From a burgeoning global market racing past $180 billion to India's production lines humming with over 20 million units a year, the two-wheeler industry is shifting gears into an electrifying and expansive future.
Key Takeaways
- In 2023, the global two-wheeler market was valued at USD 180.47 billion and is projected to reach USD 263.47 billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030
- India's two-wheeler market size stood at 17.27 million units in FY23, reflecting a 10% year-on-year growth from FY22
- The Asia-Pacific region dominated the global two-wheeler market with a 62.5% share in 2023, driven by high demand in India and China
- In FY23, India's two-wheeler production reached 20.48 million units, up 18% YoY
- Hero MotoCorp produced 5.56 million two-wheelers in FY23
- Bajaj Auto manufactured 4.02 million two-wheelers in FY23 across all plants
- In FY23, India's domestic two-wheeler sales were 17.27 million units, with motorcycles at 80%
- Hero MotoCorp sold 5.56 million two-wheelers domestically in FY23
- Honda sold 4.22 million scooters and motorcycles in India FY23
- India's two-wheeler exports reached 4.07 million units in FY23, up 28% YoY
- Bajaj Auto exported 2.34 million two-wheelers in FY23 to 79 countries
- Hero MotoCorp exports grew 35% to 0.45 million units in FY23
- Electric two-wheeler sales projected to reach 10 million units globally by 2030
- 75% of Indian two-wheeler buyers prefer fuel-injected models in 2023
- ABS adoption in premium two-wheelers in India reached 85% in FY23
The global two-wheeler market is growing strongly, led by Asia-Pacific demand and a rising electric segment.
Exports & International Trade
1India's two-wheeler exports reached 4.07 million units in FY23, up 28% YoY
Verified2Bajaj Auto exported 2.34 million two-wheelers in FY23 to 79 countries
Verified3Hero MotoCorp exports grew 35% to 0.45 million units in FY23
Verified4TVS Motor exported 0.81 million two-wheelers in FY23, 28% growth
Directional5Royal Enfield exports hit 0.28 million units in FY23 to 60+ countries
Single source6Honda Motorcycle India exports 0.97 million units in FY23
Verified7Top export destination for Indian two-wheelers: Nigeria with 0.32 million units FY23
Verified8US imported 0.25 million two-wheelers from India in 2023
Verified9Latin America received 1.2 million Indian two-wheeler exports in FY23
Directional10Africa imported 1.5 million two-wheelers from India FY23
Single source11Colombia imported 0.18 million units from Hero in 2023
Verified12Bangladesh two-wheeler imports from India 0.22 million units FY23
Verified13Nepal imports 0.15 million Indian two-wheelers annually
Verified14UK two-wheeler imports from India grew 22% to 0.08 million units in 2023
Directional15Mexico imported 0.12 million Bajaj two-wheelers in 2023
Single source16Philippines imports from India 0.10 million units FY23
Verified17UAE received 0.09 million Indian two-wheelers in 2023
Verified18Argentina imports 0.11 million units from Bajaj FY23
Verified19Global two-wheeler trade value USD 25 billion in 2022
Directional20Yamaha exports from India 0.32 million units in FY23
Single source21Suzuki exports from India 0.18 million units FY23
Verified22Middle East exports from India 0.35 million two-wheelers FY23
Verified23Europe imports 0.15 million Indian two-wheelers annually
Verified24Sri Lanka imports 0.08 million units from India FY23
Directional25Kenya top African destination with 0.25 million imports FY23
Single source26Peru imports 0.09 million Bajaj units 2023
Verified27South Africa imports 0.12 million two-wheelers FY23
Verified28Exports contributed 19% to India's two-wheeler production in FY23
VerifiedExports & International Trade Interpretation
India's two-wheelers are conquering the world one kick-start at a time, proving that while we may debate traffic at home, our bikes have seamlessly become the trusted workhorses and joyful rides from the bustling streets of Lagos to the mountain passes of Colombia.
