Latin America Two-Wheeler Market Share and Forecast 2023-2028

Latin America Two-Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A3315

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Market Overview:

The Latin America two-wheeler market size reached 10.6 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 23.7 Million Units by 2028, exhibiting a growth rate (CAGR) of 14.2% during 2023-2028.

Two-wheeler vehicles mainly include scooters, motorcycles, and mopeds. The high adoption rate of two-wheelers can be primarily attributed to their enhanced fuel efficiency, compact design, cost-effectiveness, and lower carbon emissions. Two-wheelers are one of the most versatile modes of transportation, particularly for easy maneuvering through congested roads.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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The prevalent trend of personal vehicle ownership, particularly among the millennial population, is driving the demand for two-wheelers in Latin America. Additionally, the increasing number of women commuters, especially across Brazil, Mexico, Argentina, etc., is also augmenting the sales of two-wheelers. In line with this, several regional manufacturers are launching specialized vehicles designed to cater to the preferences of the women population. Moreover, the growing penetration of various international two-wheeler OEMs in the region is also driving the market growth. In line with this, improving consumer living standards supported by their rising disposable income levels are catalyzing the demand for advanced and highly-powered motorcycles and scooters. Furthermore, the rapid launch of new, attractive two-wheeler models equipped with the latest technologies at affordable prices is also propelling the market in Latin America. Apart from this, the rising environmental concerns towards increasing vehicular pollution levels have augmented the need for electric two-wheelers. In the coming years, the growing number of government initiatives for promoting the adoption of electric and hybrid two-wheelers will continue to drive the market growth in Latin America.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America two-wheeler market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, fuel type, engine capacity and technology.

Breakup by Vehicle Type:

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Motorcycle
Scooter
Moped

Breakup by Fuel Type:

Gasoline
Electric

Breakup by Engine Capacity:

Less than 100cc
100-125cc
126-250cc
250-500cc
More than 500cc

Breakup by Technology:

Manual
Automatic

Breakup by Country:

Brazil
Mexico
Colombia
Argentina
Peru
Ecuador
Chile
Others

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Bajaj Auto Limited (Bajaj Group), Dafra Motos (Itavema S/A), Honda de México S.A. de C.V. (The Honda Motor Company Ltd.), Kawasaki Motors Manufacturing Corp. U.S.A. (Kawasaki Heavy Industries, Ltd.), Lifan Industry (Group) Co. Ltd, Motomel S.A., Shineray Do Brasil SA, Suzuki Motor Corporation, TVS Motor México (TVS Motor Company Limited), Wanxin Group International, Yamaha Motor de México SA de CV (Yamaha Motor Co. Ltd.), Zanella Hnos & Cia SACIFI., and Zongshen Automobile Industry Manufacturing Co. Ltd. (Zongshen Industry Group Co. Ltd.).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	Million Units
Segment Coverage	Vehicle Type, Fuel Type, Engine Capacity, Technology, Country
Countries Covered	Brazil, Mexico, Colombia, Argentina, Peru, Ecuador, Chile, Others
Companies Covered	Bajaj Auto Limited (Bajaj Group), Dafra Motos (Itavema S/A), Honda de México S.A. de C.V. (The Honda Motor Company Ltd.), Kawasaki Motors Manufacturing Corp. U.S.A. (Kawasaki Heavy Industries, Ltd.), Lifan Industry (Group) Co. Ltd, Motomel S.A., Shineray Do Brasil SA, Suzuki Motor Corporation, TVS Motor México (TVS Motor Company Limited), Wanxin Group International, Yamaha Motor de México SA de CV (Yamaha Motor Co. Ltd.), Zanella Hnos & Cia SACIFI and Zongshen Automobile Industry Manufacturing Co. Ltd. (Zongshen Industry Group Co. Ltd.)
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The Latin America two-wheeler market reached a volume of 10.6 Million Units in 2022.

We expect the Latin America two-wheeler market to exhibit a CAGR of 14.2% during 2023-2028.

The emerging trend of personal vehicle ownership, along with the rising adoption of two-wheelers, owing to their enhanced fuel efficiency, compact design, cost-effectiveness, lower carbon emissions, etc., is primarily driving the Latin America two-wheeler market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several Latin American nations, resulting in the temporary closure of numerous manufacturing units for two-wheelers.

Based on the vehicle type, the Latin America two-wheeler market can be bifurcated into motorcycle, scooter, and moped. Currently, motorcycle holds the largest market share.

On a regional level, the market has been classified into Brazil, Mexico, Colombia, Argentina, Peru, Ecuador, Chile, and others, where Brazil currently dominates the Latin America two-wheeler market.

Some of the major players in the Latin America two-wheeler market include Bajaj Auto Limited (Bajaj Group), Dafra Motos (Itavema S/A), Honda de México S.A. de C.V. (The Honda Motor Company Ltd.), Kawasaki Motors Manufacturing Corp. U.S.A. (Kawasaki Heavy Industries, Ltd.), Lifan Industry (Group) Co. Ltd, Motomel S.A., Shineray Do Brasil SA, Suzuki Motor Corporation, TVS Motor México (TVS Motor Company Limited), Wanxin Group International, Yamaha Motor de México SA de CV (Yamaha Motor Co. Ltd.), Zanella Hnos & Cia SACIFI., and Zongshen Automobile Industry Manufacturing Co. Ltd. (Zongshen Industry Group Co. Ltd.).

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