Two-Wheeler Market- India
Base Year: 2024
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 16.29% (2024-2032)
Market Size in 2023: 21.4 Million Units
Market Size in 2032: 86.4 Million Units
The India two-wheeler market is expanding quickly due to factors like urbanization, affordability, increased demand, and the growing popularity of electric automobiles. According to the latest report by IMARC Group, the 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.
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India Two-Wheeler Market Trends and Drivers:
1. Urbanization Driving Demand for Two-Wheelers
Increased migration to cities for jobs and better living conditions.
Preference for two-wheelers due to affordability and traffic navigation ease.
Low running costs, easy parking, and suitability for narrow streets.
Improved urban infrastructure, like bike lanes and parking spaces.
Rising urban population expected to sustain demand growth.
2. Shift Towards Electric Two-Wheelers
Environmental concerns and rising fuel prices driving EV adoption.
Government incentives, including subsidies and charging infrastructure improvements.
Expanding range of models with advanced battery technologies.
Growing alignment with global sustainability goals.
Sharp rise in electric two-wheeler sales anticipated in 2024.
3. Increased Demand for Premium Two-Wheelers
Economic growth boosting middle-class purchasing power.
Rising interest in feature-rich models with advanced technology.
Focus on safety, comfort, and innovative features like connectivity and navigation.
Influence of social media and digital marketing on young consumers.
Growing trend of personalized two-wheelers reflecting individual tastes.
4. Technological Advancements and Market Evolution
Smart features like connectivity and safety enhancements becoming standard.
Expansion of online platforms simplifying two-wheeler purchases.
Stricter safety regulations ensuring higher product standards.
Increased consumer education fueling demand for sustainable options.
Intense competition fostering innovation and diverse offerings.
India Two-Wheeler Market Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India two-wheeler market growth. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
Breakup by Type:
Scooters
Mopeds
Motorcycle
Electric Two-Wheeler
Breakup by Technology:
ICE
Electric
Breakup by Transmission:
Manual
Automatic
Breakup by Engine Capacity:
<100cc
100-125cc
126-180cc
181-250cc
251-500cc
501-800cc
801-1600cc
>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
Breakup by Region:
North India
West and Central India
South India
East and Northeast India
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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