Growing prevalence of personal vehicle, scooters, motorcycles & mopeds, ownership is among the key factors stimulating the two-wheeler market in Latin America.
BROOKLYN, NEW YORK, UNITED STATES, April 10, 2023 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “ – : , , , , -”, 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.
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.
The growing prevalence of personal vehicle ownership, especially among the millennial population, is among the key factors stimulating the two-wheeler market in Latin America. 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.
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
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.)
The report has categorized the market based on vehicle type, fuel type, engine capacity and technology.
Breakup by Vehicle Type:
Breakup by Fuel Type:
Breakup by Engine Capacity:
• Less than 100cc
• More than 500cc
Breakup by Technology:
Breakup by Country:
• 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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Article originally published on www.einpresswire.com as Latin America Two-Wheeler Market Industry Forecast Size 23.7 Million Units & CAGR 14.2% During 2023-2028
originally published at HUMAN RIGHTS - USA DAILY NEWS 24