Two-Wheeler Hand Hold Market to Grow with a CAGR of 3.95% in India through to 2029
The major drivers for the India Two-Wheeler Hand Hold Market
include the high adoption of two-wheelers for daily commuting and the
increasing demand for improved safety and comfort features, driving the market
for hand holds and grips.
According
to TechSci Research report, “India Two-Wheeler Hand Hold Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”,
the India Two-Wheeler Hand Hold Market stood at USD 117 Million in 2023 and is
anticipated to grow with a CAGR of 3.95% in the forecast period, 2024-2029. The two-wheeler handhold market in India is
experiencing remarkable growth, driven by a combination of socio-economic
factors. With a burgeoning middle class and a young demographic profile, the
demand for two-wheelers has surged as an economical and efficient mode of
transportation. Moreover, the rapid pace of urbanization and increasing traffic
congestion have further accelerated the shift towards two-wheelers.
Additionally, the availability of easy finance options has
provided a significant boost to market growth. As consumers have access to
affordable financing, it has become easier for them to purchase two-wheelers,
contributing to the market's expansion. The convenience of installment plans
and low down payment options has made owning a two-wheeler more accessible to a
wider population.
However, the market is not without its challenges. Safety
concerns and environmental issues have emerged as potential constraints. With
an increasing number of accidents involving two-wheelers, there is a growing
need for improved safety measures and awareness campaigns to promote
responsible riding practices. Similarly, the environmental impact of
two-wheelers, particularly in terms of emissions, has raised concerns about
sustainability. Efforts to address these concerns and promote sustainable
practices are crucial for the long-term growth and sustainability of the
market.
Despite these hurdles, the overall outlook for the Indian
two-wheeler handhold market remains positive, driven by innovative product
offerings and technological advancements. Manufacturers are constantly
introducing new features and designs to attract customers and enhance the
overall riding experience. Continuous research and development, along with a
focus on customer needs, will play a pivotal role in shaping the future of this
dynamic market. As the industry evolves, there is potential for further growth
and diversification, catering to the evolving preferences and demands of Indian
consumers.
Furthermore, government initiatives aimed at promoting the
use of electric vehicles have opened up new opportunities for the two-wheeler
market in India. With a focus on reducing carbon emissions and promoting
sustainable transportation, electric two-wheelers have gained traction in
recent years. This shift towards electric mobility has the potential to
revolutionize the market and create a more environmentally friendly
transportation ecosystem.
Browse
over XX market data Figures spread through XX Pages and an in-depth TOC on
"India
Two-Wheeler Hand Hold Market”
India's
two-wheeler market is a bustling hub of activity, teeming with a wide variety
of models and brands catering to a diverse audience. Accounting for
approximately 80% of the automobile industry, the two-wheeler segment is an
essential component of India's economic machinery.
Motorcycles
and scooters are not just ordinary modes of transportation in the country; they
encompass much more. They symbolize not only mobility and independence but also
serve as a reflection of one's financial status. In India's urban areas, where
traffic congestion and insufficient public transportation are persistent
challenges, two-wheelers emerge as a reliable and cost-effective alternative,
providing a convenient and efficient means of commuting. Whether it's
navigating through crowded streets or reaching the desired destination swiftly,
these vehicles offer a practical solution that caters to the needs of many
individuals in the bustling urban landscape.
The
Indian two-wheeler market is largely dominated by a few major players like Hero
MotoCorp, Bajaj Auto, TVS Motors, and Honda Motorcycle & Scooter India
(HMSI). Hero MotoCorp holds the lion's share, with almost half of the market
under its control. These companies continue to introduce innovative products,
focusing on fuel efficiency, design, and advanced features to appeal to the
evolving consumer base.
India's
rural areas have emerged as a significant growth driver for the two-wheeler
market. These areas have witnessed increased two-wheeler adoption due to
improving road infrastructure and rising disposable income. Motorcycles, due to
their robust build and ability to navigate rugged terrains, hold a substantial
share in the rural market.
The
Indian two-wheeler market is also gradually moving towards electric vehicles.
Although electric two-wheelers currently represent a small fraction of the
overall market, their potential for growth is significant. Government
initiatives, such as the FAME-II scheme, designed to promote electric vehicle
adoption, coupled with growing environmental consciousness among consumers, are
expected to fuel this growth.
The
market for hand holds, an important safety feature in two-wheelers, is also
evolving in tandem with the overall market. The demand for two-wheeler hand
holds has increased due to growing safety concerns among riders, spurred by
strict enforcement of traffic rules and rising awareness about road safety.
Moreover,
the advent of shared mobility platforms like Ola and Uber has revolutionized
the two-wheeler market, creating additional demand. These platforms, with their
bike taxi services, have not only provided an affordable commute option but
also generated a surge in demand for two-wheeler hand holds.
Moving
forward, the Indian two-wheeler market, including the hand hold segment, is set
to witness sustained growth. However, the market players must navigate several
challenges, including volatile fuel prices, stringent emission norms, and
changing consumer preferences. Despite these challenges, the market's potential
remains vast, promising exciting times ahead for all stakeholders.
With
its vibrant mix of traditional and modern, rural and urban, combustion and
electric, the Indian two-wheeler market, along with its allied sectors like
hand holds, mirrors the country's diverse and dynamic landscape. It is a market
poised on the cusp of significant change and growth, encapsulating the evolving
aspirations of the Indian consumer.
Major
companies operating in India Two-Wheeler Hand Hold Market are:
- Tag Motors Limited
- Span Autotech Pvt. Ltd.
- R. M. Components Private Limited
- Dongguan Hongyi Carbon Fiber Technologies Co. Ltd.
- SZ Motorcycle Industries Ltd.
Download
Free Sample Report
Customers can also request for 10% free customization
on this report.
“The
India Two-Wheeler Hand Hold Market is a critical segment of the country's
thriving two-wheeler industry. With millions of motorcycles and scooters on
Indian roads, the demand for reliable and comfortable handholds and grips is
substantial. These components play a pivotal role in rider control and safety.
The market is influenced by trends in customization, ergonomic design, and
technological advancements, offering riders a personalized and secure
experience. Despite challenges related to price sensitivity and quality
standards, manufacturers are adapting to changing consumer preferences. As the
two-wheeler market continues to grow, the Two-Wheeler Hand Hold Market remains
integral to rider comfort and control on India's roads.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“India Two-Wheeler Hand Hold
Market By Vehicle Type (Scooter/Moped and Motorcycle), By Demand Category (OEM
vs Replacement), By Regional, Competition, Forecast & Opportunities, 2019-2029”, has evaluated the future growth
potential of India Two-Wheeler Hand Hold Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Two-Wheeler Hand Hold Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com