Motorcycle sales in India skyrocketed over the past few years, making the country the biggest motorcycle market in the world overtaking China in 2016 and achieving a record volume of 22.4 million units (including commercial three-wheeler) in 2018. The unavailability of public transportation and growing per capita income have impacted the market significantly because as the per capita income increases, two-wheelers become affordable to people.
According to UnivDatos Market Insights (UMI)’ research report “India Two-Wheeler Market”, the market is expected to witness a CAGR of around 3% growth during the forecast period (2022-2028). This can be mainly attributed to the ease for commuters, unavailability of public transportation, and growing government initiative for the adoption of electric vehicles in India.
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Based on source, India’s 2-wheeler market has been segmented into ICE (Internal Combustion Engine) and E2W (Electric 2-Wheeler). ICE (Internal Combustion Engine) segment accounts for the maximum share with nearly XX million ICE 2-wheeler sold in 2021 while only XX million electric 2-wheeler sold in the same year.
Based on class, India’s 2-wheeler market has been segmented into Economy, Executive, and Premium. The economy was the largest segment in 2021, with almost XX million units sold while the premium segment reached a sales figure of XX million units in 2021.
North India is expected to witness substantial growth during the forecast period
During the forecast period, North America is expected to have a higher CAGR due to an increase in workforce participation and improvement in rural income/disposable income, which have fueled its demand. India is a massive market for two-wheelers which accounts for 70% of the 200 million total vehicles running across the length and breadth of this huge nation. This common man’s commute is also responsible for over 20% of the total CO2 emissions, and about 30% of the particulate emissions in urban areas (PM2.5). Since this segment is bound to grow further, there is an urgent need to switch to a cleaner mode, mainly in the urban areas, as 7 of the 10 most polluted cities across the world are in India.
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According to ‘UnivDatos Market Insights (UMI)’, the key players with a considerable market share operating in India’s Two-Wheeler Market include Hero MotoCorp Ltd, Bajaj Auto Ltd, TVS Motor Company, Honda Motorcycle, and Scooter India, Pvt. Ltd, India Yamaha Motor Pvt. Ltd, Suzuki Motorcycle India, Pvt. Ltd, Mahindra, Royal Enfield Motors Ltd, Piaggio Vehicles Pvt. Ltd, Triumph Motorcycles (India) Pvt. Ltd, Hero Electric, Okinawa, Ather Energy, Ampere Vehicles, Revolt, Ola Electric Mobility. These companies are taking various strategic decisions to increase their market presence and share.
“India Two-Wheeler Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Vehicle Type (Motorcycle, Scooter, and Moped)
2. By Source (Internal Combustion Engine (ICE) and Electric)
3. By Class (Economy, Executive, and Premium)
4. By Region (North India, East India, West India, and South India)
5. By Company (Hero MotoCorp Ltd, Bajaj Auto Ltd, TVS Motor Company, Honda Motorcycle, and Scooter India, Pvt. Ltd, India Yamaha Motor Pvt. Ltd, Suzuki Motorcycle India, Pvt. Ltd, Mahindra, Royal Enfield Motors Ltd, Piaggio Vehicles Pvt. Ltd, Triumph Motorcycles (India) Pvt. Ltd, Hero Electric, Okinawa, Ather Energy, Ampere Vehicles, Revolt, Ola Electric Mobility)
Key questions answered in the study:
1. What are the current and future trends of India’s two-wheeler industry?
2. How the industry has been evolving in terms of vehicle type, source, and class?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for India’s two-wheeler industry?
5. What is the customer orientation, purchase behavior, and expectations from two-wheeler product suppliers across various countries?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 INDIA TWO-WHEELER MARKET COVID-19 IMPACT
6 MARKET INSIGHTS BY VEHICLE TYPE
7 MARKET INSIGHTS BY SOURCE
8 MARKET INSIGHTS BY CLASS
9 MARKET INSIGHTS BY REGION
10 INDIA TWO-WHEELER MARKET DYNAMICS
11 INDIA TWO-WHEELER MARKET OPPORTUNITIES
12 INDIA TWO-WHEELER MARKET TRENDS
13 DEMAND AND SUPPLY SIDE ANALYSIS
14 COMPETITIVE SCENARIO
15 COMPANY PROFILED
16 DISCLAIMER
