Market Trends of 2 Wheeler Fuel Injection System Industry
Motorcycles Dominating the Market
Motorcycles have grown significantly as a result of factors like rising urbanization, rising disposable incomes, and the need for affordable and effective transportation. Japanese motorcycle manufacturers like Honda, Yamaha, Suzuki, and Kawasaki dominate the market.
On the other hand, rising incomes, government initiatives, and the expansion of infrastructure are some of the primary reasons why people are shifting their focus away from upgrading their older motorcycles and toward purchasing entry-level passenger cars. It demonstrates that the nation is increasing its reliance on the automobile market while gradually shifting to more expensive motorcycle markets featuring larger engines (sports vehicles) and electric vehicles.
The rapid technological advancements in the automobile industry have driven (in a way, forced) the manufacturers to resort to new and upcoming vehicle tech and invest significantly into the research and development of the core design and products. While most of the manufacturers with viable resources for innovation cut, some of the manufacturers tend to stumble at the core design of the vehicles to meet market needs and resort to innovations and strategic partnerships with other players in the market.
This new wave of partnership and collaboration helps the players in the market to execute a controlled sharing of technologies and key information, leading to the overall immense benefit for the market to cater to the demand from the buyers. Consequently, the sub-Saharan region, with its relatively slow technological advancement in the automotive industry, witnessed a surge in the manufacturer partnerships between the automotive manufacturers. For instance,
In July 2022, July 2022: TVS Motor Company announced a premium model with the launch of the industry's first ‘modern-retro’ motorcycle – the TVS RONIN. Designed ground up, the TVS RONIN is a lifestyle statement that takes inspiration from the modern, new-age rider.
In May 2022, TVS Motor Company announced the introduction of limited edition TVS HLX 125 Gold and TVS HLX 150 Gold models in Kenya. According to the company, the two celebrity limited edition models were released to commemorate global sales of over two million units of the TVS HLX series.
The development mentioned above across the globe is likely to witness major growth for the market during the forecast period.
Asia-Pacific is Expected to be the Fastest Growing Region
Asia-Pacific dominates the market, and the region is expected to witness the fastest growth rate during the forecast period.
In Asia-Pacific, the Indian motorcycle market has been the largest in the world since 2016, with the presence of major manufacturers such as Hero, TVs, and Honda. With the social advancement of women and the growing demand for comfort and convenience, the demand for scooters has been continually increasing as they are convenient.
Additionally, the premium price market segment for mid and large-sized motorcycles is also expanding, owing to a growing demand for high-performance and cruiser bikes. The rapid expansion of small and medium-scale industries across the country is likely to create an opportunity for vehicle parts manufacturers.
The Rapid expansion of last-mile delivery through two-wheelers across the region is likely to witness major growth during the forecast period. Two-wheelers are easier to maneuver through traffic and narrow streets and alleys than four-wheeled vehicles, making them a significant advantage in congested urban areas. Additionally, they can be easily customized to meet specific business requirements, such as by adding delivery boxes or racks to transport goods or by modifying the seating to accommodate passengers.
Businesses can save money over time on fuel costs by using two-wheeled vehicles, which typically use less fuel than four-wheeled vehicles. Two-wheeled vehicles can sometimes move faster than four-wheeled vehicles. This is especially important for businesses that need to deliver goods quickly or provide transportation services quickly.
The expansion of two-wheeler rental and sharing services, on the other hand, is likely to witness major growth for the market during the forecast period.
