India Two-Wheeler Market Share 2024 | Size, Trends, Demand and Forecast 2032
India Two-Wheeler Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 16.29% (2024-2032)
The rising demand for affordable personal transportation options among individuals is propelling the market growth. The India two-wheeler market size reached 21.4 Million Units in 2023. Looking forward, IMARC Group expects the market to reach 86.4 Million Units by 2032, exhibiting a growth rate (CAGR) of 16.29% during 2024-2032.
India Two-Wheeler Industry Trends and Drivers:
The Indian two-wheeler market is driven by a confluence of economic, demographic, and environmental factors. One of the primary drivers is the country's increasing middle-class population. Two wheelers, especially motorcycles and scooters, offer an economical alternative to cars, making them an attractive choice for daily commuting in both urban and rural areas. The growing demand for two wheelers due to rapid urbanization is offering a favorable market outlook. With increasing traffic congestion and limited parking space in cities, motorcycles and scooters provide a convenient and time-saving mode of transport. Additionally, the increasing utilization of two wheelers among people with busy lifestyles seeking convenient transportation solutions is bolstering the market growth in India. People are increasingly preferring two wheelers because of their affordability, fuel efficiency, and ease of use. Apart from this, the rising adoption of electric vehicles (EVs) in the two-wheeler segment is another significant driver in the country.
Governing agencies in India are focusing on reducing carbon emissions and promoting clean energy. They are providing various incentives and subsidies to encourage the adoption of cleaner transportation solutions. They are also enforcing stricter emission norms, such as the Bharat Stage VI (BS-VI), which is catalyzing the demand for two wheelers that comply with these standards. This shift toward electrification is also supported by advancements in battery technology and the development of charging infrastructure, which is helping to address range anxiety among consumers. In addition, increasing preferences for technologically advanced two wheelers, including features like anti-lock braking systems (ABS), connected devices, and fuel-efficient engines, is contributing to the market growth. Furthermore, the presence of domestic and international players in the Indian two-wheeler market ensures a competitive landscape, leading to innovations in design, pricing, and after-sales service.
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India Two-Wheeler Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Scooters
- Mopeds
- Motorcycle
- Electric Two-Wheeler
Breakup by Technology:
- ICE
- Electric
Breakup by Transmission:
- Manual
- Automatic
Breakup by Engine Capacity:
- <100cc
- 100-125cc
- 126-180cc
- 181-250cc
- 251-500cc
- 501-800cc
- 801-1600cc
- >1600cc
Breakup by Fuel Type:
- Gasoline
- Petrol
- Diesel
- LPG/CNG
- Battery
Breakup by End User:
- Personal
- Commercial
Breakup by Distribution Channel:
- Offline Channels
- Online Channels
Breakup by Region:
- North India
- West and Central India
- East India
- South India
Competitive Landscape:
- Bajaj Auto Ltd.
- Hero MotoCorp Ltd.
- Honda Motorcycle & Scooter India Pvt. Ltd.
- Maruti Suzuki India Limited
- TVS Motor Company
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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