Emphasis on Propulsion Type (ICE Vehicles {Below 50 cc, 100-250 cc, and Above 250 cc})and Electric Vehicles); Vehicle Type (Motorcycle and Scooters) and Region/Country
The Southeast Asia Two-Wheeler Market was valued at USD 30.12 Billion and is expected to grow at a strong CAGR of around 3.03% during the forecast period (2023-2030) owing to rising air traffic worldwide and safety concerns.
The public transportation infrastructure in numerous Southeast Asian cities is currently in the process of development, resulting in gaps in coverage and limited connectivity to specific areas. Two-wheelers play a crucial role as a means of last-mile connectivity, bridging the distance between public transport hubs and final destinations. In nations such as Thailand and the Philippines, motorcycle taxis, referred to as “habal-habal” or “motorcycle taxis,” are a popular option for short-distance travel, particularly in locations where traditional taxis or ride-sharing services may not be easily accessible. This dependence on two-wheelers for last-mile connectivity fuels the demand for motorcycles and scooters in the region. Furthermore, the rise of food delivery services and e-commerce platforms has further boosted the demand for two-wheelers in Southeast Asia. Delivery riders rely on motorcycles and scooters to fulfill orders quickly and efficiently, contributing to the overall growth of the market.
Some of the Major Players
Some of the major players operating in the market include PT Astra Honda Motor, Yamaha Indonesia Motor Mfg., Thai Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Yamaha Motor Vietnam Co., Ltd., Kawasaki Motors, Ltd., Zero Motorcycles Inc., Hero Electric Vehicles Pvt. Ltd, Vmoto Ltd., and AIMA Technology Group Co. Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Favorable Government Policies and Incentives
Governments in nations such as Indonesia, Thailand, Vietnam, and Malaysia have implemented a range of incentives and regulations to promote the adoption of electric two-wheelers. These measures encompass tax breaks, subsidies, and waivers for registration fees and road taxes. For example, the Thai government provides subsidies of up to 18,000 baht (around USD 500) for the purchase of electric motorcycles. Similarly, Indonesia has established a goal of manufacturing 2.5 million electric motorcycles annually by 2035.Furthermore, the rising recognition of the ecological consequences caused by conventional gasoline-powered automobiles has led consumers in Southeast Asia to become more mindful of their carbon footprint. Electric two-wheelers present a sustainable option, as they produce no direct emissions and entail considerably lower operational expenses in comparison to their gasoline counterparts. This increasing environmental awareness, especially among younger age groups, is fueling the desire for electric two-wheelers.
Indonesian market has dominated the two-wheeler market and is expected to behave in the same fashion due to the large consumer base. As Indonesia is the world’s fourth-most-populous country in the world with 279 million people residing in the country. Additionally, due to the increasing demand for economic transportation mode and improved road infrastructure the demand for two-wheelers has increased in the last couple of years. For instance, according to the report published by “The Association of Indonesia Motorcycle Industry (AISI)” a total of 521,424 units sold in the March 2021 which increased to 592,658 units sold in January 2024. Additionally, the Indonesian government tightening its monetary policy, making financing for motorcycle purchases harder. Furthermore, mobility service providers growing rapidly in Indonesia like Gojek, Tokopedia and Bluebird, which accelerated the demand in motorcycles and passenger cars parallelly over the past decade.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Southeast Asia Two-wheeler Market Revenue, 2020-2030f.
6. Market Insights By Propulsion Type
7. Market Insights By Vehicle Type
8. Market Insights By Country
9. Southeast Asia Two-wheeler Market Dynamics
10. Southeast Asia Two-wheeler Market Opportunities
11. Southeast Asia Two-wheeler Market Trends
12. Demand And Supply-side Analysis
13. Value Chain Analysis
14. Pricing Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Analyzing the historical market, estimating the current market, and forecasting the future market of the Southeast Asia Two-Wheeler market were the three major steps undertaken to create and analyze the adoption of two-wheelers in major regions in Southeast Asia. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the southeast Asia two-wheeler. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Southeast Asia Two-Wheeler market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the southeast Asia two-wheeler market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report such as propulsion type, vehicle type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the southeast Asia two-wheeler market. Further, we conducted factor analysis using dependent and independent variables such propulsion type, and vehicle type of the southeast Asia two-wheeler market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Southeast Asia Two-Wheeler market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Southeast Asia Two-Wheeler market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Southeast Asia Two-Wheeler market, data was split into several segments & sub-segments after studying various parameters and trends in the area’s propulsion type and vehicle type in the southeast Asia two-wheeler.
The current & future market trends of the Southeast Asia Two-Wheeler market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the Southeast Asia Two-Wheeler market?
Q2: What are the driving factors for the growth of the Southeast Asia Two-Wheeler Market?
Q3: Which segment has the largest share of the Southeast Asia Two-Wheeler market by propulsion type?
Q4: What are the emerging technologies and trends in the Southeast Asia Two-Wheeler market?
Q5: Which country will dominate the Southeast Asia Two-Wheeler market?
Q6: Who are the key players operating in the Southeast Asia Two-Wheeler market?
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