China Two Wheeler Market Size
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 349.4 Billion |
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Market Size (2030) | USD 383.4 Billion |
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Largest Share by Propulsion Type | ICE |
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CAGR (2024 - 2030) | 1.56 % |
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Fastest Growing by Propulsion Type | ICE |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
China Two Wheeler Market Analysis
The China Two Wheeler Market size is estimated at 349.4 billion USD in 2024, and is expected to reach 383.4 billion USD by 2030, growing at a CAGR of 1.56% during the forecast period (2024-2030).
349.4 Billion
Market Size in 2024 (USD)
383.4 Billion
Market Size in 2030 (USD)
6.41 %
CAGR (2017-2023)
1.56 %
CAGR (2024-2030)
Largest Segment by Propulsion Type
80.11 %
value share, ICE, 2023
ICE two-wheelers lead due to their cost-effectiveness, widespread availability, and extensive infrastructure, catering to the large consumer base in urban and rural areas.
Fastest-growing Segment by Propulsion Type
1.74 %
Projected CAGR, ICE, 2024-2030
Electric two-wheelers are the fastest-growing due to supportive government policies, advancements in battery technology, and increasing consumer preference for eco-friendly transportation.
Leading Market Player
9.48 %
market share, Jiangmen Grand River Group Co. Ltd.(Jiangmen Dachangjiang Group Co. Ltd.), 2023
Jiangmen Grand River Group Co. Ltd. leads the market with its diverse portfolio of two-wheelers, advanced manufacturing processes, and strong focus on quality and performance.
Second leading Market Player
6.74 %
market share, Loncin Motor Co. Ltd., 2023
Loncin Motor Co. Ltd. holds a significant market share due to its innovative two-wheeler designs, extensive product range, and strong brand presence in the Chinese market.
Third Leading Market Player
3.23 %
market share, Luoyang Northern Enterprises Group Co. Ltd., 2023
Luoyang Northern Enterprises Group Co. Ltd. is a key player due to its reliable and affordable two-wheeler models, strong manufacturing capabilities, and widespread distribution network in China.
The Chinese two-wheeler market is set to grow steadily through 2030, driven by advancements in electric vehicles and supportive government policies enhancing personal mobility solutions
- In 2023, the overall sales for two-wheelers in China reached 19,800,500 units, indicating a consistent growth trend from the previous year's 19,131,600 units. This growth reflects the increasing demand for two-wheelers, encompassing both ICE and electric vehicles, amid urbanization and the growing need for personal mobility solutions. The forecast for 2024 projects an increase to 21,108,080 units, underscoring a sustained interest in two-wheelers as essential transport tools.
- Government policies have played a crucial role in shaping the two-wheeler market in China, with significant emphasis on reducing pollution and promoting EVs. These initiatives, coupled with advancements in EV technology and infrastructure, have not only fostered a favorable environment for electric two-wheelers but also stimulated the overall two-wheeler market growth. Additionally, the post-pandemic recovery has witnessed a resurgence in the demand for personal mobility solutions, further propelling market expansion.
- From the 2024 to 2030 period, the market is expected to witness gradual growth, with projections indicating a peak at 24,012,450 units in 2029 before a slight decline to 23,737,600 units in 2030. This trend indicates a maturing market that could be influenced by factors such as market saturation for two-wheelers, the potential for increased adoption of alternative personal and public transportation methods, and the ongoing shift toward electric and sustainable mobility solutions. Technological innovations, along with evolving consumer preferences and continued government support for green transportation, will play critical roles in shaping the future trajectory of the Chinese two-wheeler market.
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China Two Wheeler Market Trends
Government initiatives and strong OEM investments drive rapid drowth in electric vehicle sales in China
- The programs launched by the government to reduce gas emissions caused by vehicle fuels are encouraging consumers to shift to green vehicles. In November 2020, the government of China announced a ban on fossil fuel vehicles by 2035, clearly stating the selling of 100% new energy vehicles under the new energy program. As a result, the demand for electric cars increased. Adopting such regulations enhanced the sales of electric cars and various types of battery packs used in them in China in recent years.
