Two-Wheeler Market Report by Type (Scooters, Mopeds, Motorcycle, Electric Two-Wheeler), Technology (ICE, Electric), Transmission (Manual, Automatic), Engine Capacity (<100cc, 100-125cc, 126-180cc, 181-250cc, 251-500cc, 501-800cc, 801-1600cc, >1600cc), Fuel Type (Gasoline, Petrol, Diesel, LPG/CNG, Battery), End-User (Personal, Commercial), Distribution Channel (Offline Channels, Online Channels), and Region 2024-2032

Two-Wheeler Market Report by Type (Scooters, Mopeds, Motorcycle, Electric Two-Wheeler), Technology (ICE, Electric), Transmission (Manual, Automatic), Engine Capacity (<100cc, 100-125cc, 126-180cc, 181-250cc, 251-500cc, 501-800cc, 801-1600cc, >1600cc), Fuel Type (Gasoline, Petrol, Diesel, LPG/CNG, Battery), End-User (Personal, Commercial), Distribution Channel (Offline Channels, Online Channels), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6618
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Two-Wheeler Market Size:

The global two-wheeler market size reached US$ 130.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 230.7 Billion by 2032, exhibiting a growth rate (CAGR) of 6.58% during 2024-2032. The increasing urbanization, rising disposable incomes, improved road infrastructure, fuel efficiency demands, convenient maneuverability in congested areas, expanding middle-class population, and the widespread adoption of electric and hybrid technologies for sustainability are some of the key factors driving the market growth.

Report Attribute
 Key Statistics
Base Year
2023 
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 130.0 Billion
Market Forecast in 2032 US$ 230.7 Billion
Market Growth Rate 2024-2032 6.58%

Two-Wheeler Market Analysis:

  • Market Growth and Size: The global two-wheeler market is experiencing moderate growth on account of rising preferences for sustainable transportation options, coupled with the increasing need for cost-effective mobility solutions.    
  • Technological Advancements: Innovations, such as improved engine efficiency, safety features, and the adoption of electric and hybrid technologies for sustainability, are propelling the market growth.
  • Industry Applications: Two-wheelers are widely utilized for personal commuting, commercial delivery services, recreational riding, and touring.
  • Geographical Trends: Asia Pacific leads the market, driven by rapid urbanization. However, North America is emerging as a fast-growing market due to rising preferences for recreational biking among individuals.
  • Competitive Landscape: Key players are investing in research and development (R&D) activities to innovate and differentiate themselves.
  • Challenges and Opportunities: While the market faces challenges, such as fluctuating raw material prices, it also encounters opportunities on account of the increasing focus on infrastructure development.
  • Future Outlook: The future of the two-wheeler market looks promising, with changing lifestyles of individuals. In addition, the rising adoption of electric vehicles (EVs) is projected to bolster the market growth.
     

Global Two-Wheeler Market

Two-Wheeler Market Trends:

Increasing urbanization across the globe

As more people move from rural to urban areas in search of better opportunities, the demand for affordable and convenient transportation solutions increases. Two-wheelers offer a practical means of navigating through congested urban environments where space is limited, and traffic congestion is a common issue. Their compact size and maneuverability make them particularly suitable for navigating through narrow streets and heavy traffic, providing commuters with a faster and more efficient mode of transportation compared to traditional four-wheel vehicles. Furthermore, changing consumer lifestyles and shifting preferences spurring the demand for feasible or practical solutions, such as two-wheelers due to parking constraints and traffic congestion is aiding in market expansion.

Rising affordability and fuel efficiency

Economic factors such as income levels, employment opportunities, and disposable incomes significantly impact the two-wheeler market. Two-wheelers, being relatively more affordable than cars, motorcycles, and scooters, appeal to a broad spectrum of consumers across different income segments. Moreover, in rural regions, where public transportation infrastructure may be limited, two-wheelers serve as an essential mode of transportation for commuting to work, accessing essential services, and transporting goods, strengthening the market growth. As economies continue to develop and income levels rise, the affordability and practicality of two-wheelers make them a preferred choice among consumers worldwide.

