Looking forward, IMARC Group expects the Latin America two-wheeler market to reach 20.9 Million Units by 2027, exhibiting a CAGR of 14.6% during 2022-2027.
STE R SHERIDAN, WYOMING, UNITED STATES, May 25, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Latin America Two-Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the market reached a volume of 9.1 Million Units in 2021. Two-wheelers are lightweight vehicles that operate and balance on two tires. They include motorcycles, scooters, mopeds and electric two-wheelers. The two wheels are arranged on the same axle and one behind the other. Two-wheelers are manufactured using structural frames, wheels, seats, metallic and non-metallic components, chains, brakes, wheel rims and handlebars that assist the rider in controlling and balancing the vehicle. They are widely used for commuting over short distances and avoiding traffic congestion. In comparison to the four-wheelers, two-wheelers are convenient to maneuver, smaller in size, cost-effective and have higher fuel efficiency.
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The Latin America two-wheeler market is primarily being driven by the emerging trend of personal vehicle ownership, especially among millennials. Two-wheelers are widely adopted to commute due to the low cost of ownership and increasing traffic congestion in urban areas. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) and Bluetooth systems in two-wheelers, are favoring the market growth. These connected vehicles can also be integrated with smartphone applications for location and infotainment services. Other factors, including the increasing expenditure capacities of the consumers, along with the implementation of various government initiatives promoting the adoption of electric two-wheelers, are creating a positive outlook for the market. Looking forward, IMARC Group expects the Latin America two-wheeler market to reach 20.9 Million Units by 2027, exhibiting a CAGR of 14.6% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with 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
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.)
Breakup by Vehicle Type:
Breakup by Fuel Type:
Breakup by Engine Capacity:
Less than 100cc
More than 500cc
Breakup by Technology:
Breakup by Country:
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
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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