoeuvrability and lower carbon emissions
offered by two wheelers. Moreover, increasing tourism is translating into higher
demand for two-wheelers as they are commonly used by tourists for travelling purposes.
Though, the demand for two-wheelers in CIS countries witnessed a negative CAGR
during 2013-17 due to economic recession, two-wheeler sales are forecast to
increase in the coming years on account of improving economic scenario. Consequently,
CIS two-wheeler market is anticipated to recover during the forecast period and
witness a CAGR of over 8% during the forecast period.
Browse 68 market data Figures
and 8 Tables spread through 124 Pages and an in-depth TOC on "CIS Two-Wheeler Market"
https://www.techsciresearch.com/report/cis-countries-two-wheeler-market/3056.html
In 2017, the mopeds segment dominated the CIS two-wheeler market,
followed by the motorcycle segment. Growing demand from mobility service
providers, public transportation and increasing inclination of consumers
towards small and easy manoeuvrable automobiles is offering stimuli to the
two-wheeler industry across the region. However, motorcycle segment is likely
to grow at the fastest CAGR during the forecast period. Major automotive giants
such as BMW, Bajaj, Honda, Suzuki, etc., are constantly expanding their product
offerings to attract customers. On the other hand, many Chinese two-wheeler manufacturers
have also intensified their business operations in the region by increasing
their investments in research and development. Several CIS based companies are
also investing intensively in order to provide their customers with more affordable
as well as premium two-wheelers.
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“Growing presence of various multinational companies such as Honda,
Suzuki, Yamaha, Bajaj, BMW, coupled with their continued research and
developments to manufacture premium two-wheelers as well as to offer a wide product
range is expected to intensify competition in CIS two-wheeler market in the
coming years. Moreover, rising selling price of two-wheelers and growing volume
sales of two-wheelers is expected to boost revenue of CIS two-wheeler companies
during the forecast period.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based CIS management consulting firm.
“CIS Two Wheeler Market
By Vehicle Type, By Engine Capacity, By Country, Competition Forecast &
Opportunities 2013 - 2023”
has analyzed the potential of CIS
two-wheeler market, and provides statistics and information on market
sizes, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by the CIS two-wheeler
market.
About TechSci Research
TechSci Research is a leading
CIS market research firm publishing premium market research reports. Serving
700 CIS clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking CIS and country specific high growth
markets helps TechSci clients to lead rather than follow market trends.
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