IMARC Group’s latest report, titled “India Two-Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the india two-wheeler market witnessed a significant decline in 2020 due to the onset of coronavirus disease (COVID-19) pandemic, which led to several state-wide and national lockdowns in the country. Two-wheeler vehicles mainly include scooters, motorcycles, and mopeds. They are smaller, economical and more affordable as they consume less fuel than three- or four-wheelers. In India, the demand for two-wheelers is gaining traction due to their fuel efficiency, compact design and cost-effectiveness. These vehicles are also the most versatile mode of transportation as they offer easy maneuvering through congested roads.
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.
India Two-Wheeler Market Trends:
In recent years, with the rising environmental concerns about the increasing vehicular pollution levels, individuals are becoming highly inclined toward electric two-wheeler vehicles that emit lower carbon emissions into the environment. The Government of India is also taking several initiatives to promote the adoption of electric and hybrid two-wheelers. Besides this, the rising trend of bikers traveling solo or in a group to different destinations has escalated the demand for two-wheelers. Furthermore, the improving living standards and the increasing number of working women consumers who prefer to travel via personal vehicle have prompted several leading automobile manufacturers to launch specialized vehicles designed to cater to their preferences. Moreover, market players are also introducing new, attractive two-wheeler models equipped with the latest technologies at affordable prices, which is expected to provide a positive outlook to the market. Looking forward, the market is anticipated to revive from 2021 onwards and exhibit moderate growth during 2021-2026.
- Based on the vehicle type, the market has been segmented into motorcycles, scooters, mopeds and electric two-wheelers.
- On the basis of the engine capacity, the market has been classified into <100cc, 100-125cc, 126-180cc, 181-250cc, 251-500cc, 501-800cc, 801-1600cc and >1600cc.
- Region-wise, the market has been divided into North India, East India, West and Central India, and South India.
- The competitive landscape of the market has also been examined, with some of the key players being 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 and Ola Electric Mobility Pvt Ltd.
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