Ongoing technological advancements

Advancements in engine technology, materials science, and manufacturing processes have resulted in lighter, more fuel-efficient, and environmentally friendly two-wheelers. Additionally, the integration of advanced features such as anti-lock braking systems (ABS), electronic fuel injection (EFI), and smart connectivity features enhances the overall riding experience and safety of two-wheeler users. Furthermore, the emergence of electric and hybrid two-wheelers represents a paradigm shift towards sustainable mobility solutions. With growing concerns over air pollution and climate change, there is an increasing demand for eco-friendly alternatives to traditional gasoline-powered vehicles, such as electric scooters and motorcycles that offer zero-emission transportation options, fostering market expansion.

Rising environmental concerns

Environmental concerns, including air pollution and carbon emissions, are driving forces behind the shift towards greener transportation solutions in the two-wheeler market. The combustion of fossil fuels in traditional gasoline-powered vehicles contributes to air pollution, smog, and greenhouse gas emissions, which have detrimental effects on public health and the environment. In response to these concerns, governments worldwide are implementing stringent emission regulations and incentivizing the adoption of electric and hybrid vehicles through subsidies, tax incentives, and infrastructure development. As a result, manufacturers are increasingly introducing electric and hybrid two-wheelers that meet stringent emissions standards and offer comparable performance to their gasoline-powered counterparts, which is further impelling the two-wheeler market growth.

Two-Wheeler Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with two-wheeler market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, technology, transmission, engine capacity, fuel type, end-user, and distribution channel.

Breakup by Type:

Two-Wheeler Market

  • Scooters
  • Mopeds
  • Motorcycle
  • Electric Two-Wheeler
     

Motorcycle dominates the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes scooters, mopeds, motorcycle, and electric two-wheeler. According to the report, motorcycle represented the largest segment.

The expanding appeal of leisure riding and recreational activities, particularly among younger demographics seeking adventure and thrill is fueling the two-wheeler market demand. Motorcycles offer a sense of freedom and individuality, appealing to riders who prioritize mobility and independence. The versatility of motorcycles, suitable for both urban commuting and long-distance travel, further contributes to their popularity among riders looking for versatile transportation options.

Besides this, the practicality and ease of use of scooters make them popular among urban commuters seeking convenient and efficient transportation solutions for navigating congested city streets, strengthening the market growth.

Moreover, mopeds are experiencing increased demand due to their affordability and fuel efficiency, appealing to budget-conscious consumers in both urban and rural areas for short-distance travel.

Apart from this, the rising demand for electric two-wheelers due to escalating environmental awareness and government incentives promoting sustainable mobility solutions, with electric scooters and motorcycles offering zero-emission transportation options for eco-conscious consumers.

Breakup by Technology:

  • ICE
  • Electric
     

ICE holds the largest share in the market

A detailed breakup and analysis of the market based on the technology has also been provided in the report. This includes ICE and electric. According to the report, ICE accounted for the largest market share.

The demand for two-wheelers utilizing internal combustion engine (ICE) technology remains strong due to their widespread availability, established infrastructure, and familiarity among consumers. ICE-powered two-wheelers offer reliable performance and long-range capabilities, making them preferred choices for riders who prioritize convenience and accessibility. In line with this, advancements in engine technology have led to improvements in fuel efficiency and reduced emissions, addressing concerns over environmental impact while maintaining the practicality and versatility of conventional gasoline-powered motorcycles and scooters.

Furthermore, the demand for electric two-wheelers is mainly propelled by growing environmental consciousness and the shift towards sustainable transportation options. Electric bikes and scooters offer zero-emission mobility, addressing concerns over air pollution and carbon emissions. Besides this, advancements in battery technology have extended the range and improved the performance of electric vehicles, making them increasingly practical for daily commuting and urban transportation needs, thereby aiding in market expansion.

Breakup by Transmission:

  • Manual
  • Automatic
     

Manual dominates the market

The report has provided a detailed breakup and analysis of the market based on the transmission. This includes manual and automatic. According to the report, manual represented the largest segment.

