Global Two-Wheelers Market Outlook 2024: Opportunity & Growth Analysis, 2016-2024

Global Two-Wheelers Market Outlook

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Global Two-Wheelers Market Size (USD Billion) & Growth Analysis Global Two-Wheelers Market Size (USD Billion)-2016-2024

Sample Report

XX

XX XX

XX XX XX

XX XX

XX

XX XX

XX

XX 2016e

2017e

2018f

2019f

2020f

2021f

2022f

2023f

2024f

Source: Goldstein Research

Global Two Wheeler Market Size

is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. However, Chinese two-wheeler market was on the decline for various reasons. The most evident was the rise in demand for cars in the country and high import cost on two-wheelers made it difficult for the bike-makers to cater to the segment. This resulted in the down-grade of the two-wheeler segment in the country. Like the car industry, the two-wheeler space is also witnessing a lot of new trends, key among them are safety, sub-segmentation and premiumization. And, of course, when it comes to the growing megatrend of electric mobility, the two-wheeler has taken a strong lead in Asia. Traffic in urban centers such as Jakarta, Kuala Lumpur and Ho Chi Minh City has long been characterized by swarms of small motorbikes and scooters. Honda Motor Co. Ltd and Yamaha Motor Co. Ltd, the world’s biggest motorbike makers, have dominated this sprawling regional market. The landscape is slowly shifting as the Southeast Asian market, the world’s third-largest after China and India, undergoes a structural change. In Malaysia and Vietnam, motorbikes with bigger engine capacities are outselling their smaller cousins.

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Global Two-Wheelers Market Outlook Global Two-Wheelers Market Share(%), By Region-2016-2024

Global Two-Wheelers Market Size USD (Billion). 2016-2024

Sample Report

XX XX

XX% CAGR: (2016-2024)

XX XX XX

XX

XX XX XX%

XX XX% XX XX

XX% XX%

XX%

2024

XX%

2016

XX XX%

XX%

XX XX%

XX%

XX XX 2016e 2017e

2018f

2019f

2020f

2021f

2022f

2023f

Asia Pacific

North America

Europe

Latin America

2024f Middle East and Africa

Source: Goldstein Research

Motorcycles accounted for the highest market share XX% in Global Two-Wheelers In 2016,

XX%

Asia Pacific

With share in 2016, dominated the Global Two-Wheelers market

market

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Global Two-Wheelers Market Outlook  In 2017, India overtook China to emerge as a global leader in the two-wheelers market. India produced a total of XX million two-wheeler vehicles, followed by China at XX million units. China, however, remains the leading exporter of twowheelers, having shipped XX million units in FY2017 compared to India’s count of XX million units during the same period.  The massive government spending in rural programs and large road-construction projects is leading to a pickup in volumes in smaller towns and villages.” Besides the growing infrastructure and rising incomes in the rural areas, one of the primary reasons for the spurt in sales has been the rise of women commuters. For Honda alone, the share of women scooter drivers stands at XX%.  Overall, the value of motorcycle exports rose by an average XX% for all exporting countries since 2013 when motorcycle shipments were valued at USD XX billion. Year over the value of exported motorcycles appreciated XX% from 2016 to 2017. Among continents, Asian countries accounted for the highest dollar worth of exported motorcycles during 2017 with shipments valued at USD XX billion or XX% of the global total. • The motorcycle market is big business and we expect to see healthy growth, with worldwide demand reaching XX million units [per year] by 2020. “However, this growth is not uniform across all regions. The majority of new sales will be in AsiaPacific, where, as living standards continue to improve, an increasing number of households will be able to afford motorcycles…[including those used] for touring and leisure purposes. • Japanese OEMs claim over XX percent of the global motorcycle market – with Honda alone holding XX percent. Chinese OEMs together hold about XX percent. However, production is handled mainly in India, Indonesia and Thailand, as many Chinese and Japanese OEMs invest in local production facilities to feed those growing markets.

Favorable Demographics

Government Spending on Infrastructure Development

Inefficient Public Transport

Growing Personal Disposable Income

APAC Two-Wheelers Market Size (Million Units) India

2016

XX Million

2024

XX Million

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China XX Million

XX Million

Indonesia XX Million

XX Million

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Growth Drivers Young Population and Rising Middle-Class Income 

In addition to the sturdy growth in demand due to a young population and rising middle-class income, Asia offers significant cost advantages. Auto firms save nearly XX-XX% on operations vis-à-vis Latin America and Europe. Rising investments in terms of FDI inflow, of around USD XX billion in the two-wheeler sector, have paved the way for opportunities in manufacturing.



