Two Wheeler Market

Two Wheeler Market

Two Wheeler Market Forecasts to 2028 - Global Analysis By Fuel Type (Diesel, LPG/CNG, Gasoline, Battery, Petrol and Other Fuel Types), Transmission (Automatic, Manual and Other Transmissions), Engine Capacity, Technology, End User and By Geography

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4.2 (89 reviews)
Published: 2023 ID: SMRC22375

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $16007.84 MN

Projected Year Value (2028)

US $31394.06 MN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Two Wheeler Market is accounted for $16007.84 million in 2022 and is expected to reach $31394.06 million by 2028 growing at a CAGR of 11.88% during the forecast period. Two-wheelers refer to vehicles that are commonly utilized for travelling small distances. They assist in easy direction through congested roads. These primarily consist of motorcycles, mopeds and scooters that are either manual or powered by fuel/electric motors. Two-wheelers are bifurcated based on long-distance travel, cruising, racing, off-road riding, etc. They have numerous advantages such as a more compact design, lower costs and higher fuel economy. It provides several operational benefits and reduces maintenance costs. They are cost-effective means of transportation. They shorten travel time and have access to better affordability.

According to Antonio Perlot, Secretary General of the European Association of Motorcycle Manufacturers (ACEM), electric motorcycles witnessing a year-on-year growth of 50.5% and electric mopeds are recording an increase of 23.3% respectively.


Market Dynamics:


Maneuverability and Speed

The two wheelers are light in weight, have a glossy design and are easier to maneuver. They are easy to commute in heavy traffic or in congested lanes which enables to reach the destination on time. It is easier to park the vehicle and it also occupies less space. The speed is faster due to its pickup and it also provides a thrill quotient. All these factors are propelling the market growth in the forecast period.


Safety concerns

Motorcycles and mopeds have least protective features for the riders. They have minimal inbuilt safety related parts and devices. Out-of-control bike can be disastrous for pedestrians. The misaligned mirrors and improper safety gear causes huge risk and can also lead to the death of an individual. All these factors are hindering the growth of the market.


Rising demand for electric two wheeler vehicles

The demand for electric vehicles is growing at a very rapid pace. These vehicles use renewable resources of energy and are contributing to the significant growth of the two-wheeler segment. Government is also providing subsidies and tax exemptions on purchasing electric vehicles. The launch of battery swapping policy and the Fame-II Policy are fuelling the growth of the market.


Lack of storage & limited travel distance

The two wheeler vehicles contribute to travel only for shorter distances. It has very little storage capacity. If more weight is added, the unbalanced pressure leads to accidents. The long time travelling results in risk of illness. It weakens immune system and there is higher susceptibility to injuries. All these factors hamper the growth of the market.

Covid-19 Impact

The covid-19 impact was varied across different regions. Some regions witnessed plummeting sales and some regions has huge rise. The market demand fell totally due to imposition of lockdown. The market recovery was further aided by increasing demand for electric 2 wheelers. Adopting these vehicles for short range travelling and commuting to avoid unnecessary social interactions positively influenced the market growth.

The personal segment is expected to be the largest during the forecast period

The personal segment is estimated to have a lucrative growth, due to the increasing population. Two wheeler vehicles provide low maintenance and fuel efficiency. They are easy to handle. They are very economical and best for work purposes. These vehicles are more convenient for individuals for daily usage. All these aspects are driving the market share.

The motorcycle segment is expected to have the highest CAGR during the forecast period

The motorcycle segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising disposable income of consumers and improvement of living standards. Motorcycles provide customization and feasibility. It offers variety of purposes such as sports activity, commuting, long-distance travel, racing and off-road riding which are fuelling the market growth.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to traffic congestion and rise in single person households. This region has the huge population and facing rapid technological development and upsurge in the demand for shared mobility and delivery services. Government is providing subsidies and loan waivers. Growing popularity of bank financing is driving the market growth in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to its power sports activities in the region. Growing technological advancements, racing activities and more extensive ownership of personal 2-wheelers are growing rapidly in this region. This region has jam-packed roads which increased the usage of E-bikes. Major automotive bearing manufacturers across this region are fuelling the market demand.


Key players in the market

Some of the key players profiled in the Two Wheeler Market include TVS Motor Company, Hero MotoCorp Ltd, Maruti Suzuki India Limited, Bajaj Auto Ltd, Honda Motorcycle & Scooter India Pvt. Ltd, Yamaha Motor India Private Limited, Hero Electric Pvt Ltd, Eicher’s Motor Limited, Okinawa Autotech Pvt Ltd, BMW Motorrad International, Piaggio Vehicles Pvt ltd, Energica Motor Company Inc, Kawasaki, Triumph Motorcycles Ltd, Royal Enfield, Harley Davidson

Key Developments:

In December 2022, BMW Motorrad launched CE 04 electric scooter in India. It gets a permanently excited liquid-cooled synchronous motor, which develops maximum power of 42hp and peak torque of 62Nm. The CE 04 will be the country's maiden high-end luxury electric two-wheeler upon its introduction.

In May 2021, Harley-Davidson Launched LiveWire, the Electric Motorcycle Brand. LiveWire creates a unique connection between rider and vehicle. LiveWire is more than a motorcycle delivering the best experience for the urban rider with personality and soul.

