Two-Wheeler Logistics Demand To Boom in Asia-Pacific in Future!by Rahul Gautam Manager
The global two-wheeler logistics market revenue stood at $57,260.0 million in 2020, and it is predicted to rise to $355,631.2 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 20.0% from 2020 to 2030 (forecast period). The major factors driving the expansion of the market are the cost-effectiveness and convenience of these services, surging e-commerce industry, and incorporation of the real-time tracking technology.
In 2020, e-commerce sales accounted for nearly 16% of all retail sales across the world, registering an increment of around 19% from 2019. Further, this share is predicted to rise to 18% by 2021. The e-commerce industry is being propelled by the convenience of online shopping and home delivery and availability of products at great discounts on online platforms. For example, the U.S. Department of Commerce revealed that the total customer expenditure on online shopping stood at $514 billion in 2018, which was 14.2% higher than the one recorded in the previous year.
Furthermore, the logistics and transportation industries are witnessing rapid changes, including the incorporation of the real-time tracking technology. The internet of things (IoT) technology is becoming highly prevalent in several industries, with logistics and transportation being increasingly considered major industries in this regard. Thus, in order to cater to the rising customer requirements, companies are adopting real-time tracking solutions to improve the delivery process. Moreover, real-time visibility allows enterprises to identify various potential problems and address them before escalation.
Depending on vehicle type, the two-wheeler logistics market is divided into motorcycle, scooter, and moped categories. Out of these, the scooter category contributed the highest revenue to the market in the past, and this trend is predicted to continue in the upcoming years as well. This is ascribed to the easy mobility and lightweight of scooters and the existence of ample storage space ¬¬— space beneath the seat and near the front and a front carrier — which are making them ideal for delivery processes.
Geographically, the Asia-Pacific (APAC) region held the largest share in the two-wheeler logistics market in 2020, and it is predicted to be the fastest-growing region throughout the forecast period as well. This is credited to the growing focus of the logistics companies operating in the region on efficient order management through a platform which will help them arrange drivers for deliveries and pickups. Furthermore, the APAC region is witnessing a digital revolution, with some very innovative and advanced technologies penetrating important operations and business processes there.
The players operating in the industry are focusing on collaborations and partnerships to gain a competitive edge. For example, DoorDash Inc. entered into a partnership with PetSmart LLC in June 2021 to enable on-demand delivery of various pet supplies and accessories from over 1,500 PetSmart locations in Puerto Rico, the U.S., and Canada. Likewise, Instacart and The Container Store, a specialty retailer of storage products, initiated a national partnership in May 2021 to offer same-day delivery under an hour to customers from all 93 locations of The Container Store.
Hence, the market will continue growing in the future owing to the rising requirement for better and faster logistics, on account of the booming e-commerce sales all over the world.
Created on Apr 20th 2022 03:39. Viewed 70 times.
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