India Two-Wheeler Market: Growth Prospects and Sizing Forecast to 2028Posted by Kumar on October 25th, 2023 Introduction The Indian two-wheeler market, as explored in TechSci Research's report "India Two-Wheeler Market-Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F," is experiencing a significant upswing, driven by factors such as low maintenance, superior fuel efficiency, and the agility required to navigate the congested Indian terrain. This comprehensive analysis uncovers the various facets of this burgeoning market, highlighting key trends, growth projections, and the driving forces propelling its expansion. Factors Driving the Indian Two-Wheeler Market Low Maintenance and Fuel Efficiency The Indian two-wheeler market is poised for remarkable growth, with an anticipated value of USD 26,638.49 million by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 9.88%. This surge can be attributed to the practicality and cost-effectiveness of two-wheelers. They offer a compelling solution for daily commuting, adeptly navigating congested areas, and providing superior fuel efficiency. Shared Mobility The rising popularity of shared mobility has further boosted the two-wheeler market in India. Many individuals are turning to two-wheelers for their daily commute due to their ability to circumvent traffic congestion, attain higher speeds, and provide a cost-effective means of transportation. Technological Advancements Two-wheeler manufacturers have evolved and adapted to the challenges posed by pollution and stringent emission standards in India. They have introduced innovations like fuel injection and slippery clutch technology, enhancing both performance and fuel efficiency. These advancements also improve the overall functionality of the vehicles, ensuring stability during rides and safeguarding the gearbox, thereby delivering a smoother experience on India's diverse terrains. Affordable Financing and Maintenance The availability of affordable loans and cost-effective maintenance options has made two-wheelers increasingly accessible to a broader demographic. This factor plays a pivotal role in the growing adoption of these vehicles. Delivery Services E-commerce and food delivery giants are increasingly utilizing two-wheelers as the mode of choice for quick and efficient deliveries. Their hassle-free mobility and speed align perfectly with the swift delivery commitments of these industries. Electric Vehicles The introduction of electric two-wheelers has also fueled demand, driven by their cost-effectiveness, connectivity features, and improved performance dynamics. Government initiatives, including subsidies under FAME II and state-level EV policies, encourage the widespread adoption of electric two-wheelers. Furthermore, the introduction of the battery swapping policy aims to build the necessary infrastructure for electric vehicles, fostering optimism for increased demand in this segment. 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 Segmentation of the Indian Two-Wheeler Market Vehicle Type The Indian two-wheeler market can be categorized based on vehicle type. Currently, motorcycles dominate the market, accounting for the majority of the total market share due to their power, aesthetics, and stable wheel performance. However, the scooter/moped segment is also expected to grow significantly at a CAGR of 10.39% by 2028. This growth is attributed to the increasing number of female riders and the expanded storage capacity of these vehicles. Transmission Type In terms of transmission type, manual transmission currently prevails in the overall Indian two-wheeler market, claiming over 60% of the total market share. Emerging players in the industry introduce advanced technology, offering better fuel efficiency, speed, versatility, and high overall performance, thus driving the dominance of manual transmission. Propulsion Type Internal combustion engines dominate the Indian two-wheeler market, accounting for over 90% of the market share. This is due to the availability of raw materials, established infrastructure, and limited substitutes in this segment. The forecast suggests that this trend will persist, as the adoption of electric engines and associated infrastructure will require time to mature. Regional Presence Regionally, the western part of India hosts the highest concentration of two-wheelers. Heavy traffic, a dense population, and relatively higher per capita income contribute to the strong presence of two-wheelers in this region. Who Will Benefit from This Report?
In conclusion, the Indian two-wheeler market is experiencing robust growth, offering numerous opportunities for a wide range of stakeholders. This report serves as an invaluable resource for comprehending the industry's various dimensions, making it an essential tool for those engaging with or seeking insights into this thriving sector. Some of the major players operating in the India Two Wheeler Market include:
Customers can also request for 10% free customization on this report. “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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