Press Release

India Two Wheeler Market to Surpass $ 25 Billion by FY2023

On the account of rising fuel prices, easy manoeuvrability coupled with rising adoption of two-wheelers as taxis, two-wheeler market in India is anticipated to grow at a brisk pace until 2023

According to TechSci Research report, “India Two-Wheeler Market By Vehicle Type, By Engine Capacity, Competition Forecast & Opportunities, FY2013 – FY2023F”, two-wheelers market in India is projected to cross $ 25 billion by the end of FY2023. Anticipated growth in the market is backed by rising middle-class population in the country coupled with easy manoeuvrability and lower carbon emissions offered by two wheelers. With an expanding volume share of over 60% in India two-wheeler market in FY2017, motorcycles dominated the India two-wheeler market, followed by scooter segment. West region dominated India two-wheeler market with a market share of more than 30% in FY 2017, and the region is expected to maintain its dominance in the country’s two-wheeler market during the forecast period as well. West region is one of the most populated regions of India; and Maharashtra, a state in the country’s west region, is one of the major demand generators for two-wheelers.

Browse 39 market data Figures and Tables spread through 90 Pages and an in-depth TOC on "India Two-Wheeler Market"

Rising congestion on the roads is affecting the taxi service business in the country. To overcome this, big players like OLA (Ola-Bike) and UBER (Uber-Moto) have included two-wheelers in their taxi service offerings. Since, two-wheelers can avoid traffic jams, and thereby, save commute time, demand for two-wheeler taxis in metro cities is expected to witness robust growth in the coming years. Over the last few years, demand for premium motorcycles with powerful engines has seen an increase. This growth trend in above 250 cc motorcycle category is expected to continue in the coming years, which would also positively impact the country’s two-wheeler market through 2023.

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Major two-wheeler giants such as Hero MotoCorp Ltd., Honda Motorcycle, TVS Motor Company Limited, Bajaj Auto Ltd., and Scooter India Pvt. Ltd. are constantly focusing on expanding their product offerings to gather more customer attention towards their products. “Growing presence of various multinational companies such as Triumph, Suzuki, Yamaha, Harley Davidson, BMW, Piaggio and Kawasaki, coupled with their continuing research and developments to manufacture premium two-wheelers as well as to offer a wider product range is expected to intensify competition among the leading industry players in the coming years. Moreover, rising average selling prices of two-wheelers and growing unit sales of two-wheelers are forecast to boost revenues of India two-wheeler market during FY2018 - FY2023”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Two-Wheeler Market By Vehicle Type, By Engine Capacity, Competition Forecast & Opportunities, FY2013 – FY2023F” has analyzed the potential of two-wheeler market in India, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the two-wheeler market across the country. 

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