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India Two-Wheeler Aftermarket Services Industry is expected to expand at a CAGR of ~7.7% in Revenue in between FY’22 and FY’27: Ken Research

  • Doorstep aftermarket services model offered by organized multi-brand players will gain traction among consumers post COVID-19 era.
  • Two-wheeler aftermarket services industry would also witness strategic shift from technologies used to service fuel operated vehicles to electric vehicles along with enhancing the skill set of mechanics to service electric two-wheelers.

Digital is the Future

Entities operating in India two-wheeler aftermarket services industry are enhancing their digital presence to increase their online visibility among consumers. The era of COVID-19 witnessed consumer’s shifting preference in utilizing online platforms for availing information. Thereby, OEMs and organized multi-brand players are leveraging the opportunity to extend information to customers through their social media platform and collaboration with other digital platforms. Multi-Brand players such as Hoopy and Garage Works among others have initiated the process of online booking and extending doorstep two-wheeler services to enhance customer’s convenience.

Shift in Consumer Preference towards availing Private Transportation Medium

Due to the increased awareness on health and hygiene followed by the advent of COVID-19, consumers are preferring availing private transportation compared to public transport medium. Two-wheeler sales in India is expected to expand at a CAGR of ~12.1% in between FY’22 and FY’27. Rapid urbanization in major cities in Northern region such as Delhi, and Bangalore in Southern India for better employment opportunity and surging per capita disposable income will lead to better financial stability of consumers to purchase two-wheelers, positively impacting the two-wheeler aftermarket services industry in India.

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Doorstep Aftermarket Services Model

Various organized multi-brand dealers such as Hoopy and Garage Works have initiated the process of extending doorstep two-wheeler services to enhance customer convenience and reduce the waiting time. However, lack of customer knowledge remains a pain point for these players. With the advent of COVID-19, consumers are choosing alternatives to avoid physical presence at facilities, thereby doorstep aftermarket services model is anticipated to be a major determinant for the growth in aftermarket services industry in coming years.

Integration of Electric Two-Wheelers

The future of two-wheeler industry is going to be driven by the integration of electric vehicles in the market. Increased awareness on environmental degradation coupled with government’s initiative to reduce carbon footprint by 1 billion tonnes by 2030 to tackle climate change will contribute in the acceptance of electric two-wheelers in coming years as compared to fuel operated vehicles. As of FY’22, few start-ups and incumbent brands such as Ampere, Pure, Hero among others have already initiated the process of manufacturing electric two-wheelers. The advent of EVs will cause disruptions for incumbent companies in coming years, as it is creating big opportunities for smaller players, and foreign brands to integrate the ecosystem. Two-wheeler aftermarket services industry would also witness strategic shift in terms of technologies used to service fuel operated vehicles to electric vehicles along with enhancing the skill set of mechanics to service electric two-wheelers.

The publication titled India Two-Wheeler Aftermarket Services Industry Outlook to 2027: Driven by growing sales of two-wheelers and shifting consumer preference towards availing private transportation medium provides a comprehensive analysis of the aftermarket services industry by analyzing historical statistics and corresponding developments in the aftermarket industry. The report covers various aspects including aftermarket services industry market size on the basis of revenue and number of vehicles serviced, overview and genesis, ecosystem, two-wheeler sales, two-wheeler parc, analysis of different workshops (organized multi-brand, unorganized multi-brand/local garages and OEMs), growth trends and developments, key decision making parameters for two-wheeler servicing, Porter 5 Forces Analysis, government initiatives, impact of COVID-19, and risk factors governing the future outlook of industry. Insights on competitive landscape of aftermarket services industry and cross comparison between major players operating in the ecosystem namely, OEMs, organized multi-brand and spare parts’ manufacturers is also covered in the report on the basis of operational and financial parameters such as company profile, operational model, USP, business model, business strategy, services offered, sourcing of spare parts, pricing packages, pain points, market share, recent developments, sales volume, total income, net profit margin, inventory turnover ratio, total expenses, net profit and sale of spare parts. Further, the report covers overview of the spare parts industry on the basis of market size (revenue generated), classification of spare parts type (engine components, suspension/braking, transmission, electronics, body & chassis, cooling systems and others) and cross comparison of spare parts’ manufacturers on the basis of operational and financial parameters (overview, USP, key customers, products, location of major manufacturing plants, total income, profit after tax, net profit margin, inventory turnover ratio, and debtors turnover ratio).

india-two-wheeler-aftermarket-services-market

The report also focuses on the India Two-Wheeler Aftermarket Services Industry Segmentation by Type of Vehicle (Motorcycles and Scooters); By Age of Two-Wheeler (0-2 years, 2-4 years, 4-6 years, 6-8 years and 8 years & above); By Region (North, South, East and West); By Service Split (Non-Crash Repair, Crash Repair and Body Care); By Type of Workshop (Organized & Unorganized Multi-Brand and OEM); By Type of Multi-Brand Outlet (Organized Outlet and Unorganized Outlet); By Brand (Hero MotoCorp, Honda, TVS, Bajaj Auto, Suzuki and Others), By Electric Two-Wheeler Brand (Hero Electric, Okinawa, Ather, Ampere, Pure EV and Others); By Type of Split for Aftermarket Spare Parts and Consumables (Spare Parts and Consumables); By Expenditure Category (Services, Spare Parts and Consumables) and By Booking Mode (Online and Offline). India Two-Wheeler Aftermarket Services Industry report concludes with projections for the future of the industry including revenue and number of vehicles serviced by 2027, industry speaks and analysts’ take on the future highlighting the major opportunities.

