India Motorcycle Market Synopsis
India Motorcycle Market is estimated to gain traction in the coming years on the back of rising urbanization in the country has led to increased traffic congestion, leading to drive the need for compact and agile vehicles such as motorcycle.
According to 6Wresearch, the India Motorcycle Market size is estimated to augment during the forecast period 2023-2029. The market is continuously growing in the country as there are growing numbers of motorcycle influencers on social media, the demand for sporty and premium bikes have been increasing. Additionally, India’s economic growth has resulted in an increased income level of the population, as a result, the motorcycle purchase has increased as they are now seen more affordable compared to other mode of transportation. The Indian government has introduced various policies to promote the use of electric vehicles, leading to increased consumers interest in electric motorcycle, opening the growth corridors for the India Motorcycle Industry.
Trends & Opportunities in the India Motorcycle Market
There is an increasing demand and purchase rate of electric motorcycles in India. With the growing concerns about pollution and a emphasize on sustainability is an ongoing trend driving the market to grow significantly. Online sales of motorcycles are becoming increasingly popular. As population being present on the digital platforms, prefer to make online purchase, also digital ecommerce platforms provide a spectrum range of options and convenience for buyers. Manufacturers can untapped the opportunity in the rural areas by introducing affordable range of motorcycle, this will be resulting a high purchase of motorcycle and leading to a massive scalability in the India Motorcycle Market growth. Motorcycle customization is also gaining momentum, as many motorcycle enthusiasts make their motorcycles customize and personalize as per their taste.
COVID-19 influence on the India Motorcycle Market
The COVID-19 had impacted the India Motorcycle Market which is a part of the Asia Pacific Motorcycle Market. The pandemic had caused lockdowns in the country led to delays in the manufacturing process, reducing the availability of motorcycle. This, in turn, dropped the market shares and revenues. Economic uncertainty and job losses during the pandemic resulted in decreased consumer spending, especially on non-essential items like motorcycles. Many prospective buyers had delayed their purchase decisions due to financial constraints.
Major players in two-wheeler industry in India
Below mentioned are some major players in two-wheeler market in the country, offering wide range options and top notch designed integrated with advanced features.
- Hero MotoCorp
- Bajaj Auto
- TVS Motor Company
- Honda Motorcycle and Scooter India (HMSI)
- Royal Enfield
- Suzuki Motorcycle India
Key attractiveness of the report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022.
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- India Motorcycle Market Outlook
- Market Size of India Motorcycle Market, 2022
- Forecast of India Motorcycle Market, 2029
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By 501-800 CC for the Period 2019 – 2029
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Cruiser for the Period 2019 – 2029
- Historical Data and Forecast of India Motorcycle Revenues & Volume for the Period 2019 – 2029
- India Motorcycle Market Trend Evolution
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Standard for the Period 2019 – 2029
- India Motorcycle Market Drivers and Challenges
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Engine Capacity for the Period 2019 – 2029
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By 801-1000 CC for the Period 2019 – 2029
- India Motorcycle Price Trends
- India Motorcycle Porter’s Five Forces
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By 151-300 CC for the Period 2019 – 2029
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Mopeds for the Period 2019 – 2029
- India Motorcycle Industry Life Cycle
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Type for the Period 2019 – 2029
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Adventure for the Period 2019 – 2029
- Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Touring for the Period 2019 – 2029
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