Market Size of ASEAN 2-Wheeler Rental Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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ASEAN Two Wheeler Rental Market Analysis
The ASEAN 2-wheeler Rental Market is anticipated to register a CAGR of about 4.8% during the forecast period (2020 - 2025).
Consumers are unwilling to invest hugely in commodities which are used for only a brief period. As a result, the Automotive Rental industry on the rise. With hassle-free, low maintenance, and cheap pricing, 2-Wheeler renting is also becoming popular in the ASEAN markets. Also, 2-wheelers have a leaner volume, which significantly reduces traffic congestion, while which is significant to the overcrowded cities in the ASEAN region.
Various factors, including population rise along with growth in the economy, are making the ASEAN counties the fastest and also an attractive economic market to the investors. The ASEAN region includes already developed countries like Singapore, Thailand, Malaysia, Indonesia, while also developing countries with low per capita revenue like Vietnam and the Philippines, which are also to see a massive demand for 2-Wheels Rentals.
Rise of electric 2-wheeler providing the same utility any two-wheelers with an added benefit of reduced ill-effects on the environment is also becoming popular amongst the developing ASEAN countries.
