Asia-Pacific Two-Wheeler Market By Vehicle Type (Motorcycle, Scooter/Moped), By Propulsion (ICE, EV), By End Use (Personal, Commercial), By Country, By Competition, Opportunities and Forecast, 2020-2030F

Asia-Pacific Two-Wheeler market was valued at USD 70.23 Billion in 2024 and is expected to reach USD 119.55 Billion by 2030 with a CAGR of 9.27% during the forecast period. The Asia-Pacific two-wheeler market is experiencing robust growth, driven by several key factors. The region's rapid urbanization has led to an increased demand for efficient and affordable modes of transport. According to the International Energy Agency (IEA), electric two-wheelers in the Asia-Pacific accounted for over 85% of global e-two-wheeler stock in 2023, led by China, India, and Vietnam.

Two-wheelers are particularly attractive in densely populated cities where traffic congestion is a major concern. Rising disposable income among consumers, especially in emerging economies like India and Southeast Asia, has expanded the market for both premium and entry-level two-wheelers. The affordability, fuel efficiency, and convenience offered by two-wheelers are making them the preferred mode of transport for daily commuting. In addition, the shift towards electric two-wheelers is gaining momentum, driven by the need for more sustainable transportation options in response to environmental concerns and stricter emissions regulations.

A significant trend in the Asia-Pacific two-wheeler market is the growing adoption of electric vehicles (EVs). Governments across the region are introducing policies that support the development of electric mobility, including subsidies for electric two-wheelers, tax incentives, and investments in charging infrastructure. This shift aligns with the global push toward reducing carbon footprints and dependence on fossil fuels. Innovations in battery technology and the reduction in battery prices are also making electric two-wheelers more accessible to a broader range of consumers. As a result, electric scooters and motorcycles are gaining traction, particularly in countries like China and India, where the push for cleaner transportation is intensifying.

Market Drivers:

Urbanization and Population Density

Rapid urbanization in Asia-Pacific has significantly increased the demand for two-wheelers. As cities grow more densely populated, traditional four-wheel vehicles struggle with traffic congestion and limited parking spaces. Two-wheelers, which are compact and nimble, offer an ideal solution for navigating through crowded urban streets. In densely populated countries like India, China, and Southeast Asia, two-wheelers provide a cost-effective and efficient means of transport for daily commuting, especially among younger populations. For instance, In July 2024, China's State Council revealed its expectation for the urbanization rate of the permanent population to approach 70% within the next five years. As of the end of 2023, official statistics indicated that 66.16% of the resident population resided in urban areas.

Rising Disposable Income

As the middle class expands in many parts of Asia-Pacific, disposable incomes are rising, driving consumer spending on personal transportation. With improved economic conditions, more people can afford two-wheelers, which serve as an affordable alternative to private cars. As per the Thai Ministry of Land Transport, Thailand had over 22 million registered motorcycles in 2023, almost three times its number of registered passenger cars. Entry-level motorcycles and scooters are particularly popular, offering a combination of low purchase costs, good fuel efficiency, and practicality. Higher-income levels also allow consumers to consider upgrading to higher-end models, spurring growth in the premium segment.

Key Market Challenges

Competition and Market Saturation

The two-wheeler market in Asia-Pacific is highly competitive, with numerous established players, including both international and local brands. As the market matures, competition is expected to intensify, particularly in the electric two-wheeler segment. New entrants and established brands alike are vying for market share, which could lead to price wars and reduced profit margins. Differentiating products through technology, design, and brand loyalty will become critical for manufacturers looking to sustain growth in this crowded market.

Key Market Trends

Increasing Popularity of Electric Two-Wheelers

Across the Asia-Pacific, the demand for electric two-wheelers is on the rise, driven by a mix of government policies, environmental concerns, and technological advancements. While electric motorcycles and scooters represent a smaller portion of the overall market, their growth rate is accelerating. In countries like China, India, and Japan, the government is promoting electric mobility through subsidies, tax incentives, and infrastructure investments. Consumers are also increasingly drawn to electric two-wheelers due to lower operating costs, such as fuel and maintenance, as well as the growing network of charging stations. For instance, in March 2024, the Ministry of Industry of Indonesia reported a significant rise in the number of electric vehicles (EVs) within the country during 2023. Notably, the quantity of two-wheeled electric vehicles experienced a remarkable increase of 262 percent, climbing from 17,000 units in 2022 to 62,000 units in 2023. This surge can be largely attributed to government support initiatives aimed at facilitating the purchase of two-wheeled EVs.

Key Market Players

• Honda Motor Co., Ltd
• Hero MotoCorp Ltd
• Yadea Technology Group Co., Ltd.
• Yamaha Motor Co., Ltd.
• TVS Motor Company
• Bajaj Auto Ltd.
• Suzuki Motor Corporation
• Jiangmen Dachangjiang Group Co., Ltd.
• Kawasaki Motors, Ltd
• ZHEJIANG CFMOTO POWER CO., LTD.

Report Scope:

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

Asia-Pacific Two-Wheeler Market, By Vehicle Type:

• Motorcycle
• Scooter/Moped

Asia-Pacific Two-Wheeler Market, By Propulsion:

• Internal Combustion Engine
• Electric Vehicles

Asia-Pacific Two-Wheeler Market, By End Use:

• Personal
• Commercial

Asia-Pacific Two-Wheeler Market, By Country:

• China
• India
• Japan
• South Korea
• Thailand
• Indonesia
• Australia
• Rest of Asia Pacific

Competitive Landscape

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

Available Customizations:

Asia-Pacific Two-Wheeler Market report 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:

Company Information

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