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Analysis of the Two-wheeler Motorcycle Market in Key ASEAN Countries, Forecast to 2020

  • Report
  • 82 Pages
  • May 2020
  • Region: Asia Pacific
  • Frost & Sullivan
  • ID: 5057619

The Market is Highly Concentrated and is Led By Honda, and this Trend Will Continue Throughout the Forecast Period

In 2019, the key ASEAN countries under discussion in this study - Indonesia, Thailand, and Vietnam - sold a total of 11.5 million units of two-wheeler motorcycles, which was 0.7% lower than the 11.6 million units sold in 2018. The 3 countries have established a cumulative annual production capacity of approximately 21.4 million units. Vietnam is likely to expand its per-annum production capacity from 5.7 million units in 2019 to 6.5 million units in the short term.

Two-wheeler motorcycles are a useful, flexible, and convenient mobility solution in congested cities, including Jakarta, Ho Chi Minh, and Bangkok. In Bangkok, for instance, alleys account for 37% of the road space; this makes for an extremely overcrowded city in which two-wheelers are the vehicle of choice. Two-wheeler motorcycles have also become a dominant mode of transportation in more than 80% of Hanoi’s urban areas. In addition, the delay of the city's first metro will continue to limit the use of public transportation.

All the major ASEAN countries have implemented the Euro III emission standard for newly registered two-wheeler motorcycles. However, no specific emission regulations govern the use of two-wheeler motorcycles (in operation) registered before 2019.

The low engine displacement segment dominates the market. Segments with engine displacement below 125cc accounted for a combined 79.2% share in Indonesia, Thailand, and Vietnam, followed by the 126-250cc and above segments with a share of 19.4% (2019).

Hybrid and electric powertrain jointly accounted for 0.7% and 0.6% in Indonesia, Thailand, and Vietnam, respectively. Vietnam has the highest penetration of electric powertrain, and it sold 60,000 units of electric two-wheeler motorcycles in 2019. These vehicles are popular in Thailand as well, with sales of 67,000 units in the same year.

Rapid economic and income growth from previous years has resulted in saturation of market demand. In addition, the current global economic slowdown, the decline in cross-border trading, and supply chain disruptions due to COVID-19 challenge market growth.

The ASEAN two-wheeler motorcycle market is highly concentrated; it is dominated by Japanese original equipment manufacturers (OEMs), and this trend is likely to continue in future. Honda and Yamaha accounted for a combined 96.4% in 2019. Emerging domestic OEMs, such as PT Gesits Technologies Indonesia, Vietnam’s Vinfast Trading & Production LLC, and Thailand’s Deco Green Energy Co., Ltd., will compete intensely with well-established participants, especially in the electric powertrain space.

Research Scope

The aim of this study is to research and analyze the two-wheeler motorcycle market in key ASEAN countries, including Indonesia, Thailand, and Vietnam. The study presents the market scenario for 2019 and the outlook for 2020.

Research Highlights


  • Provide an overview of the market, including drivers and restraints
  • Offer a summary of total unit shipment
  • Identify key automotive OEMs and their market shares
  • Estimate market size and furnish an actionable set of growth-related recommendations for stakeholders

Key Issues Addressed


  • Which engine displacement segment sees high adoption among the key ASEAN countries?
  • What are the major drivers and restraints to market growth?
  • Who are the key market participants?
  • Which powertrain solution is gaining popularity among customers?
  • What are the key growth recommendations for stakeholders?

Table of Contents

1. Executive Summary
  • Key Findings
  • Market Engineering Measurements - Indonesia
  • Market Engineering Measurements - Vietnam
  • Market Engineering Measurements - Thailand
  • Market Overview
  • Leading Segments and Brands
  • Leading Models


2. Research Scope, Objectives, and Methodology
  • Research Scope
  • Research Aims and Objectives
  • Research Methodology
  • Key Questions this Study will Answer


3. Market Overview
  • ASEAN - Emission Standards
  • ASEAN - Key Regulatory Highlights
  • ASEAN - Sales Breakdown by Key Countries
  • ASEAN - Sales Breakdown by Key Brands
  • ASEAN - Price Comparison of Key Models with Alternative Powertrain
  • ASEAN - Price Comparison of Key Models With and Without ABS Features
  • Case Study - Key Electric Two-Wheeler Motorcycle Models
  • Case Study - Thailand’s Two-Wheeler Motorcycle Models with Additional Features


4. Two-wheeler Motorcycle Market in Indonesia
  • Market Engineering Measurements
  • Market Overview
  • Sales Overview
  • Segment Overview
  • Production Overview
  • Market Growth - Key Advantages and Disadvantages
  • Leading Two-wheeler Motorcycle Models
  • Leading Two-wheeler Motorcycle OEMs
  • Market Trends and Innovation


5. Two-wheeler Motorcycle Market in Vietnam
  • Market Engineering Measurements
  • Market Overview
  • Sales Overview
  • Segment Overview
  • Production Overview
  • Market Growth - Key Advantages and Disadvantages
  • Leading Two-wheeler Motorcycle Models
  • Leading Two-wheeler Motorcycle OEMs
  • Market Trends and Innovation


6. Two-wheeler Motorcycle Market in Thailand
  • Market Engineering Measurements
  • Market Overview
  • Sales Overview
  • Segment Overview
  • Production Overview
  • Market Growth - Key Advantages and Disadvantages
  • Leading Two-wheeler Motorcycle Models
  • Leading Two-wheeler Motorcycle OEMs
  • Market Trends and Innovation


7. Indian Two-wheeler Motorcycle OEMs in ASEAN
  • Local Assembly, Production, and Sales of Key Indian OEMs in ASEAN
  • Leading Indian Two-wheeler Motorcycle OEMs in ASEAN


8. Chinese Two-wheeler Motorcycle OEMs in ASEAN
  • Local Assembly, Production, and Sales of Key Chinese OEMs in ASEAN
  • Leading Chinese Two-wheeler Motorcycle OEMs in ASEAN


9. Growth Opportunities and Companies to Action
  • Growth Opportunity
  • Strategic Imperatives for Success and Growth


10. Conclusions
  • Key Conclusions and Predictions
  • Key Conclusions and Future Outlook
  • The Last Word - 3 Big Predictions
  • Legal Disclaimer


11. Appendix
  • Partial List of Acronyms and Abbreviations Used
  • Market Engineering Methodology
  • List of Exhibits

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Deco Green Energy Co., Ltd.
  • Honda
  • PT Gesits Technologies
  • Vinfast Trading & Production LLC