The Two-wheeler industry is one of the biggest industries across the world. In 2021, the total sales were $58 million. This industry is set to record the highest sales by the end of 2023. The electric two-wheeler market will increase the sales of the global two-wheelers. By the end of this decade, the electric vehicle market will be estimated to reach around $50 million. However, this market has been disrupted twice in recent times. First, Covid-19 had a huge impact on the market.
Now, the other time, the war between Ukraine and Russia was a hurdle for the motorcycle industry. This article will discuss the country with the highest sales of two-wheelers. Southeast Asian countries have a huge share in the global market of motorcycles. In this region, there are mostly developing countries. These countries are filled with middle-class families. Motorcycles are the best option for traveling and utility purposes with a small load on the pockets.
Let’s discuss the country which buys the most number of bikes.
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Which country buys the most number of bikes?
The world’s largest two-wheeler market is in India. The Indian two-wheeler market stands at 15.2 million units in 2021. It is expected that this market will reach 42 million units by 2027. In India, most people purchase motorcycles and scooters for their daily chores. With the current rise of electric vehicles, the two-wheeler industry has also seen a boom with electric bikes and scooters.
Many big companies like Honda, TVs, and Ola are already in the race for the two-wheeler electric market. Also, they are producing good numbers. The main reason for the high sales record of two-wheelers in India is the affordability of these vehicles. Additionally, Two-wheelers offer great fuel efficiency, better mobility, and amazing features. The major brands in the two-wheeler market of India are Bajaj, Honda, Hero, Royal Enfield, TVS, Suzuki, and many more.
Impact of Covid-19 and Russia-Ukraine War on the Indian Two-wheeler market
Covid-19 played a major role in the decline of sales of two-wheelers. The uncertainties of Covid-19 disrupted the overall global market. Overall, two-wheeler sales in the Indian market fell by 30% after the second wave of Covid-19 in India. Lockdowns were implemented, which led to a stop in the production of bikes and scooters. Therefore, it leads to a decline in sales.
On the other hand, the war between Ukraine and Russia also hugely impacted India’s overall automobile industry. Russia was one of the largest exporters of earth metals. And Ukraine was a leading producer of Neon Gas. Both the countries were key exporters of automobile parts. The shortage of these parts led to a decline in production. Eventually, this leads to a fall in sales.
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After all, this industry is on the rise again and is back on track. With increasing numbers, we expect a huge uphill for the two-wheeler industry globally. Lastly, India has the Highest two-wheeler sales.