Europe Two-Wheeler Market Size
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 7.74 Billion |
|
|
Market Size (2030) | USD 18.05 Billion |
|
Largest Share by Propulsion Type | ICE |
|
|
CAGR (2024 - 2030) | 15.15 % |
|
Largest Share by Country | France |
|
|
Market Concentration | Medium |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in alphabetical order. |
Europe Two-Wheeler Market Analysis
The Europe Two-Wheeler Market size is estimated at 7.74 billion USD in 2024, and is expected to reach 18.05 billion USD by 2030, growing at a CAGR of 15.15% during the forecast period (2024-2030).
7.74 Billion
Market Size in 2024 (USD)
18.05 Billion
Market Size in 2030 (USD)
8.23 %
CAGR (2017-2023)
15.15 %
CAGR (2024-2030)
Largest Segment by Propulsion Type
72.96 %
value share, ICE, 2023
ICE two-wheelers dominate due to their affordability, widespread availability, and well-established refueling infrastructure across Europe.
Fastest-growing Segment by Propulsion Type
30.14 %
Projected CAGR, Hybrid and Electric Vehicles, 2024-2030
E2W are growing rapidly due to strong government support for sustainable transportation, extensive charging infrastructure, and increasing consumer preference for eco-friendly vehicles.
Largest Segment by Country
22.87 %
value share, France, 2023
France leads due to its strong automotive industry, extensive road network, and high consumer demand for efficient two-wheeler transportation in both urban and rural areas.
Leading Market Player
15.40 %
market share, Honda Motor Co.,Ltd., Ltd.
Honda Motor Co. Ltd. leads Europe's two-wheeler market due to its wide range of high-quality products, strong brand reputation, and extensive distribution network.
Second leading Market Player
10.90 %
market share, Yamaha Motor Company Limited, 2023
Yamaha Moto is the second leading player in Europe's two-wheeler market due to its extensive product range, trusted quality, and strong dealership network.
The European two-wheeler market's steady growth signifies an electrification and sustainability shift driven by tech advancements, policies, and changing consumer preferences
- In 2023, the European market for two-wheelers exhibited a growth pattern, with sales totaling 1,256,184 units, indicating an increase from the previous year's 1,188,468 units. This growth reflected an expanding interest in two-wheelers as both a primary and secondary mode of transportation, fueled by urbanization, the search for more sustainable commuting options, and the increased appeal of two-wheelers for leisure activities.
- The European market's progression is significantly influenced by the surge in hybrid and electric two-wheeler adoption. This shift is supported by a combination of factors, including stringent environmental regulations, government incentives aimed at promoting cleaner modes of transportation, and growing consumer consciousness towards reducing carbon footprints. These elements, coupled with advancements in electric two-wheeler technology—such as improved battery life, shorter charging times, and enhanced performance—are making electric options increasingly viable and attractive to a broader segment of consumers.
- From 2024 to 2030, the forecasted data indicated a steady increase in two-wheeler sales across Europe, with projections showing that sales could reach 1,730,220 units by 2030. This sustained growth trajectory underscores the enduring appeal of two-wheelers as a flexible, efficient, and sustainable mode of transportation. The continued rise in electric two-wheeler sales is expected to significantly contribute to this growth, reflecting a broader trend towards electrification in the transportation sector.
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Manufacturers are investing in research and development to introduce more efficient, safer, and smarter two-wheelers with advancements in battery technology, autonomous driving features, and connectivity
- The European two-wheeler market has been witnessing significant growth and transformation, driven by a combination of technological advancements, changing consumer preferences, and increasing environmental concerns. The market encompasses a wide range of vehicles, including motorcycles, scooters, mopeds, and electrically powered two-wheelers. The surge in demand for electric two-wheelers, in particular, reflects the region's growing commitment to sustainable transportation solutions. This shift is further supported by government incentives, stricter emission regulations, and an expanding infrastructure for electric vehicles, making electric two-wheelers an increasingly attractive option for consumers.
- Consumer preferences in Europe have been evolving, with a noticeable trend toward urban mobility solutions that offer convenience, affordability, and reduced environmental impact. Two-wheelers, especially scooters and mopeds, have become popular urban transport options due to their ability to navigate through traffic more efficiently than cars, lower operating costs, and ease of parking. This trend is complemented by the growing popularity of ride-sharing platforms and rental services for two-wheelers, which offer flexible and cost-effective mobility solutions without the need for ownership. Additionally, the advent of smart connectivity features in two-wheelers, such as GPS navigation, anti-theft systems, and smartphone integration, has enhanced the riding experience, making them more appealing to tech-savvy consumers.
