Vietnam Two Wheeler Market (2023-2029) | Share, Forecast, Companies, COVID-19 IMPACT, Value, Industry, Size, Analysis, Outlook, Revenue, Trends & Growth

Topics Covered in the Vietnam Two-Wheeler Market

Vietnam Two-Wheeler Market report thoroughly covers the market by vehicle type and by engine capacity. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Two-Wheeler Market Synopsis 

The Vietnam two-wheeler market is expected to register a sound growth. This growth can be attributed to the increasing demand for motorcycles, mopeds, and scooters in Vietnam. Furthermore, rising income levels among the population have also led to an increased purchasing power that is likely to facilitate the sales of two-wheelers in Vietnam. Additionally, government initiatives such as tax exemption on electric motorcycles have further fuelled their sale significantly over recent years. Moreover, technological advancements are increasingly providing better features at competitive prices that are luring customers toward these products

According to 6Wresearch, the Vietnam Two-Wheeler Market size is projected to grow by 7.76% resulting in a market volume of US$6.87bn during the forecast period 2023-2029. The growth is influenced by the easy availability of affordable ranges of two-wheelers, increasing moto vloggers rate with the growing social media prevalence, and rapid urbanization. Additionally, Vietnam is experiencing rapid urbanization, with more people shifting to urban cities. Two-wheelers are proven an affordable mode of transportation in urban areas. Two-wheelers are relatively budget-friendly compared to four-wheeler vehicles, which makes them accessible to a wider range of consumers. Traffic congestion has become a major issue with the rising use of vehicles, hence two-wheelers are an ideal choice to be used in congested traffic. The rising popularity of fuel-efficient two-wheelers in the country, is serving both purposes, like consumers looking for cost-effective transportation and contributing to sustainability. This factor is positively driving the Vietnam Two-Wheeler Market growth. Nevertheless, Regulations related to emissions, safety standards, and vehicle registration can impact the two-wheeler market is one of the major challenges that can affect the market growth. Nevertheless, smartphones and GPS technology integrations have been becoming popular in two-wheelers for connectivity, and entertainment purposes. This is an ongoing trend in the market which appeals to customers to make purchases. 

COVID-19 Influence on the Vietnam Two-Wheeler Market

The pandemic affected the supply chains and resulted in shortages of components and parts needed to produce two-wheelers. This impacted the manufacturing process adversely and led to delays in product availability across the country. Moreover, economic challenges caused by the pandemic, such as job losses and reduced incomes, had majorly affected consumer spending. Many potential buyers had delayed their two-wheeler buying plans.  These measures had reduced the market shares in the country. 

Key Players of the Vietnam Two-Wheeler Market 

Some major key players are mentioned below in the market:

• Honda is one of the leading players in the Vietnam for two-wheeler vehicles. The company manufactures and provides a spectrum range of motorcycles and scooters.
• Yamaha is another major leading player, in manufacturing and selling two-wheeler vehicles, including motorcycles and scooters in the country. They facilitate a wide variety of models with different engine sizes to fulfill consumer preferences.
• Suzuki has a strong market presence in the country for two-wheelers, providing a comprehensive range of motorcycles and scooters. 
• Piaggio has a massive presence and is known for its stylish and premium scooters. It also offers wide options to cater to broader customers' requirements. 

Government Initiatives Introduced in the Vietnam Two-Wheeler Market:

Vietnam Two-Wheeler Market share is surging in the country due to the introduction of supportive government policies.  Such as the Vietnamese government has released GHG standards & regulations for two-wheelers to encounter environmental concerns. Manufacturers are required to adhere to these regulations. The government has taken the initiative by implementing safety regulations to ensure road safety, which include wearing helmets and using safety equipment. The government has been promoting electric mobility to reduce GHG levels in the country, hence the government is providing incentives, leading to higher adoption of electric two-wheeler vehicles. The government has implemented traffic management to ensure reduced traffic congestion to improve urban transportation, benefiting two-wheeler users.

Market Analysis by Vehicle Type

According to Shivankar, Research Manager, 6Wresearch, the motorcycle segment is experiencing significant growth with the rising moto vloggers coupled with the country has large population of youngsters, who prefer motorcycles due to their fast speed, advanced features, and high mileage. 

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Vietnam Two Wheeler Market Outlook
• Market Size of Vietnam Two Wheeler Market, 2022
• Forecast of Vietnam Two Wheeler Market, 2029
• Historical Data and Forecast of Vietnam Two Wheeler Revenues & Volume for the Period 2019-2029
• Vietnam Two Wheeler Market Trend Evolution
• Vietnam Two Wheeler Market Drivers and Challenges
• Vietnam Two Wheeler Price Trends
• Vietnam Two Wheeler Porter's Five Forces
• Vietnam Two Wheeler Industry Life Cycle
• Historical Data and Forecast of Vietnam Two Wheeler Market Revenues & Volume By Vehicle Type for the Period 2019-2029
• Historical Data and Forecast of Vietnam Two Wheeler Market Revenues & Volume By Motorcycle for the Period 2019-2029
• Historical Data and Forecast of Vietnam Two Wheeler Market Revenues & Volume By Scooter/Moped for the Period 2019-2029
• Historical Data and Forecast of Vietnam Two Wheeler Market Revenues & Volume By Engine Capacity for the Period 2019-2029
• Historical Data and Forecast of Vietnam Two Wheeler Market Revenues & Volume By Up to 125cc for the Period 2019-2029
• Historical Data and Forecast of Vietnam Two Wheeler Market Revenues & Volume By 126-250cc for the Period 2019-2029
• Historical Data and Forecast of Vietnam Two Wheeler Market Revenues & Volume By 251-500cc for the Period 2019-2029
• Historical Data and Forecast of Vietnam Two Wheeler Market Revenues & Volume By Above 500cc for the Period 2019-2029
• Vietnam Two Wheeler Import Export Trade Statistics
• Market Opportunity Assessment By Vehicle Type
• Market Opportunity Assessment By Engine Capacity
• Vietnam Two Wheeler Top Companies Market Share
• Vietnam Two Wheeler Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Two Wheeler Company Profiles
• Vietnam Two Wheeler Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Vehicle Type

• Motorcycle
• Scooter/Moped

By Engine Capacity

• Up To 125cc
• 126-250cc
• 251-500cc
• Above 500cc

Vietnam Two Wheeler Market: FAQs