Global Two Wheelers Market to Reach USD 154.3 Billion by 2024

Posted on 2018-11-08 by Goldstein Research in Automotive // 0 Comments

New York, USA, 2018-Nov-08 — /EPR Network/ —According to Goldstein Research, global two wheeler market is expected to reach USD 154.3 billion by the end of 2024 from USD 90.1 billion in 2016, growing at a CAGR of 6.9%. The growing middle-income class population, urbanization of a region and traveling convenience are driving the growth of two-wheelers market. Global Two wheelers market segmentation has been done on the basis of vehicle type, fuel type, and geography. With the growing per capita income, growth in sales of two-wheelers has been recorded. The electric fuel type of two-wheelers is expected to acquire largest market share over the forecast period. Global two wheeler market is dominated by Asia-Pacific that accounts for 80% of the global two-wheeler sales. Motorcycles account for largest sales in China and India.

APAC is closely followed by Europe and the Middle East and Africa (EMEA) accounted for 12% market share in 2016. North America two-wheelers market share experienced a downfall, but since 2014 growth in sales of two-wheelers is witnessed.

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Market Segmentation

On the basis of our in-depth analysis, Global Two Wheelers Market can be segmented as follows:

By Vehicle Type

Motorcycles Market Analysis, 2016-2024
Scooters Market Analysis, 2016-2024
Mopeds Market Analysis, 2016-2024

By Fuel Type

Gasoline
Electric

By Region

North America Two Wheelers Market Analysis, 2016-2024
Europe Two Wheelers Market Analysis, 2016-2024
The Middle East And Africa Two Wheelers Market Analysis, 2016-2024
Latin America Two Wheelers Market Analysis, 2016-2024
Asia Pacific Two Wheelers Market Analysis, 2016-2024
Rest Of The World Two Wheelers Market Analysis, 2016-2024

“Global Two Wheelers Market Outlook 2024” contains a detailed overview of the global two-wheelers market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by vehicle type, fuel type and geography.

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The Global Two Wheelers Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities and investments. The in-depth analysis of two-wheelers market report will help the clients to assess their business strategies as per the competitive environment in the market space. Global two wheeler market size is expected to reach USD 154.3 billion by the end of 2024 from USD 90.1 billion in 2016

Major players of the global two-wheelers market discussed in the report are: Honda Motor Co. Ltd., Yamaha Motor Company Limited, Kawasaki Heavy Industries Motorcycle & Engine Company, Ducati Motor Holding S.p.A., Hero Motocorp Ltd., TVS Motor Company, Bajaj Auto Limited, Suzuki Motor Corporation, Harley-Davidson, Inc, BMW AG, Aprilia, Triumph Motorcycles Ltd, KTM AG, Piaggio& C. SpA, etc.

Further, Global Two Wheelers Market Report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. The Two Wheelers Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

Global two wheeler market is driving on the basis of advancement in the mentioned below industry:

Asia Pacific (APAC) Two Wheelers Market

Rapid urbanization and growing middle class annual incomes in developing countries of Asia are the major factors which led to the higher expenditures over transportation convenience. The Asia Pacific two wheeler market accounted for USD 76.4 billion in 2016 and expected to reach USD 76.4 billion by the end of forecast period i.e. 2024. Further the market is anticipated to expand at compound annual growth rate of 6.2% over the forecast period i.e. 2016-2024.

Africa Two Wheelers Market

Rising urbanization and decline in dependable public transport system has led to the rapid growth of non-conventional modes of public transport, initially provided by the shared vans and mini buses and more recently by motorcycles, which led to the rapid growth of two wheelers market in Africa. Africa two wheeler market accounted for USD 4.6 billion in 2016 and is expected to reach USD 9.3 billion by the end of forecast period i.e. 2024. Further the market is anticipated to expand at a compound annual growth rate of 9.1% over the forecast period i.e. 2016-2024.

Electric Two Wheelers Market

Rising environmental concerns and general awareness about electric vehicles among consumers is also the major factor for the growth of electric two wheelers market. Electric two wheeler market is likely to thrive with the emergence of advanced battery technologies and new government initiatives. Further, the electric two wheelers market is projected to expand at a CAGR of 12.4% over the forecast period and the major growth regions are likely to be the Europe and Asia Pacific.

Premium Motorcycles Market

In recent years the largest market for premium motorcycles such as the U.S and Europe have witnessed a gradual decline in sales owing to reducing the number of bike enthusiasts in the region. Further, the premium motorcycles industry is likely to expand at a CAGR of +25% over the forecast period i.e.2017-2025.

China Automotive Industry

China automotive industries grown at an exceptional compound annual growth rate (CAGR) of 25% from 2001 to 2010, with more than 18 million automobile units were sold. Automobile Industry in China is likely to grow at a CAGR of +5% during the forecast period 2017-2025. Further, China’s manufacturing of NEVs expanded from about 17,500 units in 2013 to 517,000 units in 2016.

Germany Automotive Industry

Germany is also the global leader in vehicle production with over 15 million vehicles produced in 2015 or 19% of the total vehicles manufactured across the globe. German automotive industry accounted for approximately USD 322.0 billion in 2015 generated from foreign markets. Germany’s automotive industry is also one of the most innovative industries with R&D investments amounting to USD 24.1 billion in 2014.

Norway Automotive Industry

Some regions in Norway have started to charge higher road tolls for diesel cars than for petrol-driven vehicles, which is also fueling the growth of new electric vehicles in the region. Norway Automobile Industry is likely to grow at a CAGR of around 8% during the forecast period 2017-2025. Electric or hybrid vehicles in Norway accounted for more than half of all new vehicles registered in the country in 2017.

India Automotive Industry

Total automobile trades grew 13.01 percent year-on-year from 2016 to 2017. Automobile Industry in India is likely to grow at a CAGR of +12% during the forecast period 2017-2025. Moreover, Indian automotive industry sales of passenger vehicles and two wheelers up surged by 5.3% and 40.31% year-on-year respectively, in December 2017.

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