The surging demand for manual transmission two-wheelers due to their direct control and engaging riding experience, appealing to enthusiasts and riders who prefer a more traditional approach to motorcycling is impelling the market growth. Manual transmissions offer riders the ability to customize their gear shifts and optimize performance according to their preferences and riding conditions. Concurrently, manual transmission bikes often have lower upfront costs and are easier to maintain compared to their automatic counterparts, making them attractive options for budget-conscious consumers.

In contrast, the demand for automatic transmission two-wheelers is driven by their user-friendly operation and convenience, particularly appealing to urban commuters and novice riders. Automatic scooters and motorcycles eliminate the need for manual gear shifting, offering a simpler and more effortless riding experience. This makes them ideal for navigating congested city streets and stop-and-go traffic, where frequent gear changes can be cumbersome.

Breakup by Engine Capacity:

  • <100cc
  • 100-125cc
  • 126-180cc
  • 181-250cc
  • 251-500cc
  • 501-800cc
  • 801-1600cc
  • >1600cc
     

100-125cc holds the largest share in the market

A detailed breakup and analysis of the market based on the engine capacity has also been provided in the report. This includes <100cc, 100-125cc, 126-180cc, 181-250cc, 251-500cc, 501-800cc, 801-1600cc, and >1600cc. According to the report, 100-125cc accounted for the largest market share.

The demand for two-wheelers with engine capacities ranging from 100cc to 125cc is driven by a balance of fuel efficiency, affordability, and practicality. These bikes offer sufficient power for daily commuting and short-distance travel while maintaining excellent fuel economy, making them cost-effective transportation solutions for budget-conscious consumers. Additionally, their compact size and maneuverability make them well-suited for navigating through congested urban environments, further contributing to their popularity among commuters.

In addition to this, two-wheelers with engine capacities ranging from 126cc to 180cc are sought after for their balance of power and fuel efficiency, catering to riders looking for reliable performance and cost-effective commuting options.

Moreover, the demand for two-wheeler with 181cc to 250cc engine capacity is propelled by enthusiasts seeking a blend of power and agility, ideal for urban commuting and occasional leisure rides.

Besides this, the growing demand for 251cc to 500cc engine capacities among riders seeking more power and versatility, suitable for longer rides and touring, is influencing the market growth.

Furthermore, the demand for the 501cc to 800cc segment is driven by riders looking for high-performance motorcycles capable of handling a variety of riding conditions, offering enhanced power, agility, and advanced features.

Concurrently, the rising demand for premium and luxury features, exceptional power, comfort, and technology is boosting the sales of two-wheelers with engine capacities ranging from 801cc to 1600cc.

Apart from this, the demand for engine capacity above 1600cc is driven by premium and luxury motorcycle enthusiasts seeking unparalleled performance, exclusivity, and prestige.

Breakup by Fuel Type:

  • Gasoline
  • Petrol
  • Diesel
  • LPG/CNG
  • Battery
     

Petrol dominates the market

The report has provided a detailed breakup and analysis of the market based on the fuel type. This includes gasoline, petrol, diesel, LPG/CNG, and battery. According to the report, petrol represented the largest segment.

The demand for petrol-powered two-wheelers is primarily propelled by the widespread availability of petrol stations and established infrastructure, ensuring convenient refueling options for riders. Petrol engines offer reliable performance and long-range capabilities, making them preferred choices for riders seeking versatile transportation solutions. Additionally, petrol-powered two-wheelers often have lower upfront costs compared to alternative fuel options, making them accessible to a broad spectrum of consumers across different income segments.

In contrast, the demand for gasoline-powered two-wheelers is fueled by their widespread availability and familiarity among consumers, offering reliable performance and long-range capabilities suitable for a variety of riding conditions.

Additionally, the rising popularity of diesel-powered two-wheelers among consumers seeking fuel efficiency and cost-effectiveness, particularly in regions where diesel fuel is more affordable or readily available compared to gasoline, is aiding in market expansion.

Concurrent with this, LPG/CNG-powered two-wheelers are gaining traction due to their lower emissions and cost-effectiveness, appealing to environmentally conscious consumers and those seeking alternative fuel options for reduced environmental impact.

Moreover, the expanding penetration of battery-powered electric two-wheelers driven by growing environmental awareness and government incentives promoting sustainable mobility solutions is propelling the market forward.

