이륜차 보험 시장 규모, 점유율, 성장 - 업계 분석, 지역별 동향 및 예측(2026-2034년)

Growth Factors of two-wheeler insurance Market

The global two-wheeler insurance market size was valued at USD 42.30 billion in 2025. The market is projected to grow from USD 45.05 billion in 2026 to USD 74.44 billion by 2034, exhibiting a CAGR of 6.5% during 2026-2034. Asia Pacific dominated the global market with a 57.11% share in 2025, supported by high motorcycle and scooter ownership, mandatory third-party insurance requirements, growing delivery fleets, and wider adoption of digital insurance platforms.

Two-wheeler insurance provides financial protection for motorcycles, scooters, and mopeds against accidents, theft, third-party liability, fire, natural disasters, and other vehicle-related risks. The market includes third-party liability policies, comprehensive bike insurance, add-on covers, and broader vehicle protection plans for personal and commercial riders.

Two-Wheeler Insurance Market Trends

A major market trend is the growing adoption of connected and usage-based insurance models. These products can price policies according to distance travelled, riding behavior, vehicle usage, and risk exposure. Such models can improve premium personalization, reward safer riders, and help insurers strengthen fraud detection and claims management.

In January 2025, Allianz highlighted how connected platforms can detect motor incidents in real time and initiate repair, assistance, and claims support.

Market Drivers

The key market driver is rising two-wheeler ownership combined with mandatory liability insurance regulations. Motorcycles and scooters remain affordable transportation options across emerging economies and are widely used for daily commuting, rural mobility, and last-mile delivery.

In April 2025, SIAM reported sales of 4,567,762 two-wheelers during January-March 2025 in India, underlining the country's large insurable vehicle base.

Market Restraints and Challenges

Rising insurance premiums and repair costs may restrict market expansion. Higher spare part prices, labor expenses, theft claims, and accident repair costs can push premiums upward, encouraging price-sensitive riders to select only basic third-party policies instead of comprehensive coverage.

Fraud and weak insurance compliance are also major challenges. Staged accidents, manipulated damage claims, uninsured riding, and false documentation increase claim expenses and force insurers to invest in AI-based fraud detection, garage verification, and stronger risk assessment systems.

Market Opportunities

The expansion of digital and embedded insurance models provides substantial opportunities. Online quotations, instant issuance, app-based renewals, and dealer-linked insurance can simplify policy purchases and improve access.

These channels are particularly attractive for young urban consumers and digitally active riders. Insurers can also partner with OEMs, dealerships, financial companies, and digital platforms to bundle insurance with vehicle purchases and financing.

Segmentation Analysis

By two-wheeler type, motorcycles dominated in 2025 due to their larger ownership base and broad use across commuting, rural transport, and commercial delivery. The scooters segment is projected to grow at a CAGR of 7.6%.

By distribution channel, intermediary sales dominated the market, supported by agents, brokers, dealerships, banks, OEM partners, and aggregators. Direct sales are expected to grow at a 7.9% CAGR.

By policy tenure, short-term policies led the market, reflecting the popularity of annual renewals. Long-term policies are projected to record a higher 9.7% CAGR.

By end user, personal users held the largest share, while the commercial segment is projected to grow at a CAGR of 8.4%.

Regional Outlook

Asia Pacific dominated the market with a value of USD 24.16 billion in 2025. India reached USD 6.51 billion, while China generated USD 5.30 billion in 2025.

Europe is projected to reach USD 9.87 billion in 2026, supported by compulsory motor insurance and increasing electric two-wheeler adoption. Germany was valued at USD 2.02 billion in 2025, while France reached USD 1.82 billion.

The U.S. market reached USD 3.32 billion in 2025, supported by recreational motorcycle ownership, theft coverage, and mature insurance penetration.

South America is expected to grow mainly through Brazil, while Middle East & Africa demand will be supported by urbanization, motorcycle taxi activity, delivery fleets, and expanding digital insurance access.

Competitive Landscape

Major companies include Allianz SE, AXA SA, Zurich Insurance Group, Aviva, MAPFRE, Generali Group, State Farm, GEICO, Progressive Corporation, Liberty Mutual, Allstate, Tokio Marine, Sompo Holdings, and MS&AD Insurance Group. Competition increasingly centers on digital distribution, faster claims processing, embedded insurance, telematics, pricing accuracy, and customer retention.

Key Industry Developments

In March 2026, Principal Insurance acquired Europa Group, strengthening its motorcycle insurance broking presence in the U.K. In December 2025, Ather Energy announced plans to enter auto insurance distribution in India. In August 2025, ICICI Lombard partnered with Mahindra Finance to distribute motor insurance products. In March 2025, PhonePe launched vehicle insurance comparison and purchase services through its app.

