DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Two-Wheeler Market, By Vehicle Type (Motorcycle, Scooter/Moped), By Engine Capacity (Till 125cc, 126-250cc, 251-500cc, Above 500cc), By Type of Sales (Individual vs Institutional), By Region, Competition, Forecast & Opportunities, 2017- 2027" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabian Two Wheeler Market is projected to grow at a CAGR of 8.97% in terms of value to reach USD73.63 million by 2027 due to the growing e-commerce industry, increasing disposable income, and removal of the ban on women riding vehicles.
Also, the rise in the market players offering better performing and fuel-efficient motorcycles and the high demand for motorcycles for recreational and adventurous activities among consumers are accelerating the growth of the Saudi Arabian Two Wheeler Market over the forecast period.
Riders prefer to use two wheelers as they are easy to navigate through dense traffic and are affordable with low maintenance costs. The government of Saudi Arabia removed the ban on women driving in 2017. Women have shown interest in riding two-wheelers as they give a sense of empowerment to women.
The growing population's demand to ride two-wheeler vehicles, coupled with advantages offered by two wheelers such as better fuel economy, low maintenance, and ownership cost are expected to bolster the growth of the Saudi Arabian Two Wheeler Market in the next five years.
Also, ride-hailing and ride-sharing services are witnessing massive demand among consumers due to high internet penetration and changing preference of consumers to avail services from online channels. Two-wheeler vehicles offer a cost-effective solution to consumers in comparison to riding four-wheeler vehicles.
Based on type of sales, the market is bifurcated into individual and institutional. The individual segment dominated the market in 2021 with a market share of 55.92% and is expected to maintain its dominance over the forecast period. The high per capita income of consumers and the changing preference for private vehicle ownership are driving the segment demand.
Objective of the Study:
- To analyze the historical growth in the market size of the Saudi Arabian Two Wheeler Market from 2017 to 2021.
- To estimate and forecast the market size of the Saudi Arabian Two Wheeler Market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast the Saudi Arabian Two Wheeler Market based on vehicle type, engine capacity, type of sales, regional distribution and competitive landscape.
- To identify dominant region or segment in the Saudi Arabian Two Wheeler Market.
- To identify drivers and challenges for the Saudi Arabian Two Wheeler Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabian Two Wheeler Market.
- To identify and analyze the profile of leading players operating in the Saudi Arabian Two Wheeler Market.
- To identify key sustainable strategies adopted by the market players in the Saudi Arabian Two Wheeler Market.
Major market players in the Saudi Arabian Two Wheeler Market
- Suzuki Barayan (Saleh Omar Barayan Sons Co Ltd)
- Harley-Davidson Inc. (M.A. Al-Mutlaq Sons Co.)
- Yamaha Motor Co., Ltd. (Al Khorayef Commercial Co. Ltd.)
- KTM AG (Tristar Motorcycles LLC)
- Moto Guzzi (Tristar Motorcycles LLC)
- Honda Motor Company Limited (Abdullah Hashim Company Ltd.)
- Kawasaki Motors Ltd. (Arabian Auto Agency Co. Ltd.)
- BMW Motorrad (Mohamed Yousuf Naghi Motors Co.)
- Hero MotoCorp Ltd. (M.A. Al-Mutlaq Sons Co.)
- Ducati Motor Holding S.p.A. (Saudi Arabian Marketing and Agencies Company. Ltd (SAMCO))
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022E
- Forecast Period: 2023F-2027F
Saudi Arabia Two Wheeler Market By Vehicle Type:
Saudi Arabia Two Wheeler Market By Engine Capacity:
- Above 500cc
- Till 125cc
Saudi Arabia Two Wheeler Market By Type of Sales:
Saudi Arabia Two Wheeler Market By Region:
- Northern & Central
For more information about this report visit https://www.researchandmarkets.com/r/syrl5
Laura Wood, Senior Press Manager
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