India Two-Wheeler Market 2018-2028: Regional Analysis and Forecast | Techsci Research

Posted by Kumar on March 9th, 2023

The report highlights the low maintenance, better fuel efficiency, and easy movement in congested areas as the key drivers for the increasing demand for two-wheelers in India. The shared mobility trend is also contributing to the growth of the two-wheeler segment as it offers a cost-effective and fast mode of transportation for daily commuting.

The two-wheeler companies have responded to the Indian pollution conditions and government emission standards by enhancing their technology and safety standards. Fuel injection and slippery clutch technology have been introduced to improve the performance, fuel efficiency, and functionality of the vehicle. The availability of affordable loans and pocket-friendly maintenance options is also driving the adoption of two-wheelers in India. The fast delivery commitment of e-commerce and food giants is another factor contributing to the growth of the segment.

Despite the introduction of electric vehicles, the demand for two-wheelers continues to rise due to their cost-effectiveness, connectivity options, and performance dynamics. The government's subsidies under FAME II and state EV policies are expected to further accelerate the adoption of electric two-wheelers. The battery swapping policy introduced by the government is also aimed at building the necessary infrastructure for electric vehicles, creating an optimistic outlook for the segment's future demand.

Browse more than 35 market data Figures spread through 70 Pages and an in-depth TOC on "India Two-Wheeler Market" - https://www.techsciresearch.com/report/indian-two-wheeler-market/13028.html

The market can be categorized based on vehicle type, transmission type, propulsion type, region, and company.

Currently, the motorcycle segment holds the majority of the Indian two-wheeler market share due to their power, aesthetics, and better wheel stability. However, the scooter/moped segment is projected to grow at a CAGR of 10.39% in terms of value by 2028, driven by an increase in the number of female drivers and storage capacity.

Manual transmission dominates the overall Indian two-wheeler market, holding more than 60% of the total market share, owing to many emerging players with their advanced technology, better fuel efficiency, fast, versatile, and high overall performance. Internal combustion engines hold more than 90% share based on propulsion type due to the availability of raw materials, infrastructure, and fewer substitutes in this segment. The trend is likely to continue during the forecast period as the adoption of electric engines and their infrastructure will take time to nurture in this segment.

Region-wise, the west has the highest presence of two-wheelers due to heavy traffic, population, and per capita income.

Some of the major players operating in the India Two Wheeler Market include:

  • Hero MotoCorp Limited
  • Honda Motorcycle & Scooter India Private Limited
  • Yamaha Motor India Private Limited
  • Eicher’s Motor Limited
  • Bajaj Auto Limited
  • TVS Motor Company
  • Suzuki Motorcycle India, Private Limited
  • Piaggio Vehicles Pvt. Ltd.
  • Hero Electric Pvt. Ltd.
  • Okinawa Autotech Pvt. Ltd.

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“Many companies are investing in advanced technological research and development, which will introduce innovative and technologically advanced products that will not only increase the efficiency but also improve the overall functionality, "said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Two Wheeler Market by Vehicle Type (Motorcycles, Scooters), By Transmission Type (Manual, Automatic), By Propulsion (ICE, Electric), By Region, by top 10 states Competition Forecast & Opportunities, 2018- 2028F, has evaluated the future growth potential of India Two-Wheeler Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India brakepad market.

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Kumar

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Kumar
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