IMARC Group, a leading market research company, has recently released a report titled “Latin America Two-Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Latin America two-wheeler market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Latin America Two-Wheeler Market?
The Latin America two-wheeler market size reached 10.6 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 23.7 million Units by 2028, exhibiting a growth rate (CAGR) of 14.2% during 2023-2028.
What is Two-Wheeler?
Two-wheelers include scooters, motorcycles, and mopeds. They vary from one another based on different criteria, including long-distance travel, commuting, cruising, and sports, such as racing and off-road riding. Two-wheelers aid in easy manoeuvring through congested roads, lower carbon emissions, offer higher fuel efficiency, and are an economical mode of transportation compared to three or four-wheeled vehicles. As a result, they are gaining prominence as a versatile mode of transportation across the region.
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What are the Growth Prospects and Trends in the Latin America Two-Wheeler Industry?
The growing prevalence of personal vehicle ownership, especially among the millennial population, is among the key factors stimulating the Latin America two-wheeler market. Moreover, the increasing number of female commuters and the launch of specialized vehicles that cater to the preferences of the women population by regional manufacturers are acting as significant growth-inducing factors. Besides this, the rising awareness among consumers regarding safety and security while driving and the growing number of road accidents are positively influencing the market growth. Furthermore, the inflating investments in improving the road infrastructure and promoting the adoption of electric and hybrid two-wheelers by government bodies are also propelling the regional market. Apart from this, the increasing advancement in technology and design has led to the introduction of vehicles that cover short distances and are fuel effective, which is further fuelling the market growth. Additionally, the rising urbanization levels, improving living standards, and the inflating disposable income levels are also driving the regional market. In addition to this, the expanding travel and tourism sector has led to the emergence of bike rental services, which is anticipated to fuel the Latin America two-wheeler market over the forecasted period.
Who are the Key Players Operating in the Latin America Two-Wheeler Market?
The competitive landscape of the industry has also been examined with some of the key players.
- Bajaj Auto Limited (Bajaj Group)
- Dafra Motos (Itavema S/A)
- Honda de México S.A. de C.V. (The Honda Motor Company Ltd.)
- Kawasaki Motors Manufacturing Corp. U.S.A. (Kawasaki Heavy Industries, Ltd.)
- Lifan Industry (Group) Co. Ltd
- Motomel S.A.
- Motor Uno S A S
- Shineray Do Brasil SA
- Suzuki Motor Corporation
- TVS Motor México (TVS Motor Company Limited)
- Wanxin Group International
- Yamaha Motor de México SA de CV (Yamaha Motor Co. Ltd.)
- Zanella Hnos & Cia SACIFI.
- Zongshen Automobile Industry Manufacturing Co. Ltd. (Zongshen Industry Group Co. Ltd.)
What is Included in Market Segmentation?
The report has categorized the market based on vehicle type, fuel type, engine capacity and technology.
Breakup by Vehicle Type:
- Motorcycle
- Scooter
- Moped
Analysed by Fuel Type:
- Gasoline
- Electric
Based on Engine Capacity:
- Less than 100cc
- 100-125cc
- 126-250cc
- 250-500cc
- More than 500cc
On Basis of Technology:
- Manual
- Automatic
Countries Covered:
- Brazil
- Mexico
- Colombia
- Argentina
- Peru
- Ecuador
- Chile
- Others
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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