- The government is introducing various schemes and incentives for customers and manufacturers to promote and enhance the demand for electric vehicles in the country. In May 2022, the government announced the reintroduction of the subsidy program to increase the sales of electric vehicles. Moreover, the government will allocate a subsidy of USD 1500 to customers opting for an electric car. Such factors have encouraged customers to invest in electric mobility, which further has increased the sales of electric cars by 2.90% in 2022 over 2021 in China.
- The growing demand for electric vehicles has forced OEMs to plan to increase development and production in the electric vehicle category. In 2021, General Motors announced its plans to raise its spending on electric and autonomous vehicles to USD 20 billion by 2025. The company is expected to launch 20 new electric models by 2023 and aims to sell more than 1 million electric cars a year in China. As a result, these factors are expected to drive the electric vehicle market in China during the 2024-2030 period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- China's population, influenced by factors like aging demographics and reduced birth rates, is anticipated to decline further, reaching 1,395.21 million by 2030
- A stable and optimistic growth trend is anticipated for 2024-2030, supported by technological innovations and a growing consumer base
- China's electric vehicle charging station market soared to 1,000,000 slow charging and 760,000 fast charging stations in 2022, with future projections on the rise
- New Chinese electric vehicle debuts are driving the demand for battery packs
- China's GDP per capita expected to continue rising driven by long-term economic strategies, innovation, and global positioning
- Achieving steady inflation is a strategic imperative for China's sustained economic dominance
- The declining cost of lithium-ion batteries drives electric vehicle demand in China
- The demand for crude oil in China is expected to decline slightly owing to strong demand for EVs
China Two Wheeler Industry Overview
The China Two Wheeler Market is fragmented, with the top five companies occupying 22.50%. The major players in this market are Jiangmen Grand River Group Co. Ltd.(Jiangmen Dachangjiang Group Co. Ltd.), Jiangsu Xinri E-Vehicle Co. Ltd., Loncin Motor Co. Ltd., Luoyang Northern Enterprises Group Co. Ltd. and Wuyang-Honda Motors (Guangzhou) Co. Ltd. (sorted alphabetically).
China Two Wheeler Market Leaders
Jiangmen Grand River Group Co. Ltd.(Jiangmen Dachangjiang Group Co. Ltd.)
Jiangsu Xinri E-Vehicle Co. Ltd.
Loncin Motor Co. Ltd.
Luoyang Northern Enterprises Group Co. Ltd.
Wuyang-Honda Motors (Guangzhou) Co. Ltd.
Other important companies include Guangzhou Dayun Motorcycle Co. Ltd., JINYI Motor (China) Investment Co.Ltd. (Jinyi Vehicle Industry Co.Ltd.), Lifan Technology (Group) Co. Ltd., Sundiro Honda Motorcycle Co. Ltd., Zhejiang Luyuan Electric Vehicle Co. Ltd., Zongshen Industrial Group Co. Ltd..
*Disclaimer: Major Players sorted in alphabetical order.
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China Two Wheeler Market News
- August 2023: Multi-matrix Publicity Activities Deepen the Global Deployment of SUNRA Electric Vehicles
- August 2023: Win-win cooperation丨Loncin GM and Lingyun Intelligent jointly create intelligent self-balancing motorcycle products.
- July 2023: Recently, Sunra, a Chinese electric vehicle manufacturer, launched the mass-produced two-wheeled EV with sodium-ion batteries, bringing the concept to reality.
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For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
China Two Wheeler Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Population
- 4.2 GDP Per Capita
- 4.3 Consumer Spending For Vehicle Purchase (cvp)
- 4.4 Inflation
- 4.5 Interest Rate For Auto Loans
- 4.6 Impact Of Electrification
- 4.7 EV Charging Station
- 4.8 Battery Pack Price
- 4.9 New Xev Models Announced
- 4.10 Fuel Price
- 4.11 Regulatory Framework
- 4.12 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Propulsion Type
- 5.1.1 Hybrid and Electric Vehicles
- 5.1.2 ICE
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Guangzhou Dayun Motorcycle Co. Ltd.
- 6.4.2 Jiangmen Grand River Group Co. Ltd.(Jiangmen Dachangjiang Group Co. Ltd.)
- 6.4.3 Jiangsu Xinri E-Vehicle Co. Ltd.