Europe Two-Wheeler Market Trends
Environmental concerns, government support, and decarbonization goals fuel European electric vehicle demand and sales
- The demand and sales of electric vehicles in European countries have grown significantly over the past few years. Germany witnessed a growth in the sales of electric cars by 22% in 2022 over 2021, followed by the United Kingdom with an 18.40% increase in 2022 over 2021. Growing environmental concerns, stringent governmental norms, advantages of electric vehicles such as fuel efficiency, low service cost, no carbon emissions, and subsidies by the government are some of the factors contributing to the growth of electric vehicles in European countries.
- The demand for electric commercial vehicles, especially light trucks, is growing gradually in European countries. Moreover, the governments of various countries are also supporting the adoption of electric vehicles. In November 2021, the government of the United Kingdom announced a pledge that all heavy-duty vehicles would be zero-emission by the year 2040. Such factors have increased the sales of electric commercial vehicles in the United Kingdom by 23.17% in 2022 over 2021, and similar practices in various countries are enhancing the demand for electric commercial vehicles across Europe.
- It is projected that the electrification of vehicles in European countries is expected to grow tremendously in the next few years. The efforts of the governments in the regions for decarbonization are expected to drive the electric commercial vehicle market in Europe. For instance, in January 2022, the transport minister of Germany announced a goal to put 15 million electric vehicles on the road by 2030. Such factors are expected to increase the sales of electric vehicles during the 2024-2030 period in European countries.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Several European countries face population declines, while others grow, indicating a need for targeted policy interventions
- European countries are experiencing growth in CVP, driven by government incentives for environmentally friendly vehicles
- The general trend indicates a decline or stabilization in rates, influenced by economic factors and monetary policies
- Declining battery prices and government initiatives drive demand for electric vehicles in Europe
- Since February 2023, diesel imports from the Middle East, Asia, and North America have increased due to the ban on imports from Russia
- Europe's GDP per capita is on track for steady growth, reflecting resilience and strategic policies
- The European region is poised for economic stability, with concerted efforts to manage inflation and foster a balanced economic landscape
- Europe is demonstrating a robust commitment to enhancing its EV infrastructure, with significant growth in both slow and fast-charging stations
- Electrification in Europe drives the increase in regional battery pack demand
Europe Two-Wheeler Industry Overview
The Europe Two-Wheeler Market is moderately consolidated, with the top five companies occupying 41.80%. The major players in this market are BMW Motorrad, Honda Motor Co.,Ltd., KTM Motorcycles, Piaggio & C. SpA and Yamaha Motor Company Limited (sorted alphabetically).
Europe Two-Wheeler Market Leaders
BMW Motorrad
Honda Motor Co.,Ltd.
KTM Motorcycles
Piaggio & C. SpA
Yamaha Motor Company Limited
Other important companies include Ducati Motor Holding S.p.A., Harley-Davidson, Royal Enfield, Suzuki Motor Corporation, Triumph Motorcycles Ltd.
*Disclaimer: Major Players sorted in alphabetical order.
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Europe Two-Wheeler Market News
- September 2023: KTM India launched the two all-new, single-cylinder Duke 390 and 250 motorcycles priced at INR 310,520 and INR 239,000 respectively.
- July 2023: Harley-Davidson spinoff LiveWire Unveils Its Second Motorcycle – and It Can Hit 103 MPH.
- July 2023: Hero Motocorp and Harley-Davidson launched their co-developed premium motorcycle – the Harley-Davidson X440 in India from a starting price of INR 229 thousand and going to INR 269 thousand.
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Europe Two-Wheeler Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.2. GDP Per Capita
