Press release
India Two Wheeler Market Size Worth 48.1 Million Units by 2028 | CAGR 17.80%
Report Highlights
How big is the India two-wheeler market?
The India two-wheeler market size reached a volume of 18 Million Units in 2022. Looking forward, IMARC Group expects the market to reach a volume of 48.1 Million Units by 2028, exhibiting a growth rate (CAGR) of 17.80% during 2023-2028.
What is India two-wheeler?
Two-wheelers are a popular mode of transportation for short distances, especially in congested areas where maneuverability is essential. This category includes motorcycles, mopeds, scooters, and other similar vehicles, which can be either manually operated or powered by fuel and electric motors. Two-wheelers cater to various purposes such as cruising, long-distance travel, racing, and off-road riding. They offer numerous advantages such as their compact design, affordability, and excellent fuel efficiency. Additionally, they require minimal maintenance, resulting in reduced operational costs compared to four-wheeler vehicles. As a result, two-wheelers are gaining significant popularity throughout India.
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What are the growth prospects and trends in the India two-wheeler?
The growth of the working women population and the increasing trend of vehicle ownership are the primary drivers of the two-wheeler market in India. Furthermore, the demand for compact mobility solutions is on the rise due to challenges such as limited parking spaces and traffic congestion, which further contributes to the market's growth. The popularity of two-wheelers is also soaring due to their numerous benefits, including easy financing options, convenient travel for short distances, and affordability, among others.
Additionally, the growing number of solo or group bikers exploring different destinations and the need for fuel-efficient transportation options are propelling the market's expansion nationwide. Government initiatives aimed at providing subsidies or incentives to low-income consumers for purchasing two-wheelers are also playing a significant role in stimulating market growth. Moreover, the introduction of hybrid bikes and scooters is expected to further fuel the growth of the two-wheeler market in India throughout the forecast period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights
• Scooters
• Mopeds
• Motorcycle
• Electric Two-Wheeler
Technology Insights
• ICE
• Electric
Transmission Insights
• Manual
• Automatic
Engine Capacity Insights
• 1600cc
Fuel Type Insights
• Gasoline
• Petrol
• Diesel
• LPG/CNG
• Battery
End-User Insights
• Personal
• Commercial
Distribution Channel Insights
• Offline Channels
• Online Channels
Breakup by Geography:
• North India
• West and Central India
• East India
• South India
Who are the key players operating in the industry?
The report covers the major market players including:
• Bajaj Auto Ltd.
• Hero MotoCorp Ltd.
• Honda Motorcycle & Scooter India Pvt. Ltd.
• Maruti Suzuki India Limited
• TVS Motor Company
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If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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