Conclusion

The two-wheeler insurance market is expected to grow from USD 42.30 billion in 2025 to USD 45.05 billion in 2026 and USD 74.44 billion by 2034, at a CAGR of 6.5% during 2026-2034. Growth will be supported by rising two-wheeler ownership, mandatory liability rules, delivery fleet expansion, digital insurance platforms, embedded distribution, and usage-based insurance models. However, rising repair costs, affordability pressure, fraud, and weak renewal compliance may restrain market growth. Asia Pacific is expected to retain its dominant position due to its large two-wheeler population and expanding insurance penetration.

Segmentation By Two-Wheeler Type, Distribution Channel, Policy Tenure, End User, and Region

By Two-Wheeler Type

• Motorcycles
• Scooters
• Mopeds

By Distribution Channel

• Direct Sales
• Intermediary Sales

By Policy Tenure

• Short-Term
• Long-Term

By End User

• Personal
• Commercial

By Region

• North America (By Two-Wheeler Type, Distribution Channel, Policy Tenure, End User, and Country)
  • U.S. (By Two-Wheeler Type)
  • Canada (By Two-Wheeler Type)
  • Mexico (By Two-Wheeler Type)
• Europe (By Two-Wheeler Type, Distribution Channel, Policy Tenure, End User, and Country)
  • Germany (By Two-Wheeler Type)
  • U.K. (By Two-Wheeler Type)
  • France (By Two-Wheeler Type)
  • Italy (By Two-Wheeler Type)
  • Spain (By Two-Wheeler Type)
  • Rest of Europe (By Two-Wheeler Type)
• Asia Pacific (By Two-Wheeler Type, Distribution Channel, Policy Tenure, End User, and Country)
  • China (By Two-Wheeler Type)
  • India (By Two-Wheeler Type)
  • Indonesia (By Two-Wheeler Type)
  • Vietnam (By Two-Wheeler Type)
  • Thailand (By Two-Wheeler Type)
  • Rest of Asia Pacific (By Two-Wheeler Type)
• South America (By Two-Wheeler Type, Distribution Channel, Policy Tenure, End User, and Country)
  • Brazil (By Two-Wheeler Type)
  • Argentina (By Two-Wheeler Type)
  • Rest of South America (By Two-Wheeler Type)
• Middle East & Africa (By Two-Wheeler Type, Distribution Channel, Policy Tenure, End User, and Country)
  • UAE (By Two-Wheeler Type)
  • South Africa (By Two-Wheeler Type)
  • Rest of Middle East & Africa (By Two-Wheeler Type)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions and Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities
• 3.4. Market Trends
• 3.5. Market Challenges

4. Key Insights

• 4.1. Key Industry Developments - Mergers, Acquisitions & Partnerships
• 4.2. Latest Technological Advancements
• 4.3. Porters Five Forces Analysis
• 4.4. Regulatory Landscape
• 4.5. Impact of Tariffs on Global Two-Wheeler Insurance Market

5. Global Two-Wheeler Insurance Market Analysis, Insights and Forecast, 2021-2034

• 5.1. Key Findings / Definition
• 5.2. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 5.2.1. Motorcycles
  • 5.2.2. Scooters
  • 5.2.3. Mopeds
• 5.3. Market Analysis, Insights and Forecast - By Distribution Channel
  • 5.3.1. Direct Sales
  • 5.3.2. Intermediary Sales
• 5.4. Market Analysis, Insights and Forecast - By Policy Tenure
  • 5.4.1. Short-Term
  • 5.4.2. Long-Term
• 5.5. Market Analysis, Insights and Forecast - By End User
  • 5.5.1. Personal
  • 5.5.2. Commercial
• 5.6. Market Analysis, Insights and Forecast - By Region
  • 5.6.1. North America
  • 5.6.2. Europe
  • 5.6.3. Asia Pacific
  • 5.6.4. South America
  • 5.6.5. The Middle East & Africa

6. North America Two-Wheeler Insurance Market Analysis, Insights and Forecast, 2021-2034

• 6.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 6.1.1. Motorcycles
  • 6.1.2. Scooters
  • 6.1.3. Mopeds
• 6.2. Market Analysis, Insights and Forecast - By Distribution Channel
  • 6.2.1. Direct Sales
  • 6.2.2. Intermediary Sales
• 6.3. Market Analysis, Insights and Forecast - By Policy Tenure
  • 6.3.1. Short-Term
  • 6.3.2. Long-Term
• 6.4. Market Analysis, Insights and Forecast - By End User
  • 6.4.1. Personal
  • 6.4.2. Commercial
• 6.5. Market Analysis, Insights and Forecast - By Country
  • 6.5.1. U.S.
    • 6.5.1.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 6.5.2. Canada
    • 6.5.2.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 6.5.3. Mexico
    • 6.5.3.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type

