Saudi Arabia Two-Wheeler Market to Grow at a CAGR of 8.97% through 2027
The increasing demand from e-commerce delivery services and
growing popularity of two-wheeler sporting activities to drive the Saudi Arabia
two wheeler market in the forecast period.
According
to TechSci Research report, “Saudi Arabia Two Wheeler Market- By Region, Competition,
Forecast and Opportunities, 2017-2027”,
the Saudi Arabia two wheeler market stood at USD44.52 million in 2021 and is
expected to grow at a steady CAGR of 8.97% to reach a value of USD73.63 million
by 2027. The government of Saudi Arabia is promoting the automotive industry by
releasing supportive initiatives and policies. International companies are
partnering up with local importing companies to expand their dealer and
distributor networks in tier 2 and tier 3 cities. Also, the high demand for
premium motorcycles among the youth population is expected to impact sales of
two wheelers significantly. The young population prefers to invest in big bikes
with great specifications to travel to the office, college, and on adventurous
trips. The income of the middle-class population is growing rapidly, and the
growing demand for leisure and recreational activities among the youth
population is expected to boost the sales of premium bikes.
However,
the market is majorly import dependent, and the high demand for four-wheeler
vehicles among consumers may restrain Saudi Arabia two-wheeler market growth
for the next five years.
Browse over 22 market data Figures spread through 88
Pages and an in-depth TOC on "Saudi Arabia Two-Wheeler Market"
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The Saudi Arabia two-wheeler market is
segmented on the basis of vehicle type, engine capacity,
type of sales, regional distribution, and competitive landscape.
Based on vehicle type, the market is
bifurcated into motorcycle and scooter/moped. The motorcycle segment dominated
the market in 2021 and accounted for a market share of 98.00%. The design of
motorcycles makes them suitable for different purposes such as long-distance
travel, commuting, racing, and off-road activities. Manufacturers are focusing
on research and development activities to find innovative solutions to upgrade
the existing version of motorcycles. Improvement in fuel efficiency and mileage
and integration of Bluetooth speakers, air-cooled engines, and other advanced
technology in motorcycles are expected to create lucrative growth opportunities
for Saudi Arabia two-wheeler market over the next five years. The growing
popularity of racing among racing enthusiasts and the preference of consumers
to prefer bikes as luxurious modes of transportation for tour and traveling is
expected to influence the market demand.
Based on engine capacity, the market is
divided into till 125cc, 126-250cc, 251-500cc, above 500cc. Above
500cc segment led the market in 2021 with a market share of 35.37%. The segment
is expected to maintain its dominance in the next five years. The rise in the
youth population and the growing disposable income of the consumers are driving
the demand for high power capacity two wheelers for recreational and off-road
activities.
On the basis of regional analysis, the
western region captured the highest market share of 39.32% in 2021. The western
region of Saudi Arabia consists of countries like Jeddah, Mecca, and Medina, in
which majority of people have high disposable income. The region is home to a
number of international trading ports, sight-seeing locations, and e-commerce
industries.
Major market players operating in Saudi
Arabia two-wheeler market are:
·
Suzuki
Barayan (Saleh Omar Barayan Sons Co Ltd)
·
Harley-Davidson
Inc. (M.A. Al-Mutlaq Sons Co.)
·
Yamaha
Motor Co., Ltd. (Al Khorayef Commercial Co. Ltd.)
·
KTM
AG (Tristar Motorcycles LLC)
·
Moto
Guzzi (Tristar Motorcycles LLC)
·
Honda
Motor Company Limited (Abdullah Hashim Company Ltd.)
·
Kawasaki
Motors Ltd. (Arabian Auto Agency Co. Ltd.)
·
BMW
Motorrad (Mohamed Yousuf Naghi Motors Co.)
·
Hero
MotoCorp Ltd. (M.A. Al-Mutlaq Sons Co.)
·
Ducati
Motor Holding S.p.A. (Saudi Arabian Marketing and Agencies Company. Ltd (SAMCO
Marine))
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“The growing popularity of e-commerce
channels owing to the digital transformation of the country and the growing per
capita income of consumers are driving the demand for two wheelers. The two
wheelers are actively used for delivery services like food delivery, grocery
delivery, and parcel delivery. Market players are offering the delivery of
products at the consumer's doorstep without needing to move out of their houses
physically. Also, the ease of transmission and comfortable riding experience,
and presence of additional foot resting area is expected to fuel the Saudi
Arabia two wheeler market growth till 2027” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Saudi Arabia Two-Wheeler Market By Vehicle Type
(Motorcycle, Scooter/Moped), By Engine Capacity (Till 125cc, 126-250cc,
251-500cc, Above 500cc), By Type of Sales (Individual vs Institutional), By Region, Competition,
Forecast & Opportunities, 2017- 2027”, has evaluated the future
growth potential of Saudi Arabia two wheeler market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Saudi Arabia two wheeler market.
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