DUBLIN, May 5, 2023 /PRNewswire/ — The report “Asia Pacific Two-Wheeler Market by Vehicle Type (Scooter/Moped, Motorcycle), by Propulsion (ICE and Electric), by Country, Competition Forecast and Opportunities, has been added, 2017-2027F” a ResearchAndMarkets.com’s offers
The Asia Pacific was in the two-wheeler market 58.82 million dollars in 2021 and is estimated to arrive 95.32 million dollars by 2027, advancing at a CAGR of 9.28%.
Companies mentioned
- Honda Motor Co., Ltd.
- Hero MotoCorp Limited
- Yadea Technology Group Co. Ltd.
- Yamaha Motor Co., Ltd.
- TVS Motor Company
- Bajaj Auto Limited
- Suzuki Motor Corporation
- Haojue Holdings Company Ltd
- Kawasaki Motors Corp.
- Kwang Yang Motor Co. Ltd.
An increase in technological development and an increase in demand for shared mobility and delivery services are driving the growth of the Asia Pacific two-wheeler market in the forecast years.
Growing urbanization in the countries of the region is expected to be the key driver for the growth of the two-wheeler market in Asia Pacific. In addition, increasing population and increasing demand for transportation are the other factors contributing to the growth of the market. Additionally, increasing traffic congestion and environmental pollution are expected to further drive the demand for two-wheelers. Inconvenient public transport in the countries is one of the main reasons responsible for the growth of the two-wheeler market.
Due to the lockdown declaration to deal with the spread of the infection, almost all factories, showrooms and car workshops were shut down, leading to a massive decline in sales. china i India leads the production of automobiles in the Asia Pacific region According to the ASEAN Statistics Association, shipments of chinawhich depends more on exports to others, fell by 90%. April 2020 compared to March 2020.
Indonesia production is expected to decline by 17% in FY 2020. Due to this slowdown in trade and production in the automotive sector, the two-wheeler market is also expected to be adversely affected. The spread of the new COVID-19 pandemic has created both a public health crisis and an economic crisis asia peaceful region In June 2020the International Monetary Fund (IMF) predicted regional contraction of 9.4% for 2020 with almost all countries in recession.
Economic recovery may be a protracted process in countries that rely heavily on global trade and investment, which the pandemic has significantly affected. In addition, around 60% of employees and workers in this region are in the informal sector and many are self-employed in a subsistence and daily life economy and are therefore at risk of falling back into poverty and, with that, the unemployment rate in the region. it is expected to increase to 13.5% by the end of 2020.
Growing penetration of Chinese players
china is the largest two-wheeler market globally, two-wheelers and. Chinese companies have a significant market share asia too. Few of the prominent Chinese companies are Lifan, Loncin, Qingpi, Zongshen, etc. Some of the prominent reasons for the growth of Chinese two-wheeler companies are their wide distribution channel, product diffusion and low cost of two-wheelers. Moreover, the easy availability of Chinese two-wheelers has also fueled their demand across the region.
Increased penetration of electric two-wheelers
The increase in fuel prices has a negative impact on the automobile industry, so the automobile industry has started to focus more on electric vehicles. Electric two-wheelers are gaining popularity worldwide as people are increasingly concerned about climate change and electric two-wheelers are environmentally friendly. All electric two-wheelers come with fewer moving parts, so there is no need to change the oil on electric motorcycles.
In many countries, people are adopting electric two-wheelers at a faster rate due to the various advantages of electric motorcycles over fossil fuel vehicles, electric two-wheelers are becoming popular year by year, another feature of both electric wheels is that they have a big break. horsepower braking system. Electric motorcycles are gear-free, meaning riders can enjoy rides without shifting gears, so it will increase the adoption of electric two-wheelers and drive the market for Asia Pacific two wheels
Increase in two-wheeler online sales
Growth of the e-commerce sector a asia The Pacific region is growing at a rapid pace, due to increasing internet penetration. Online sales of two-wheelers have increased in Asian countries due to various advantages such as brand and price comparison, fast delivery and high discount offers. By offering this service, shoppers can more easily compare brands and prices and rely less on dealers and distributors for information. So many companies everywhere Asia Pacific now they are selling two wheelers through online sales channel in order to expand their business.
Technological Advancement
Today, as manufacturers implement cutting-edge technologies, two-wheelers offer more comfort and safety. For example, anti-lock braking systems (ABS) are indirectly driving sales due to their high performance and quick braking ability. Modern motorcycles usually have slip clutches, which are intended to partially disable acceleration to the rear tire when the engine is operating at a power that is usually higher than its own potential.
Because of their safety benefits, slipper clutches, which were originally developed for high-performance supersport bikes and track cars, are now more commonly used. Manufacturers are introducing two-wheelers that run on renewable resources like solar energy, water or electricity. These initiatives are encouraging market expansion over the forecast period, attracting customers who care about the environment.
Scope of the report:
In this report, the Asia Pacific two-wheeler market has been segmented into the following categories along with the industry trends which have also been detailed below:
Asia Pacific Two Wheeler Market, By Vehicle Type:
Asia Pacific Two Wheeler Market, By Driveline:
Asia Pacific Two Wheeler Market, by Country:
- china
- India
- Indonesia
- vietnam
- Thailand
- Pakistan
- philippines
- Taiwan
- malaysia
- Japan
- Bangladesh
For more information on this report, visit https://www.researchandmarkets.com/r/sxh03
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