2.3. Consumer Spending For Vehicle Purchase (cvp)
2.4. Inflation
2.5. Interest Rate For Auto Loans
2.6. Impact Of Electrification
2.7. EV Charging Station
2.8. Battery Pack Price
2.9. New Xev Models Announced
2.10. Fuel Price
2.11. Regulatory Framework
2.12. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Propulsion Type
3.1.1. Hybrid and Electric Vehicles
3.1.2. ICE
3.2. Country
3.2.1. Austria
3.2.2. Belgium
3.2.3. Czech Republic
3.2.4. Denmark
3.2.5. Estonia
3.2.6. France
3.2.7. Germany
3.2.8. Ireland
3.2.9. Italy
3.2.10. Latvia
3.2.11. Lithuania
3.2.12. Norway
3.2.13. Poland
3.2.14. Russia
3.2.15. Spain
3.2.16. Sweden
3.2.17. UK
3.2.18. Rest-of-Europe
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. BMW Motorrad
4.4.2. Ducati Motor Holding S.p.A.
4.4.3. Harley-Davidson
4.4.4. Honda Motor Co.,Ltd.
4.4.5. KTM Motorcycles
4.4.6. Piaggio & C. SpA
4.4.7. Royal Enfield
4.4.8. Suzuki Motor Corporation
4.4.9. Triumph Motorcycles Ltd
4.4.10. Yamaha Motor Company Limited
5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- POPULATION TRENDS, VOLUME IN UNITS, EUROPE, 2017 - 2030
- Figure 2:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 3:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 4:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, EUROPE, 2017 - 2030
- Figure 5:
- AUTO LOAN INTEREST RATES, PERCENTAGE, EUROPE, 2017 - 2022
- Figure 6:
- ELECTRIC VEHICLE MARKET PENETRATION RATE, BY VEHICLE TYPE, PERCENTAGE OF VOLUME, EUROPE, 2017 - 2030
- Figure 7:
- CHARGING STATION DEPLOYMENT, BY TYPE, VOLUME IN UNITS, EUROPE, 2017 - 2022
- Figure 8:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, EUROPE, 2017 - 2030
- Figure 9:
- ANNOUNCEMENT OF NEW XEV MODELS, BY VEHICLE TYPE, VOLUME IN UNITS, EUROPE, 2023 - 2027
- Figure 10:
- FUEL PRICE, BY FUEL TYPE, USD/LITER, EUROPE, 2017 - 2022
- Figure 11:
- EUROPE TWO-WHEELER MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 12:
- EUROPE TWO-WHEELER MARKET, VALUE IN USD, 2017 - 2030
- Figure 13:
- EUROPE TWO-WHEELER MARKET, BY PROPULSION TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 14:
- EUROPE TWO-WHEELER MARKET, BY PROPULSION TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 15:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 16:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 17:
- EUROPE TWO-WHEELER MARKET, BY HYBRID AND ELECTRIC VEHICLES, BY VOLUME IN UNITS, 2017 - 2030
- Figure 18:
- EUROPE TWO-WHEELER MARKET, BY HYBRID AND ELECTRIC VEHICLES, BY VALUE IN USD, 2017 - 2030
- Figure 19:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 20:
- EUROPE TWO-WHEELER MARKET, BY ICE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 21:
- EUROPE TWO-WHEELER MARKET, BY ICE, BY VALUE IN USD, 2017 - 2030
- Figure 22:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 23:
- EUROPE TWO-WHEELER MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 24:
- EUROPE TWO-WHEELER MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
- Figure 25:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 26:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
- Figure 27:
- EUROPE TWO-WHEELER MARKET, BY AUSTRIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 28:
- EUROPE TWO-WHEELER MARKET, BY AUSTRIA, BY VALUE IN USD, 2017 - 2030
- Figure 29:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 30:
- EUROPE TWO-WHEELER MARKET, BY BELGIUM, BY VOLUME IN UNITS, 2017 - 2030
- Figure 31:
- EUROPE TWO-WHEELER MARKET, BY BELGIUM, BY VALUE IN USD, 2017 - 2030
- Figure 32:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 33:
- EUROPE TWO-WHEELER MARKET, BY CZECH REPUBLIC, BY VOLUME IN UNITS, 2017 - 2030
- Figure 34:
- EUROPE TWO-WHEELER MARKET, BY CZECH REPUBLIC, BY VALUE IN USD, 2017 - 2030
- Figure 35:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 36:
- EUROPE TWO-WHEELER MARKET, BY DENMARK, BY VOLUME IN UNITS, 2017 - 2030
- Figure 37:
- EUROPE TWO-WHEELER MARKET, BY DENMARK, BY VALUE IN USD, 2017 - 2030
- Figure 38:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 39:
- EUROPE TWO-WHEELER MARKET, BY ESTONIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 40:
- EUROPE TWO-WHEELER MARKET, BY ESTONIA, BY VALUE IN USD, 2017 - 2030
- Figure 41:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 42:
- EUROPE TWO-WHEELER MARKET, BY FRANCE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 43:
- EUROPE TWO-WHEELER MARKET, BY FRANCE, BY VALUE IN USD, 2017 - 2030
- Figure 44:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 45:
- EUROPE TWO-WHEELER MARKET, BY GERMANY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 46:
- EUROPE TWO-WHEELER MARKET, BY GERMANY, BY VALUE IN USD, 2017 - 2030
- Figure 47:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 48:
- EUROPE TWO-WHEELER MARKET, BY IRELAND, BY VOLUME IN UNITS, 2017 - 2030
- Figure 49:
- EUROPE TWO-WHEELER MARKET, BY IRELAND, BY VALUE IN USD, 2017 - 2030
- Figure 50:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 51:
