IMARC Group has published a market research report titled "Latin America Two-Wheeler Market Report by Vehicle Type (Motorcycle, Scooter, Moped), Fuel Type (Gasoline, Electric), Engine Capacity (Less Than 100cc, 100-125cc, 126-250cc, 250-500cc, More Than 500cc), Technology (Manual, Automatic), and Country 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the Latin America two-wheeler market trends. The market size reached 12.1 Million Units in 2023. Looking forward, IMARC Group expects the market to reach 36.2 Million Units by 2032, exhibiting a growth rate (CAGR) of 12.6% during 2024-2032.
The Latin America two-wheeler market is driven by the escalating demand for affordable and efficient transportation solutions. Two-wheelers, such as motorcycles and scooters, offer a viable solution to the challenges posed by urban congestion and the need for personal mobility. Furthermore, the improving consumer living standards, owing to the inflating disposable income levels, are catalyzing the demand for advanced and highly powered motorcycles and scooters. Additionally, the growing penetration of several international two-wheeler OEMs in the region is also bolstering the growth of the market.
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Latin America Two-Wheeler Market Trends and Drivers
Besides this, improvements in two-wheeler technology, including the introduction of electric and hybrid models, are making these vehicles more appealing by offering environmentally friendly options and lower operating costs. Additionally, the shifting preferences from IC engines to electric and hybrid two-wheelers, on account of the rising environmental concerns, are offering significant growth opportunities to the overall market. Moreover, the escalating number of government initiatives for promoting the production and adoption of electric and hybrid two-wheelers is also contributing to the market growth. Besides this, the emerging popularity of motorcycle and scooter-sharing programs is further indicating the growing importance of two-wheelers in the region's mobility ecosystem. Furthermore, the increasing number of automotive financers offering easy financing options to purchase two-wheelers is anticipated to drive the growth of the Latin America two-wheeler market in the coming years.
Leading Companies Operating in the Latin America Two-Wheeler Industry:
- 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, Motomel S.A.
- 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.).
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Vehicle Type:
- Motorcycle
- Scooter
- Moped
Breakup by Fuel Type:
- Gasoline
- Electric
Breakup by Engine Capacity:
- Less Than 100cc
- 100-125cc
- 126-250cc
- 250-500cc
- More Than 500cc
Breakup by Technology:
- Manual
- Automatic
Breakup by Country:
- Brazil
- Mexico
- Colombia
- Argentina
- Peru
- Ecuador
- Chile
- Others
Note: 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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