Apr 17,2021 | Automotive
The Saudi Arabia two wheeler market is driven by increasing demand for recreational activities since the country has a very limited scope for two-wheelers due to extreme weather conditions. Additionally, increasing working population and surge in number of women drivers are further expected to propel the market growth.
Two wheelers are affordable, require low maintenance, emit lower emission and are easy to manoeuvre, which are contributing to the growing share of the two wheeler market. The Saudi Arabia two wheeler market was valued US$ 72.29 million in 2020 and is forecast to grow at CAGR of 10.51% to reach US$ 143.25 million by 2026. The Saudi Arabia two wheeler market is segmented based on vehicle type, engine capacity, company and region. Based on vehicle type, the market can be split into scooter/moped and motorcycle. The motorcycle segment led the market in 2020 and the trend is expected to continue until 2026 owing to the high fuel efficiency offered by them. Additionally, new product launches with better features and mileage further drives the segmental growth.The major players operating in the country’s two wheeler market are Honda Saudi Arabia, Kawasaki Saudi Arabia, BMW Motorrad, Suzuki Barayan, Harley Davidson KSA, Yamaha- Saudi Arabia, Vespa-Wheels of Arabia (KSA), KTM KSA Motorcycle, Moto Guzzi KSA and others. Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.Bharatbook offers an exhaustive report to identify dominant region, as well as the drivers and challenges for Saudi Arabia two wheeler markets. It also examines competitive developments such as expansions, new product launches, mergers & acquisitions, etc. The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
To get more details on the expanding market, please visit Saudi Arabia two wheeler markets.