Breakup by End-User:

  • Personal
  • Commercial
     

Personal holds the largest share in the market

A detailed breakup and analysis of the market based on the end-user has also been provided in the report. This includes personal and commercial. According to the report, personal accounted for the largest market share.

The demand for two-wheelers for personal use is driven by their affordability, convenience, and versatility, offering individuals a practical and cost-effective means of transportation for daily commuting, leisure, and recreational activities. Personal two-wheelers provide users with the flexibility to navigate through congested urban areas, access remote locations, and enjoy the freedom of independent mobility, making them popular choices among individuals seeking efficient and accessible transportation solutions for their daily needs.

On the other hand, the demand for two-wheelers for commercial use is fueled by their efficiency, affordability, and adaptability, making them ideal for various business applications such as delivery services, logistics, and last-mile transportation. Commercial two-wheelers offer businesses a cost-effective solution in densely populated urban areas, where traffic congestion and narrow streets can pose challenges for larger vehicles.

Breakup by Distribution Channel:

  • Offline Channels
  • Online Channels
     

Offline channels dominate the market

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes offline channels and online channels. According to the report, offline channels represented the largest segment.

The demand for two-wheelers through offline channels is driven by the accessibility and personalized service offered by brick-and-mortar dealerships and retailers. Offline channels provide customers with the opportunity to physically examine and test ride various models, facilitating informed purchasing decisions. Besides this, these channels often offer after-sales support, servicing, and financing options, enhancing the overall customer experience.

Apart from this, the demand for two-wheelers through online channels is fueled by the convenience and accessibility of e-commerce platforms and online marketplaces. In addition to this, online channels also offer access to a wide range of models and brands, competitive pricing, discounts, and delivery options, making it an attractive option for tech-savvy consumers, which is creating a positive outlook for market expansion.

Breakup by Region:

Two-Wheeler Market

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
     

Asia Pacific leads the market, accounting for the largest two-wheeler market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

Asia Pacific’s rapid urbanization, congested city streets, and burgeoning middle-class population represent the key factors driving the demand for two-wheelers as they offer a practical and cost-effective mode of transportation. Moreover, the expanding population combined with increasing traffic congestion in urban areas is acting as another significant growth-inducing factor. Additionally, economic growth and rising disposable incomes in many countries within the region have increased the affordability and accessibility of two-wheelers, further bolstering the market demand.

Besides this, the growing interest in alternative transportation solutions in North America, along with emerging trends of recreational riding and urban commuting, with an emphasis on eco-friendly options and technological advancements is contributing to market expansion.

Moreover, in Europe, the demand for two-wheelers is propelled by stringent emission regulations, and a shift towards sustainable mobility solutions, driving interest in electric and hybrid models for urban commuting and leisure riding.

In addition to this, the need for affordable and efficient transportation options, particularly in densely populated urban areas in Latin America where traffic congestion is a significant challenge is boosting the demand two two-wheelers like motorcycles and scooters.

Furthermore, the demand for two-wheelers in the Middle East and Africa is driven by rapid urbanization, improving road infrastructure, and a young demographic profile, with motorcycles and scooters serving as affordable and practical transportation solutions.

Leading Key Players in the Two-Wheeler Industry:

The global two-wheeler market features a highly competitive landscape characterized by intense rivalry among key players and a diverse range of manufacturers vying for market share. Major players in the industry are continuously investing in research and development (R&D) to innovate and introduce new models with advanced features, improved performance, and enhanced fuel efficiency to meet evolving consumer preferences and regulatory standards. Additionally, there is a growing presence of emerging players, particularly in electric and hybrid segments, driven by technological advancements and increasing environmental concerns. Competitive dynamics are further shaped by factors such as pricing strategies, distribution networks, branding, and after-sales services, as companies strive to differentiate themselves, gain a competitive edge, and enhance two-wheeler market revenue.

The two-wheeler market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

  • Harley Davidson
  • Hero MotoCorp Ltd.
  • Honda Motor Co., Ltd.
  • Suzuki Motor Corporation
  • Yamaha Motor Co., Ltd.
     

