India Two-Wheeler Sharing Market Report by Vehicle Type, Geographical Outlook, Size, Share Analysis and Growth Forecast to 2024
Based on vehicle type, the Indian two-wheeler sharing market is categorized into motorcycle/scooter and bicycle. Between these two, the motorcycle/scooter category is dominating the market. The long-range connectivity of motorcycles and scooters with higher speed compared to bicycles is being preferred by customers, thereby leading to the growth of this category. However, bicycle sharing is expected to grow significantly during the forecast period. Many new start-ups and investors have been looking at introducing an efficient and scaled-up bicycle sharing concept in India; a few private players have already entered the market, due to which the category is expected to grow considerably in the coming years.
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The motorcycle/scooter category is further categorized into e-hailing and rental service. Between these two, e-hailing is the faster-growing category in the Indian two-wheeler sharing market. Many two-wheeler e-hailing companies have started operating in major tier 1 and tier 2 cities across the country with the objective of getting the first-mover advantage. Apart from e-hailing, the motorcycle/scooter rental category is also growing at a significant rate. The motorcycle/scooter rental market in India is mostly backed by the road-trip tourism industry. To make the bike renting process hassle-free, vendors have introduced easy rental plans, mostly on hourly and daily basis. Though, over the years, motorcycle/scooter renting has progressed significantly, it is yet to fully explore the massive potential available in the country.
Based on region, the market is categorized into north, south, west, and east. Among these regions, south contributed a significant revenue in 2018 in the Indian two-wheeler sharing market. Most of the start-ups and other players entering the market are based in the southern region, and most of these companies have started their operations from cities such as Bengaluru, Hyderabad, and Chennai, thereby benefiting the market in this region.
The government’s growing concern about the highly polluted environment has encouraged two-wheeler sharing companies to deploy a larger fleet of shared two-wheelers in many cities. In addition, the online facility of booking motorcycle/scooter of the user’s choice is a major driver for the growing use of motorcycle/scooter rental services. Many offline motorcycle rental service providers are planning to go online and offer customized travel packages to attract more people to use their services. This is making two-wheeler sharing more convenient and accessible for customers, thereby further driving the Indian two-wheeler sharing market.
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The Indian two-wheeler sharing market has witnessed the entry of several start-ups in recent years, most of which are in search of funding support. The major two-wheeler taxi service providers are ANI Technologies Pvt. Ltd. (Ola Bike), Uber Technologies Inc. (Uber Moto), Rapido, and MhV Pvt. Ltd. (Bikxie) among others. The major companies for two-wheelerrental services in India are Vogo Automotive Pvt. Ltd., Bashar Technologies Pvt. Ltd. (Wheelstreet), RentOnGo, Motocruizer Technologies India Pvt. Ltd. (Onn Bikes), Royalbison Autorentals India Pvt. Ltd. (Royal Brothers), ZipHop Technologies Pvt. Ltd., Drivezy India Travels Pvt. Ltd., and WickedRide Adventure Services Pvt. Ltd. (Bounce). The currently present two-wheeler bicycle sharing companies in India are Yulu Bikes Pvt. Ltd., Bycyshare Technologies Pvt. Ltd. (Mobycy), and Greenolution Pvt. Ltd.
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