Global 2W market to touch 60 million by 2030, Honda targets 50% share: Minoru Kato, Head of Motorcycle Business

Honda Motor Company, Japan’s largest two-wheeler maker, expects the global two-wheeler market to hit 60 million units by the end of the decade, led by the growing Indian market, and Honda expects to garner half of the market share by 2030, the company's top management announced on Tuesday.
 
Addressing the media in Japan, Minoru Kato, Head of Motorcycle Business at Honda Motor Company, said the company is “envisioning further growth in global demand for motorcycles, mainly in the region referred to as the Global South" which consists of: Southwest Asia, whose largest market is India, as well as Indonesia, the Philippines; and Brazil and other Central and South American countries.

The company said that in order to respond to this market growth and increased demand with certainty, Honda will continue introducing more competitive products, pursue carbon neutrality through various measures, including electrification, and further solidify its motorcycle business.

With this expected trend, the industry-wide global motorcycle sales, currently at a scale of 50 million units, is projected to grow to 60 million units by 2030, including electric vehicles. "We have a long-term target to capture a 50% share of the global motorcycle market including electric motorcycles," added Kato. It currently has a share of around 40%.

Honda sells motorcycles worldwide and offers a wide range of products, including commuter models for daily use, large-size models for recreational activities on the weekend, and electric models. 

For the current fiscal year ending March 31, 2025 (FY2025), Honda global motorcycle unit sales are expected to reach 20.2 million units, which is approximately a 40% share of global motorcycle sales. The Asian market, including India, Indonesia, Thailand, and Vietnam, accounts for 85% of global unit sales (17.17 million units), and Japan, Europe and the U.S. markets account for 6% (1.2 million units). In calendar year 2024, Honda motorcycle sales set an all-time record in 37 countries and territories.
 
Honda can currently produce more than 20 million units of motorcycles annually at 37 production facilities in 23 countries and territories and deliver them to customers through more than 30,000 Honda motorcycle dealership locations around the world. It is on track to reach the 500-million-unit milestone for cumulative global motorcycle production.