In metros and the larger cities, the sales are also being aided by the choked infrastructure. “People are buying twowheelers for shorter commute and errands, even if they have a car. It is difficult to move around in congested cities, and even more difficult to get a space to park. So, two-wheelers are increasingly becoming the second vehicles in the household



For instance, the Government’s plan to lay out USD XX million in the near future will be a driving force to frame business strategies. Moreover, the Government wants to develop India as a major R&D hub and a global manufacturing center. The Automotive Mission Plan, too, received extensive policy support with reforms in Goods and Services Tax (GST) regulations to boost sector growth.



Moreover, the automotive sector in the ASEAN countries has benefited from rising per capita income and competitive bank-lending rates. Motorization rates continue to remain on a steady course towards the next wave of growth. Vietnam has one of the fastest growing automotive sectors in SEA and is experiencing a sales boom.

Number of motorcycles and scooters sold in the ASEAN region 2017 Singapore

Honda Motorcycle and Scooter India (HMSI), the second-biggest player in the domestic market, will invest USD 120.0 billion to launch new products and improve efficiency at existing production facilities.

XX

Malaysia

XX

Philippines

XX

Thailand

Harley Davidson is all set to launch its first electric motorcycle product in India in the next 16-18 months. Harley Davidson had showcased the Project Livewire concept four years ago.

XX

Indonesia

XX

Source: Goldstein Research

Impact Analysis: ASEAN region has pretty much reached a stage of maturity for Japanese two-wheeler makers like Honda and Yamaha, while there is still immense potential in India. Yamaha’s market projections for 2018 support this premise given that India’s overall two-wheeler market is comfortably ahead of the rest at XX million twowheelers Copyright

High

Medium

Low

Impact on Global TwoWheelers Market

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Global Two-Wheelers Market Outlook : 20162024 Global Two-Wheelers Market Share (%), By Vehicle Type, 2016-2024

XX% Motorcycles XX%

XX%

2016

XX%

Scooters

XX%

2024

Sample Report ď&#x201A;§With India set to go BS VI in less than 26 months from now (April 2020) two-wheelers will see a significant loss in fuel efficiency due to XX percent reduction in NOx. Thus the impact of BS VI will see a drop in fuel economy in the range of X-XX percent, primarily due to near stoichiometric engine operation coupled with stringent NOx limits.

ď&#x201A;§The Bosch Two-Wheeler and Power sports business unit, based in Yokohama, Japan, continues to Source: Goldstein Research gain momentum in the global Global Two-Wheelers Market Y-O-Y Growth, By Vehicle Type 2016- motorcycle market. Since the business unit was founded in April 2024 2015, Bosch motorcycle technology sales have risen more than 20 percent. In comparison, production XX% XX% XX% XX% XX% volumes for motorized twoXX% XX% XX% XX% wheelers have grown by less than five percent over the same period. Demand for enhanced motorcycle safety and smart connectivity solutions is driving the business. Mopeds

2016e

2017e

2018f

2019f

2020f

2021f

2022f

2023f

2024f

Source: Goldstein Research

Global Two-Wheelers Market Size (USD Billion), By VehicleType-2016-2024 XX

XX XX

XX

2016

2024 Motorcycles

Scooters

Mopeds

Source: Goldstein Research

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Global Two-Wheelers Market Outlook By Motorcycles: 2016-2024 Global Two-Wheelers Market Size (USD Billion), By Motorcycles, 2016-2024 XX XX XX

XX

XX XX

Sample Report Many potential new drivers in the region still own two-wheelers, with motorcycle penetration rates at over 80% in Indonesia, Thailand, Vietnam and Malaysia.

