Product Code: ETC13378734 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Shubham Padhi | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Two Wheeler Motorcycles Insurance Market was valued at USD 1800 Billion in 2024 and is expected to reach USD 2730 Billion by 2031, growing at a compound annual growth rate of 5.7 during the forecast period (2025-2031).
The Global Two Wheeler Motorcycles Insurance Market is witnessing steady growth due to increasing awareness about the importance of insurance coverage for motorcycles, rising disposable income levels, and a growing number of two-wheeler users globally. Key factors driving market growth include stringent government regulations mandating insurance coverage, the need for financial protection against accidents and theft, and the expanding urban population opting for motorcycles as a convenient mode of transportation. Insurers are offering innovative products tailored to meet the specific needs of two-wheeler owners, such as comprehensive coverage, third-party liability insurance, and add-on covers for additional protection. The market is highly competitive with key players focusing on enhancing their product offerings, expanding their distribution channels, and leveraging digital platforms for efficient customer service and claims processing.
The Global Two Wheeler Motorcycles Insurance Market is experiencing growth driven by increasing adoption of two-wheelers for commuting and leisure purposes worldwide. One key trend is the rising demand for customized insurance plans that cater to the specific needs of two-wheeler riders, such as coverage for theft, accidents, and third-party liabilities. Another opportunity lies in the integration of technology, with the use of telematics and IoT devices to track rider behavior and offer personalized insurance premiums. Additionally, the emergence of digital platforms for purchasing and managing insurance policies is simplifying the process for consumers and expanding the reach of insurance providers. Overall, the market is poised for further expansion as more people opt for two-wheeler transportation, creating a favorable environment for insurance companies to innovate and capture new customer segments.
In the Global Two Wheeler Motorcycles Insurance Market, some key challenges include increasing competition among insurance providers leading to price wars and reduced profit margins, lack of awareness among consumers about the importance of insurance coverage for two-wheelers, especially in emerging markets, and the prevalence of fraudulent claims which can increase the cost of insurance premiums for all customers. Additionally, regulatory changes and uncertainty in some regions can impact the market dynamics and create challenges for insurance companies operating on a global scale. Overall, navigating these challenges requires insurance providers to innovate their product offerings, improve customer education initiatives, implement robust fraud detection mechanisms, and adapt to regulatory changes swiftly to stay competitive in the global market for two-wheeler motorcycle insurance.
The Global Two Wheeler Motorcycles Insurance Market is primarily driven by the increasing number of two-wheeler vehicles on the roads, leading to a higher demand for insurance coverage to protect against accidents and theft. Additionally, regulatory mandates in many countries requiring two-wheeler owners to have insurance further fuel the market growth. Rising disposable incomes in emerging economies have also contributed to the growth of the market as more individuals are purchasing motorcycles and seeking insurance coverage to safeguard their valuable assets. Moreover, the expanding penetration of insurance companies in untapped markets and the introduction of innovative insurance products tailored for two-wheeler owners are expected to drive the market further in the coming years.
Government policies related to the Global Two Wheeler Motorcycles Insurance Market typically focus on ensuring mandatory insurance coverage for all two-wheeler owners to protect against risks such as accidents and theft. These policies often stipulate minimum coverage requirements, premium regulations, and enforcement mechanisms to ensure compliance. Additionally, governments may introduce initiatives to promote insurance penetration among low-income populations, offer incentives for safe driving practices, and regulate insurance providers to maintain market stability and consumer protection. Overall, government policies play a crucial role in shaping the regulatory environment of the two-wheeler insurance market, aiming to strike a balance between ensuring widespread coverage and fostering a competitive and sustainable industry ecosystem.
The Global Two Wheeler Motorcycles Insurance Market is expected to witness steady growth in the coming years due to the increasing adoption of two-wheeler vehicles worldwide. Factors such as rising urbanization, improving disposable income levels, and a growing emphasis on road safety are driving the demand for insurance coverage for two-wheeler motorcycles. Additionally, regulatory mandates in many countries requiring insurance for two-wheeler vehicles are further contributing to market growth. The market is also experiencing advancements in insurance products and services, such as digital platforms for policy purchase and claims processing, which are enhancing customer convenience. Overall, the Global Two Wheeler Motorcycles Insurance Market is poised for expansion, with opportunities for insurers to innovate and cater to the evolving needs of two-wheeler vehicle owners.
In the Global Two Wheeler Motorcycles Insurance Market, regional insights vary significantly across different regions. Asia dominates the market due to the high population density and rapid urbanization in countries like India and China, leading to a large number of two-wheeler owners seeking insurance coverage. North America and Europe follow closely behind, with a mature insurance market and high disposable income driving the demand for comprehensive coverage options. The Middle East and Africa region is experiencing steady growth, fueled by increasing awareness about the benefits of insurance among two-wheeler owners. Latin America shows potential for growth, as improving economic conditions and rising urbanization rates are expected to boost the adoption of two-wheeler insurance in the region. Overall, each region presents unique opportunities and challenges for players in the global two-wheeler motorcycles insurance market.
