The 2-wheeler or motorbike or motorcycle is also an important mean of transport in the low-income class, as it is cheaper than a car. There are various models and types used for different purposes, such as scooters, sports bikes, heavy bikes, dirt bikes, and moped.
Hildebrand & Wolfmüller is considered to be the first series of motorcycles, that was started in 1894. Since then, the motorcycles have been going through continuous development, and now there are different types of motorcycles used around the world.
Same as the electric cars there are also electric bikes, known as e-bikes, which are gaining attraction in various countries due to its environment-friendly structure.
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Market Size of two-Wheeler
The total global market size of motorcycles (2- wheelers) reached around 62 million units in 2018, which increase from 1.8% compared to 2017. The global motorcycles market size in value terms is projected to reach US$ 120 billion by 2025 from US$ 84 billion between in 2018.
Analysis of two-Wheeler Market
The Asia Pacific accounts for the largest market value as compared to other regions, and is mainly dominated by India. Nearly 21 million motorcycles were sold in India in 2018.
China is also one of the top markets for 2-wheelers, though the sales declined in the past few years. In 2018, Chinese 2-wheelers sales decreased by 9.8% to 15.4 million, while 2019 also proved not a good year for motorcycles in China. The Asia Pacific is followed by Europe and South America.
Some of the main driving factors behind the growth in the motorcycles market are the large middle-class population, affordable price, environment-friendly due to lower emissions, fuel-efficient, and the most important factor is the increasing demand for e-bikes. The e-bikes are also expected to have a larger market share in future as compared to other motorbikes.