XX

Two-wheeler sales in India grew roughly XX% over five years to XX XX about XX million units in fiscal XX 2016, data from the Society of Indian Automobile Manufacturers XX shows. Along the way, India has surpassed China to claim the title of XX the world's largest two-wheeler 2016e 2017e 2018f 2019f 2020f 2021f 2022f 2023f 2024f market. In the current fiscal year, Source: Goldstein Research cumulative sales for 10 months Global Two-Wheelers Market Y-O-Y Growth, By Motorcycles 2016- through January rose XX% on the year to over XX million units. 2024 XX

XX

19.40%

20.15%

20.48%

20.80%

2016e

2017e

2018f

2019f

21.85%

22.50%

23.00%

23.50%

2020f

2021f

2022f

2023f

25.00%

Scooter sales rose XX% in fiscal 2016, sharper than the X% increase in overall two-wheeler sales. Scooters today make up XX% of this market, with their share growing XX percentage points over five years.

2024f

Source: Goldstein Research

Motorcycle Market Growth in Different Countries, 2012-2016 XX% XX%

India

XX% China

XX% XX%

ASEAN

XX% Pacific

XX% XX% 2012

2013

2014

2015

2016

Source: Goldstein Research

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India Two-Wheelers Market Size (USD Billion) & Y-OY growth (%), 2016-2024 India Two-Wheelers Market Size (USD Billion), Compound Annual Growth Rate (%), Y-O-Y Growth Rate (%), 2016-2024 XX% XX XX XX

XX

XX% XX

CAGR: (2016-2024)

XX%

XX XX

XX%

XX XX

XX%

XX

XX%

XX XX

XX%

XX

XX%

XX% XX%

XX

XX%

XX

XX%

XX

-XX% 2016e

2017e

2018f

2019f

2020f

2021f

2022f

2023f

Source: Goldstein Research

Key Insights The growth is not only being led by commuter vehicles, but even larger and expensive twowheelers are being sold in good numbers. Royal Enfield, which sells bikes comfortably priced upwards of USD 1,500 has seen sales grow by over XX% last year, and is now preparing to boost its production capacity. Premium bike makers (those selling products priced upwards of USD 7,500 such as UKâ&#x20AC;&#x2122;s Triumph Motorcycles and American Harley Davidson have also been upping their product portfolio and exposure in India. Triumph, which entered India in 2013, has already sold over 4,000 bikes and now has portfolio of over 17 vehicles.

Top 10 Scooters Units Sold in 2017 Material

Volume

Honda Activa

XX Thousand

TVS Jupiter

XX Thousand

Suzuki Access

XX Thousand

Honda Dio

XX Thousand

Hero Maestro

XX Thousand

Hero Duet

XX Thousand

Honda Aviator

XX Thousand

Hero Pleasure

XX Thousand

TVS Pep+

XX Thousand

Yamaha Fascino

XX Thousand

Source: Goldstein Research

India's current status as the world's largest two wheeler industry and the rapid growth of 250 cc plus motorcycle segment have tipped the scales in India's favour vis-a-vis China. In fact, India is bigger than China in the two-wheeler market and is growing faster. Both represent global potential. The Indian customer is also younger and better product educated than many other markets making them a unique demographic. Although the bulk of the growth in the higher displacement bike segment is in the 250cc-500 cc sweet spot, even the higher end 600 cc plus segment is clocking significant growth. Copyright

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Global Two-Wheelers Market AttractivenessBy Country, 2016-2024 Global Two-Wheelers Market Attractiveness-By Country, 2016-2024

Sample Report

7 6 5

CAGR (%)

4 3 2 1 0 0

2

4

6

8

10

12

14

Market Size (USD Million) India

China

Indonesia

Thailand

Philippines

Malaysia

RoAPAC

Source: Goldstein Research

According to the above graph, Indian Two Wheeler market share is anticipated to be the most attractive market across the region, for new entrants looking to enter in the market, existing players looking for business expansion and investors seeking investment opportunities over the forecast period i.e. 2016-2024 To penetrate fertile geographies, two wheeler manufacturers must work with top-level distributors. These distributors will eventually have to devise sound marketing strategies and persuasive selling points for two wheelers. A winning policy will include innovative and low-cost products for South American markets, along with high configuration design and robust aftersales service. Automobile businesses must also make the investment necessary to produce a motorcycle model suitable for each geography.

Global Two-Wheelers Market BPS Analysis- By Country, 2016-2024 XX% XX% XX% XX% XX%

XX% XX% XX% XX% XX%

XX%

XX% XX% XX% XX%

Rest of APAC Phillippines Malaysia Thailand

XX% XX% XX%

Indonesia China

XX% XX%

XX%

2016

2024

India

XX%

Source: Goldstein Research

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Global Two-Wheelers Market Outlook

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