In the dynamic environment of evolving regulations and the emergence of new ecosystem players, Frost & Sullivan envisions a paradigm shift in the global two-wheeler industry, with electric two-wheelers (E2Ws) poised for exponential growth. This transition is being underpinned by advancements in technology and a noticeable shift towards the electrification of two-wheeler fleets within the service industry, driven by efforts to meet sustainability targets. Furthermore, connected technology is poised to emerge as a primary driver in this industry, enabling industry participants to explore innovative revenue streams, particularly through the integration of blockchain technology.
Frost & Sullivan’s recent Electric Vehicle Think Tank delved into the fascinating realm of “Unveiling New Opportunities in Electrification, Connectivity, and Leisure Riding in the Two-Wheeler Space.” This engaging discussion yielded pivotal contributions that are shaping the future of the industry, thanks to the collaborative efforts of visionary experts.
The following experts collectively brainstormed to craft transformative perspectives:
Shraddha Manjrekar — Growth Expert and Industry Analyst at Frost & Sullivan, Deepan Chinnaswamy — Growth Expert and Industry Analyst at Frost & Sullivan, and Yoav Elgrichi — Co-founder and Chief Executive Officer at Rider Dome.
Gain valuable perspectives from these experts by clicking here to access the recorded session of this Webinar.
Key Takeaways from the Session:
Global Industry Performance and Outlook: In 2023, the global two-wheeler industry saw a decline in sales amidst geopolitical tensions and increasing interest in electric alternatives. Nevertheless, the E2W segment surged, buoyed by subsidies, new business models, and regulatory support. In 2024, the industry is poised for further expansion, fueled by the launch of safer models and penetration into new regions.
What best practices is your organization adopting to capitalize on the surge in the E2W segment amidst the global shift towards sustainability?
Regional Scenario: In 2023, different regions experienced varying growth rates in the two-wheeler domain. For example, Europe emerged as a leader with significant growth in sales, while South Asia and ASEAN regions also saw growth driven by factors like improved demand and government incentives for E2Ws.
How is your organization capitalizing on the numerous regional opportunities emerging from the E2W transformation?
OEMs Prioritizing Consumer-Centric Innovation: OEMs are strategically augmenting two-wheelers with advanced connectivity, safety features, and embedded telematics. This deliberate focus aligns with a shift in consumer preferences towards sustainability and disruptive technologies, offering consumers a wider array of options tailored to their needs.
What growth strategies is your organization leveraging to prioritize consumer-centric innovations in the two-wheeler industry?
Key Transformations Influencing the Global Two-Wheeler Industry: Several key transformative shifts were identified for 2024, including the growing demand for adventure motorcycles, the adoption of liquid-cooled motor technology, integrated dash cams for safety and legal purposes, and the use of camera sensor-based systems for rider assistance.
What measures is your organization undertaking to align with key industry shifts identified for 2024?