Global Two Wheeler Motorcycles 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 Motorcycles Insurance Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Two Wheeler Motorcycles Insurance Market Revenues & Volume, 2021 & 2031F |
3.3 Global Two Wheeler Motorcycles Insurance Market - Industry Life Cycle |
3.4 Global Two Wheeler Motorcycles Insurance Market - Porter's Five Forces |
3.5 Global Two Wheeler Motorcycles Insurance Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Two Wheeler Motorcycles Insurance Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Two Wheeler Motorcycles Insurance Market Revenues & Volume Share, By Coverage, 2021 & 2031F |
3.8 Global Two Wheeler Motorcycles Insurance Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
3.9 Global Two Wheeler Motorcycles Insurance Market Revenues & Volume Share, By End Use, 2021 & 2031F |
4 Global Two Wheeler Motorcycles Insurance Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Two Wheeler Motorcycles Insurance Market Trends |
6 Global Two Wheeler Motorcycles Insurance Market, 2021 - 2031 |
6.1 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Third-Party, 2021 - 2031 |
6.1.3 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Comprehensive, 2021 - 2031 |
6.1.4 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Own Damage, 2021 - 2031 |
6.1.5 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Pay-as-you-Ride, 2021 - 2031 |
6.1.6 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Others, 2021 - 2031 |
6.2 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Liability, 2021 - 2031 |
6.2.3 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Theft, 2021 - 2031 |
6.2.4 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Accidental Damage, 2021 - 2031 |
6.2.5 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Natural Disaster, 2021 - 2031 |
6.2.6 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Personal Injury, 2021 - 2031 |
6.3 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Online, 2021 - 2031 |
6.3.3 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Insurance Agents, 2021 - 2031 |
6.3.4 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By OEM Dealerships, 2021 - 2031 |
6.3.5 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Banks and NBFCs, 2021 - 2031 |
6.4 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Individual Owners, 2021 - 2031 |
6.4.3 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Fleet Operators, 2021 - 2031 |
6.4.4 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Delivery Services, 2021 - 2031 |
6.4.5 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Corporate Fleets, 2021 - 2031 |
6.4.6 Global Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Others, 2021 - 2031 |
7 North America Two Wheeler Motorcycles Insurance Market, Overview & Analysis |
7.1 North America Two Wheeler Motorcycles Insurance Market Revenues & Volume, 2021 - 2031 |
7.2 North America Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
7.5 North America Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
7.6 North America Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
8 Latin America (LATAM) Two Wheeler Motorcycles Insurance Market, Overview & Analysis |
8.1 Latin America (LATAM) Two Wheeler Motorcycles Insurance Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
8.5 Latin America (LATAM) Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
8.6 Latin America (LATAM) Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
9 Asia Two Wheeler Motorcycles Insurance Market, Overview & Analysis |
9.1 Asia Two Wheeler Motorcycles Insurance Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
9.5 Asia Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
9.6 Asia Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
10 Africa Two Wheeler Motorcycles Insurance Market, Overview & Analysis |
10.1 Africa Two Wheeler Motorcycles Insurance Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
10.5 Africa Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
10.6 Africa Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
11 Europe Two Wheeler Motorcycles Insurance Market, Overview & Analysis |
11.1 Europe Two Wheeler Motorcycles Insurance Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
11.5 Europe Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
11.6 Europe Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
12 Middle East Two Wheeler Motorcycles Insurance Market, Overview & Analysis |
12.1 Middle East Two Wheeler Motorcycles Insurance Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Two Wheeler Motorcycles Insurance Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Coverage, 2021 - 2031 |
12.5 Middle East Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
12.6 Middle East Two Wheeler Motorcycles Insurance Market, Revenues & Volume, By End Use, 2021 - 2031 |
13 Global Two Wheeler Motorcycles Insurance Market Key Performance Indicators |
14 Global Two Wheeler Motorcycles Insurance Market - Export/Import By Countries Assessment |
15 Global Two Wheeler Motorcycles Insurance Market - Opportunity Assessment |
15.1 Global Two Wheeler Motorcycles Insurance Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Two Wheeler Motorcycles Insurance Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Two Wheeler Motorcycles Insurance Market Opportunity Assessment, By Coverage, 2021 & 2031F |
15.4 Global Two Wheeler Motorcycles Insurance Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
15.5 Global Two Wheeler Motorcycles Insurance Market Opportunity Assessment, By End Use, 2021 & 2031F |
16 Global Two Wheeler Motorcycles Insurance Market - Competitive Landscape |
16.1 Global Two Wheeler Motorcycles Insurance Market Revenue Share, By Companies, 2024 |
16.2 Global Two Wheeler Motorcycles Insurance Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |