Central America Two Wheeler Market

Central America Two Wheeler Market Overview

The automotive vehicles with two wheels are known as two-wheelers. They are an affordable and convenient mode of personal transport for an individual. They are lightweight, easy to maneuver, easy for parking, saves traffic time, and are exempted from toll tax. Two-wheeler can carry a maximum of 2 passengers due to its limited space.

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Major Central America Two Wheeler Market Drivers

Enhanced fuel efficiency, attractive prices, low emission, and easy maneuvrability are some of the major factors accelerating the growth of Central America two wheeler market. It has been observed that motorbikes or two wheeled motor vehicles are the most popular and common mode of transportation in developing regions. They are affordable and provides enhanced mileage in comparison to cars, thus they are considered more economical during long run. In the era of advanced technologies, both cars and bikes are manufactured with 4 strokes i.e. 4 step process of burning fuel in cylinders. It is a part of the engine wherein; chemical energy is converted into kinetic energy. More number of cylinders leads to a higher quantity of fuel consumed. As bike is smaller and compact than a car and could carry only two passengers it emits requires less fuel and thus has enhanced fuel efficiency. Therefore, high fuel efficiency consumes less fuel cost, which is boosting the demand for two wheelers in Central America.

Global warming is one of the major environmental concerns, which is majorly due to the emission of fuels. Therefore, E-bikes are gaining more popularity among customers, as they run on clean energy and are zero-emission vehicles, prevent air pollution, consists of electric batteries, which lasts for a longer time and emits minimal waste, cost-effective, and are sustainable. The increasing benefits of E-bikes is attracting many consumers to opt for e-bikes over the coming years. On the other hand, with the emergence of the COVID-19 pandemic, the demand for two wheelers has experienced a sharp fall in 2020. With the strict lockdown around the world, people are now purchasing essential products rather than buying a luxury or unnecessary items. However, the market is expected to bounce back in 2021 while growing at a significant rate from 2022 onwards.

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On the basis of vehicle, the market is segmented into scooter, mopeds, and motorbikes. Among these, the scooter would lead the market during the forecast period. Scooters are generally unisexual, which could be used by both men and women. Due to the increasing number of working women, families with average disposable income prefer to purchase scooters for the usage of both the genders. Moreover, scooters are more cost-effective transport in comparison to motorbikes, which increases the demand for the segment in the market.

Based on technology, the market is segmented into automatic transmission, and manual transmission. Among them, the automatic transmission based two wheelers would witness a higher CAGR during the forecast period. This is due to the ease and convenience provided by technology. It is easy to use, two wheelers stop faster due to the automatic downshift, the need for changing gears is eliminated, and provide convenient rides during high traffic conditions. Thus, customers consider such vehicles more reliable and convenient for usage.

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Based on countries, the El Salvador would witness a higher CAGR during the forecast period.  El Salvador is a highly populated and small country. Due to the high population, people across the country prefer to purchase two wheeler in order to avoid traffic congestions.

Top Market Players

The major players in the market include Honda Motor Company, Ltd., Yamaha Motor Co., Ltd., Hero Motocorp Ltd., Bajaj Auto Ltd., Suzuki Motor Corporation, Loncin Holdings, Ltd., Lifan Industry Co., Ltd., and Luoyang Northern Enterprises Group Co., Ltd., and TVS Motor Company.

Key Developments:

• • In 2019, TVS Motor Company partnered with Cadisa, a business group operating across EI Salavador, and Guatemala. With this partnership, TVS Motor Company strengthened its business and enhanced the sales of two wheeler in Central America.

Segments covered in the Report:

Central America two wheeler market has been segmented on the basis of vehicle, engine capacity, technology, and countries. Based on the vehicle, the market is segmented into scooter, mopeds, and motorbikes. Based on technology, the market is segmented into automatic transmission, and manual transmission. Based on engine capacity, the market is segmented into Less than 100cc, 101cc-500cc, More than 500cc.

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Key questions answered in this research report:

• • At what pace is Central America two wheeler market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Central America two wheeler market? What will be the impact of drivers and restraints in the future?
  • Which vehicle generated maximum revenues in 2019 and identify the most promising vehicle during the forecast period?
  • What are the various technologies of Central America two wheeler market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Vehicle, By Tehnology, By Countries
Regional Coverage	Central America
Companies Profiled	Honda Motor Company, Ltd., Yamaha Motor Co., Ltd., Hero Motocorp Ltd., Bajaj Auto Ltd., Suzuki Motor Corporation, Ltd., Lifan Industry Co., Ltd., Group Co., Ltd., TVS Motor Company among others; a total of 7 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Central America Two Wheeler Market by Vehicle

• • Scooter
  • Mopeds
  • Motorbikes

Central America Two Wheeler Market by Technology

• • Automatic Transmission
  • Manual Transmission

Central America Two Wheeler Market by Engine Capacity

• • Less than 100cc
  • 101cc-500cc
  • More than 500cc

Central America Two Wheeler Market by Countries

• • Guatemala Two Wheeler Market All-Up (Option 1: Free 25% Customization)
  • El Salvador Two Wheeler Market All-Up (Option 2: Free 25% Customization)
  • Panama Two Wheeler Market All-Up (Option 3: Free 25% Customization)
  • Costa Rica Two Wheeler Market All-Up (Option 4: Free 25% Customization)
  • Rest of Central America Two Wheeler Market All-Up (Option 5: Free 25% Customization)

Central America Two Wheeler Leading Market Players (Option 6: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Honda Motor Company, Ltd.
  • Yamaha Motor Co., Ltd.
  • Hero Motocorp Ltd.
  • Bajaj Auto Ltd.
  • Suzuki Motor Corporation
  • Lifan Industry Co., Ltd.
  • TVS Motor Company