Market Size & Growth
1In 2023, the global two-wheeler market was valued at USD 180.47 billion and is projected to reach USD 263.47 billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030
Verified2India's two-wheeler market size stood at 17.27 million units in FY23, reflecting a 10% year-on-year growth from FY22
Verified3The Asia-Pacific region dominated the global two-wheeler market with a 62.5% share in 2023, driven by high demand in India and China
Verified4Electric two-wheeler segment is expected to grow at a CAGR of 11.2% from 2023 to 2030, reaching USD 65.6 billion globally
Directional5China's two-wheeler market volume reached 15.8 million units in 2022, accounting for 35% of global sales
Single source6The premium two-wheeler segment (above 150cc) in India grew by 18% in 2023 to 1.2 million units
Verified7Global two-wheeler production reached 58.2 million units in 2022, with a projected CAGR of 4.8% till 2028
Verified8Indonesia's two-wheeler market expanded to 5.4 million units in 2023, up 6% from previous year
Verified9The scooter segment held 42% of the global two-wheeler market share in 2023
Directional10India's two-wheeler industry contributed 80% of total automobile production in FY23
Single source11Global two-wheeler aftermarket size was USD 52.3 billion in 2023, expected to grow at 5.2% CAGR
Verified12Vietnam's two-wheeler sales hit 2.9 million units in 2023, with 7% growth
Verified13The mid-size motorcycle segment (125-250cc) is forecasted to grow at 6.1% CAGR globally till 2030
Verified14Thailand's two-wheeler market volume was 1.7 million units in 2023
Directional15Electric scooters accounted for 15% of two-wheeler sales in Europe in 2023
Single source16Global two-wheeler market revenue projected to hit EUR 140 billion by 2027
Verified17Brazil's two-wheeler production reached 1.3 million units in 2023, up 12%
Verified18The women's two-wheeler segment in India grew 25% YoY to 4.5 million units in FY23
Verified19Southeast Asia two-wheeler market expected to grow at 5.3% CAGR to 2030
Directional20US two-wheeler market size was USD 8.5 billion in 2023, CAGR 4.2% projected
Single source21Hero MotoCorp held 31% market share in India's two-wheeler segment in FY23
Verified22Global motorcycle market to reach 64 million units by 2028, CAGR 4.5%
Verified23Philippines two-wheeler sales 1.6 million units in 2023
Verified24Latin America two-wheeler market CAGR 6.8% from 2023-2030
Directional25Bajaj Auto's market share in India was 10.5% for two-wheelers in FY23
Single source26Africa two-wheeler market volume to grow 7.2% CAGR till 2030
Verified27TVS Motor's share reached 18% in Indian two-wheeler market FY23
Verified28Europe two-wheeler market valued at USD 15.2 billion in 2023
Verified29Middle East two-wheeler market to grow at 4.9% CAGR to 2030
Directional30Royal Enfield's premium bike sales grew 45% to 0.9 million units globally in FY23
Single sourceMarket Size & Growth Interpretation
The world is running on two wheels, with Asia firmly gripping the handlebars as the market accelerates into an electric, premium, and increasingly diverse future, proving that simplicity often rides circles around complexity.
Production & Manufacturing
1In FY23, India's two-wheeler production reached 20.48 million units, up 18% YoY
Verified2Hero MotoCorp produced 5.56 million two-wheelers in FY23
Verified3Bajaj Auto manufactured 4.02 million two-wheelers in FY23 across all plants
Verified4TVS Motor produced 3.17 million two-wheelers in FY23, with 40% from Hosur plant
Directional5Honda Motorcycle & Scooter India produced 5.19 million units in FY23
Single source6Global two-wheeler production capacity utilization was 72% in 2022
Verified7China's two-wheeler production hit 17.2 million units in 2022, led by Lifan and Zongshen
Verified8Yamaha Motor produced 4.8 million motorcycles globally in 2023
Verified9Suzuki Motorcycle India output was 2.05 million units in FY23
Directional10Piaggio Group's two-wheeler production reached 0.45 million units in 2023, mainly Vespa scooters
Single source11India's two-wheeler OEMs invested INR 25,000 crore in capacity expansion in 2023
Verified12Kawasaki Heavy Industries produced 0.52 million motorcycles in FY23
Verified13Indonesia's two-wheeler production was 6.2 million units in 2023, dominated by Honda and Yamaha
Verified14BMW Motorrad manufactured 0.19 million units in 2023, up 11% YoY
Directional15Thailand produced 3.1 million two-wheelers in 2023
Single source16Royal Enfield's production capacity expanded to 1 million units annually by 2023
Verified17Vietnam's two-wheeler production reached 3.1 million units in 2023
Verified18Harley-Davidson produced 0.17 million motorcycles in 2023
Verified19Mahindra Two Wheelers output was 0.12 million units in FY23
Directional20Global two-wheeler engine production was 55 million units in 2022
Single source21Ducati produced 0.06 million motorcycles in 2023
Verified22Brazil two-wheeler production 1.4 million units in 2023
Verified23KTM AG output 0.24 million units in 2023
Verified24India's ancillary industry for two-wheelers employs 1.2 million people in 2023
Directional25Triumph Motorcycles produced 0.08 million units globally in FY23
Single source26US two-wheeler production was 0.65 million units in 2023
Verified27Hero's Guadalajara plant in Colombia produced 0.1 million units in 2023
Verified28Bajaj's Pantnagar plant output 2.1 million two-wheelers in FY23
VerifiedProduction & Manufacturing Interpretation
Despite the global two-wheeler stage boasting an impressive cast of high-performance and luxury marques, the plot—much like a bustling Indian market road—is utterly dominated by a few colossal domestic heroes who are investing heavily to ensure their production juggernauts keep the world's wheels turning.