Vehicle Types Covered:
• Scooters
• Motorcycle
• Electric Two-Wheeler
• Mopeds
• Other Vehicle Types

Fuel Types Covered:
• Diesel
• Liquefied Petroleum Gas (LPG)
• Gasoline
• Battery
• Petrol
• Other Fuel Types

Engine Capacities Covered:
• <100cc
• 100-125cc
• 126-180cc
• 181-250cc
• 251-500cc
• 501-800cc
• 801-1600cc
• >1600cc
• Other Engine Capacities

Transmissions Covered:
• Automatic
• Manual
• Other Transmissions

Technologies Covered:
• Electric
• Internal Combustion Engine (ICE)
• Other Technologies

End Users Covered:
• Personal
• Commercial
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Two Wheeler Market, By Vehicle Type
5.1 Introduction
5.2 Scooters
5.3 Motorcycle
5.4 Electric Two-Wheeler
5.5 Mopeds
5.6 Other Vehicle Types

6 Global Two Wheeler Market, By Fuel Type
6.1 Introduction
6.2 Diesel
6.3 Liquefied Petroleum Gas (LPG)
6.4 Gasoline
6.5 Battery
6.6 Petrol
6.7 Other Fuel Types

7 Global Two Wheeler Market, By Engine Capacity
7.1 Introduction
7.2 <100cc
7.3 100-125cc
7.4 126-180cc
7.5 181-250cc
7.6 251-500cc
7.7 501-800cc
7.8 801-1600cc
7.9 >1600cc
7.10 Other Engine Capacities

8 Global Two Wheeler Market, By Transmission
8.1 Introduction
8.2 Automatic
8.3 Manual
8.4 Other Transmissions

9 Global Two Wheeler Market, By Technology
9.1 Introduction
9.2 Electric
9.3 Internal Combustion Engine (ICE)
9.4 Other Technologies

10 Global Two Wheeler Market, By End User
10.1 Introduction
10.2 Personal
10.3 Commercial
10.4 Other End Users

11 Global Two Wheeler Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa

12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies

13 Company Profiling
13.1 TVS Motor Company
13.2 Hero MotoCorp Ltd
13.3 Maruti Suzuki India Limited
13.4 Bajaj Auto Ltd
13.5 Honda Motorcycle & Scooter India Pvt. Ltd
13.6 Yamaha Motor India Private Limited
13.7 Hero Electric Pvt Ltd
13.8 Eicher’s Motor Limited
13.9 Okinawa Autotech Pvt Ltd
13.10 BMW Motorrad International
13.11 Piaggio Vehicles Pvt ltd
13.12 Energica Motor Company Inc
13.13 Kawasaki
13.14 Triumph Motorcycles Ltd
13.15 Royal Enfield
13.16 Harley Davidson

List of Tables
1 Global Two Wheeler Market Outlook, By Region (2020-2028) ($MN)
2 Global Two Wheeler Market Outlook, By Vehicle Type (2020-2028) ($MN)
3 Global Two Wheeler Market Outlook, By Scooters (2020-2028) ($MN)
4 Global Two Wheeler Market Outlook, By Motorcycle (2020-2028) ($MN)
5 Global Two Wheeler Market Outlook, By Electric Two-Wheeler (2020-2028) ($MN)
6 Global Two Wheeler Market Outlook, By Mopeds (2020-2028) ($MN)
7 Global Two Wheeler Market Outlook, By Other Vehicle Types (2020-2028) ($MN)
8 Global Two Wheeler Market Outlook, By Fuel Type (2020-2028) ($MN)
9 Global Two Wheeler Market Outlook, By Diesel (2020-2028) ($MN)
10 Global Two Wheeler Market Outlook, By Liquefied Petroleum Gas (LPG) (2020-2028) ($MN)
11 Global Two Wheeler Market Outlook, By Gasoline (2020-2028) ($MN)
12 Global Two Wheeler Market Outlook, By Battery (2020-2028) ($MN)
13 Global Two Wheeler Market Outlook, By Petrol (2020-2028) ($MN)
14 Global Two Wheeler Market Outlook, By Other Fuel Types (2020-2028) ($MN)
15 Global Two Wheeler Market Outlook, By Engine Capacity (2020-2028) ($MN)
16 Global Two Wheeler Market Outlook, By <100cc (2020-2028) ($MN)
17 Global Two Wheeler Market Outlook, By 100-125cc (2020-2028) ($MN)
18 Global Two Wheeler Market Outlook, By 126-180cc (2020-2028) ($MN)
19 Global Two Wheeler Market Outlook, By 181-250cc (2020-2028) ($MN)
20 Global Two Wheeler Market Outlook, By 251-500cc (2020-2028) ($MN)
21 Global Two Wheeler Market Outlook, By 501-800cc (2020-2028) ($MN)
22 Global Two Wheeler Market Outlook, By 801-1600cc (2020-2028) ($MN)
23 Global Two Wheeler Market Outlook, By >1600cc (2020-2028) ($MN)
24 Global Two Wheeler Market Outlook, By Other Engine Capacities (2020-2028) ($MN)
25 Global Two Wheeler Market Outlook, By Transmission (2020-2028) ($MN)
26 Global Two Wheeler Market Outlook, By Automatic (2020-2028) ($MN)
27 Global Two Wheeler Market Outlook, By Manual (2020-2028) ($MN)
28 Global Two Wheeler Market Outlook, By Other Transmissions (2020-2028) ($MN)
29 Global Two Wheeler Market Outlook, By Technology (2020-2028) ($MN)
30 Global Two Wheeler Market Outlook, By Electric (2020-2028) ($MN)
31 Global Two Wheeler Market Outlook, By Internal Combustion Engine (ICE) (2020-2028) ($MN)
32 Global Two Wheeler Market Outlook, By Other Technologies (2020-2028) ($MN)
33 Global Two Wheeler Market Outlook, By End User (2020-2028) ($MN)
34 Global Two Wheeler Market Outlook, By Personal (2020-2028) ($MN)
35 Global Two Wheeler Market Outlook, By Commercial (2020-2028) ($MN)
36 Global Two Wheeler Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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