Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Kazakhstan Two Wheeler Market | Size, Growth, Analysis, Companies, Revenue, Trends, Share, Industry, Forecast, Value & Outlook | Market Forecast By Vehicle Type, By Engine Capacity And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Kazakhstan Two Wheeler Market is projected to grow at a CAGR of 12.9% during 2024-2030.
Kazakhstan Two Wheeler market is experiencing significant growth, driven by economic recovery, urbanization, and increased demand for efficient urban mobility. The urban workforce expanded from 9.6 million to 10.3 million, while GDP per capita rose from $9,076 to $11,877. Additionally, the e-commerce volume reached $4.18 billion in 2022, boosting demand for Two Wheelers for last-mile deliveries. The popularity of electric vehicles is also rising, with the number of electric Two Wheelers increasing from 2,633 units in 2022 to 4,222 units in 2023. To support this growth, the government is investing in charging infrastructure, currently featuring 63 EV stations in Almaty and 29 in Astana.
Moreover, Government incentives play a crucial role, including exemptions from customs duties and transport taxes until December 31, 2025, and recycling fees waived since July 4, 2021. The "Roadmap" initiative aims to establish EV infrastructure in all major cities by 2029, offering financial incentives such as toll road charge exemptions starting in 2024 and waiving the initial state registration fee. These measures make electric vehicles more financially attractive than internal combustion engine (ICE) vehicles, encouraging more consumers to switch to electric Two Wheelers.
In Kazakhstan, the e-commerce sector has seen impressive growth, with retail e-commerce reaching $4.18 billion in 2022, accounting for 12.5% of total retail trade. This expansion is fueled by the rising trend of online shopping and its convenience, driving demand for efficient delivery solutions. Marketplace services, totaling approximately $2.52 billion, including food delivery services at 5.1%, underscore the sector's significant role. The increasing demand for prompt and reliable delivery services is expected to drive growth in the Two Wheeler market. Two Wheelers are well-suited for navigating urban areas swiftly, meeting the needs of the expanding e-commerce landscape.
Kazakhstan Two Wheeler Market Share
Moreover, Kazakhstan has made notable advancements in the off-roading sports sector from 2020 to 2023, supported by substantial investments and rising interest among the younger demographic. Companies like BRP's $300 million investment in electrifying their product lines have enhanced the appeal of off-road activities. Sales of off-road bikes by brands such as Polaris, Arctic Cat, and BRP have also surged, with Polaris reporting a significant 48% increase in vehicle sales from 2020 to 2023, reflecting the growing popularity of these sports and, consequently, the Two Wheeler market.
Market Segmentation by Types
In 2023, Kazakhstan Two Wheeler industry was primarily dominated by non-electric vehicles due to their superior performance and ability to travel longer distances on a single fuel refill. The abundance of fueling stations for non-electric Two Wheelers also makes them more convenient for long-distance travel. However, with the development of charging stations as there are over 100 charging points in major cities of the country and along the Almaty-Astana highway and growing awareness about emissions from non-electric vehicles, the sales of electric Two Wheelers is anticipated to rise in the coming years.
Market Segmentation by Regions
The southern region of Kazakhstan dominates the Two Wheeler market due to densely populated urban areas like Almaty and Shymkent, where strong purchasing power is supported by higher disposable incomes. The region's favorable year-round weather conditions enable continuous use of Two Wheelers, contrasting with other regions that contend with severe winter climates.
Kazakhstan Two Wheeler Market Segmentation
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Kazakhstan Two Wheeler Market Overview
- Kazakhstan Two Wheeler Market Outlook
- Kazakhstan Two Wheeler Market Forecast
- Historical Data and Forecast of Kazakhstan Two Wheeler Market Volume, for the Period 2020-2030F
- Historical Market Data and Forecast of Kazakhstan Two Wheeler Market Volume and Volume, By Types, for the Period 2020-2030F
- Historical Market Data and Forecast of Kazakhstan Electric Two Wheeler Market Volume and Volume, By Types, for the Period 2020-2030F
- Historical Market Data and Forecast of Kazakhstan Electric Two Wheeler Market Volume and Volume, By Battery Type, for the Period 2020-2030F
- Historical Market Data and Forecast of Kazakhstan Non-Electric Two Wheeler Market Volume and Volume, By Types, for the Period 2020-2030F
- Historical Market Data and Forecast of Kazakhstan Non-Electric Two Wheeler Market Volume and Volume, By Power, for the Period 2020-2030F
- Historical Market Data and Forecasts of Kazakhstan Two Wheeler Market Volume and Volume, By Regions, for the Period 2020-2030F
- Market Drivers and Restraints
- Market Trends and Evolution
- Industry Life Cycle
- Market Ecosystem
- Porter's Five Force Analysis
- Market Opportunity Assessment
- Kazakhstan Two Wheeler Market Share, By Companies
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Luoyang Northern Ek Chor Motorcycle Co. Ltd.
- Zhejiang Jianying Locomotive Co. Ltd
- Chongqing Qiyuan Motorcycle Co. Ltd
- Wuxi Gejue Motorcycle Technology Co. Ltd.
- Jiangmen Sonlink Motorcycle Co Ltd
- Linyi Qicaiguangyang Electric Vehicle Co.Ltd
- Husqvarna Motorcycles
- PEDA Motor
- Harley Davidson Inc.
- Bayerische Motoren Werke (BMW)
Market Scope and Segmentation
By Types
- Electric
- Non- Electric
By Regions
- North
- South
- East
- West
For more information about this report visit https://www.researchandmarkets.com/r/aeio1g
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
