Indian 2-Wheeler Market Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020-2026

Emphasis on Source Type (ICE (Internal Combustion Engine, E2W (Electric 2-Wheeler)), ICE 2W Vehicle Type (Motorcycle, Scooter, Moped, Performance Bike, Other), ICE 2W Vehicle Class (Economy, Executive, Premium, Other)
BANGALORE, India - March 21, 2020 - PRLog -- Indian 2-wheeler market in terms of volume sale would reach 25.6 million by 2025, growing at a CAGR of 2.6% during the forecast period 2020-2025, from sales of 21.2 million units in 2019. India is the 2nd largest two-wheeler market in the world. It stands next only to China and Japan in terms of the number of two-wheelers produced and the sales. In 2018, the Indian two-wheeler market accounted for 20.2 million units. The urban market for two- wheelers is largely penetrated with nearly 57 of every 100 youths that earn an income to support the ownership of a two-wheeler. Based on source type, the Indian 2-wheeler market is segmented into ICE (Internal Combustion Engine) and E2W (Electric 2-Wheeler). Currently penetration of E2W in India is low compared to the conventional ICE 2-wheelers. However, as per the government plans, penetration of E2W is expected to grow at an exponential rate. The government wants to increase the adoption of electric vehicle to 100% by 2030. However, majority of vehicle manufacturers have different view. As per the automotive experts, electric vehicle has huge opportunity, however the conversion should be in phases. The increasing concerns toward greenhouse gas emissions (GHG), leading to various government initiatives and the formulation of strict emission regulations, are some of the key factors responsible for the growth of the electric 2-wheeler market in India. In addition, the entrance of new and existence of established manufacturers, as well as the introduction of various new variants of electric scooters, are projected to augment the market growth during the forecast period.

For detailed analysis of the overall sales of ICE 2W and adoption of E2W in India browse through

UnivDatos Market Insights (UMI)
Tags:Two Wheeler Market
Location:Bangalore - Karnataka - India
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