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

  • In February 2023, Yamaha Motor announced the launch of the refreshed, feature-packed, 2023 lineup of its 125 CC scooter range including the Fascino 125 Fi Hybrid, Ray ZR 125 Fi Hybrid and Ray ZR Street Rally 125 Fi Hybrid.
  • In December 2023, Hero Motor Corp and Ather Energy entered into a partnership for an interoperable fast-charging network in India. Through this collaboration, EV users will be able to seamlessly use both VIDA and Ather Grids across the country. The combined network will cover 100 cities with over 1900 fast charging points.
  • In September 2023, Honda Motorcycle & Scooter India introduced the Activa Limited Edition, offering an unmatched package of sophistication with functional design and superior riding experience.

Two-Wheeler Market Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Type
  • Technology
  • Transmission
  • Engine Capacity
  • Fuel Type
  • End-User
  • Distribution Channel
  • Region
Types Covered Scooters, Mopeds, Motorcycle, Electric Two-Wheeler
Technologies Covered ICE, Electric
Transmissions Covered Manual, Automatic
Engine Capacities Covered <100cc, 100-125cc, 126-180cc, 181-250cc, 251-500cc, 501-800cc, 801-1600cc, >1600cc
Fuel Types Covered Gasoline, Petrol, Diesel, LPG/CNG, Battery
End-Users Covered Personal, Commercial
Distribution Channels Covered Offline Channels, Online Channels
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Harley Davidson, Hero MotoCorp Ltd., Honda Motor Co., Ltd., Suzuki Motor Corporation, Yamaha Motor Co., Ltd., etc.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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 Benefits for Stakeholders:

  • IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the two-wheeler market from 2018-2032.
  • The research report provides the latest information on the market drivers, challenges, and opportunities in the global two-wheeler market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the two-wheeler industry and its attractiveness.
  • The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global two-wheeler market was valued at US$ 130.0 Billion in 2023.

We expect the global two-wheeler market to exhibit a CAGR of 6.58% during 2024-2032.

The emerging trend of personal vehicle ownership, along with the growing demand for two-wheelers, as they offer compact design, improved affordability, enhanced fuel efficiency, low maintenance costs, etc., is primarily driving the global two-wheeler market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous automobile manufacturing units, thereby negatively impacting the global market for two-wheelers.

Based on the type, the global two-wheeler market can be bifurcated into scooters, mopeds, motorcycle, and electric two-wheeler. Currently, motorcycle holds the majority of the total market share.

Based on the technology, the global two-wheeler market has been segmented into ICE and electric, where ICE currently exhibits a clear dominance in the market.

Based on the transmission, the global two-wheeler market can be divided into manual and automatic. Currently, manual accounts for the largest market share.

Based on the engine capacity, the global two-wheeler market has been segregated into <100cc, 100-125cc, 126-180cc, 181-250cc, 251-500cc, 501-800cc, 801-1600cc, and >1600cc. Among these, 100-125cc currently exhibits a clear dominance in the market.

Based on the fuel type, the global two-wheeler market can be categorized into gasoline, petrol, diesel, LPG/CNG, and battery. Currently, petrol holds the majority of the global market share.

Based on the end-user, the global two-wheeler market has been segmented into personal and commercial, where personal currently exhibits a clear dominance in the market.

Based on the distribution channel, the global two-wheeler market can be divided into offline channels and online channels. Currently, offline channels account for the largest market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.

Some of the major players in the global two-wheeler market include Harley Davidson, Hero MotoCorp Ltd., Honda Motor Co., Ltd., Suzuki Motor Corporation, Yamaha Motor Co., Ltd., etc.

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Two-Wheeler Market Report by Type (Scooters, Mopeds, Motorcycle, Electric Two-Wheeler), Technology (ICE, Electric), Transmission (Manual, Automatic), Engine Capacity (<100cc, 100-125cc, 126-180cc, 181-250cc, 251-500cc, 501-800cc, 801-1600cc, >1600cc), Fuel Type (Gasoline, Petrol, Diesel, LPG/CNG, Battery), End-User (Personal, Commercial), Distribution Channel (Offline Channels, Online Channels), and Region 2024-2032
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