Motorcycles, scooters and mopeds are all two-wheeler motor vehicles which can transport upto two people. The global motorcycles, scooters and mopeds market is estimated to be currently valued at USD $50,000 million, in the year 2019. It is expected to grow at a CAGR of 1% and reach the valuation of USD $52,500 million by year 2024. The falling price of motorcycles and two-wheelers are driving increasing growth in this market space. Other growth drivers are – the increase in road congestion and low carbon footprint in comparison to four wheelers.
The global motorcycles, scooters and mopeds market growth may also be impeded due to a variety of concerns, foremost of which are government policies that restrict two-wheeler usage. In our market report for the global motorcycles, scooters and mopeds market, we will be studying the market with respect to certain segments. These segments will be based on product type, application and region. We will also be devoting a separate section to study the regional penetration of this market and another, to discuss latest industry related news.
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We have already discussed the growth drivers and roadblocks to the global motorcycles, scooters and mopeds market. Later on, we will be discussing the regional area with the highest market penetration and the fastest CAGR growth. If you are interested in learning about the conditions of the global motorcycles, scooters and mopeds market, our report will help you with researched information and studied insight. Do read on below for a comprehensive report on the market growth that is expected from the global two-wheeler market space between 2019-2024.
As discussed above, we divide the global motorcycles, scooters and mopeds market into various segments for a better understanding of each, in this report. The different segments are based on product type, application and region. In terms of product type, the market can be segmented into motorcycles, scooters and mopeds. With respect to product application, the global motorcycles, scooters and mopeds market can be divided into residential, commercial and others. Lastly, with respect to region, the market can be segmented into the geographical areas of Asia Pacific, the Middle East, Europe and North – South America. We will be studying the regional segment for this market in more depth below.
The global motorycles, scooters and mopeds market is most prominent in India and other Far Eastern regions of the Asia Pacific. Infact, the Asia Pacific region has also been consistently witnessing the fastest growth in this market space. India, itself, accounts for 34.72% sales in the two-wheeler vehicle segment. It is also the largest supplier of motorcycles. Other geographical regions of Asia Pacific follow in India’s footsteps, accounting for maximum market dominance after India. The traffic conditions in India and the growing environmental concerns have attributed to this popularity of motorcycles, scooters and mopeds in the region. Favorable governmental policies thus far have also contributed to the flourishing of this market space here.
Market Drivers and Constraints
The global Motorcycles, Scooters and Mopeds market has been studied for various drivers and constraints that has influenced the functioning of the market over the estimate period of 2019 to 2025. It has explored various key dynamics that hold a solid influence over the Motorcycles, Scooters and Mopeds market. This report has studied the value of the product or service, volume trends, and the pricing history of the same product or service. In addition, several potential growth factors, restraints, and opportunities are also studied for gaining a deeper understanding of the landscape of the Motorcycles, Scooters and Mopeds market.
Latest industry news
Key market players functioning in the global motorcycles, scooters and mopeds market sector continue to come up with product innovations and company acquisition/mergers to grow their individual market share. The market is expected to grow globally due to the rising environmental consciousness among people and the increase in road traffic congestion worldwide.
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