India Two Wheeler Market (2023-2029) | Size, Outlook, Forecast, Companies, Revenue, Trends, Share, Growth, Value, Industry, COVID-19 IMPACT & Analysis

Topics Covered in the India Two-Wheeler Market

India Two-Wheeler Market report thoroughly covers the market by vehicle type and by engine capacity. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Two-Wheeler Market Synopsis

India Two-Wheeler Market is estimated to surge in the coming years due to increasing consumer preference for affordable and fuel-efficient modes of transport. Growing urbanization and improved economic conditions are expected to drive the growth of the Indian two-wheeler market in the coming years. The growing adoption of electric vehicles is also anticipated to augment the demand for two-wheelers in India during this forecast period. Furthermore, various government initiatives such as tax exemptions, and subsidies on electric vehicles will further propel sales of two-wheelers in India over the coming years.

According to 6Wresearch, theTwo-Wheeler Market size in India is estimated to expand at a CAGR of around 17.82% during the forecast period 2023-2029 and it will reach the volume of 48.4 Million. The market growth is influenced by various growing aspects such as rapid urbanization, increasing electric two wheeler mobility, and increasing demand by the rural population. The rising economic growth and income levels have resulted in increased consumer spending, especially in the middle-class segment. This has surged two-wheeler demand across the country as an affordable and convenient mode of transportation. Two-wheelers, especially motorcycles and scooters, are known for their fuel efficiency. With fuel prices being a concern for many Indian consumers, two-wheelers provide a cost-effective means of transportation. The rising demand for two-wheelers in rural areas has seen owing to improved road infrastructure, and connectivity to nearby towns and markets. This factor is estimated to India two-wheeler market share in the country in the upcoming years. Many manufacturers are integrating connected features like GPS navigation, smartphone connectivity, and app-based services into their two-wheelers, which enhances the overall riding experience, leading to high two-wheeler adoption.

COVID-19 influence on the India Two-Wheeler Market

The COVID-19 had left an adverse impact on the India Two-Wheeler Market growth. As the pandemic cause the major interruption in sourcing raw materials led to a delay in the manufacturing process. In addition to this, people were only spending on the essential items due to facing financial constraints. Also, with the financial instability had delayed the people purchasing decision for two wheelers. This had resulted in a major decline in the product demand simultaneously market shares.

Major Players in Two-Wheeler Industry in India

Some of the major players operating in the market are mentioned below in the list:

• Hero MotoCorp
• Bajaj Auto
• TVS Motor Company
• Royal Enfield
• Suzuki Motorcycle India
• Yamaha Motor India

Government Initiatives introduced in the India Two-Wheeler Market

India two-wheeler industry analysis research report reflects a massive growth of the market in the country with the introduction of favourable government policies. For instance, Bharat Stage (BS) Emission Standards launched by the government to reduce the GHG emission releases by the vehicles. Manufacturers are required to adhere to these standards, which have become progressively stricter over the years. The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) India scheme was launched for promoting the adoption of electric and hybrid vehicles, which include electric two-wheelers. The scheme facilitates incentives and subsidies to both manufacturers and consumers to make EVs more affordable. The government offers incentives and subsidies for electric two-wheelers to encourage their adoption, contributing to the market expansion.

Market Analysis by Vehicle Type

According to Ravi Bhandari, Research Head, 6Wresearch, Both the motorcycle and scooter segments have their own dedicated customer bases. Nevertheless, motorcycle adoption is increasing in the country with the rising motorcycle users and moto vloggers.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Two Wheeler Market Outlook
• Market Size of India Two Wheeler Market, 2022
• Forecast of India Two Wheeler Market, 2029
• Historical Data and Forecast of India Two Wheeler Revenues & Volume for the Period 2019 - 2029
• India Two Wheeler Market Trend Evolution
• India Two Wheeler Market Drivers and Challenges
• India Two Wheeler Price Trends
• India Two Wheeler Porter's Five Forces
• India Two Wheeler Industry Life Cycle
• Historical Data and Forecast of India Two Wheeler Market Revenues & Volume By Vehicle Type for the Period 2019 - 2029
• Historical Data and Forecast of India Two Wheeler Market Revenues & Volume By Motorcycle for the Period 2019 - 2029
• Historical Data and Forecast of India Two Wheeler Market Revenues & Volume By Scooter/Moped for the Period 2019 - 2029
• Historical Data and Forecast of India Two Wheeler Market Revenues & Volume By Engine Capacity for the Period 2019 - 2029
• Historical Data and Forecast of India Two Wheeler Market Revenues & Volume By Up to 125cc for the Period 2019 - 2029
• Historical Data and Forecast of India Two Wheeler Market Revenues & Volume By 126-250cc for the Period 2019 - 2029
• Historical Data and Forecast of India Two Wheeler Market Revenues & Volume By 251-500cc for the Period 2019 - 2029
• Historical Data and Forecast of India Two Wheeler Market Revenues & Volume By Above 500cc for the Period 2019 - 2029
• India Two Wheeler Import Export Trade Statistics
• Market Opportunity Assessment By Vehicle Type
• Market Opportunity Assessment By Engine Capacity
• India Two Wheeler Top Companies Market Share
• India Two Wheeler Competitive Benchmarking By Technical and Operational Parameters
• India Two Wheeler Company Profiles
• India Two Wheeler Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Vehicle Type

• Motorcycle
• Scooter/Moped

By Engine Capacity

• Up To 125cc
• 126-250cc
• 251-500cc
• Above 500cc