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Motorcycles are two- or three-wheeled vehicles driven by gasoline engines and steered by handgrips, which are light, flexible and fast. According to CRI's analysis, Southeast Asia is the world's highest per capita motorcycle ownership region, with Indonesia, Vietnam, Thailand, the Philippines and Malaysia occupying the major market share of the Southeast Asian motorcycle market.
Most of the countries in Southeast Asia are mainly mountainous, with rugged terrain and narrow roads, and many of them lack perfect public transportation and have poor road conditions, making them more suitable for motorcycles as transportation. At the same time, in addition to Singapore, the rest of the Southeast Asian countries are developing countries, with low per capita disposable income, unable to afford expensive cars, and can only choose to buy more economical motorcycles, so there is still a lot of room for development in the Southeast Asian motorcycle industry.
Southeast Asia has an abundant labor force and lower production costs, attracting global motorcycle manufacturers to shift production capacity to the Southeast Asian region. According to CRI's analysis, Honda has successively built motorcycle production bases in Vietnam's Vinh Phuc and Ha Nam provinces with an annual production capacity of 2.5 million units for domestic consumption and export demand. Suzuki has also established a number of motorcycle production plants in Dong Nai Province, Vietnam.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.
CRI expects the motorcycle industry in Southeast Asia to continue to grow from 2023-2032.
Topics covered:
Southeast Asia Motorcycle Industry Status and Major Sources in 2018-2022
What is the Impact of COVID-19 on Southeast Asia Motorcycle Industry?
Which Companies are the Major Players in Southeast Asia Motorcycle Industry Market and What are their Competitive Benchmarks?
Key Drivers and Market Opportunities in Southeast Asia Motorcycle Industry
What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Motorcycle Industry during 2023-2032?
What is the Expected Revenue of Southeast Asia Motorcycle Industry during 2023-2032?
What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
What are the Competitive Advantages of the Major Players in Southeast Asia Motorcycle Industry Market?
Which Segment of Southeast Asia Motorcycle Industry is Expected to Dominate the Market in 2032?
What are the Major Adverse Factors Facing Southeast Asia Motorcycle Industry?