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COVID-19 Impact Assessment, Recovery Road, and Growth Opportunities for the Global Two-wheeler Industry, 2019–2025
Transformational growth of 2W sales will ensure an aggressive rebound at 17.5%, by 2021
21-Oct-2020
Global
Market Research
MF5A-01-00-00-00
AU02066-GL-MT_24885
COVID-19 has brought the two-wheeler industry to a screeching halt. Governments across the world were forced to institute lockdowns on commercial and personal life for nearly two months. The automotive industry took the biggest hit as the global supply chain had to come to a halt. With customers not purchasing new vehicles, the two-wheeler (2W) industry suffered the biggest blow to business.
Asian countries constitute the largest markets for 2Ws, especially India, China, Vietnam, Indonesia, and Thailand. Before the COVID-19 crisis, new 2Ws were being sold at the rate of nearly 20 million a year, or 10 million every 6 months. However, in the first six months of 2020, this number was estimated to reduce to 40% or approximately 4 million 2Ws, if the supply chain were to open at all. European and North American markets did not suffer much, as not all retailers had closed, and traditional sales volume had never been as large as that of Asia. However, with global economies beginning to open up, the 2W industry is set to see the release of pent-up demand and a surge in sales.
Sales have rebounded by more than 100% in some markets because of the pent-up demand and personal mobility becoming a necessity in the time of the pandemic. This is expected to continue in the short-to-medium term, even after a global vaccine is made available, as two-wheelers offer a more affordable, convenient, and rapid transportation means than passenger cars. Other business moves that would help boost industry growth until 2026 are bolstering a company’s financial health, online sales and promotions, new shared mobility partnerships, mergers and acquisitions, connectivity, and telematics investments, among others.
After global 2W companies survive the outbreak and rebuild their companies financially, the next step would be to train their focus on future growth strategies, such as developing more premium 2Ws, connected and telematics solutions, rider assistance technologies for enhanced rider safety, electric solutions, and shared mobility partnerships. These avenues will be critical to penetrating new markets, and most importantly, to enticing new customers in the millennial and Gen Z age groups toward riding, as Baby Boomers and Gen X are more likely to prefer passenger vehicles for personal transportation.
Author: Viroop Narla
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Global 2W Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Global 2W Industry Scope of Analysis
Regional Segmentation
2W Segmentation
Key Competitors in the Global 2W Industry
Key Growth Metrics for the Global 2W Market
Growth Drivers for the Global 2W Industry
Growth Restraints for Global 2W Industry
Forecast Assumptions
Impact of COVID-19 on World GDP
Impact of COVID-19 on Regional GDP
Impact of COVID-19 on Regional GDP (continued)
Snapshot of the Impact of COVID-19 on Regional GDP
Quarter-over-Quarter Crude Oil Forecast
Economic Stimulus Measure by Country
Competitive Environment
Global 2W Industry Hot Spots
Global 2W Industry OEM Profiles
Global 2W Industry Rebound
Revenue Forecast and Unit Shipment
Revenue Share Analysis
Pricing Trends and Forecast Analysis
Three-pronged Impact of COVID-19 on the 2W Industry
Impact on Critical Elements of the 2W Industry
Revised State of the 2W Market due to the Pandemic
Impact Comparison of Automotive Segments
Unit Shipment Forecast by Region
Regional Industry Impact and Recovery Analysis
Snapshot of the Impact on Key 2W Markets
Snapshot of the Impact on Key 2W Participants
Key Growth Metrics—South Asia
Regional Impact Analysis—South Asia
Key Growth Metrics—APAC
Regional Impact Analysis—APAC
Key Growth Metrics—ASEAN
Regional Impact Analysis—ASEAN
Key Growth Metrics—EU-27
Regional Impact Analysis—EU-27
Key Growth Metrics—North America
Regional Impact Analysis—North America
Key Growth Metrics—South America
Regional Impact Analysis—South America
Key Growth Metrics—Africa
Regional Impact Analysis—Africa
2W Recovery to Outpace Other Automotive Segments
Recovery Operations and Timelines in 2020
Steps to Recovery
Key Mass-market OEM Recovery and Growth Strategy Matrix
Key Luxury OEM Recovery and Growth Strategy Matrix
Short Term—Bolstering Financial Health
Short Term—Online Sales and Promotions
Short Term—Pre-owned Vehicle Business
Medium Term—New Shared Business Models
Medium Term—Electric Technology Investment
Medium Term—Demand for Premium Motorcycles
Medium Term—Mergers & Acquisitions
Long Term—Electric Shared Mobility Solutions
Long Term—Connectivity & Telematics
Long Term—Blockchain Technology
Growth Opportunity 1: Connected Technology for Rider Safety
Growth Opportunity 1: Connected Technology for Rider Safety (continued)
Growth Opportunity 2: EV Technology to Enable Clean Mass Mobility
Growth Opportunity 2: EV Technology to Enable Clean Mass Mobility (continued)
Snapshot of Key Growth Opportunity Domains
Key 2W OEMs on the Growth and Technology Matrix
Growth of Premium 2Ws
Growth of Premium Dual-sport/Adventure Vehicles
Connected Technologies—V2X
Evolution of Connected Technologies for Zero Fatalities
The Future of Smart Helmets—H.A.V.A
Connected Technologies—Telematics Solutions
Riding Assistance—Trends and Outlook
Riding Assistance—Key Technologies to Watch
Shared Mobility
Shared Mobility—Rental
Shared Mobility—Leasing and Subscription
Shared Mobility—Last-mile Logistics
Electric Mobility—Key OEM Strategies
Electric Mobility—OEM and Market Ties
Electric Mobility—Key Growth Markets
Electric Mobility—Trends in the 2W Industry
Electric Mobility—Start-ups Shaping the Industry
Dealer Strategies for a Digital Customer Experience
Dealer Strategies for a Digital Customer Experience (Continued)
Digital Retail—Evolution Toward a 100% Online Journey
Digital Retail—Market Potential
New Market Penetration and Growth—EU-27
New Market Penetration and Growth—Africa
New Market Penetration and Growth—South America
New Market Penetration and Growth—Cessation of Demand from Older Generations
New Market Penetration and Growth—Millennial and Gen Z
New Aftermarket Business Models
Aggressive Innovation Because of New Competition
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
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