Market Size of ASEAN 2-Wheeler Rental Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
ASEAN Two Wheeler Rental Market Analysis
The ASEAN 2-wheeler Rental Market is anticipated to register a CAGR of about 4.8% during the forecast period (2020 - 2025).
Consumers are unwilling to invest hugely in commodities which are used for only a brief period. As a result, the Automotive Rental industry on the rise. With hassle-free, low maintenance, and cheap pricing, 2-Wheeler renting is also becoming popular in the ASEAN markets. Also, 2-wheelers have a leaner volume, which significantly reduces traffic congestion, while which is significant to the overcrowded cities in the ASEAN region.
Various factors, including population rise along with growth in the economy, are making the ASEAN counties the fastest and also an attractive economic market to the investors. The ASEAN region includes already developed countries like Singapore, Thailand, Malaysia, Indonesia, while also developing countries with low per capita revenue like Vietnam and the Philippines, which are also to see a massive demand for 2-Wheels Rentals.
Rise of electric 2-wheeler providing the same utility any two-wheelers with an added benefit of reduced ill-effects on the environment is also becoming popular amongst the developing ASEAN countries.
ASEAN Two Wheeler Rental Industry Segmentation
The ASEAN 2-wheeler Rental Market report covers the current and upcoming trends with recent technological development. The report will provide a detailed analysis of various areas of the market by vehicle, rental duration and application. The market share of significant 2-Wheeler Rental companies across ASEAN nations will be provided.
| Vehicle Type | |
| Motorcycle | |
| Scooter/Moped |
| Rental Duration Type | |
| Short term | |
| Long Term |
| Application Type | |
| Tourism | |
| Daily Commuting |
| Geography | |||||||
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ASEAN 2-Wheeler Rental Market Size Summary
The ASEAN motorcycle rental market is experiencing significant growth, driven by the increasing preference for cost-effective and low-maintenance transportation solutions. As urban areas in the ASEAN region become more congested, the demand for two-wheeler rentals is rising due to their ability to navigate through traffic and occupy less space compared to cars. This trend is further supported by the region's economic growth and population increase, making it an attractive market for investors. The market is characterized by a mix of developed countries like Singapore and Thailand, and developing nations such as Vietnam and the Philippines, all of which are witnessing a surge in demand for motorcycle rentals. The rise of electric two-wheelers, which offer environmental benefits, is also contributing to the market's expansion, particularly in countries like Indonesia, where motorcycles are a primary mode of transport.
The motorcycle rental industry in ASEAN is still in its early stages compared to the more established car rental sector, but it is poised for rapid growth. Companies are enhancing their services by offering 24/7 customer support, free pick-ups and drops, and additional amenities like helmets and navigation aids. The market is highly fragmented, with numerous startups and regional players such as Honda, Yamaha, and Suzuki competing for market share. Collaborative efforts and partnerships among major manufacturers are common as they seek to introduce innovative products and expand their presence. Despite challenges like the high cost of electric vehicles, initiatives by governments, such as Indonesia's collaboration with Honda to promote e-bikes, are expected to drive further growth in the sector.
ASEAN 2-Wheeler Rental Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Vehicle Type
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2.1.1 Motorcycle
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2.1.2 Scooter/Moped
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2.2 Rental Duration Type
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2.2.1 Short term
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2.2.2 Long Term
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2.3 Application Type
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2.3.1 Tourism
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2.3.2 Daily Commuting
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2.4 Geography
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2.4.1 ASEAN
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2.4.1.1 Indonesia
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2.4.1.2 Malaysia
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2.4.1.3 Singapore
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2.4.1.4 Philippines
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2.4.1.5 Rest of ASEAN
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ASEAN 2-Wheeler Rental Market Size FAQs
What is the current ASEAN 2-Wheeler Rental Market size?
The ASEAN 2-Wheeler Rental Market is projected to register a CAGR of greater than 4.80% during the forecast period (2024-2029)
Who are the key players in ASEAN 2-Wheeler Rental Market?
Honda, Yamaha, Suzuki , Kawasaki and Piaggio are the major companies operating in the ASEAN 2-Wheeler Rental Market.
