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Global Two-Wheeler Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Global Two-Wheeler Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Market Research Reports | Q1 2024 | Report ID: BR05003

About the Report

Two-wheelers are easy to manage as they consist of two wheels and are smaller in size. Therefore, the fuel requirement of these vehicles is low compared to vehicles with other class of vehicles. Also, the cost of a two-wheeler vehicle is less as compared to the four-wheelers. Two-wheelers are designed for the mobility of two persons and do not cover much surface area while driving. 


A two-wheeler vehicle is powered by an internal combustion engine or an electric motor (in the case of an electric two-wheeler). The engine converts the reciprocating motion of the pistons into rotary motion, just like the engine in a car. The transmission system transmits this motion to the back wheel. As the back wheel turns, it propels the vehicle forward.


Two Wheeler Market Drivers

Rising demand for personal transportation, benefits offered by two-wheelers (low cost of ownership, flexible manoeuvrability, etc.), supportive government policies regulations, targets (in case of electric two-wheelers), increasing disposable income of people, and growing population are expected to drive the two-wheeler market. 


Supportive government policies for Two Wheelers 

Major countries worldwide are promoting electric vehicles adoption using economic incentives, supportive policies, and regulations to achieve their committed emission targets to combat climate change.


In November 2021, the United States Senate passed the 'Build Back Better Bill' which included provisions related to climate change and social policy. The bill tripled the existing federal tax credit for electric motorcycles from 10% to 30%. 


The credit was capped at a maximum of USD 7,500 and applied to electric motorcycles that meet certain minimum requirements. To qualify for the tax credit, the electric motorcycles need to have at least 2.5 kWh battery and travel at a speed of at least 45 mph (72 km/h).


In Europe, many countries offer incentives for the adoption of electric vehicles. For instance, fully electric vehicles registered between 2011 and 2030 have a ten-year exemption from the motor vehicle tax in Germany.


In Italy electric motorcycles are eligible for a government subsidy of 30% on the original purchase price of the vehicle, totalling up to EUR 3,000 discounted from the purchase. The subsidy is applicable to electric or hybrid scooters and mopeds with an hybrid or electric motor equivalent in performance to a 125cc internal combustion two-wheeler with a top speed of slightly less than 30 mph.


The Italian government is making another EUR 100 million available from 27 Oct 2021, primarily for the promotion of electric and hybrid vehicles. The Ecobonus is scaled according to CO2 emissions and vehicles classes. 


Two Wheeler Market in India

In India, the Indian government introduced a dedicated scheme for promoting electric vehicles called the FAME (Faster Adoption and Manufacturing of Electric vehicles). The scheme is now in its second phase. In Jan 2021, the government increased the incentives for electric two-wheelers in India. Under the FAME II scheme, the incentives increased to INR 15,000 per kWh, up by INR 5000 from the earlier subsidy rate.


Government incentives are one of the most prominent drivers of electric two-wheelers. There is demand for two-wheelers, and that demand is constrained from being fulfilled due to lack of supply. Nothing further illustrates this point further than the fact that Ola could sell more than ₹1,100 crores worth of EVs in just two days. 


Ola was able to sell 20% of the total monthly demand for all two-wheelers in those two days. Even though those sales were based on pre-booking and not actual sales, but with a down payment of INR 20,000 and an estimated 100,000 orders, that translates to INR 200 crores of consumer money paid to Ola, a company not originally known for their auto manufacturing nor having a working product available for consumers to test ride. 


Restraints to Global Two Wheeler Market

The Osborne effect (a social phenomenon where the customer cancels or differs orders for soon to be obsolete products, hoping to buy the new improved product. E.g., the announcement of EVs by the two-wheeler players and their pledge to stop producing ICE 2 wheelers is the main cause for the declining sales) and the rising fuel prices are considered to hamper the conventional ICE two-wheelers market. Whereas the lack of charging infrastructure and high initial cost of the vehicle are considered to be the restraints to the electric two-wheeler market.


Recent Trends in Global Two wheeler Market

As the two-wheeler markets in different regions are experiencing the Osborne effect, major two-wheeler manufacturers, who dominated the internal combustion engine (ICE) powered two-wheelers market, are now venturing into the electric two-wheeler segment via direct development or through investing in EV start-ups. Some of the examples are:

  • Hero MotoCorp, the largest manufacturer of two-wheelers in the world, is a major stakeholder in Ather Energy, a Bengaluru-based EV start-up. In Jan 2021, Hero MotoCorp announced an investment of USD 54.6 million in the start-up, taking its stake to an additional 1%-3%.


Regional analysis

The Asia Pacific region is expected to dominate the two-wheeler market due to the increasing demand with the increasing population for personal transportation and adoption of two-wheelers due to the benefits offered by it expected to drive the two-wheeler market. 


The new Global Two-Wheeler Market report from Blackridge Research comprehensively analyses the two-wheeler market and provides deep insight into the current and future state of the industry.


The report covers detailed profiles of major countries across the world. Each country's two-wheeler market analysis covers the current market scenario, market drivers, government policies & regulations, and market outlook. In addition, market size, demand forecast, and market growth rates will be provided for all regions.


Following are the notable countries covered under each region.