Sales & Domestic Market
1In FY23, India's domestic two-wheeler sales were 17.27 million units, with motorcycles at 80%
Verified2Hero MotoCorp sold 5.56 million two-wheelers domestically in FY23
Verified3Honda sold 4.22 million scooters and motorcycles in India FY23
Verified4TVS Motor domestic sales reached 2.89 million units in FY23, up 20% YoY
Directional5Bajaj Auto domestic two-wheeler sales 1.95 million units in FY23
Single source6Rural India accounted for 55% of two-wheeler sales in FY23
Verified7Scooter sales in India hit 6.1 million units in FY23, 35% market share
Verified8Entry-level motorcycles (75-110cc) sold 8.9 million units in India FY23
Verified9Premium motorcycle sales in India reached 0.96 million units in FY23, up 38%
Directional10Women's two-wheeler sales in India were 4.67 million units in FY23
Single source11Electric two-wheeler domestic sales in India surged to 0.95 million units in FY23
Verified12Dealer network for two-wheelers in India exceeds 50,000 outlets in 2023
Verified13Online two-wheeler sales in India grew 40% to INR 15,000 crore in FY23
Verified14Motorcycle sales in China domestic market 13.5 million units in 2022
Directional15Indonesia domestic two-wheeler sales 5.3 million units in 2023
Single source16Urban areas contributed 45% to India's two-wheeler sales in FY23
Verified17Yamaha India sold 1.68 million units domestically in FY23
Verified18Royal Enfield domestic sales 0.85 million units in FY23
Verified19Suzuki domestic sales 1.87 million units in India FY23
Directional20Festival season sales boosted two-wheeler dispatches by 25% in Q4 FY23
Single source21Used two-wheeler market in India valued at INR 45,000 crore in FY23
Verified22Maharashtra led state-wise two-wheeler sales with 2.1 million units in FY23
Verified23Uttar Pradesh two-wheeler registrations 2.0 million units in FY23
Verified24Karnataka sales 1.3 million two-wheelers in FY23
Directional25Tamil Nadu two-wheeler sales 1.7 million units FY23
Single source26Delhi-NCR region sales 0.8 million two-wheelers FY23
Verified27Bihar state recorded 1.1 million two-wheeler sales FY23
Verified28Gujarat two-wheeler sales 1.0 million units FY23
Verified29West Bengal sales 0.9 million two-wheelers FY23
Directional30Andhra Pradesh two-wheeler sales 0.95 million units FY23
Single source31Rajasthan sales 0.85 million two-wheelers FY23
VerifiedSales & Domestic Market Interpretation
Despite Hero MotoCorp's lead, the Indian two-wheeler market is a roaring, diverse beast where rural roads are ruled by entry-level motorcycles, city streets are increasingly shared by women riders and electric vehicles, and the entire country seemingly agrees that the best way to celebrate a festival is to buy a new bike.
Trends & Innovations
1Electric two-wheeler sales projected to reach 10 million units globally by 2030
Verified275% of Indian two-wheeler buyers prefer fuel-injected models in 2023
Verified3ABS adoption in premium two-wheelers in India reached 85% in FY23
Verified4Women buyers increased to 28% of total two-wheeler purchases in India FY23
Directional5Average age of two-wheeler buyer in India dropped to 27 years in 2023
Single source6Scooter penetration rose to 38% in urban India sales FY23
Verified740% of new two-wheeler sales in India financed via loans in 2023
Verified8Bluetooth-connected two-wheelers sales up 150% YoY in premium segment 2023
Verified9Emission BS-VI compliant models 100% of sales in India since 2020
Directional10Rental two-wheeler market in India grew to USD 500 million in 2023
Single source1165% consumers prefer 100-125cc for daily commute in India 2023 survey
Verified12Subscription models for two-wheelers launched by 5 OEMs in India 2023
Verified13Fuel efficiency over 60 kmpl demanded by 70% buyers in India
Verified14Adventure touring bikes sales up 50% globally in 2023
Directional1555% two-wheeler owners use ride-sharing apps daily in urban India
Single source16Customization demand rose 30% in aftermarket two-wheeler parts 2023
Verified17Youth under 30 years account for 62% of two-wheeler purchases globally
Verified18LED lighting standard in 95% new two-wheelers sold worldwide 2023
Verified19Digital instrument clusters in 40% premium two-wheelers India FY23
Directional20Sustainability concerns drive 25% buyers to electric options in urban areas
Single source21Gearless scooters preferred by 80% female buyers in India 2023
Verified22Navigation-integrated helmets sales up 200% in 2023
Verified2350% rise in maxi-scooter sales in Europe 2023
Verified24Online reviews influence 70% two-wheeler purchase decisions India
Directional25Hydrogen two-wheeler prototypes tested by 3 OEMs in 2023
Single source2635% growth in adventure bike accessories market 2023
Verified27Voice-assisted controls in 15% new premium models 2023
Verified28Shared mobility two-wheelers fleet reached 1 million globally 2023
Verified2945% buyers prioritize safety features like traction control 2023 survey
Directional30Retro-styled motorcycles sales up 28% in India FY23
Single sourceTrends & Innovations Interpretation
The electric future is being shaped by a tech-savvy, safety-conscious, and surprisingly young urban rider, who demands their connected, efficient scooter to be as stylish as it is sensible.
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