- EUROPE TWO-WHEELER MARKET, BY ITALY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 52:
- EUROPE TWO-WHEELER MARKET, BY ITALY, BY VALUE IN USD, 2017 - 2030
- Figure 53:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 54:
- EUROPE TWO-WHEELER MARKET, BY LATVIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 55:
- EUROPE TWO-WHEELER MARKET, BY LATVIA, BY VALUE IN USD, 2017 - 2030
- Figure 56:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 57:
- EUROPE TWO-WHEELER MARKET, BY LITHUANIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 58:
- EUROPE TWO-WHEELER MARKET, BY LITHUANIA, BY VALUE IN USD, 2017 - 2030
- Figure 59:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 60:
- EUROPE TWO-WHEELER MARKET, BY NORWAY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 61:
- EUROPE TWO-WHEELER MARKET, BY NORWAY, BY VALUE IN USD, 2017 - 2030
- Figure 62:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 63:
- EUROPE TWO-WHEELER MARKET, BY POLAND, BY VOLUME IN UNITS, 2017 - 2030
- Figure 64:
- EUROPE TWO-WHEELER MARKET, BY POLAND, BY VALUE IN USD, 2017 - 2030
- Figure 65:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 66:
- EUROPE TWO-WHEELER MARKET, BY RUSSIA, BY VOLUME IN UNITS, 2017 - 2030
- Figure 67:
- EUROPE TWO-WHEELER MARKET, BY RUSSIA, BY VALUE IN USD, 2017 - 2030
- Figure 68:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 69:
- EUROPE TWO-WHEELER MARKET, BY SPAIN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 70:
- EUROPE TWO-WHEELER MARKET, BY SPAIN, BY VALUE IN USD, 2017 - 2030
- Figure 71:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 72:
- EUROPE TWO-WHEELER MARKET, BY SWEDEN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 73:
- EUROPE TWO-WHEELER MARKET, BY SWEDEN, BY VALUE IN USD, 2017 - 2030
- Figure 74:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 75:
- EUROPE TWO-WHEELER MARKET, BY UK, BY VOLUME IN UNITS, 2017 - 2030
- Figure 76:
- EUROPE TWO-WHEELER MARKET, BY UK, BY VALUE IN USD, 2017 - 2030
- Figure 77:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 78:
- EUROPE TWO-WHEELER MARKET, BY REST-OF-EUROPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 79:
- EUROPE TWO-WHEELER MARKET, BY REST-OF-EUROPE, BY VALUE IN USD, 2017 - 2030
- Figure 80:
- EUROPE TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
- Figure 81:
- EUROPE TWO-WHEELER MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 82:
- EUROPE TWO-WHEELER MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 83:
- EUROPE TWO-WHEELER MARKET SHARE(%), BY MAJOR PLAYERS, 2021
Europe Two-Wheeler Industry Segmentation
Hybrid and Electric Vehicles, ICE are covered as segments by Propulsion Type. Austria, Belgium, Czech Republic, Denmark, Estonia, France, Germany, Ireland, Italy, Latvia, Lithuania, Norway, Poland, Russia, Spain, Sweden, UK, Rest-of-Europe are covered as segments by Country.
- In 2023, the European market for two-wheelers exhibited a growth pattern, with sales totaling 1,256,184 units, indicating an increase from the previous year's 1,188,468 units. This growth reflected an expanding interest in two-wheelers as both a primary and secondary mode of transportation, fueled by urbanization, the search for more sustainable commuting options, and the increased appeal of two-wheelers for leisure activities.
- The European market's progression is significantly influenced by the surge in hybrid and electric two-wheeler adoption. This shift is supported by a combination of factors, including stringent environmental regulations, government incentives aimed at promoting cleaner modes of transportation, and growing consumer consciousness towards reducing carbon footprints. These elements, coupled with advancements in electric two-wheeler technology—such as improved battery life, shorter charging times, and enhanced performance—are making electric options increasingly viable and attractive to a broader segment of consumers.
- From 2024 to 2030, the forecasted data indicated a steady increase in two-wheeler sales across Europe, with projections showing that sales could reach 1,730,220 units by 2030. This sustained growth trajectory underscores the enduring appeal of two-wheelers as a flexible, efficient, and sustainable mode of transportation. The continued rise in electric two-wheeler sales is expected to significantly contribute to this growth, reflecting a broader trend towards electrification in the transportation sector.
| Propulsion Type | |
| Hybrid and Electric Vehicles | |
| ICE |
| Country | |
| Austria | |
| Belgium | |
| Czech Republic | |
| Denmark | |
| Estonia | |
| France | |
| Germany | |
| Ireland | |
| Italy | |
| Latvia | |
| Lithuania | |
| Norway | |
| Poland | |
| Russia | |
| Spain | |
| Sweden | |
| UK | |
| Rest-of-Europe |
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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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