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Two-Wheeler Market Size 2023 Expected to Reach US$ 181.6 Billion with CAGR of 7.00% by 2028

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Two-Wheeler Market Size 2023 Expected to Reach US$ 181.6 Billion with CAGR of 7.00% by 2028

December 28
18:57 2022
Two-Wheeler Market Size 2023 Expected to Reach US$ 181.6 Billion with CAGR of 7.00% by 2028
Two-Wheeler Market
The global two-wheeler market size reached US$ 121.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 181.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.00% during 2023-2028.

IMARC Group has recently released a new research study titled “Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, which offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of two-wheeler industry?

The global two-wheeler market size reached US$ 121.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 181.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.00% during 2023-2028.

What is two-wheeler?

Two-wheelers are motor-powered vehicles with two wheels that comprise motorcycles, mopeds, scooters, and gyrocars installed with brakes, engine, tires, clutch and gear, accelerator, exhaust pipe, fuel tank, and head and tail lamp. They increase the savings of the riders by lowering the cost of parking, toll fees, and road taxes. They also offer more mileage and consume a lesser amount of fuel compared to cars. Two-wheelers enable riders to avoid traffic congestion and travel smoothly through narrow lanes and tight alleys. They also allow individuals to commute safely and comfortably by avoiding the crowd experienced while traveling in public transportation, such as buses, local trains, shared autos, and metros. They assist in traveling short distances while occupying minimum space for parking due to their compact shape. As they are easy to maintain due to affordable insurance premiums for safeguarding the rider against expenses arising from accidents, the demand for two-wheelers is rising across the globe.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Request and get a sample brochure for free: https://www.imarcgroup.com/two-wheeler-market/requestsample

What are the major market drivers in the two-wheeler market?

Presently, the increasing demand for two-wheelers due to rising expenses on availing personal vehicles represents one of the primary factors influencing the market positively. Besides this, the growing utilization of motorbikes and scooters by bike and taxi service-providing startups is offering a favorable market outlook. In addition, the rising adoption of two-wheelers by logistics companies around the world to deliver packages quickly is strengthening the growth of the market. Apart from this, the increasing integration of electric-powered motors in motorbikes and scooters to eliminate fuel dependency, reduce the emission of automobile exhausts, and increase efficiency is propelling the growth of the market. Additionally, governing agencies of various countries are encouraging the use of eco-friendly motorbikes and scooters to lower the levels of air pollution. They are also undertaking initiatives to install electric vehicle (EV) charging stations across various public places, which is supporting the growth of the market.

Moreover, the rising integration of efficient braking and advanced rider assistance systems (ARAS) in two-wheelers to recognize a vehicle approaching in a blind spot or an imminent frontal collision and automatically adjust the speed is contributing to the growth of the market. Furthermore, key players operating in the industry are developing two-wheelers with permanent magnet motors to provide strong acceleration and enhanced torque capabilities. They are also manufacturing helmets integrated with hands-free and Bluetooth options to connect with other riders, answer phone calls, and navigate roads, which is bolstering the growth of the market.

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://bit.ly/3WrPnH7

Two-Wheeler Market 2023-2028 Analysis and Segmentation:

The report has segmented the market into the following categories:

Type Insights

Scooters

Mopeds

Motorcycle

Electric Two-Wheeler

Technology Insights

ICE

Electric

Transmission Insights

Manual

Automatic

Engine Capacity Insights

1600cc

Fuel Type Insights

Gasoline

Petrol

Diesel

LPG/CNG

Battery

End-User Insights

Personal

Commercial 

Distribution Channel Insights

Offline Channels

Online Channels

By Region:

North America

United States

Canada

Europe

Germany

France

United Kingdom

Italy

Spain

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Latin America

Brazil

Mexico

Middle East and Africa

List of Major Key Players:

Harley Davidson

Hero MotoCorp Ltd.

Honda Motor Co., Ltd.

Suzuki Motor Corporation

Yamaha Motor Co., Ltd.

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.

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