Key players shaping the global two-wheeler market

Leading companies like Honda, Hero MotoCorp, Bajaj, and Yamaha must focus on R&D, technological upgrades, premium branding, and global expansion to sustain leadership. As the industry shifts toward electric mobility, manufacturers must adapt their strategies to stay competitive, redefining their global roles and positioning.

The global two-wheeler landscape

The world is looking at affordable mobility and rapid urbanization is fueling the expansion of the global two-wheeler market. The competition is becoming fierce, with electric models accelerating growth, driven by technology, innovation and government incentives. While accurate country wise data is difficult to gather and collate, it’s estimated that in 2024, the global 2-wheeler market was around USD 290 billion. The countries with the largest sales included China, India, Indonesia, Vietnam, Thailand, Philippines, Brazill, Italy, Taiwan and Pakistan, followed by Malaysia, Colombia, Mexico, Argentina, USA, etc. Most of these countries have equally large production facilities with the total global two-wheeler production being estimated to be around 60- 65 million units. The major manufacturing hubs are India, China, Indonesia, Vietnam, Japan, Thailand, Philippines, Brazil etc. followed by Nigeria, USA, Taiwan, Malaysia, Colombia, Mexico, Italy, Argentina etc. 

The sales distribution and demand rankings for 2024 (based on data collected from multiple sources and normalized through discussions with our global partners) are represented below:

Challenges hindering growth

Three major challenges for EV two-wheelers today are (a) Battery Technology with the race for lighter, more affordable, and longer-range batteries; (b) Charging Infrastructure network is still weak and remains a major roadblock, though investing in fast-charging networks is happening now; and (c) Competitive Pressures brought by the influx of new players are driving price wars, impacting profitability.

Strategic imperatives

Road ahead and other strategic imperatives for industry players include: 

• Doubling down on EVs: Accelerated investments in battery R&D, charging networks and electric vehicle production are critical to staying ahead. 
• Scaling the premium segment: Not only in numbers but also in the premium and performance categories to enhance profitability. 
• Global brand reinforcement: A strong brand presence in international markets, backed by targeted marketing and product differentiation, is essential for sustained global relevance. 
• Strengthening leadership in emerging markets: Localized production, deep market penetration and region-specific product offerings will be the key to long-term dominance in Africa, Latin America and Southeast Asia.
• Talent: The successful companies still lack focus on building a feet-on-the-ground global multi-market sales and marketing leadership talent that’s constantly in touch with the consumers’ changing expectations and preferences and can guide product innovations and features in real time.

Conclusions

In conclusion, one can say that the leadership of the two-wheeler market will rest with those who will enhance their ability to maintain focus, develop technology and management leadership and rapidly implement strategies based on consumer preferences and needs.