Colombia Two Wheeler Market (2021-2027)
Market Forecast By Product Types (Electric Two-Wheeler (By Types (Scooter, Motorcycle), By Battery Type (Lead Acid, Lithium Ion)), Non-Electric Two-Wheeler (By Types (Scooter, Motorcycle, Moped), By Power (Upto 125 CC, 125.1 CC- 250 CC, Above 250 CC))), By Regions (Andean Region, Caribbean Region, Pacific Region, Orinoco Region, Amazon Region, Insular Region) And Competitive Landscape
According to 6Wresearch, Colombia Two Wheeler Market size is projected to grow at CAGR of 7.0% during 2021-27. The rising working population and increasing use of two-wheelers in the police force, delivery and taxi service, and growing popularity of two-wheelers among the youth, especially motorcycles and automatic scooters would fuel the demand for two-wheeler in the country in coming years. Additionally, government initiatives like bilateral growth initiative between the Colombian government and US International Finance Corporation to strengthen economic development and Fourth Generation (4G) road infrastructure program 2014-2024, would contribute to the increase in demand for two-wheeler in the country in the forthcoming years.
Colombia two-wheeler market witnessed modest growth during the period 2017-2020 owing to the increasing number of working population and improving lifestyles. Moreover, the inefficient public transportation system and rugged topography of Colombia led to growth in the demand for two-wheeler in the country. However, the pandemic situation caused by Covid-19 in 2020, led to a halt in assembling and manufacturing operations and disrupted the value chain and ecosystem of Colombia’s two-wheeler market due to the government imposed nationwide lockdown. Although, the market has started reviving back in 2021 with the gradual lifting of lockdown restrictions and revival of supply chain disruptions.
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Market Analysis by Components
By components, cameras accounted for the highest revenue share in the market in 2020 owing to the surging use of cameras by the law enforcement agencies and deployment of CCTV cameras across vertical like transportation with advanced intelligent functionalities like AI and machine learning solutions which enables facial recognition, thermal scanning and monitoring in order to combat COVID- 19 limitations. Further, with the growing development of smart cities and smart home applications in the country along with the strengthening IT infrastructure due to National Digital Communication Policy-2018, it is expected that IP surveillance cameras would remain the largest revenue shareholder, by type, during the forecast period.
Key Highlights of the Report
Colombia Two-Wheeler Market Overview
Colombia Two-Wheeler Market Trends
Colombia Two-Wheeler Market Outlook
Colombia Two-Wheeler Market Forecast
Porter’s Five Forces Analysis
Market Opportunity Assessment
Market Drivers and Restraints
Industry Life Cycle
Colombia Two-Wheeler Market Share, By Brands
Competitive Benchmarking
Company Profiles
Key Strategic Recommendations
Historical data and Forecast of Colombia Two-Wheeler Market Revenues and Volume, for the Period, 2017-2027F.
Historical data and Forecast of Revenues and Volume, By Product Types, for the Period, 2017-2027F
Historical data and Forecast of Revenues and Volume, By Regions, for the Period, 2017-2027F
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