Focus on First-time buyers in rural and semi urban areas and Sub-urbanization are Major Factor Contributing towards development of MBO Two Wheelers Market in India
World’s largest producer of two-wheelers: India is the world’s largest producer of two-wheelers as of FY’22. Since then, various Indian as well as foreign brands have entered the market and established its presence. As of FY’22 there were around ~20-25 two-wheeler brands operating in the industry. Followed by the popularity of two-wheeler vehicles especially scooters among India consumers due to its ease of mobility and lower price compared to four wheelers, the market was opened to foreign competition.
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Covid-19 impacted the Market: Two-wheeler sales faced a setback in FY 2020 – 21 due to the global COVID-19 pandemic. However, the 2W sales via MBO has been greatly indirectly affected by the price increase, rising fuel prices and unseasonal rains leading to poor crop realizations have hit the rural population. Sales penetration has directly affected the overall market value, however, increase in the luxury 2W sales is expected to give a boost to the market size of the 2Ws in India. Market has shown an unstable growth owing to the COVID economic downfall and its slow recovery.
Next emerging mega trend: Servicing of any brand at one place is preferred by end users with on time delivery and better awareness about the customer choices and preferences. By only maintaining inventory for hot sellers will also help the market to go in right direction. Introduction of EV products in the portfolio, Pilot projects of the foreign brands, Industry knowledge from the existing market scenario and Low impact by the sales drop of a particular brand are some Industry associated growth drivers which will drive the market.
Flexible Loan Facilities: 2W is most popular with the customers with the monthly income of INR 25,000-35,000. This loan tenure is often non burdening during the repayments and often have suitable interest rates.
Analysts at Ken Research in their latest publication “India Two Wheelers MBO Market Outlook to 2027F– Driven by economic recovery after COVID and increasing demand for 2Ws is helping the MBOs players to sustain their market position in the high fragmented market structure” by Ken Research observed that 2W MBO market is an emergent vehicle market in India at a rebounding stage from the economic crisis after pandemic but has shown growth after covid. The rising government policies and increase in financing options is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 10.1% CAGR during 2023-2027F.
Key Segments Covered in the report
India 2W MBO Market
By Type of Vehicle (By Basis of Volume) FY’2022 and FY’2027F
- Motorcycle
- Scooter
By Type of Bike (By Basis of Volume) FY’2022 and FY’2027F
- Commuter
- Sports
- Scooter
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By Region (By Basis of Volume) FY’2022 and FY’2027F
- North
- South
- East
- West
By Brand (By Basis of Volume) FY’2022 and FY’2027F
- Honda
- TVS Motor Company
- Bajaj
- Hero MotoCorp
By Engine Capacity (By Basis of Volume) FY’2022 and FY’2027F
- 100-110CC
- 125CC-135CC
- 150CC-200CC
- others
By 2W Specification (By Basis of Volume) FY’2022 and FY’2027F
- ICE 2W
- EV 2W
By Financing & Non-Financing (By Basis of Volume) FY’2022 and FY’2027F
- Financing
- Non-Financing
By Gender
- Male
- Female
Key Target Audience:
- Two-Wheeler OEM’s
- Two-Wheeler Dealers
- Online Portals (Aggregators/Marketplace Platform)
- Online Classified Platforms
- E-Commerce & Hyperlocal Companies
- Private Equity Investors
- 2W Manufacturers
Time Period Captured in the Report:
- Historical Period: 2016-2022P
- Base Period: 2022P
- Forecast Period: 2023F-2027F
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Companies Covered:
OEMs
- Suzuki
- Yamaha
- Honda
- Bajaj Auto
- TVS
- Hero
- Mahindra
- Kawasaki
- Ather
MBOs
- M2GO
- Bhumi Motors
- FG Motors
- Suzuki
- Auto EV Mart
- Bike Wo
- Alka Auto
- City Motors
Key Topics Covered in the Report
- India 2W MBO Market Introduction
- India 2W MBO Market Size, 2017-2022
- India 2W MBO Market Segmentation, 2022
- Growth Driver and Issues in India 2W MBO Market
- SWOT Analysis and Trends in India 2W MBO Market
- Company Profiles of Major Players
- Future Outlook to India 2W MBO Market
- Analyst Recommendations
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Related Report by Ken Research: –
India Two-Wheeler Aftermarket Services Industry Outlook to 2027
