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Uncovering Two-Wheeler Market Trends in India

Automotive | Dec, 2023

Today, consumers are smart. They are aware of the benefits and cons that come with any purchase. With widespread information available to the consumers at their fingertips, it has given them the liberty to carefully examine and analyse how their purchase can benefit them and prove to be a good ROI over the years. Same is the case with two-wheeler market in India.

In India, the current and future market scenario of two-wheeler market are far beyond promising. Owing to their accessibility and affordability, these vehicles have long been an integral part of India’s mobility ecosystem, accounting for around more than 70 percent of all vehicles. Generally, the adoption of two wheelers in India is dependent on the escalating levels of urbanization, coupled with the inflating disposable incomes of the consumers. Though the COVID 19 pandemic created a lull in the past few years, two-wheeler retail sales are now limping back to normalcy in 2023-24.

According to TechSci Research Report “India Two Wheeler Market - By Vehicle Type (Scooter/Moped, Motorcycles), By Propulsion Type (ICE, Electric), Competition, Forecast & Opportunities, 2019-2029”, India Two Wheeler Market has valued at USD 16.63 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 10.29%. A two-wheeled vehicle, often propelled by an internal combustion engine or an electric motor, is referred to as a two-wheeler. These vehicles comprise several motorbikes, scooters, and moped models, each of which serves a different consumer demographic and function.