North America - United States, Canada, Mexico, and Rest of North America

Europe - Germany, France, United Kingdom (UK), Russia, and Rest of Europe

Asia-Pacific - China, India, Japan, South Korea, Australia, Rest of APAC

Rest of the world - Saudi Arabia, Brazil, Nigeria, South Africa, and other countries


Key Company Profiles

This report presents detailed profiles of Key companies in the two-wheeler industry. In general, each company profile includes - an overview of the company, relevant products and services, a financial overview, and recent developments. Some of the leading players in the report include both conventional and electric two-wheeler players such as, Hero MotoCorp Ltd, Baja Auto Ltd, Harley Davidson Inc., TVS Motor Company, Ola Electric, etc.


The report provides a comprehensive list of notable companies in the market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.


The study also discusses the strategies adopted by leading players in the industry.


COVID 19 Impact on Two Wheeler Market

Covid pandemic hit industries and businesses globally, and the two-wheeler industry is no exception. The manufacturers suffered a huge setback in dispatches and order bookings. The restrictions in international markets and stringent travel curtailments resulted in considerable loss of order bookings and aftersales services.


According to the IMF World Economic Outlook published in April 2021, global growth is projected at 4% in 2022. The projection for 2022 is much stronger than October 2020 World Economic Outlook. The growth indicates the additional financial support in a few large economies, anticipated vaccine-powered recovery, and continued adaptation of economic activity to somber mobility.


High uncertainty looms over this outlook due to the probable third wave and the evolution of financial conditions. The impact of the COVID-19 pandemic on the oil & gas industry and automobiles industry has already been profound.


Depending upon the path of the pandemic, capital availability of the manufacturers and financial conditions of the general population might affect the two-wheeler market demand.


Two Wheeler Market Segmentation and Forecast

The report dissects the Global Two-Wheeler Market based on the type of powertrain used in the vehicle (ICE and Battery). A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment.


Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for a "bespoke" market segmentation to better align the research report with your requirements.


Further, market size and demand forecasts will be presented along with various drivers and barriers for individual market segments.


The study examines the drivers, restraints, and regional trends influencing Global Two-Wheeler Market demand and growth. The critical elements of the Two-wheeler industry supply chain, its structure, and participants will also be provided in the report.


Using Porter's five forces framework, the report covers the assessment of the Two-wheeler industry's state of competition and profitability.


The report also addresses present and future market opportunities, global market trends, developments, and the impact of Covid-19 on the Two-Wheeler Market, important commercial developments, trends, regions, and segments poised for fastest growth, competitive landscape, and market share of key players in detail.


Further, the report will also provide Two-Wheeler Market size, demand forecast, and growth rates during the forecast period.

  Table of Contents

1. Executive Summary

2. Research Scope and Methodology

3. Market Analysis

  • 3.1 Introduction
  • 3.2 Market Dynamics
    • 3.2.1. Drivers
    • 3.2.2 Restraints
  • 3.3 Market Trends & Developments
  • 3.4 Market Opportunities
  • 3.5 Market Size and Forecast

4. Industry Analysis

  • 4.1 Supply Chain Analysis
  • 4.2 Porter's Five Forces Analysis

5. Market Segmentation & Forecast

  • 5.1 By Powertrain
    • 5.1.1 Internal Combustion Engine (ICE)
    • 5.1.2 Battery

6. Regional Market Analysis

  • 6.1 North America
  • 6.2 Europe
  • 6.3 Asia-Pacific
  • 6.4 Rest of the World

7. Key Company Profiles

  • 7.1 Honda Motor Company Ltd.
  • 7.2 Hero MotoCorp Ltd.
  • 7.3 Yamaha Motor Company Ltd.
  • 7.4 Suzuki Motor Corporation
  • 7.5 Bajaj Auto Ltd.
  • 7.6 Harley Davidson Inc.
  • 7.7 Yadea Group Holdings Ltd.
  • 7.8 Eicher Motors Ltd.
  • 7.9 TVS Motor Company
  • 7.10 Piaggio & C. SpA
  • 7.11 PIERER Mobility AG
  • 7.12 Other Notable Players

8. Competitive Landscape

  • 8.1 List of Notable Players in the Market
  • 8.2 M&A, JV, and Agreements
  • 8.3 Market Share Analysis
  • 8.4 Strategies of Key Players

9. Conclusions and Recommendations

List of Tables & Figures


Additional Notes


  This report helps to:-

  • Gain a deeper understanding of the impact of COVID 19 on the Global Two-Wheeler market
  • Equip yourself with rigorous analysis and forward-looking insight into the Global Two-Wheeler market across various regions
  • Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions will impact market development
  • Assess market data and forecasts to understand how the demand across various segments evolve over the next five years
  • Gain a comprehensive view of the emerging market trends and developments to assess market opportunities
  • Be better informed of your competition by gaining access to detailed information and analysis of key industry players
  • Keep on top of M&A developments, JV's and other agreements to assess the evolving competitive landscape and enhance your competitive position

  Who need this report?

  • Automotive OEMs and Suppliers
  • Raw Materials and Component Suppliers
  • Electric Two-Wheeler Manufacturers 
  • Electric Motor and Battery Manufacturers
  • Investor Community
  • Financing Companies
  • End-User
  • Government Bodies & Industry Organizations
  • Others

  What's included

Report - Global Two-Wheeler Market Outlook to 2028.pdf
Market Data - Global Two-Wheeler Market Outlook to 2028.xls

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