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APAC Two-Wheeler Taxi Market Size (2024 - 2029)

The Asia-Pacific two-wheeler taxi market is experiencing significant growth, driven by the increasing demand for convenient and cost-effective transportation solutions. Despite the initial setbacks caused by the pandemic, which shifted consumer preferences towards personal vehicles due to safety concerns, the market is rebounding as economies stabilize and ride-sharing services expand. Two-wheeler taxis are particularly prevalent in the region, with regulatory changes in countries like Vietnam, India, and Thailand facilitating further expansion. The market's expansion is supported by the entry of numerous start-ups, although success has been limited to a few key players. The ongoing development of bike taxi services in new markets is expected to further enhance the market's scale and reach.

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Market Size of APAC Two-Wheeler Taxi Industry

APAC Two-Wheeler Taxi Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 0.39 Billion
Market Size (2029) USD 1.17 Billion
CAGR (2024 - 2029) 24.50 %
Market Concentration Medium

Major Players

Asia-Pacific Two-Wheeler Taxi Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Two-Wheeler Taxi Market Analysis

The APAC Two-Wheeler Taxi Market size is estimated at USD 0.39 billion in 2024, and is expected to reach USD 1.17 billion by 2029, growing at a CAGR of 24.5% during the forecast period (2024-2029).

  • The pandemic has adversely affected the two-wheeler taxi market. With lockdowns and restricted moments, the demand for two-wheeler taxi qs increased. The increased risk associated with crowded places with social distancing measures has hurt the growth of the market as the preference of customers has shifted towards personal vehicles. However, the country across the region is recovering and witnessing stable growth in the economy. Owing to the post-pandemic, ride-sharing services are gaining rapid pace across the region.
  • Over the medium term, two-wheeler taxis are majorly used in the Asia-Pacific region, as compared to the other parts of the world. Over the past three years, motorcycle/bike taxis have been witnessing a slow rate of growth, due to cultural and societal challenges, like sitting behind strangers and rider safety. However, the above challenges are likely to reduce, owing to the ongoing regulatory amendments in the taxi industry across several Asian countries like Vietnam, India, Thailand, and other nations.
  • Many start-ups have entered the two-wheeler taxi market in different countries, but very few companies have achieved success in this business. Rapido, which operates in India, is a good example of a successful bike taxi player.
  • Ease of commute in congested traffic and lower fares have been the primary driving factors of this market's growth, and it is anticipated to increase in the coming years, owing to the above trends and the ongoing plans of launching bike taxis in potential markets, like Vietnam, Thailand, and others.

Asia-Pacific Two-Wheeler Taxi Industry Segmentation

Two-Wheeler taxis are used to carry a passenger from one place to another. Two-Wheeler taxi service is cheaper than taxi services.

The Asia-Pacific two-wheeler taxi market is segmented into vehicle type, service type, and country. Based on the vehicle type, the market is segmented into motorcycles and scooters. Based on the service type, the market is segmented into pay-as-you-go and subscription-based. Based on the country, the market is segmented into China, India, Japan, Thailand, Vietnam, and the Rest of the Asia-Pacific.

For each segment, the market sizing and forecast have been done based on the value (USD).

By Vehicle Type
Motorcycle
Scooter
By Service Type
Pay as You Go
Subscription-Based
By Geography
China
India
Japan
Thailand
Vietnam
Rest of Asia-Pacific
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APAC Two-Wheeler Taxi Market Size Summary

The Asia-Pacific two-wheeler taxi market is experiencing a dynamic transformation, driven by the increasing demand for affordable and efficient transportation solutions. The market is characterized by the rapid adoption of bike taxis, which offer a cost-effective alternative to traditional cab services, particularly in densely populated urban areas. The growth of this sector is supported by technological advancements, such as smartphone applications and improved wireless infrastructure, which facilitate real-time ride-hailing and payment solutions. Despite challenges such as cultural perceptions and regulatory hurdles, the market is poised for significant expansion, with key players like Uber, Ola, and Grab leading the charge in various countries. The post-pandemic recovery has further accelerated the adoption of ride-sharing services, as consumers seek convenient and safe commuting options.

The market landscape is also shaped by the increasing penetration of internet services and the rise of local startups, which are enhancing competition and driving innovation. Countries like India, Vietnam, and Thailand are witnessing a surge in bike taxi usage due to their ability to navigate congested traffic and offer lower fares compared to traditional taxis. The popularity of two-wheeler taxis is further bolstered by government initiatives and partnerships aimed at promoting sustainable and efficient urban mobility solutions. As the market continues to evolve, the integration of electric vehicles and eco-friendly practices is expected to play a crucial role in shaping the future of two-wheeler taxis in the region.

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APAC Two-Wheeler Taxi Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Rise in Smartphone User and Internet Penetration Across the Region

    2. 1.2 Market Restraints

      1. 1.2.1 Increase in Traffic Problems

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 2.1 By Vehicle Type

      1. 2.1.1 Motorcycle

      2. 2.1.2 Scooter

    2. 2.2 By Service Type

      1. 2.2.1 Pay as You Go

      2. 2.2.2 Subscription-Based

    3. 2.3 By Geography

      1. 2.3.1 China

      2. 2.3.2 India

      3. 2.3.3 Japan

      4. 2.3.4 Thailand

      5. 2.3.5 Vietnam

      6. 2.3.6 Rest of Asia-Pacific

APAC Two-Wheeler Taxi Market Size FAQs

The APAC Two-Wheeler Taxi Market size is expected to reach USD 0.39 billion in 2024 and grow at a CAGR of 24.5% to reach USD 1.17 billion by 2029.

In 2024, the APAC Two-Wheeler Taxi Market size is expected to reach USD 0.39 billion.

Asia-Pacific Two-Wheeler Taxi Market Report Snapshots

Asia-Pacific Two-Wheeler Taxi Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)