Asia Pacific Two-Wheeler Market to register growth a CAGR of 9.27% until 2027
Increasing automobile sales and production and
rising aftermarket demand for two-wheelers coupled with advancement in
two-wheeler technology will lead to the growth of the Asia-Pacific two-wheeler
market in the forecasted period.
According to TechSci Research report, “Asia
Pacific Two -Wheeler Market By Vehicle Type (Scooters/Mopeds and Motorcycles), By
Propulsion (ICE and Electric) , By Country, Competition Forecast &
Opportunities, 2017-2027F”. Asia pacific two-wheeler
market is anticipated to grow at a robust rate of 9.27% during the forecast
period in terms of value, owing to rapid technological development and upsurge
in the demand for shared mobility and delivery services. China, being the
largest two-wheeler producer and market in the Asia, is expected to grow at a
CAGR of 10.13% in terms of value in the forecast period. The government of China
is planning to improve the productivity of electric two-wheelers, providing subsidies
to ease purchasing of electric two-wheelers and hence, sustained growth is
expected in the country. Strengthening of financial state of global automotive
industry by loan waivers, availability of subsidized rate of commodities and growing
popularity of bank financing will be the key factors responsible for the growth
of Asia-Pacific two-wheeler market in next five years.
Browse more than 194 market data Figures spread through 80 Pages and an in-depth TOC on "Asia-Pacific Two Wheeler Market"
Asia pacific two-wheeler market is classified
based on vehicle type, propulsion and country. Based on vehicle type, the market
is segmented into scooter/moped and motorcycle. An increase in sales of
scooters due to the presence of huge population and disposable income is
upsurging the demand for two-wheelers. Most of the scooters are automatic, and
there is no involvement of gears for the transmission, which makes the
operation of the scooters very easy.
In terms of propulsion
type, electric two-wheeler is the fastest growing segment in the forecast years.
As the two-wheeler manufacturers are adopting new technologies, as a result electric
two-wheelers will increase which correspondingly escalating the demand of two-wheelers. All the electric two -wheelers
come with fewer moving parts so there is no need for the changing of the oil in
electric these vehicles. Moreover, in
many countries people are adopting electric two-wheelers at a faster rate due
to several advantages of electric powered motorcycles over fossil fuel
vehicles, electric two wheelers are getting popular year on year, another
feature of the electric two wheelers is that it has great break-horse-power
braking system. The electric motorcycles are free from gears, meaning the
riders can enjoy rides without shifting gears, therefore it will increase the
adoption of electric two-wheelers.
The majority of automobile production and sales come from China and
India, hence making them leaders of the mainstream market. China, India, and
Indonesia are the three largest two-wheeler producers and markets in
Asia-Pacific. China and India will grow at a CAGR of 7.25% and 7.91% in terms
of volume, respectively, and will help
boost the market in the forecast period.
Due to the implementation of
lockdown to prevent the spread of the COVID-19 pandemic, sales of two-wheelers
fell in most countries at the end of the first quarter and substantially in the
second quarter affecting the current year’s performance. Nevertheless, in most
of the region, the market rapidly recovered in the end of second quarter and mostly
in the third quarter. Hence, giving positive outlook to the market forecast of
year 2022.
Some of the major companies operating in the Asia Pacific two-wheeler
market include:
- Honda Motor Co., Ltd.,
- Hero MotoCorp Limited
- Yadea Technology Group Co.,Ltd.
- Yamaha Motor Co., Ltd.
- TVS Motor Company
- Bajaj Auto Limited
- Suzuki Motor Corporation
- Haojue Holdings Company Ltd
- Harley-Davidson
- Kwang Yang Motor Co. Ltd.
These are the key players
developing advanced technologies and launching new products to stay competitive
in the market. Other competitive strategies include mergers with tech firms,
new product developments, and marketing activities to increase customer
outreach.
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The demand for two-wheelers is expected to increase in the next five
years on account of increasing disposable income and growing traffic congestion
in the countries. Furthermore, increased adaption of new two wheeler
technologies and increasing shared mobility and delivery services is expected
to positively influence the growth of the market.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Asia Pacific Two-Wheeler Market By Vehicle Type (Scooter/Moped and Motorcycle),By Propulsion
(ICE and Electric) , By Country, Competition Forecast & Opportunities, 2017-2027F”, has
evaluated the future growth potential of Asia pacific 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 Asia pacific two-wheeler market.
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