India Used Two Wheeler (2W) Industry- Growth and Analysis, Market Size, Shares, Sales: Ken Research
The online used two-wheeler market has been emerging with the rise in the popularity of e-commerce platforms in the country. Online platforms such as Flipkart, Amazon and Snapdeal have enabled India users to trust online platforms and make high value transactions online using their debit/credit cards and net banking. The growth of online advertising, which has fuelled the rise of online classified platforms such as Droom, OLX, Quikr and others have revolutionized the way in which pre-owned vehicles have been sold in the country. The online used two-wheeler market grew from INR ~ Crores in FY'2015 to INR ~ Crore in FY'2021. With the growth in the number of vehicles sold online, these players not only witnessed a sharp growth in marketplace revenue but also from other sources including advertisements, subscriptions and other value added services.
Comparative Landscape in India Used Two Wheeler Market
India used two wheelers market competition structure was observed to be highly fragmented with the presence of large number of local dealers, small mechanics and individual sellers, thus making ~ % unorganized market space in the FY'2021.
~ % of the used two wheelers market in terms of sales volume was observed to be unorganized which comprises of individual sellers, local mechanics and small dealerships. Whereas the remaining ~ % of the market constitutes of the organized players such as Droom, Honda Best Deal, CredR, BikeDekho.com, Mahindra First Choice Wheels Limited (MFCWL) and others. Certification and authentication, brand, price, mileage and performance, engine quality/power and total number of dealers are some of the critical parameters on the basis of which companies compete in the organized segment.
Need for Franchise Model: Widening Reach à Automotive companies focusing on expanding reach (online & offline) for customers to access the branches near them & therefore connect better. With demand increasing from Tier 2 and Tier 3 cities, it becomes difficult to establish showrooms therefore franchisee model becomes more cost effective.
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Impact of COVID on India Used Two Wheeler Market
Sudden spike in demand post lockdown can be attributed to consumers shifting from market segments of new bikes/shared mobility to used vehicles; majorly observed in Tier 1 & Tier 2 cities. While a surge in demand was seen during Unlock 1, increase in supply was not seen Owing to cash crunch, people retained their vehicles thereby avoiding shifting to new vehicle purchase for a while.
India Used Two Wheeler Market Future Outlook and Projections
India Used Two Wheeler Market is expected to grow in the coming years as used vehicles are much cheaper to purchase than a new one, since the introduction of BS VI Standards. Projections for the future suggest that the overall market for used two wheelers in India is likely to showcase a vibrant growth from ~ million units of sales volume in FY'2021 to ~ million units of sales volume in FY'2026. Individuals mostly in smaller cities and towns who wish to own a vehicle begin with buying a second hand two-wheeler to get hold of it. Similar is the case of women drivers who prefer purchasing a pre-owned vehicle to learn driving before they actually purchase a new vehicle.
Key Segments Covered in India Used Two Wheeler Market, FY'2021:-
By Type of Market
By Sales Channel
By Type of Bike
By Engine Capacity
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By Replacement Cycle
2 years-4 years
4 years-5 years
5 years - 6 years
Key Target Audience:-
Two Wheeler OEM's
Two Wheeler Dealers
Online Portals (Aggregators/Marketplace Platform)
Online Classified Platforms
E-Commerce & Hyperlocal Companies
Private Equity Investors
Time Period Captured in the Report:-
Historical Period: FY'2015-FY'2021
Forecast Period: FY'2021-FY'2025
Organized Used 2W Companies
Honda Best Deal
Mahindra First Choice
Suzuki Best Value
Royal Enfield Vintage
Online Used 2W Platforms
Key Topics Covered in the Report:-
Market size of India used two wheeler market
Market size of India online used two wheeler market
Value chain in India used two wheeler market
Market segmentation of India used two wheeler market on the basis of market structure, stock piece & customized vehicle, distribution channels, source of
Manufacturing, type of two-wheeler, engine capacity, average ownership period, by manufacturer, body type, certification and financed & non-financed vehicle.
Trends and Developments in India used two wheeler market
Growth Drivers and Restraints in India used two wheeler market
SWOT analysis in India used two wheeler market
Pre-Requisites to Enter the India used two wheeler market
Government Regulations in India used two wheeler market
Major players and their business models
Customer Profile in India used two wheeler market
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Ankur Gupta, Head Marketing & Communications
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