Product Code: ETC13378731 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Two-Wheeler Insurance Market was valued at USD 2100 Billion in 2024 and is expected to reach USD 3400 Billion by 2031, growing at a compound annual growth rate of 5.60% during the forecast period (2025-2031).
The global two-wheeler insurance market is witnessing significant growth driven by the increasing adoption of two-wheeler vehicles, especially in emerging economies. Factors such as rising traffic congestion, urbanization, and the need for affordable transportation options are fueling the demand for two-wheeler insurance policies. Additionally, stringent government regulations mandating insurance coverage for two-wheeler vehicles are further boosting market growth. Insurers are increasingly offering customized insurance products with features such as comprehensive coverage, third-party liability protection, and add-on benefits to cater to the diverse needs of two-wheeler owners. The market is characterized by intense competition, with key players focusing on expanding their product portfolios, enhancing digital distribution channels, and improving customer service to gain a competitive edge. Overall, the global two-wheeler insurance market is poised for continued growth in the coming years.
The Global Two-Wheeler Insurance Market is experiencing significant growth due to the increasing number of two-wheeler vehicles on the roads worldwide. Key trends include the rising demand for comprehensive insurance coverage, especially in emerging markets where two-wheeler ownership is on the rise. Opportunities in the market lie in the adoption of digital technologies for insurance distribution and claims processing, as well as the introduction of innovative insurance products tailored to the specific needs of two-wheeler owners. Additionally, partnerships between insurance providers and two-wheeler manufacturers present a promising avenue for expanding market reach. Overall, the market is poised for growth driven by the growing awareness of the importance of insurance coverage for two-wheeler vehicles and the increasing focus on road safety.
The Global Two-Wheeler Insurance Market faces several challenges, including increasing competition among insurance providers leading to price wars and shrinking profit margins. Additionally, the lack of awareness about the benefits of two-wheeler insurance among consumers poses a challenge for market growth. Regulatory changes and compliance requirements in different regions also add complexity to the market landscape. Another significant challenge is the prevalence of fraudulent claims, which not only impact the profitability of insurance companies but also erode consumer trust in the industry. Adapting to evolving customer preferences and technological advancements, such as the rise of digital insurance platforms, further compound the challenges faced by stakeholders in the Global Two-Wheeler Insurance Market.
The Global Two-Wheeler Insurance Market is primarily driven by the increasing adoption of two-wheeler vehicles worldwide, coupled with strict government regulations mandating insurance coverage for these vehicles. Rising urbanization and disposable income levels in developing countries have led to a surge in two-wheeler ownership, thereby boosting the demand for insurance policies to protect against accidents, theft, and third-party liabilities. Additionally, the growing awareness among consumers about the importance of insurance in mitigating financial risks has further propelled market growth. Technological advancements, such as the use of telematics and digital platforms for insurance services, are also contributing to the expansion of the two-wheeler insurance market globally. Overall, these factors are expected to continue driving the market in the foreseeable future.
Government policies related to the Global Two-Wheeler Insurance Market primarily focus on ensuring mandatory insurance coverage for all two-wheeler vehicles to protect both riders and third parties. These policies vary by country but typically include requirements for liability insurance to cover bodily injury and property damage. Additionally, some governments may mandate personal accident insurance for riders, as well as comprehensive insurance options to cover theft, damage, and other risks. Regulatory bodies often oversee the insurance industry to ensure compliance with these policies, promote fair practices, and protect consumer interests. Overall, government policies play a crucial role in shaping the two-wheeler insurance market by establishing minimum coverage standards and promoting financial security for all parties involved.
The Global Two-Wheeler Insurance Market is expected to witness steady growth in the coming years due to several factors. The increasing adoption of two-wheelers for commuting purposes, especially in emerging economies, is driving the demand for insurance coverage to protect against accidents and theft. Additionally, the rising awareness among consumers about the benefits of insurance, such as financial security and peace of mind, is further contributing to market growth. Technological advancements, such as the integration of telematics and usage-based insurance, are also expected to drive innovation in the industry. However, regulatory changes and market competition could pose challenges for market players. Overall, the Global Two-Wheeler Insurance Market is poised for expansion, driven by the growing number of two-wheeler owners seeking comprehensive insurance coverage for their vehicles.
In the Global Two-Wheeler Insurance Market, different regional markets exhibit unique trends and characteristics. In Asia, particularly in countries like India and China, the market is driven by the large population of two-wheeler owners and increasing awareness about the benefits of insurance. North America showcases a mature market with a high penetration rate of insurance due to stringent regulations and a strong culture of risk management. Europe emphasizes on offering comprehensive coverage options and leveraging technology for efficient claims processing. The Middle East and Africa region experience growth due to rising urbanization and increasing disposable income levels. Latin America witnesses a growing demand for two-wheeler insurance driven by the expanding middle-class population and efforts to enhance road safety awareness.
