Market Insights
As per recent research by MarkNtel Advisors, The Global Two Wheeler Market is projected to grow at a CAGR of around 8.0% during the forecast period, i.e., 2023-28.
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Key Driver: The Rapid Urbanization Prompting the Need for Compact Commuting Solutions
According to the United Nations (UN) Department of Economics and Social Affairs, it is predicted that 68% of the world population is expected to live in urban areas by 2050. As a result, the rising road congestion, insufficient mobility infrastructures, and lack of parking spaces necessitate the demand for compact commuting solutions in developed and developing economies, improving market growth.
Besides, standard bikes are witnessing accelerating demand over traditional motorcycles due to the low initial price driven by the developing economic strength of the urban middle-class population. Furthermore, the sudden surge in gasoline prices makes the urban and rural populace prefer mopeds, motorcycles, and standard bikes from four-wheelers. Other than this, the minimal maintenance required by such vehicles provides the necessary impetus required for further market expansion.
Market Segmentation and Consumer Behavior:
By Type of Fuel
- Gasoline
- Petrol
- Diesel
- LPG/CNG
- Battery
By Vehicle Type
- Moped
- Scooter
- Motorcycle
By Application
- Personal Use
- Commercial Use
By Type of Engine Capacity
- Up to 125 cc
- 126 to 250 cc
- 251 to 500 cc
- Above 500 cc
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Two Wheeler Market Geographical Analysis:
By Region:
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Key Players and Competitive Strategies in the Two Wheeler Market
Several prominent players dominate the Two Wheeler Market, including:
- Hero Moto Corp.
- Yamaha Motor Co., Ltd.
- Harley Davidson
- TVS Motors
- BMW Motorrad
- Piaggio & C.S. p.A
- Bajaj Auto Ltd.
- Kawasaki Heavy Industries, Ltd
- Suzuki Motor Corporation
- Honda Motor Co., Ltd.
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Questions Addressed in this Study
1.What factors are driving the Two Wheeler Market growth?
2.How is the Two Wheeler Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Two Wheeler Market?
4.What is the current size of the Two Wheeler Market, and how is it projected to change in the future?
5.What is the future outlook for the Two Wheeler Market in terms of technological advancements and market expansion?
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