According to the latest report by IMARC Group, titled “India Two Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the india two-wheeler market to reach 42.2 Million Units by 2027, exhibiting a CAGR of 18.6% during 2022-2027.
Two-wheelers refer to vehicles such as motorcycles, mopeds, scooters, bicycles, etc. These vehicles can be manual or run-on fuel- and electric-based motors. Two-wheelers offer several benefits over three or four-wheeled vehicles, including easy maneuverability, lower carbon emissions, cost-effectiveness, higher fuel efficiency, etc. They also reduce the dependency on public transit systems and cut down on travel time.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The growing levels of urbanization and rising disposable incomes of the consumers are primarily driving the demand for two-wheelers in India. Furthermore, the escalating number of female drivers is also augmenting the sales of two-wheelers. Additionally, the increasing environmental concerns towards the high vehicular pollution from heavy-duty automobiles are further propelling the market for two-wheelers. Moreover, in recent years, the emergence of hybrid and electric two-wheelers to reduce carbon emissions is also providing a thrust to the market growth. Besides this, the expanding tourism industry is leading to an increase in two-wheeler rentals, thereby catalyzing the product demand in the country. In the coming years, the emergence of several advanced technologies, such as anti-braking systems, Ride-by-Wire, traction control/wheelie control, etc., will continue to drive the market for two-wheelers in India.
Breakup by Vehicle Type:
- Electric Two Wheeler
Breakup by Engine Capacity:
Breakup by Region:
- North India
- East India
- West and Central India
- South India
Competitive Landscape with Key Player:
- Hero MotoCorp Ltd
- Honda Motorcycle and Scooter India Pvt. Ltd
- TVS Motor Company Limited
- Bajaj Auto Ltd
- Royal Enfield Ltd. India
- Suzuki Motorcycle India Pvt. Ltd
- Yamaha Motor India Pvt. Ltd
- Triumph Motorcycles (India) Private Limited
- BMW India Private Limited
- Ducati India Private Limited
- Ather Energy Pvt. Ltd
- Revolt Motors
- Lohia Auto Industries
- Okinawa Autotech Pvt. Ltd
- Ola Electric Mobility Pvt Ltd
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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