The ASEAN two-wheeler market continues to grow and prosper

The ASEAN two-wheeler market continues to grow and prosper

The two-wheeler industry in the ASEAN region has continued to thrive in recent years with an expanding market size. Who are the top 10 two-wheeler battery companies in the world?

According to the data, two-wheeler sales in the ASEAN region reached 14.7 million units in 2023, a year-on-year growth of 3.6%.

This significant growth trend not only demonstrates the huge potential of the two-wheeler market in the ASEAN region, but also reflects consumers’ continued preference for two-wheelers as a convenient way to get around.

Table of Contents
    Add a header to begin generating the table of contents
    YouTube_play_button

    ASEAN two-wheeler market grows steadily

    Sales of two-wheelers in ASEAN have been consistently high. It reached an all-time high in 2019, crossing the 15 million mark and accounting for nearly a quarter of the global market share. You can also explore the e-bike market for your reference.

    The two-wheeler market was also virtually unaffected by the epidemic.

    Till 2020 sales began to decline, but from the second half of 2021 the industry began a gradual recovery and achieved sales growth of 9.2% to 14.3 million units in 2022, and remained on the rise into 2023, with two-wheeler sales in ASEAN rising to 14.7 million units by the end of the year, up 3.6% year-on-year.

    The ASEAN two wheeler market continues to grow and prosper 1

    Among the single markets, Indonesia was the strongest performer. Its sales grew rapidly, rising 20.1 percent to secure its position as the world’s third-largest two-wheeler market. Who are the top 10 electric bike manufacturers in Southeast Asia?

    Meanwhile, the Vietnamese market showed a very different trend, with sales falling by 17.8% in 2023 after experiencing significant growth in 2022.

    The Philippines(top 10 electric bike manufacturers in Philippines) came in third, with sales down 0.5%. Thailand, on the other hand, came in fourth with a 4.4% increase in sales, while Malaysia experienced a 4.0% decline after setting a new record.

    The Cambodian market is still growing, but at a slower rate than before, at 2.3%. Myanmar also saw a slight decline, while the Singapore market maintained steady growth at 2.5%.

    Overall, the two-wheeler industry in the ASEAN region remains vibrant, but there are differences between markets.

    Two-wheeler sales in Indonesia are the best

    As a key economy in the ASEAN region, Indonesia’s two-wheeler market is particularly strong.

    In terms of segmentation, Indonesia’s two-wheeler sales have been on the rise for four consecutive years, especially in 2023, when sales approached 6.4 million units, a year-on-year increase of up to 20.1%.

    This figure not only sets a new record in recent years, but also further confirms Indonesia’s position as the world’s third largest motorcycle market. Who are the top 10 electric bike manufacturers in Indonesia?

    The ASEAN two wheeler market continues to grow and prosper 2

    The prosperity of Indonesia’s two-wheeler market is, on the one hand, due to its large consumer base and vast market space.

    As one of the most populous countries in Southeast Asia, Indonesia’s motorcycle penetration rate is second only to those of China and India, which provides a huge foundation for the development of the two-wheeler market;

    On the one hand, the support and policy incentives provided by the Indonesian government for the two-wheeler industry also play an important role in boosting the industry

    On the other hand, the Indonesian government’s support and policy incentives for the two-wheeler industry have also played an important role in boosting the prosperity of the market.

    Electric markets continue to rise

    In terms of product categories, the market’s growth was mainly driven by the scooter market, which grew at a rate of 20.4%, while the motorcycle segment also contributed 17.5% growth.

    In addition, although the electric segment is still in its infancy, it is growing at an impressive rate, with more and more consumers opting for electric two-wheelers as a means of transportation as a result of increased environmental awareness and the continuous development of electric technology.

    Data show that Indonesia’s electric two-wheeler market has achieved significant growth in recent years, with the L1 category (equivalent to less than 50cc) growing by 360.0% and the L3 segment by 90.7%.

    The ASEAN two wheeler market continues to grow and prosper 3

    This growth trend not only reflects consumer demand for environmentally friendly and energy-efficient mobility, but also demonstrates the huge potential of the electric two-wheeler market.

    In terms of competitive landscape, Indonesia’s two-wheeler market is also characterized by diversity. Traditional brands such as Honda and Yamaha still dominate the market and continue to grow in sales.

    Meanwhile, a number of emerging e-motorcycle brands have also emerged and continue to capture market share through innovative technologies and marketing strategies.

    The rise of these brands has injected new vitality into the two-wheeler market in Indonesia.

    The final words

    The two-wheeled vehicle industry in the ASEAN region has achieved remarkable development results in recent years, and Indonesia, as one of the leaders, has shown strong market vitality and development potential.

    In the future, with the changing needs of consumers and the continuous progress of electric technology, the two-wheeled vehicle market in the ASEAN region will usher in a wider space for development, and Indonesia may become an important market for the global two-wheeled industry.

    The ASEAN two wheeler market continues to grow and prosper 4

    Chocolatezhu
    Chocolatezhu
    Hi, I'm an experienced writer about mechanic and an expert on bike and e-bike tech who appreciates practical, beautifully-engineered things. And of course, I love cycling.
    Related posts
    SAMEBIKE

    SAMEBIKE electric bike blog, where you will find all articles about cycling tips, as well as some reviews and newsletters about e-bikes.

    RECENT POSTS

    PRODUCTS

    Links:
    Video Gallery
    SEND INQUIRY
    Contact Form Demo
    Scroll to Top

    REQUEST A QUOTE

    Complete control over product allows usto ensure our customers receive the bestquality prices and service. We take greatpride in everything that we do.