Growing Vehicle PARC in Densely Populated Cities Drives the Value of Agility & Reduced Commute Time Benefits Offered by Motorcycles, Scooters and Mopeds

The global market for Motorcycles, Scooters and Mopeds is projected to reach 66.4 million units by 2024, driven by rapid urbanization, growing vehicle PARC, inadequate road infrastructure and public transport facilities in developing markets and the ensuing focus on convenient features, economic and environmental benefits offered by two wheeled vehicles.

Powered two-wheelers fulfill a strong need for convenience, speed, and personal mobility. Divided into three segments, the powered two-wheelers market is replete with instances of changing market patterns. The last two decades have comprehensively transformed global powered two-wheelers market with demand often outgrowing expectations, beating market calculations. Global motorcycles, scooters and mopeds market is poised to expand in the coming years. Rising personal mobility needs of the growing global population, increasing number of young and middle class population, rising employment rates and improving disposable incomes are all poised to benefit the market growth in the near to mid-term. Further, the ongoing, fast paced urbanization in several developing countries in Asia-Pacific, Latin America and the Middle East and lack of efficient and effective public transportation systems in most parts of these regions, and traffic congestions and stringent emission norms in developed regions such as the US, Canada, and Europe would help significantly widen the unit sales of motorcycles, scooters and mopeds. Improvement in road infrastructure in several parts of the world is another factor encouraging the demand for powered two-wheelers, globally.

Motorcycles, scooters and mopeds, being smaller in size, offer greater flexibility to the rider in high-traffic and congested urban roads, as against passenger cars, helping people to move freely and conveniently to reach their target destinations. The smaller footprint and slender design of two-wheelers results in less congestion on roads that eventually reduces the commuting times. While 2-Wheelers have emerged as statements of expression and leisure in the western world, they remain a basic means of transport in most regions worldwide. Developing regions dominate the market for two-wheelers and are expected to continue their dominance. While power, quality and comfort continue to dominate 2-wheeler sales in the developed world, recent trends in price-sensitive markets such as Asia-Pacific highlight the importance of price in the purchase decision. Another significant factor driving 2-wheeler sales has been the consistent fall in interest rates in large-volume markets such as India. The European market offers a much wider range of scooter models than the U.S. market. Europeans evince great interest in scooters, resulting in higher utility, and willingness to spend more on their scooters than their American counterparts.

Technology advancements stand as a major factor that will continue to spur the adoption of motorcycles, scooters and mopeds over the years in the global market. Breakthroughs and innovations made in the areas of power performance, braking mechanism and electronic circuit systems including lighting technology and auto start are making new age two-wheelers more superior as compared to their older versions. Electric motorcycles and scooters are gradually gaining traction over traditional gasoline based vehicles, although they continue to remain a niche product line in most parts of the world. Factors such as lesser environment and noise pollution, lower purchasing costs, low cost of operation, enhanced battery technology, higher efficiency and longer battery life will provide the required impetus to the electric bikes and scooters market in the near term.

As stated by the new market research report on Motorcycles, Scooters and Mopeds, Asia-Pacific represents the largest market worldwide and will continue to remain primary volume contributor for two-wheelers in the short to medium term period as people in these nations look at two-wheelers as most comfortable and economical mode of transportation. Latin America is forecast to emerge as the fastest growing market with a CAGR of 5.5% over the analysis period. Preference for two-wheelers as affordable and fuel efficient transport option among middle and lower middle class Latin Americans and a sect called Brazilian Amazons have especially boosted their demand over the years.

Major players in the market include Bajaj Auto Limited, BMW Group, China Jialing Industrial Co., Ltd., Ducati Motor Holding SpA, Harley-Davidson, Inc., Hero MotoCorp Ltd., Honda Motor Co., Ltd., Honda Italia Industriale S.p.A., Honda Motorcycle & Scooter India (Private) Ltd., Kawasaki Heavy Industries, Ltd., KTM AG, Lifan Industry (Group) Company, Piaggio & C. SpA, Polaris Industries Inc., Suzuki Motor Corp., Triumph Motorcycles Ltd., Yamaha Motor Co., Ltd., India Yamaha Motor Pvt. Ltd., and Yamaha Motor Taiwan Co., Ltd., among others.

The research report titled "Motorcycles, Scooters and Mopeds - Market Analysis, Trends, and Forecasts" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in units for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, India, Indonesia, Malaysia, The Philippines, Taiwan, Thailand, Vietnam, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World.

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