Two-wheeler Market to Grow at a CAGR of 5.8% over 2025 to 2032; Rising Issue of Traffic Congestion to Propel Market Growth
The global two-wheeler market size was valued at USD 118.20 billion in 2024. The market is projected to grow from USD 118.27 billion in 2025 to USD 175.94 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Two-wheeler Market Size, Share & Industry Analysis, By Type (Scooters, Motorcycles, and Mopeds), By Engine Displacement (Below 125cc, 126cc – 155cc, 156cc – 200cc, 201cc- 500cc, and Above 500cc), By Propulsion (ICE and Electric), and Regional Forecast, 2025-2032 ”.
The increasing demand for urban mobility and the growing issue of traffic congestion are likely to boost the demand for two-wheelers (2Ws) globally. In high-density urban areas, two-wheelers serve as a practical mobility solution, allowing users to navigate heavy traffic and access limited parking spaces more efficiently. Their lower acquisition and operating costs, combined with superior fuel efficiency, position them as an economical choice for daily commuters.
Suzuki Motor Launched a New Vehicle Version to Expand Its Market Reach
In November 2023, Suzuki Motor USA unveiled its latest range of 2024 adventure, sport, cruiser, and street motorcycles. Notably, the 2024 V-STROM 800DE and 800DE Adventure models stood out for their impressive off-road capabilities. Additionally, Suzuki introduced the 2024 Suzuki SV650ABS and GSX-250R ABS sportbike variants.
Rapid Urbanization Coupled with Urban Traffic Congestion to Propel Market Growth
The rise of urbanization, particularly in developing regions such as Asia and Oceania, exacerbates road congestion and parking limitations. These challenges underscore the necessity for efficient transportation options, bolstering market expansion. Moreover, as per the UN on Trade and Development data, the global urban population has surged from 51.6% in 2010 to 56.9% in 2022, with projections expecting nearly 68% of the world population to reside in urban areas by 2050. This rapid urbanization fuels the demand for compact mobility solutions such as two-wheelers.
However, government investigations into electric vehicle fires and explosions, coupled with manufacturer recalls, erode consumer trust and impede the two-wheeler market growth.
Industry Participants Focus on Collaborations to Boost Their Product Portfolio
Top companies emphasize R&D investments, product differentiation & development, and mergers & acquisitions to make a mark in the market. Leading the charge in innovation, Honda R&D (India) Private Limited inaugurated its cutting-edge Solution R&D Center in Bengaluru, Karnataka, in May 2024. This move underscores Honda's commitment to advancing motorcycle and power product development in the Indian market through strategic research and development initiatives.
List of Key Players Mentioned in the Report
- Honda Motor Co., Ltd. (Japan)
- TVS Motor Company Ltd. (India)
- Bajaj Auto Ltd. (India)
- Yamaha Motors Co. (Japan)
- Suzuki Motor Corporation (Japan)
- Triumph Motorcycles (U.K.)
- Bayerische Motoren Werke (BMW) AG (Germany)
- Harley-Davidson, Inc. (U.S.)
- Hero MotoCorp Ltd. (India)
- Kawasaki Motors Corp. (Japan)
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/two-wheeler-market-106884
Key Industry Development
- January 2023: TVS Motor Company introduced TVS Metro Plus 110 in Bangladesh with modified styling and safety features, with an aim to meet the rising customer demand in the Bangladesh market.
Further Report Findings
- Asia Pacific is likely to hold the key global two-wheeler market share during the forecast period. The surge in demand for two-wheelers increases as the traffic congestion increases simultaneously, offering a cost-effective, quick, and flexible mode of transport for residents.
- Following the pandemic, a surge in interest in recreational and touring activities in the U.S. has spurred growth in 2Ws sales, shaping the trajectory of North America's two-wheeler market.
- On the basis of type, the scooters segment is slated to grow at the highest CAGR during the study period. The segment is poised for high growth due to its affordability and ability to offer convenience in traffic-congested cities, making it a preferred fuel-efficient option for urban commuting.
Table of Segmentation
|
ATTRIBUTE |
DETAILS |
|
Study Period |
2019-2032 |
|
Base Year |
2024 |
|
Estimated Year |
2025 |
|
Forecast Period |
2025-2032 |
|
Historical Period |
2019-2023 |
|
Growth Rate |
CAGR of 5.8% from 2025 to 2032 |
|
Unit |
Value (USD Billion) Volume (Thousand Units) |
|
Segmentation |
By Type · Scooters · Motorcycles o Standard o Sports o Cruiser o Touring o Others · Mopeds By Engine Displacement · Below 125cc · 126cc – 155cc · 156cc – 200cc · 201cc – 500cc · Above 500cc By Propulsion · ICE · Electric By Region o North America (By Type, By Engine Displacement, and By Propulsion) · U.S. (By Type and By Propulsion) · Canada (By Type and By Propulsion) o Europe (By Type, By Engine Displacement, and By Propulsion) · U.K. (By Type and By Propulsion) · Germany (By Type and By Propulsion) · France (By Type and By Propulsion) · Rest of Europe (By Type and By Propulsion) o Asia Pacific (By Type, By Engine Displacement, and By Propulsion) · China (By Type and By Propulsion) · India (By Type and By Propulsion) · Japan (By Type and By Propulsion) · ASEAN (By Type and By Propulsion) o Indonesia (By Type and By Propulsion) o Vietnam (By Type and By Propulsion) o Thailand (By Type and By Propulsion) o Rest of ASEAN (By Type and By Propulsion) · Rest of Asia Pacific (By Type and By Propulsion) o Latin America (By Type, By Engine Displacement, and By Propulsion) · Brazil (By Type and By Propulsion) · Mexico (By Type and By Propulsion) · Rest of Latin America (By Type and By Propulsion) o Rest of the World (By Type, By Engine Displacement, and By Propulsion) |
