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(I-TravelNewswire.Com, March 26, 2020 ) Market Overview
• The Global Automotive Two-wheelers Market is expected to grow at a CAGR of 8% during the forecasting period (2019-2026).
• Automotive Two-wheelers is most versatile forms of transportation. The adaptative ability of a motorized two-wheeler can be characterized by its usage. It is used just used for commuting, quickly transport small packages of goods through traffic and other uses. Now, the two wheelers are powered by electric battery or by internal combustion engine using fossil fuel.
• The report covers all the major trends and drivers playing a vital role in the growth of the global Two-wheelers market. The global Two-wheelers market has been segmented based on Region, Vehicle Type, and Fuel Type.
Download free sample: https://www.datamintelligence.com/download-sample/automotive-two-wheelers-market
• The global Two-wheelers market growth is primarily driven by rising use of the two wheelers in the business. The rise in the delivery services and two wheelers taxi in the developing nations like India, China, Indonesia and other is the major driver for the two-wheeler market in the forecast period. Gurugram-headquartered food delivery and restaurant-discovery platform Zomato has taken a plunge at experimenting with mobility in the food delivery sector as it started delivery via cycles which include mechanical and electric bikes. Zomato has partnered with Mobycy, e-HIRAN, TNT, Yulu and Zoomcar’s PEDL to provide e-cycles to aspiring delivery executives who are allotted shorter order distance — an average of 2.5 km — to ensure faster delivery.
• The rise in the demand for the electric two wheelers across the world owing to the government regulations to reduce the carbon footprints will drive the market for the two wheelers market for the forecast period. Governments are also investing for the promotion of electric two wheelers. For Instance, the government of India has announced an outlay of approximately US$ 1.5 billion for Phase 2 of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles, or FAME 2 scheme, to boost electric mobility and increase the number of electric vehicles in commercial fleets.
• However, the stringent regulation for emission by petrol two wheelers and the availability of low-cost cars in the market are the major factors that will hinder the growth of the Two-wheelers market for the forecast period.
• By Vehicle Type, the global Two-wheelers market is segmented into Motorcycle, Scooter, and Moped. Motorcycle have the dominant position in the Two-wheelers Vehicle Type segment and is expected to retain its dominance in the forecasted period due to the rise in the disposable income among the rural population in India and the growing interest among males to ride motorcycles will drive the market. With the rise in the delivery services and the need for the extra space in the vehicle will make the market for scooter grow with the higher CAGR in the forecast period.
• By Fuel Type, the global Two-wheelers market is segmented into Petrol power Internal Combustion Engines, and Electric battery powered Motors. Petrol power internal combustion engine has the dominant share in the Fuel Type segment and is expected to retain its dominance in the forecast period. However, the favorable government policies and the rising awareness among the people reducing carbon footprint is expected to drive the market for the electric battery powered motors in the forecast period.
• By geography, the global Two-wheelers Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
• Asia-Pacific holds the largest market share for Two-wheelers Market, due to the rise in the population coupled with the increasing disposable income of the people in the region are the major factor driving the market. China, India, Indonesia, and Malaysia are major countries owing to the larger share of Asia-pacific for two-wheeler market. Asian countries have larger penetration regarding the two-wheelers in the world. In India, about 102 out of 1000 people have two-wheelers, while have Indonesia 281 and Thailand 291 which is the highest.
• Europe is after Asia-Pacific in terms of market share in global Two-wheelers market, due to rise in the export of premium two wheelers. With the growing in the urbanization, rise in the disposable income and the improvement in the infrastructure for roads have increased the demand for the two-wheelers market in the South African. The companies are launching new products to penetrate the market. For instance, in April 2019, Vespa’s First Electric Scooter Has Finally Arrived In SA.
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Two-wheelers Market is a fragmented market with the presence of various global and regional players in the market. The major players include Honda, Yamaha, Hero Moto Corp, Bajaj Auto, and TVS. Other key players in the market include Suzuki, BMW, Royal Enfield, KTM, and Piaggio.
In September 2019, Rissala Electric Motors Private Limited (REM), an electric mobility start-up, has launched the Evolet brand of electric scooters, motorcycles and an electric ATV in India. The electric scooter range includes Polo Pony, Pony and Derby. All three are low speed electric scooters.
In May 2019, Two-wheeler major Hero MotoCorp on Monday launched two new scooters - Maestro Edge 125 and Pleasure+ 110 a" for the domestic and international markets. Accordingly, the company launched India's first scooter with 'Fuel Injection' (FI) technology - the Maestro Edge 125.
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