India Gasoline Scooter and Motorcycle Market is Projected to Reach $42.4 Billion by 2025: P&S Intelligence
NEW YORK, July 24, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the Indian gasoline scooter and motorcycle market is projected to reach $42.4 billion by 2025. The growth of the market is majorly driven by the development of autonomous vehicles and increasing focus towards reducing the operating cost of transportation.
Of all categories, 100-125cc was the largest category in the Indian gasoline scooter and motorcycle market, with more than 70.0% sales volume share in 2017 because of its high demand. This category is more preferred by the buyers as it provides an optimum balance between price and power output of the two-wheeler. Shift in the preferences of urban commuters from lower powered <100cc two-wheelers to 100-125cc category is also benefiting the growth of 100-125cc category.
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Additionally, the growing demand for motorcycles such as TVS Motor’s Apache range, Honda’s 160cc CB Unicorn, Bajaj Auto’s Pulsar range, CB Hornet 160R, Suzuki’s Gixxer series is further contributing to the growth of motorcycle market.
Earlier, the Indian gasoline scooter and motorcycle market was concentrated in major cities of Mumbai, Delhi, Bangalore, Kolkata, and Hyderabad. This was mainly due to the huge population and presence of large number of industrial and commercial units in these cities. However, with the rapidly growing population in tier 2 and tier 3 cities, including Ahmedabad, Pune, and Surat, the demand for private vehicles, particularly gasoline scooters and motorcycles, is rising at a rapid pace.
Browse report overview with detailed TOC on "India Gasoline Scooter and Motorcycle Market by Product (Scooter, Motorcycle), by Engine Capacity (<100cc, 100-125cc, 125-150cc, 150-180cc, 180-250cc, 250-500cc, >500cc) – Market Size, Share, Development, Growth, and Demand Forecast, 2013-2025" at:https://www.psmarketresearch.com/market-analysis/india-gasoline-scooter-and-motorcycle-market
A significant base of commercial and industrial enterprise has emerged in tier 2 and 3 cities, due to availability of cheaper land, which is promoting the overall growth. This has helped some of the tier 2 and tier 3 cities to emerge as some major commercial and industrial hubs in the country. With the economic development of these cities, the demand for personal mobility solutions has also grown significantly, thereby driving the Indian gasoline scooter and motorcycle market.
Growing population has led to increase in demand for more vehicles on road, thus increasing traffic congestion and pollution. This has led to the emergence of two-wheeler sharing or mobility sharing, benefiting the Indian gasoline scooter and motorcycle market. Traditionally, in India, vehicle sharing was not successful due to challenges such as safety, unpredictable timings, and coordination issues. However, with the increasing traffic and travelling charges, the demand for vehicle sharing is increasing. This is because it helps to connect with people instantly, save costs, and share costs in cashless way due to growing digitization.
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In Bangalore, Accel India, and Sequoia Capital India launched motor vehicle rental Metro bikes in February 2018. Furthermore, in 2017, in Kolkata, a bike-taxi service was started in the New Town Kolkata Development Authority area. These two-wheelers sharing services provide low-price range rentals and easy travelling. Since, these two-wheelers run majorly on gasoline, the increasing demand for vehicle sharing is expected to provide an impetus to the Indian gasoline scooter and motorcycle market growth.
Some of the major players operating in the Indian gasoline scooter and motorcycle market are Hero MotoCorp Ltd., Honda Motorcycle and Scooter India Pvt. Ltd, Bajaj Auto Ltd, TVS Motor Company Limited., Yamaha Motor India Pvt. Ltd., Royal Enfield Ltd India, Suzuki Motorcycle India Pvt. Ltd., Mahindra Two Wheelers Limited, KTM AG, and Piaggio & C. SpA.
More Reports by P&S Intelligence
India Electric Scooters and Motorcycles Market - https://www.psmarketresearch.com/market-analysis/india-electric-scooter-and-motorcycle-market
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