Global Two-Wheeler Insurance Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Two-Wheeler Insurance Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Two-Wheeler Insurance Market Revenues & Volume, 2021 & 2031F |
3.3 Global Two-Wheeler Insurance Market - Industry Life Cycle |
3.4 Global Two-Wheeler Insurance Market - Porter's Five Forces |
3.5 Global Two-Wheeler Insurance Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Two-Wheeler Insurance Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Two-Wheeler Insurance Market Revenues & Volume Share, By Coverage, 2021 & 2031F |
3.8 Global Two-Wheeler Insurance Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.9 Global Two-Wheeler Insurance Market Revenues & Volume Share, By End Use, 2021 & 2031F |
4 Global Two-Wheeler Insurance Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Two-Wheeler Insurance Market Trends |
6 Global Two-Wheeler Insurance Market, 2021 - 2031 |
6.1 Global Two-Wheeler Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Two-Wheeler Insurance Market, Revenues & Volume, By Third-Party, 2021 - 2031 |
6.1.3 Global Two-Wheeler Insurance Market, Revenues & Volume, By Comprehensive, 2021 - 2031 |
6.1.4 Global Two-Wheeler Insurance Market, Revenues & Volume, By Own-Damage, 2021 - 2031 |
6.1.5 Global Two-Wheeler Insurance Market, Revenues & Volume, By Add-on Covers, 2021 - 2031 |
6.2 Global Two-Wheeler Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Two-Wheeler Insurance Market, Revenues & Volume, By Liability, 2021 - 2031 |
6.2.3 Global Two-Wheeler Insurance Market, Revenues & Volume, By Theft and Damage, 2021 - 2031 |
6.2.4 Global Two-Wheeler Insurance Market, Revenues & Volume, By Accidental Coverage, 2021 - 2031 |
6.2.5 Global Two-Wheeler Insurance Market, Revenues & Volume, By Engine Protection, 2021 - 2031 |
6.3 Global Two-Wheeler Insurance Market, Revenues & Volume, By Application, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Two-Wheeler Insurance Market, Revenues & Volume, By Personal Use, 2021 - 2031 |
6.3.3 Global Two-Wheeler Insurance Market, Revenues & Volume, By Commercial Use, 2021 - 2031 |
6.3.4 Global Two-Wheeler Insurance Market, Revenues & Volume, By Ride Sharing, 2021 - 2031 |
6.3.5 Global Two-Wheeler Insurance Market, Revenues & Volume, By High-Value Bikes, 2021 - 2031 |
6.3.6 Global Two-Wheeler Insurance Market, Revenues & Volume, By General Coverage, 2021 - 2031 |
6.4 Global Two-Wheeler Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Two-Wheeler Insurance Market, Revenues & Volume, By Individual Owners, 2021 - 2031 |
6.4.3 Global Two-Wheeler Insurance Market, Revenues & Volume, By Delivery and Logistics, 2021 - 2031 |
6.4.4 Global Two-Wheeler Insurance Market, Revenues & Volume, By Rental Services, 2021 - 2031 |
6.4.5 Global Two-Wheeler Insurance Market, Revenues & Volume, By Sports and Luxury Owners, 2021 - 2031 |
6.4.6 Global Two-Wheeler Insurance Market, Revenues & Volume, By Fleet Owners, 2021 - 2031 |
7 North America Two-Wheeler Insurance Market, Overview & Analysis |
7.1 North America Two-Wheeler Insurance Market Revenues & Volume, 2021 - 2031 |
7.2 North America Two-Wheeler Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Two-Wheeler Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Two-Wheeler Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
7.5 North America Two-Wheeler Insurance Market, Revenues & Volume, By Application, 2021 - 2031 |
7.6 North America Two-Wheeler Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
8 Latin America (LATAM) Two-Wheeler Insurance Market, Overview & Analysis |
8.1 Latin America (LATAM) Two-Wheeler Insurance Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Two-Wheeler Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Two-Wheeler Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Two-Wheeler Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
8.5 Latin America (LATAM) Two-Wheeler Insurance Market, Revenues & Volume, By Application, 2021 - 2031 |
8.6 Latin America (LATAM) Two-Wheeler Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
9 Asia Two-Wheeler Insurance Market, Overview & Analysis |
9.1 Asia Two-Wheeler Insurance Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Two-Wheeler Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Two-Wheeler Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Two-Wheeler Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
9.5 Asia Two-Wheeler Insurance Market, Revenues & Volume, By Application, 2021 - 2031 |
9.6 Asia Two-Wheeler Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
10 Africa Two-Wheeler Insurance Market, Overview & Analysis |
10.1 Africa Two-Wheeler Insurance Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Two-Wheeler Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Two-Wheeler Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Two-Wheeler Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
10.5 Africa Two-Wheeler Insurance Market, Revenues & Volume, By Application, 2021 - 2031 |
10.6 Africa Two-Wheeler Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
11 Europe Two-Wheeler Insurance Market, Overview & Analysis |
11.1 Europe Two-Wheeler Insurance Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Two-Wheeler Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Two-Wheeler Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Two-Wheeler Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
11.5 Europe Two-Wheeler Insurance Market, Revenues & Volume, By Application, 2021 - 2031 |
11.6 Europe Two-Wheeler Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
12 Middle East Two-Wheeler Insurance Market, Overview & Analysis |
12.1 Middle East Two-Wheeler Insurance Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Two-Wheeler Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Two-Wheeler Insurance Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Two-Wheeler Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Two-Wheeler Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
12.5 Middle East Two-Wheeler Insurance Market, Revenues & Volume, By Application, 2021 - 2031 |
12.6 Middle East Two-Wheeler Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
13 Global Two-Wheeler Insurance Market Key Performance Indicators |
14 Global Two-Wheeler Insurance Market - Export/Import By Countries Assessment |
15 Global Two-Wheeler Insurance Market - Opportunity Assessment |
15.1 Global Two-Wheeler Insurance Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Two-Wheeler Insurance Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Two-Wheeler Insurance Market Opportunity Assessment, By Coverage, 2021 & 2031F |
15.4 Global Two-Wheeler Insurance Market Opportunity Assessment, By Application, 2021 & 2031F |
15.5 Global Two-Wheeler Insurance Market Opportunity Assessment, By End Use, 2021 & 2031F |
16 Global Two-Wheeler Insurance Market - Competitive Landscape |
16.1 Global Two-Wheeler Insurance Market Revenue Share, By Companies, 2024 |
16.2 Global Two-Wheeler Insurance Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |