India Motorcycle Market (2023-2029) | Revenue, Forecast, Industry, Trends, Companies, Share, Analysis, COVID-19 IMPACT, Growth, Outlook, Value & Size

Topics Covered in the India Motorcycle Market

India Motorcycle Market report thoroughly covers the market by type and by engine. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

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 the need for compact and agile vehicles such as motorcycles. Additionally, the changing lifestyle of the population is one of the trends contributing to the market expansion, as having a motorcycle is seen as a form of leisure and adventure, as a result, the purchase rate of premium motorcycles has increased. Also, increasing fuel prices in the country have resulted in switching consumers to fuel-efficient motorcycles. Manufacturers are now focusing on improving the fuel efficiency aspect of motorcycles.

According to 6Wresearch, the India Motorcycle Market size is expected to expand at a CAGR of 9% 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, and the demand for sporty and premium bikes has been increasing.  Additionally, India’s economic growth has resulted in an increased income level of the population, as a result, motorcycle purchase has increased as they are now seen as 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 consumer interest in electric motorcycles, and 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. The growing concerns about pollution and an emphasis on sustainability is an ongoing trend driving the market to grow significantly. Online sales of motorcycles are becoming increasingly popular.  As the population is present on digital platforms and prefers to make online purchases, digital e-commerce platforms provide a spectrum range of options and convenience for buyers. Manufacturers can untapped the opportunity in the rural areas by introducing an affordable range of motorcycles, this will result in a high purchase of motorcycles and lead to a massive scalability in the India Motorcycle Market growth. Motorcycle customization is also gaining momentum, as many motorcycle enthusiasts make their motorcycles customised and personalised as per their taste.

Government Initiatives in the India Motorcycle Market

The market growth is favourably driven by the launch of government favourable policies such as Bharat Stage (BS) Emission Standards introduced to control the carbon emission released from vehicles, including motorcycles. Motorcycle manufacturers must comply with these government regulations by producing fuel-efficient bikes. Additionally, the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) is another government scheme introduced to promote the adoption of electric and hybrid vehicles, including electric motorcycles. Under this scheme, the government facilitates incentives and subsidies to manufacturers and buyers to encourage the manufacturing and high adoption of electric motorcycles. Export promotions are being done by the government, where Indian product exports are encouraged by offering incentives, including motorcycle exports.

COVID-19 Influence on the India Motorcycle Market

COVID-19 has impacted the India Motorcycle Market which is a part of the Asia Pacific Motorcycle Market.  The pandemic had caused lockdowns in the country leading to delays in the manufacturing process and reducing the availability of motorcycles. 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 the two-wheeler industry in India

Below mentioned are some major players in the two-wheeler market in the country, offering a wide range of 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

Market Analysis by Type

According to Shivankar, Research Manager, 6Wresearch, standard motorcycles have been traditionally the top demand owing to their affordability and practicality, on the other hand, cruiser and adventure motorcycles are also witnessing a high demand with the rising moto vloggers rate in the country.

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 Revenues & Volume for the Period 2019 - 2029
• India Motorcycle Market Trend Evolution
• India Motorcycle Market Drivers and Challenges
• India Motorcycle Price Trends
• India Motorcycle Porter's Five Forces
• 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 Cruiser for the Period 2019 - 2029
• Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Mopeds for the Period 2019 - 2029
• Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Sports for the Period 2019 - 2029
• Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Standard for the Period 2019 - 2029
• Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Touring for the Period 2019 - 2029
• 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 151-300 CC for the Period 2019 - 2029
• Historical Data and Forecast of India Motorcycle Market Revenues & Volume By 301-500 CC for the Period 2019 - 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 801-1000 CC for the Period 2019 - 2029
• Historical Data and Forecast of India Motorcycle Market Revenues & Volume By 1001-1600 CC for the Period 2019 - 2029
• Historical Data and Forecast of India Motorcycle Market Revenues & Volume By Above 1600 CC for the Period 2019 - 2029
• India Motorcycle Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Engine Capacity
• India Motorcycle Top Companies Market Share
• India Motorcycle Competitive Benchmarking By Technical and Operational Parameters
• India Motorcycle Company Profiles
• India Motorcycle Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Adventure
• Cruiser
• Mopeds
• Sports
• Standard
• Touring

By Engine Capacity

• 151-300 CC
• 301-500 CC
• 501-800 CC
• 801-1000 CC
• 1001-1600 CC
• Above 1600 CC

Frequently Asked Questions About the Market Study (FAQs):