Two-Wheeler Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

The Two-Wheeler Market was valued at USD 686.88 Billion in 2024, and is expected to reach USD 797.51 Billion by 2030, rising at a CAGR of 2.52%. The market is undergoing significant evolution, driven by the increasing need for affordable personal mobility, rising fuel costs, and rapid urbanization. Two-wheelers continue to be a preferred mode of transport in congested cities due to their cost-efficiency, lower maintenance, and fuel economy. According to SIAM, India’s two-wheeler sector recorded a 16.23% rise in unit sales between January and November 2024, indicating robust domestic demand fueled by positive consumer sentiment, favorable monsoon, and festive season sales.

Technological advancements such as smart connectivity, enhanced safety features, and electric propulsion are transforming product offerings and user expectations. The growing adoption of electric two-wheelers is being driven by stringent emission standards and consumer inclination toward sustainable transportation. Opportunities are also emerging through shared mobility services, flexible ownership models like subscriptions, and greater access to financing options, particularly for first-time buyers. Manufacturers are investing in innovations related to battery efficiency, lightweight construction, and AI-integrated mobility to remain competitive.

Market Drivers

Rising Demand for Cost-Effective Urban Mobility

The surge in urbanization and escalating traffic congestion are key factors boosting the appeal of two-wheelers as an economical mode of transportation. Their agility, fuel efficiency, and low upkeep make them an ideal solution for navigating busy urban areas. The affordability of scooters and motorcycles attracts a wide consumer base, including daily commuters and gig economy workers. With rising income levels among lower- and middle-income populations, the accessibility of two-wheelers remains strong. Higher fuel prices have further intensified interest in economical commuting options. Government-backed financing schemes and credit access programs are also encouraging adoption.

Additionally, modern features such as digital dashboards, GPS navigation, and smartphone integration are being included without significantly increasing cost, enhancing the value proposition. In parallel, the rise of shared mobility is reshaping transportation habits - revenues from hailed mobility reached USD 130 billion, with projections of USD 450-860 billion by 2030. Shared micromobility alone is expected to contribute up to USD 90 billion, offering further growth opportunities for the two-wheeler segment.

Key Market Challenges

Inadequate Charging Infrastructure for Electric Variants

A major obstacle to the growth of the electric two-wheeler market is the insufficient availability of reliable charging infrastructure. Electric vehicles require a broad and accessible charging network to meet user expectations and ease concerns around limited range. However, infrastructure development has not kept pace with electric vehicle adoption, particularly in developing regions. Range anxiety remains a significant barrier, with many potential users deterred by the lack of convenient public charging facilities. In densely populated urban environments, the absence of personal parking spaces or electrical connections further complicates at-home charging. These limitations restrict the usability and growth potential of electric two-wheelers, posing a challenge for manufacturers and governments aiming to accelerate electrification.

Key Market Trends

Rise of Subscription and Leasing Models

Shifting consumer attitudes toward ownership are leading to increased interest in subscription and leasing models within the two-wheeler industry. These flexible alternatives provide access to vehicles without the financial burden of long-term commitments or upfront costs. Subscription models typically include bundled services such as insurance, maintenance, and repairs, appealing to cost-conscious and convenience-driven users. This model is gaining popularity among urban residents, delivery personnel, and younger consumers who prioritize flexibility and technological access over traditional ownership. Leasing is also becoming attractive in the electric vehicle segment due to rapid technological innovation and the risk of obsolescence. Fleet operators in the delivery and ride-sharing sectors are adopting these models to scale operations efficiently while managing expenses.

Key Market Players

• MotoCorp Ltd.
• Bajaj Auto Ltd
• Yamaha Motor Co., Ltd
• Piaggio & C. S.p.A
• TVS Motor Company Limited
• Harley Davidson
• Suzuki Motor Corporation
• Kawasaki Heavy Industries, Ltd
• Honda Motor Co., Ltd
• BMW Motorrad

Report Scope:

In this report, the global Two-Wheeler Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Two-Wheeler Market, By Vehicle Type:

• Scooter/Moped
• Motorcycles

Two-Wheeler Market, By Propulsion Type:

• ICE
• Electric

Two-Wheeler Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe & CIS
• Germany
• France
• U.K.
• Spain
• Italy
• Asia-Pacific
• China
• Japan
• India
• Vietnam
• South Korea
• Australia
• Thailand
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Turkey
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Two-Wheeler Market.

Available Customizations:

With the given market data, the publisher offers customizations according to the company’s specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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