Industry Structure for India Used 2W Market
The Indian
two wheelers industry has evolved in many folds in terms of
technology and total number of two wheelers being manufactured and produced.
Two wheelers in India can be seen as an alternative to walking, riding bicycle
and public transit systems. Presently, the country is the largest producer and
manufacturer of two wheelers in the world followed by China. Rising fuel prices
is one of the primary growth drivers for two-wheelers due to their higher fuel
efficiency. In India, commuters across all age groups use motorized vehicles,
especially two wheelers owing to the escalating population and rapid increase
in traffic congestion, thereby making two wheelers as the most appropriate and
convenient mode of transportation in urban areas.
The market has attained speedy growth over the review period of five
years from FY’2015 to FY’2021. The demand for used two wheelers has seen a
constant rise over the past few years, especially from models like Honda
Activa, Aviator, TVS Jupiter, Bajaj Pulsar and Discover. 99.5% of the used two
wheelers market in terms of sales volume was observed to be unorganized which
comprises of individual sellers, local mechanics and small dealerships.
Market Size and Market Segmentation, FY’2021
India Used Two
Wheeler Market is at the Growth Stage, with organized players increasing their
market penetration. The overall market increased from ~ Mn Units in FY’2015 to
~ Mn Units in FY’2021, growing at a double digit positive CAGR during the
period.
By Type of Market Structure
The India used two wheeler market is dominated by the unorganized market
with a share of ~% during the FY’2021, while organized sector is making its
presence in the overall market.
By Type of Two Wheeler
The market has continued to be dominated by motorcycles with a massive
volume share of ~% during the FY’2021. This is because male riders travelling a
longer distance still prefer motorbikes instead of a scooter due to larger
engine and greater mileage.
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By Distribution Channel
Due to low awareness regarding the existence of organized online and offline players, the majority of transactions conducted in the market are through C2C or offline B2C channel. The C2C channel controlled a share of ~ % to the total sales volume in the used two-wheeler market during the FY’2021. On the other hand, the B2C channel controlled the remaining significant share of ~ % in the used two wheeler sales space. C2C Market is dominated by buying and selling of Used Two Wheelers between Friends and Family.
By Stock Piece and Customized
Vehicles
During FY’2021, stock piece contributed to a majority of the used
two-wheelers sold in India and consisted of standard vehicles manufactured by
companies, thus evaluated at a volume share of ~ % in India used two wheelers
market.
The total numbers of individuals who are bike enthusiasts and are able to
afford expensive bikes constitute a very small proportion of buyers in the
market for new customized bikes, thereby capturing the remaining ~ % volume
share in the FY’2021.
By Source of Manufacturing
Domestically manufactured bikes have dominated the sale of used bikes and
scooters in India with a hefty share of ~ % in the sales volume during FY’2021.
Since India is a middle income country, price and mileage are the most
important factors that Indians consider before purchasing a new vehicle. This
is the major factor behind domestic companies focusing on production of low
maintenance and high performance bikes and scooters.
By Engine Capacity
On the basis of engine capacity of two-wheelers, it has been observed
that used bikes with 100-110 cc engine capacity have been mostly purchased by
buyers. The share of this segment in the volume sales was noted at ~% during
FY’2021. On the other hand, engine capacities with 125-135 cc, 150-200 cc and
others were observed to capture the remaining ~% volume share in the FY’2021.
By Average Ownership Period of
Used Two Wheelers
It has been observed that presently, Indians mostly use a two-wheeler for
at least a period of three to five years before disposing it off. This figure
has dropped from an average of six to seven years in the recent past due to
frequent launches of two wheelers and effective marketing techniques used by
companies.
By Manufacturer of Two Wheelers
It has been found that hero is the major players in the Indian used two
wheeler market which is also the global leader and largest player in the new
two-wheeler market. Honda is the second most dominating company in the Indian
used two wheeler market. Other players include Hero, Honda, TVS, Bajaj and
others.
By Certification of Two Wheelers
The Indian used two wheeler market is further segmented into certified
and non-certified vehicles where certification is both verbal and written
warranty provided. Certain unorganized regional players might be giving
certification too. The market is highly dominated by the Non-Certified vehicles
with ~ % share in FY’2021.
By Financing of Two Wheeler
During FY’2021, Non-Financed two wheeler contributed to a majority of the
used two-wheelers sold in India, thus evaluated at a volume share of ~ % in
India used two wheelers market.
Key
Segments Covered in India Used Two Wheeler Market, FY’2021:-
By Type of
Market
Organized
Unorganized
By Sales
Channel
C2C Channel
B2C Channel
By Source
Domestic
Imports
By
Modification
Stock Piece
Customized
By Type of
Bike
Motorcycles
Scooters
By Engine
Capacity
100CC-110CC
125CC-135CC
150CC-200CC
Others
By Replacement
Cycle
0-2 years
2 years-4 years
4 years-5 years
5 years - 6 years
6+ years
By
Certification
Certified
Non Certified
By
Financing
Financed
Non Financed
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
Time Period
Captured in the Report:-
Historical
Period: FY’2015-FY’2021
Forecast
Period: FY’2021–FY’2025
Companies
Covered:-
Organized Used 2W
Companies
Honda Best Deal
CredR
Mahindra First Choice
Bike Bazaar
Suzuki Best Value
Bikers Highway
Royal Enfield Vintage
Ducati
Online Used 2W
Platforms
Droom
Quikr
Olx
Bikes4Sale
CarandBike
Bike Jinni
Bikes24
Key Topics
Covered in the Report:-
Market size of India used two wheeler market
Market size of India online used two wheeler
market
Value chain in India used two wheeler market
Market segmentation of India used two wheeler
market on the basis of market structure, stock piece & customized vehicle,
distribution channels, source of
Manufacturing, type of two-wheeler, engine
capacity, average ownership period, by manufacturer, body type, certification
and financed & non-financed vehicle.
Trends and Developments in India used two wheeler
market
Growth Drivers and Restraints in India used two
wheeler market
SWOT analysis in India used two wheeler market
Pre-Requisites to Enter the India used two
wheeler market
Government Regulations in India used two wheeler
market
Major players and their business models
Customer Profile in India used two wheeler market
Analyst Recommendations
For More Information on the research report, refer to below link:-
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