Key Segments Covered in India Two-Wheeler Aftermarket Services Industry:-

By Type of Vehicle

Motorcycles

Scooters

By Age of Two-Wheeler

0-2 years

2-4 years

4-6 years

6-8 years

More than 8 years

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By Region

North

South

East

West

By Service Split

Non-Crash Repair

Crash Repair

Body Care

By Type of Workshop

Organized & Unorganized Multi-Brand

OEM

By Type of Multi-Brand

Organized Outlet

Unorganized Outlet

By Brand

Hero MotoCorp

Honda

TVS

Bajaj Auto

Suzuki

Others

By Electric Two-Wheeler Brand

Hero Electric

Okinawa

Ather

Ampere

Pure EV

Others

By Type of Split for Aftermarket Spare Parts and Consumables

Spare Parts

Consumables

By Expenditure Category

Services

Spare Parts

Consumables

By Booking Mode

Online

Offline

Consumables

Classification by Spare Parts Type:-

Engine Components

Suspension/Braking

Transmission

Electronics

Body and Chassis

Cooling System

Others

Key Target Audience:-

Two-Wheeler Organized Multi-Brand Aftermarket Servicing Companies

Two-Wheeler OEMs

Spare Parts’ Manufacturers

Industry Associations

Government Bodies

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Time Period Captured in the Report:-

Historical Period: FY’17-FY’22

Forecast Period: FY’22-FY’27F

India Two-Wheeler Aftermarket Servicing Players

OEMs

Hero MotoCorp

Bajaj Auto

Suzuki

TVS Motor Company

Royal Enfield

Yamaha

Piaggio

Kawasaki

Ampere

Pure EV

Ather

Okinawa

Revolt

Hero Electric

Organized Multi-Brand Aftermarket Servicing Companies

Hoopy

Garage Works

Mechido

RazorCat

Gobumpr

Garage Uncle

Garage 2 Ghar

Bike Fixup

Spot Mech

Garage On Call

Ready Assist

Bike Mechanic

Protto

Groomauto

Spare Parts’ Manufacturers

Uno Minda

Spark Minda

Gabriel

Bosch India

Amtek

Sundaram Fastners

Exide

Nifco

Apollo Tyres

Ceat

Bharat Forge

Amara Raja

Motherson Sumi Systems

Key Topics Covered in the Report:-

Overview and Genesis of India Two-Wheeler Aftermarket Services Industry

Two-Wheeler Sales Volume and Two-Wheeler Parc in India

Ecosystem of India Two-Wheeler Aftermarket Services Industry

Market Size of India Two-Wheeler Aftermarket Services Industry (Revenue and Number of Vehicles Serviced)

Average Ticket Size of Two-Wheeler Service

India Two-Wheeler Aftermarket Services Industry segmentation (By Type of Vehicle, By Age of Two-Wheeler, By Region, By Service Split, By Type of Workshop, By Type of Multi-Brand Outlet, By Brand, By Electric Two-Wheeler Brand, By Type of Split for Aftermarket Spare Parts and Consumables, By Expenditure Category and By Booking Mode)

Cross Comparison of OEMs and Organized Multi-Brand Workshops on the basis of Financial Parameters (Sales Volume, Total Income, Net Profit Margin, Inventory Turnover Ratio, Total Expenses, Net Profit and Sale of Spare Parts)

Company Profile of OEMs and Organized Multi Brand Players (Company Profile, Operational Model, USP, Business Model, Business Strategy, Services Offered, Sourcing of Spare Parts, Pricing Packages, Pain Points, Market Share and Recent Developments)

Growth Drivers and Challenges to India Two-Wheeler Aftermarket Services Industry

Industry trends and developments

Government Initiatives to support India Two-Wheeler Aftermarket Services Industry

Impact of COVID-19 and Future Outlook of Industry

Porter 5 Forces Analysis of India Two-Wheeler Aftermarket Services Industry

Key Decision Making Parameters for Two-Wheeler Servicing: OEM and Multi Brand Two-Wheeler Servicing Companies

Analysis of Organized Multi-Brand, Unorganized Multi-Brand/Local Garages and OEM Workshops in India

Overview of Spare Parts Aftermarket Industry in India, FY’17-FY’27E

Classification by Spare Parts Type (Engine Components, Suspension/Braking, Transmission, Electronics, Body and Chassis, Cooling Systems and Others), FY’22

Cross Comparison of Spare Parts’ Manufacturers on the basis of Operational and Financial Parameters (Company Overview, USP, Key Customers, Products, Location of Major Manufacturing Plants, Total Income, Profit After Tax, Net Profit Margin, Inventory Turnover Ratio and Debtors Turnover Ratio)

Analyst Recommendations

Industry Speaks

For More Information on the research report, refer to below link:-

India Two-Wheeler Aftermarket Services Industry

Related Reports:-

Vietnam Used Car Market Outlook to 2026 (Second Edition): Driven by growing disposable income and shifting consumer preference from two-wheelers to four-wheelers

India Used Two Wheeler Market Outlook to 2026 (Second Edition) – Convenient Financing Options and Emergence of Online Marketplace Platforms supporting Market Growth

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