- 6.4.4 JINYI Motor (China) Investment Co.Ltd. (Jinyi Vehicle Industry Co.Ltd.)
- 6.4.5 Lifan Technology (Group) Co. Ltd.
- 6.4.6 Loncin Motor Co. Ltd.
- 6.4.7 Luoyang Northern Enterprises Group Co. Ltd.
- 6.4.8 Sundiro Honda Motorcycle Co. Ltd.
- 6.4.9 Wuyang-Honda Motors (Guangzhou) Co. Ltd.
- 6.4.10 Zhejiang Luyuan Electric Vehicle Co. Ltd.
- 6.4.11 Zongshen Industrial Group Co. Ltd.
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- CHINA TWO WHEELER MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 2:
- CHINA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 3:
- CHINA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 4:
- CHINA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 5:
- CHINA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 6:
- CHINA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 7:
- CHINA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 8:
- CHINA TWO WHEELER MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2023 - 2027
- Figure 9:
- CHINA MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 10:
- CHINA TWO WHEELER MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 11:
- CHINA TWO WHEELER MARKET, VALUE IN USD, 2017 - 2030
- Figure 12:
- CHINA TWO WHEELER MARKET, BY PROPULSION TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 13:
- CHINA TWO WHEELER MARKET, BY PROPULSION TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 14:
- CHINA TWO WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 15:
- CHINA TWO WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 16:
- CHINA TWO WHEELER MARKET, BY HYBRID AND ELECTRIC VEHICLES, BY VOLUME IN UNITS, 2017 - 2030
- Figure 17:
- CHINA TWO WHEELER MARKET, BY HYBRID AND ELECTRIC VEHICLES, BY VALUE IN USD, 2017 - 2030
- Figure 18:
- CHINA TWO WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 19:
- CHINA TWO WHEELER MARKET, BY ICE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 20:
- CHINA TWO WHEELER MARKET, BY ICE, BY VALUE IN USD, 2017 - 2030
- Figure 21:
- CHINA TWO WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 22:
- CHINA TWO WHEELER MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 23:
- CHINA TWO WHEELER MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 24:
- CHINA TWO WHEELER MARKET SHARE(%), BY MAJOR PLAYERS, 2021
China Two Wheeler Industry Segmentation
Hybrid and Electric Vehicles, ICE are covered as segments by Propulsion Type.
- In 2023, the overall sales for two-wheelers in China reached 19,800,500 units, indicating a consistent growth trend from the previous year's 19,131,600 units. This growth reflects the increasing demand for two-wheelers, encompassing both ICE and electric vehicles, amid urbanization and the growing need for personal mobility solutions. The forecast for 2024 projects an increase to 21,108,080 units, underscoring a sustained interest in two-wheelers as essential transport tools.
- Government policies have played a crucial role in shaping the two-wheeler market in China, with significant emphasis on reducing pollution and promoting EVs. These initiatives, coupled with advancements in EV technology and infrastructure, have not only fostered a favorable environment for electric two-wheelers but also stimulated the overall two-wheeler market growth. Additionally, the post-pandemic recovery has witnessed a resurgence in the demand for personal mobility solutions, further propelling market expansion.
- From the 2024 to 2030 period, the market is expected to witness gradual growth, with projections indicating a peak at 24,012,450 units in 2029 before a slight decline to 23,737,600 units in 2030. This trend indicates a maturing market that could be influenced by factors such as market saturation for two-wheelers, the potential for increased adoption of alternative personal and public transportation methods, and the ongoing shift toward electric and sustainable mobility solutions. Technological innovations, along with evolving consumer preferences and continued government support for green transportation, will play critical roles in shaping the future trajectory of the Chinese two-wheeler market.
| Propulsion Type | Hybrid and Electric Vehicles |
| ICE |
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Market Definition
- Vehicle Type - The category covers motorized two-wheelers.
- Vehicle Body Type - This includes Scooters and Motorcycles, while Kick-scooters and Bicycles are excluded.
- Fuel Category - Coverage extends to vehicles powered by Internal Combustion Engines (ICE) and electric propulsion systems.
| Keyword | Definition |
|---|---|
| Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
| Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
| Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
| Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
| Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
| Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
| Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
| M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
| Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
| Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
| Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
| LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
| CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
| HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
| PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
| Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
| Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
| SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
| MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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