Wednesday, September 28, 2022

Email id: support@kenresearch.com, Contact Us : +91-9015378249

Home Automotive, Transportation and Warehousing Automotive and Automotive Components Shifting consumer preference towards availing private transportation medium is the post COVID...

Shifting consumer preference towards availing private transportation medium is the post COVID scenario has resulted in resurgence of the two-wheeler aftermarket services industry ~ Ken Research

Preference for Availing Private Transportation

Increased awareness on health and hygiene brought about by the advent of COVID-19 is a major determinant for the shift in consumer’s preference in availing private transportation medium rather than utilizing public transport. The shifting preference and integration of electric two-wheeler vehicles in the industry coupled with increasing per capita disposable income, which expanded with a CAGR of 3.7% in between FY’17 and FY’22, served as major catalysts for the growth in two-wheeler aftermarket services industry.

Impact of COVID-19

Lockdowns imposed around the country during the years FY’21 and FY’22 severely hampered the production and distribution capabilities of the major OEMs for two-wheelers in the country. Additionally, with work-from-home mandate in place for majority of the working professionals, the sale of two-wheelers was negatively impacted as there was no need for mobility, showcasing a 10.4% contraction in sales Y-o-Y in between FY’21 and FY’22.

Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTE1MDY2

Positive Impact of Reverse Migration

Due to the COVID-19 pandemic, the capital of a lot of the local garage/unorganized outlet owners were wiped off permanently due to closure of business. As a result of which various daily wage workers from local garages have migrated back to their natives thereby, reducing the accessibility of local garages in comparison to the pre-pandemic time period. This has positively impacted the scope for organized multi-brand players such as Hoopy and Garage Works looking to enter the space and expand its customer base.

Transition from BS-IV to BS-VI Emission Standards

Two-wheeler aftermarket servicing companies especially OEM and multi-brand players have initiated imbibing technologies to ensure that a vehicle complies with the BS-VI emission standards as mandated by the central government since April 2020, followed by an aftersales service. However, advanced technological integration by local garages remains a pain point as they do not possess the necessary financial stability to invest in these technologies which would ensure servicing a two-wheeler complying with necessary emission standards.

Growth Drivers for Two-Wheeler Spare Parts Aftermarket Industry

The rise in duty on specific items such as engine and transmission parts amongst others from 7.5-10% to 15% since FY’19 contributed in boosting business potential for domestic manufacturing units. Coupled with this, several government initiatives such as NATRIP acted as a catalyst for the growth of two-wheeler spare parts industry in India, which aims to generate core global competencies, providing low-cost product development solutions to manufacturers, and enables seamless integration of automobile component industry in India to be at par with global standards.

Competitive Landscape in India Two-Wheeler Aftermarket Services Industry

India’s two-wheeler aftermarket services industry is highly fragmented with presence of large number of OEMs, organized and unorganized multi-brand dealers across the country. OEM workshops enjoy moderate to high power in the initial years as 70% of service fee for newer two-wheelers are covered under warranty. However, post the warranty period of two-wheelers OEMs and organized multi-brand workshops face stiff completion from local garages due to the ease of access coupled with lower service fee charged. Followed by the advent of COVID-19, players in the ecosystem mainly organized multi-brand dealers such as Hoopy and Garage Works are enhancing their digital presence across platforms to expand their customer base as consumers are prone to avail online medium for booking and choosing a platform that best suits their interest.

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-service-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

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

Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTE1MDY2

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

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

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

RELATED ARTICLES

Malaysia Automotive Aftermarket Service Market Size, Share & Trends Analysis Report By Application, By Region And Segment Forecast Till- 2025: Ken Research

Buy Now Malaysia Multi Brand Aftermarket Industry Overview: Malaysia's automotive aftermarket service sector sales were USD xx Bn in 2020, with a CAGR of 2.9% from 2015...

Kenya Logistics and Warehousing Market Outlook to 2023: Ken Research

Buy Now Market Overview Logistics are very crucial to the economic performance of every economy. Like other African countries, Kenya has structural issues with its logistical...

5 Key Insights on U$3.4 Bn Opportunity in Europe Battery Recycling Market: Ken Research

Buy Now Driven by Rising Demand from the Automotive Sector to Support Growth in Electric Vehicle Market and Favorable Policies of European Union as a...

Most Popular

Global Canned Cheese Sauce Market Analysis, Industry Growth and Competition: Ken Research

Buy Now The Canned Cheese Sauce has grown significantly in the past few years as there is a huge demand over supply activities. This report...

Analysis And Forecast of Scramjet Market Outlook: Ken Research

Buy Now A scramjet is referred as supersonic combustion ramjet. It is a variant of a ramjet airbreathing jet engines in which combustion takes place in supersonic airflow. A scramjet depends...

Malaysia Automotive Aftermarket Service Market Size, Share & Trends Analysis Report By Application, By Region And Segment Forecast Till- 2025: Ken Research

Buy Now Malaysia Multi Brand Aftermarket Industry Overview: Malaysia's automotive aftermarket service sector sales were USD xx Bn in 2020, with a CAGR of 2.9% from 2015...

Insights into the Solar PV Testing Equipment Industry Outlook: Ken Research

Buy Now The solar PV testing Equipment are the various kinds of tools used for ensuring the safety and security of PV installations on solar...