The global two-wheeler logistics market revenue stood at $57,260.0 million in 2020, and it is predicted to surge to $355,631.2 million by 2030, according to the market research study published . The market is expected to demonstrate a CAGR of 20.0% from 2020 to 2030. The major factors driving the market are the cost-effectiveness and convenience of these services, expanding e-commerce industry, and incorporation of the real-time tracking technology.
The expansion of the e-commerce industry is one of the major market growth drivers. E-commerce sales accounted for nearly 16% of all retail sales in 2020, registering an increment of around 19% (in value) from the previous year. Additionally, e-commerce sales are predicted to account for approximately 18% of all retail sales across the world by 2021, primarily because of the growing popularity of home deliveries and rising customer requirement for convenience. According to the U.S. Department of Commerce, customers spent nearly $514 billion on online shopping in 2018, recording a surge of 14.2% from 2017.
The scooter category held the largest share in the two-wheeler logistics market in the past, under the vehicle type segment. Moreover, this category is predicted to retain its market dominance in the coming years owing to scooters’ low weight, large storage space, and ability to easily navigate busy roads.
The electric category, within the propulsion type segment, is predicted to exhibit the faster growth in the future. Logistics companies are increasingly adopting electric vehicles (EVs) in order to reduce their greenhouse gas emissions and carbon footprint.
Geographically, the Asia-Pacific (APAC) region dominated the two-wheeler logistics market in the past. This is ascribed to the growing focus of regional logistics companies on efficient order management through a platform that allows them to hire drivers for deliveries and pickups.
The APAC region is witnessing a digital revolution with the development of advanced technologies, which is also supporting the growth of the market in the region.
The COVID-19 pandemic has propelled the market, as people preferred ordering food items and essential products, such as pharmaceuticals and groceries, during the lockdown period. Moreover, a large number of organizations use two-wheelers for product deliveries as they are more fuel-efficient than four-wheelers and can easily snake through traffic.
The most-significant players in the two-wheeler logistics market are Shippify Inc., Stuart Delivery Ltd., Beijing Xiaoju Technology Co. Ltd. (Didi Chuxing), Meituan, Bringg Delivery Technologies Ltd., Doorman, Roofoods Limited, Lalamove EasyVan (Thailand) Co. Ltd., Instakart Services Private Limited, Glovoapp23 SL, PT Application Karya Anak Bangsa, FedEx Corp., Walmart Inc., Getir UK Limited, Amazon.com Inc., DHL International GmbH, DoorDash Inc., and Uber Technologies Inc.
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