India Two-Wheeler Market Trends 2024 | Growth, Share, Size, Demand and Future Scope 2032

IMARC Group, a leading market research company, has recently releases report titled "India Two-Wheeler Market by Type (Scooters, Mopeds, Motorcycle, Electric Two-Wheeler), Technology (ICE, Electric), Transmission (Manual, Automatic), Engine Capacity (1600cc), Fuel Type (Gasoline, Petrol, Diesel, LPG/CNG, Battery), End-User (Personal, Commercial), Distribution Channel (Offline Channels, Online Channels) and, Region 2024-2032." The study provides a detailed analysis of the industry, including the India two-wheeler market share, size, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the India two-wheeler market?

The India two-wheeler market size reached 21.4 Million Units in 2023. Looking forward, IMARC Group expects the market to reach 86.4 Million Units by 2032, exhibiting a growth rate (CAGR) of 16.29% during 2024-2032.

What is a two-wheeler?

A two-wheeler, often referred to as a motorcycle or motorbike, is a motorized vehicle characterized by its two wheels arranged in a tandem configuration. These vehicles are designed primarily for individual transportation and are powered by either internal combustion engines or electric motors. Two-wheelers encompass a diverse range of styles and sizes, catering to various preferences and purposes. Motorcycles, the most common type of two-wheelers, come in different categories like sport, cruiser, touring, and commuter bikes, serving both recreational and everyday commuting needs. Scooters, known for their compact design and automatic transmissions, are popular for urban transportation. Mopeds, with their small engines and pedal-assist feature, offer fuel efficiency for short trips. Electric bikes, or e-bikes, have gained popularity as eco-friendly alternatives with electric motor assistance. Two-wheelers provide an efficient and agile mode of transportation due to their mobility, fuel economy, and versatility. As a result, two-wheelers find extensive applications for personal mobility and urban commuting across India.

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What are the growth prospects and trends in the India two-wheeler?

The India two-wheeler market is primarily driven by the rising demand for affordable and convenient personal transportation options owing to the country's large and growing population and increasing urbanization, making two-wheelers an attractive choice for millions of commuters. Apart from this, the rapid expansion of the middle-class segment and inflating disposable incomes that drive consumer aspirations and purchasing power have escalated the sales of motorcycles and scooters, thereby fostering market growth. Moreover, the introduction of electric two-wheelers due to the government's focus on promoting electric mobility has catalyzed market growth. Besides this, changing consumer preferences, including a shift toward fuel-efficient and eco-friendly vehicles, has accelerated the adoption of two-wheeler offerings. Additionally, the ease of financing options, improved road infrastructure, and the heightened need for last-mile connectivity in both urban and rural areas are other major growth-inducing factors. Furthermore, ongoing technological advancements, including the introduction of connected features and improved safety features that attract tech-savvy consumers, are contributing to market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

Scooters
Mopeds
Motorcycle
Electric Two-Wheeler

Breakup by Technology:

ICE
Electric

Breakup by Transmission:

Manual
Automatic

Breakup by Engine Capacity:

1600cc

Breakup by Fuel Type:

Gasoline
Petrol
Diesel
LPG/CNG
Battery

Breakup by End User:

Personal
Commercial

Breakup by Distribution Channel:

Offline Channels
Online Channels

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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