Press release
Two-Wheeler Services Market Sales are Expected to reach US$ 43.61 Bn by 2031 | TMR
Two-wheeler service is a series of maintenance procedures carried out at a set time interval or after the vehicle has traveled a certain amount of distance. The service intervals are specified by the vehicle manufacturer. Two-wheeler repair services include maintenance and repair of different parts such as the engine, suspension, battery, shock absorbers, and tires. Tire services include tire pressure monitoring and replacement of tires, while battery services comprise replacement of two-wheeler batteries. Vehicle manufacturers, specialty shops, general repairs franchises, and locally-owned repair shops offer two-wheeler repair and maintenance services. Specialty shops are independently-owned shops specializing in doorstep services, breakdown assistance services, pick-up and drop services, and Annual Maintenance Contract (AMC) facilities.Access Complete Report of Two-wheeler Services Market @ https://www.transparencymarketresearch.com/two-wheeler-services-market.html
Growth of the e-commerce sector is expected to offer lucrative opportunities for players operating in the market. Competitive pricing is a key benefit of e-commerce websites. Increase in preference for online shopping has led to rapid growth in the last-mile delivery sector. Key delivery and e-commerce startups such as Big-basket, Swiggy, and Flipkart are expanding their regional presence, thereby driving the demand for two-wheelers for delivering goods and services. This, in turn, is fueling the need for periodic repair and maintenance of two-wheelers.
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Reliability Factor Propelling Service at Station Segment
In terms of service type, the global two-wheeler services market has been classified into service at station, doorstep services, pick-up & drop services, breakdown assistance, and others. The service at station segment held major share of 82.90% of the global market in 2021. The segment is estimated to retain its dominance in the market during the forecast period. Lack of digital awareness in rural areas is a key factor driving the service at station segment. Additionally, reliability of service providers is another factor that plays a crucial role in driving the demand for service at station, especially in rural areas, where customers prefer to visit local service providers personally. They can also bargain on the services provided at these centers.
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According to the demand analysis of two-wheeler services market, players offering two-wheeler services are witnessing a transformation in demand for services. Rise in adoption of smart gadgets and growth in app-based services are the emerging trends of the two-wheeler services market. Development of mobile applications and their user-friendly interfaces are encouraging people to use services such as doorstep, pick & drop facility, etc. This is creating lucrative opportunities for hi-tech facility enabled service centers.
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Regional Outlook of Global Two-wheeler Services Market
In terms of revenue, Asia Pacific dominated the global two-wheeler services market in 2021. It is expected to hold more than 37.54% share of the global market by the end of the forecast period. Thus, Asia Pacific is likely to be the fastest growing market for two-wheeler services owing to the presence of a prominent automotive industry in China. Rise in population and urbanization is also a major factor boosting the two-wheeler services market in the region. China's emergence as a global manufacturing hub has increased the demand for two-wheelers. Availability of low-cost labor and raw materials is boosting the production of aftermarket parts in Asia Pacific. Rise in two-wheeler production, especially electric two-wheelers, is anticipated to augment the two-wheeler services market in the region during the forecast period. Increase in demand for electric two-wheelers and rapid expansion of OEMs in China, India, and South Korea are further fueling the two-wheeler services market in Asia Pacific.
Europe also holds vital share of the global two-wheeler services market owing to the increase in disposable income, competition, and population in the region. Germany accounts for large share of the two-wheeler services market in Europe.
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
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