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Global Two-wheeler Outlook, 2021

·1-min read

COVID-19 has drastically changed the world’s functioning ever since it became a global pandemic. In 2020, the automotive industry was hit drastically with the nationwide lockdowns due to COVID-19, impacting the manufacturing units and supply chains across the world.

New York, July 20, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Global Two-wheeler Outlook, 2021" -

The two-wheeler industry was on a downward trajectory in 2019, and was further hit by the pandemic in 2020, leading to a much deeper slump in the growth.Though a sales rebound was observed in certain regions at the end of 2020, but it was temporary as the world, especially the two-wheeler major regions, such as Asia and Europe, was hit by the second wave of the pandemic at the start of 2021. The growing impact of the pandemic has forced the OEMs and other two-wheeler market stakeholders to change their strategies to increase the demand, and support the growth of the industry.Another outcome of the pandemic was people’s general reluctance to take public transport for local commuting, and hence there has been a shift to personal mobility, especially two wheelers due to their affordability. These recent factors have led to evolving customer habits, upcoming trends, and innovative business models.Governments are also focusing on pushing electrification of two wheelers across various regions that has sped up battery infrastructure evolution, and the OEMs coming up with latest models.
Read the full report:

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