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IMARC Group's report titled "Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global two-wheeler market growth. The global 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.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/two-wheeler-market/requestsample
Factors Affecting the Growth of the Two-Wheeler Industry:
Government policies and incentives are promoting the adoption of electric two-wheelers. Several countries are implementing policies and incentives, including subsidies, tax exemptions, and grants to encourage the purchase of electric vehicles (EVs), aiming to reduce carbon emissions and combat climate change. These initiatives lower the cost barrier for users and make electric two-wheelers an attractive alternative to their gasoline-powered counterparts. Additionally, governments are investing in the necessary infrastructure, such as charging stations, to support the growth of the electric two-wheeler ecosystem. Policies promoting local manufacturing of two-wheelers and their components are fostering domestic industries and reducing dependency on imports.
Manufacturers are investing in research and development (R&D) to introduce EVs, enhance fuel efficiency, and improve the overall performance of two-wheelers. The adoption of electric two-wheelers is increasing, driven by the growing environmental concerns and the implementation of stringent emission norms. Additionally, advancements in battery technology are making electric two-wheelers more accessible and practical for daily use. Features like anti-lock braking systems (ABS), connected vehicle technology, and advanced navigation systems are becoming standard, appealing to a tech-savvy user base seeking convenience and safety. These innovations not only cater to the evolving demands of the user but also comply with sustainability goals.
Individuals are showing a preference for vehicles that are not only economical and efficient but also stylish and equipped with the latest features. This shift is particularly evident among younger demographics, who prioritize sustainability, digital connectivity, and personalization. Manufacturers are focusing on developing two-wheelers that incorporate advanced technologies, such as Bluetooth connectivity, digital dashboards, and smartphone integration, catering to the connected lifestyle of modern individuals. Moreover, the growing interest in health and fitness is resulting in the popularity of electric bicycles (e-bikes), which are seen as an eco-friendly alternative to conventional two-wheelers and cars. These changing user preferences are promoting manufacturers to innovate and diversify their product offerings.
Leading Companies Operating in the Global Two-Wheeler Industry:
Two-Wheeler Market Report Segmentation:
By Type:
Motorcycle exhibits a clear dominance in the market due to its versatility, affordability, and wide range of models catering to diverse user needs.
By Technology:
ICE represents the largest segment attributed to its well-established infrastructure, high performance, and cost-effectiveness compared to emerging alternatives.
By Transmission:
Manual accounts for the majority of the market share owing to its lower cost, simplicity, and better control over vehicle performance.
By Engine Capacity:
100-125cc hold the biggest market share. It balances power, fuel efficiency, and affordability, catering to a broad spectrum of users.
By Fuel Type:
Petrol exhibits a clear dominance in the market accredited to its widespread availability, established supply chain, and compatibility with the majority of two-wheelers.
By End-User:
Personal represents the largest segment, as two-wheelers are primarily used for personal mobility for offering convenience and affordability.
By Distribution Channel:
Offline channels hold the biggest market share, driven by the rising preference for physical inspections, test rides, and immediate purchase processes offered by dealerships.
Regional Insights:
Asia Pacific dominates the market owing to the essential role of two-wheelers in daily transportation within densely populated cities.
Global Two-Wheeler Market Trends:
The growing emphasis on shared mobility platforms, offering access to electric scooters and bikes for short-term rentals, is gaining popularity in urban areas as a convenient and eco-friendly alternative to private vehicle ownership. These platforms not only address issues of urban congestion and pollution but also introduce users to the benefits of electric two-wheelers, potentially encouraging their adoption for private use.
The advancement of internet of things (IoT) technologies is enabling the development of smart two-wheelers equipped with features, such as real-time monitoring, remote diagnostics, and predictive maintenance. These innovations enhance the user experience by improving safety, efficiency, and convenience, making two-wheelers an increasingly attractive option for urban commuters.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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