7. Europe Two-Wheeler Insurance Market Analysis, Insights and Forecast, 2021-2034

• 7.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 7.1.1. Motorcycles
  • 7.1.2. Scooters
  • 7.1.3. Mopeds
• 7.2. Market Analysis, Insights and Forecast - By Distribution Channel
  • 7.2.1. Direct Sales
  • 7.2.2. Intermediary Sales
• 7.3. Market Analysis, Insights and Forecast - By Policy Tenure
  • 7.3.1. Short-Term
  • 7.3.2. Long-Term
• 7.4. Market Analysis, Insights and Forecast - By End User
  • 7.4.1. Personal
  • 7.4.2. Commercial
• 7.5. Market Analysis, Insights and Forecast - By Country
  • 7.5.1. Germany
    • 7.5.1.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 7.5.2. France
    • 7.5.2.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 7.5.3. Italy
    • 7.5.3.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 7.5.4. U.K.
    • 7.5.4.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 7.5.5. Spain
    • 7.5.5.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 7.5.6. Rest of Europe
    • 7.5.6.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type

8. Asia Pacific Two-Wheeler Insurance Market Analysis, Insights and Forecast, 2021-2034

• 8.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 8.1.1. Motorcycles
  • 8.1.2. Scooters
  • 8.1.3. Mopeds
• 8.2. Market Analysis, Insights and Forecast - By Distribution Channel
  • 8.2.1. Direct Sales
  • 8.2.2. Intermediary Sales
• 8.3. Market Analysis, Insights and Forecast - By Policy Tenure
  • 8.3.1. Short-Term
  • 8.3.2. Long-Term
• 8.4. Market Analysis, Insights and Forecast - By End User
  • 8.4.1. Personal
  • 8.4.2. Commercial
• 8.5. Market Analysis, Insights and Forecast - By Country
  • 8.5.1. China
    • 8.5.1.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 8.5.2. India
    • 8.5.2.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 8.5.3. Thailand
    • 8.5.3.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 8.5.4. Indonesia
    • 8.5.4.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 8.5.5. Vietnam
    • 8.5.5.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 8.5.6. Rest of Asia Pacific
    • 8.5.6.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type

9. South America Two-Wheeler Insurance Market Analysis, Insights and Forecast, 2021-2034

• 9.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 9.1.1. Motorcycles
  • 9.1.2. Scooters
  • 9.1.3. Mopeds
• 9.2. Market Analysis, Insights and Forecast - By Distribution Channel
  • 9.2.1. Direct Sales
  • 9.2.2. Intermediary Sales
• 9.3. Market Analysis, Insights and Forecast - By Policy Tenure
  • 9.3.1. Short-Term
  • 9.3.2. Long-Term
• 9.4. Market Analysis, Insights and Forecast - By End User
  • 9.4.1. Personal
  • 9.4.2. Commercial
• 9.5. Market Analysis, Insights and Forecast - By Country
  • 9.5.1. Brazil
    • 9.5.1.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 9.5.2. Argentina
    • 9.5.2.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 9.5.3. Rest of South America
    • 9.5.3.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type

10. The Middle East & Africa Two-Wheeler Insurance Market Analysis, Insights and Forecast, 2021-2034

• 10.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 10.1.1. Motorcycles
  • 10.1.2. Scooters
  • 10.1.3. Mopeds
• 10.2. Market Analysis, Insights and Forecast - By Distribution Channel
  • 10.2.1. Direct Sales
  • 10.2.2. Intermediary Sales
• 10.3. Market Analysis, Insights and Forecast - By Policy Tenure
  • 10.3.1. Short-Term
  • 10.3.2. Long-Term
• 10.4. Market Analysis, Insights and Forecast - By End User
  • 10.4.1. Personal
  • 10.4.2. Commercial
• 10.5. Market Analysis, Insights and Forecast - By Country
  • 10.5.1. UAE
    • 10.5.1.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 10.5.2. South Africa
    • 10.5.2.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type
  • 10.5.3. Rest of the Middle East & Africa
    • 10.5.3.1. Market Analysis, Insights and Forecast - By Two-Wheeler Type

11. Competitive Analysis

• 11.1. Key Industry Developments
• 11.2. Global Market Rank Analysis (2025)
• 11.3. Competitive Dashboard
• 11.4. Comparative Analysis - Major Players
• 11.5. Company Profiles
  • 11.5.1. Allianz SE (Germany)
  • 11.5.2. AXA SA (France)
  • 11.5.3. Zurich Insurance Group (Switzerland)
  • 11.5.4. Aviva plc (U.K.)
  • 11.5.5. MAPFRE S.A. (Spain)
  • 11.5.6. Generali Group (Italy)
  • 11.5.7. State Farm Mutual Automobile Insurance Company (U.S.)
  • 11.5.8. GEICO, Berkshire Hathaway Inc. (U.S.)
  • 11.5.9. Progressive Corporation (U.S.)
  • 11.5.10. Liberty Mutual Insurance Company (U.S.)
  • 11.5.11. The Allstate Corporation (U.S.)
  • 11.5.12. Intact Financial Corporation (Canada)
  • 11.5.13. Tokio Marine Holdings, Inc. (Japan)
  • 11.5.14. Sompo Holdings, Inc. (Japan)
  • 11.5.15. MS&AD Insurance Group Holdings, Inc. (Japan)