Two Wheeler Market Share In India | Bikes Industry Analysis 2023

The two-wheeler market in India is dominated by a few major players, with Hero MotoCorp leading the pack in terms of market share. Here are the top five two-wheeler manufacturers in India and their respective market shares:

1. Hero MotoCorp - 38.83%

2. Honda Motorcycle & Scooter India - 25.19%

3. TVS Motor Company - 14.16%

4. Bajaj Auto - 12.03%

5. Yamaha Motor India - 3.28%

These figures are based on the latest india two wheeler market report available and may be subject to change over time. It's also worth noting that the market share of each manufacturer can vary depending on the segment of two-wheelers (such as scooters or motorcycles) and geographic region within India.

Current Two Wheeler Sales In India 2023

According to our research and the Indian Automobile Manufacturers (SIAM), the sales of two-wheelers in India during the fiscal year 2020-21 is 1,96,43,139 units. This represents a decline of 13.19% as compared to the previous fiscal year (2019-20) due to the impact of the COVID-19 pandemic and subsequent lockdowns.

It's worth noting that the sales figures may vary depending on the segment of bikes, the geographic region, and the manufacturer. Additionally, due to the constantly changing market conditions, these figures are subject to change over time.

Challenges Of India Two Wheeler Industry

The two-wheeler industry in India faces several challenges, some of which include:

1. Regulatory Changes: The 2 wheeler industry is heavily regulated in India, and any changes in regulations can have a significant impact on the industry. For example, the recent implementation of stricter emission norms and safety standards have led to higher costs for manufacturers and may impact consumer demand.

2. Competition: The two-wheeler industry in India is highly competitive, with several established players competing for market share. This can lead to price wars and decreased profit margins for manufacturers.

3. Economic Slowdown: The 2 wheeler industry is closely tied to the overall economic conditions in India. Economic slowdowns can lead to decreased consumer spending and lower demand for two-wheelers.

4. Changing Consumer Preferences: Consumer preferences are constantly evolving, and manufacturers must adapt to these changes to stay relevant. For example, the recent trend towards electric vehicles may impact the demand for traditional internal combustion engine two-wheelers.

5. Infrastructure Challenges: The 2-wheeler industry in India also faces challenges related to infrastructure. Poor road conditions, lack of charging infrastructure for electric vehicles, and inadequate parking facilities can all impact consumer demand for two-wheelers.

6. Supply Chain Disruptions: The ongoing COVID-19 pandemic has highlighted the importance of a resilient supply chain. Disruptions in the supply chain can lead to production delays and increased costs for manufacturers.

Two Wheeler Market Growth In India 2020-2021

According to data, the two-wheeler industry in India witnessed a decline of 13.19% in sales during the fiscal year 2020-21 (April 2020 to March 2021) as compared to the previous fiscal year.

However, the market has shown signs of recovery in recent months. In February 2021, the sales of two-wheelers in India grew by 6.95% as compared to the same month in the previous year. Similarly, in March 2021, the sales of two-wheelers grew by 10.05% as compared to March 2020.

Two Wheeler Market Growth In India 2022-2023

One of the major factors is the expected recovery of the Indian economy from the impact of the COVID-19 pandemic. The easing of lockdown restrictions and increasing vaccination rates are expected to boost consumer demand and increase economic activity, which could lead to an increase in the sales of bikes.

In addition, the government's focus on promoting the e-bikes market could drive the growth of the electric two-wheeler market in India. The government has announced several initiatives and incentives to promote the adoption of electric vehicles, which could lead to an increase in demand for electric bikes.

However, the growth of the two-wheeler market in India in 2022 may also be impacted by several challenges, including the rising cost of raw materials, increasing competition, and regulatory changes. Overall, the growth of the bikes market in India in 2022 is likely to be influenced by a complex mix of factors, and it remains to be seen how these factors will play out.

Predictions: Two Wheeler Market Share In India 2023

It is tough to predict what will happen in the two wheeler market. But the chances are very decent for the improvement of india two wheeler market growth.

Another factor is the increasing focus on sustainable mobility solutions, particularly electric vehicles. The Indian government has set a target of achieving 30% electric vehicle penetration by 2030, and this could lead to an increase in demand for electric two-wheelers.

In addition, the increasing urbanization in India is likely to drive the growth of the two-wheeler market, particularly in the scooter segment, which is popular among urban commuters.

Latest Technology: Electric Two wheeler Market Share

The electric two-wheeler market in India is a relatively new and emerging market that has seen significant growth in recent years. The increasing focus on sustainable mobility solutions and government initiatives to promote electric vehicles have led to a surge in demand for electric two-wheelers in India.

According to data, the sales of electric two wheelers in India grew by 20% in the fiscal year 2020-21 as compared to the previous fiscal year. The e-bike market in India is primarily dominated by the scooter segment, which accounted for around 96% of the total sales in 2020-21.

The Indian government has announced several initiatives and incentives to promote the adoption of electric vehicles, including electric two wheelers. These include subsidies, tax incentives, and the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme, which provides financial incentives for the purchase of electric vehicles.

In addition, several private players have entered the electric two-wheeler market in India, offering a range of models across different price points. This has led to increased competition and innovation in the market.

Overall, the electric bike market in India is expected to continue to grow in the coming years, driven by government initiatives, increasing consumer awareness, and innovation in the market.