PUBLISHER: TechSci Research | PRODUCT CODE: 1342688
PUBLISHER: TechSci Research | PRODUCT CODE: 1342688
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Malaysia Two Wheeler market will witness a robust growth during the forecasted period, owing to the rise in demand of electric two wheelers, government incentives, and growing trends of bike riding for adventure and recreational activities.
Due to increased government initiatives to incentivize more people to purchase motorcycles and the increased penetration of two wheelers in the nation relative to four-wheelers, the two-wheeler sector in Malaysia is anticipated to continue seeing significant development. Many Malaysians choose to purchase motorcycles for the comparatively reduced cost of ownership, however there are now more factors beyond cost-savings that influence this decision such as escaping traffic congestion, automatic transmission two wheelers, Improved safety for two wheelers, etc.
The most frequently utilized automobile is a motorcycle. Due to its significant fuel efficiency, economical form of transportation, large engine capacity, and cutting-edge gear technology, the motorcycle has been utilized more frequently than the scooter or moped. Scooters are less adaptable than motorcycles. In terms of aesthetics, motorcycles outsell scooters because today's youth is more concerned with looks and virility. Due to its durability and improved wheel stability to carry large luggage, the motorcycle is also being used by the advent of e-commerce for the purpose of goods' delivery. The demand for consumer goods, including food, beverages, clothing, and electronics, has been growing steadily. E-commerce has also been growing in popularity, as more and more people in the country are turning to online shopping and this is leading to the rise in the last mile delivery services. Overall, this is leading to the rise in the demand of two-wheelers in the country in the forecast years.
As Malaysia's population continues to grow, so does the demand for affordable and convenient modes of transportation. More people are residing in cities as a result of urbanization, which has also increased the number of commuters. Two-wheelers, particularly motorcycles, are an attractive option for commuters as they are affordable, fast, and efficient. The Malaysian government has invested heavily in infrastructure development, including the construction of new roads and highways, which has made it easier for people to travel within and between cities. This has made two-wheelers a more practical mode of transportation, especially in congested urban areas where parking can be a challenge.
Electric two-wheelers are becoming more popular in Malaysia as consumers look for greener and more sustainable modes of transportation. The government has also been promoting the use of electric vehicles by offering incentives and subsidies to both consumers and manufacturers. As a result, the demand for electric two-wheelers is expected to grow in the future.
Two-wheelers are not only used for transportation but also for leisure activities such as touring and exploring the country's scenic landscapes. Malaysia has some of the most beautiful scenic routes, especially in rural areas, and two-wheelers provide an ideal way to experience these routes up-close. Two-wheelers have become an important part of Malaysian culture and are often associated with freedom, independence, and a sense of adventure. Many young people in Malaysia view owning a two-wheeler as a rite of passage and a symbol of their independence.
Safety features such as ABS (Anti-lock Braking System) and CBS (Combi Brake System) are becoming increasingly important to consumers in Malaysia. Manufacturers are now offering these features on their two-wheelers as standard or optional equipment to attract safety-conscious consumers. In addition, the government has also been promoting the use of helmets and other safety equipment to reduce the number of accidents on the roads. Two-wheelers are generally more affordable than four-wheelers, making them a popular choice among price-sensitive consumers.
The Honda affiliate in Malaysia, Boon Siew Honda, has introduced the Honda Vario 125. Scooters like the Vario 125 and Vario 150 are among the most widely used vehicles on the road because of their low cost, simplicity, and utility. These scooters are available in Malaysia and other neighboring Asian nations. With prices starting at RM 7,080 (about $1,583 USD), the Honda Vario 125 is certainly a valuable option in Malaysia. Because of this, it is a desirable model for both new and seasoned motorcycle riders searching for a durable two-wheeler for daily usage. The government and GLC's joint venture to yield and assemble electric motorcycles demonstrates their shared commitment to social and environmental responsibilities while generating green income through carbon trading. In this, emissions are treated as either carbon credits or offsets that can be sold in a carbon market like the voluntary carbon market (Bursa VCM) that will be launched by the end of 2022 by Bursa Securities Malaysia Bhd. With the assistance of University Malaysia Perlis and Motosikal dan Enjin Nasional Sdn Bhd (Modenas), Mimos Berhad has created the first Range Extended Electric Vehicle (RE-EV) in Malaysia (UniMAP).
The Malaysia Two Wheeler market is segmented based on vehicle type, propulsion, by region, and competitional landscape. Based on vehicle type, the market is further fragmented into motorcycle, scooter/mopeds. Based on propulsion, the market is segmented into ICE & electric. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North, South, West & East.
Major companies operating in Malaysia two-wheeler market recorded high sales volume in the 2018 financial year and the trend is likely to continue during the forecast period. List of the major market players include Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Kawasaki Motors Corp., Sanyang Motor Co., Ltd., Harley-Davidson, Inc., Modenas, Suzuki Malaysia Sdn. Bhd., KSR Group, Piaggio & C spa, Triumph Motorcycles Malaysia etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
In this report, Malaysia Two-Wheeler Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Malaysia two-wheeler Market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
(Note: The companies list can be customized based on the client requirements.)