March 2022|India News
- Demand for
Used Two Wheelers is expected to increase as lockdown due to COVID 19 is
easing further, but supply for second hand two wheelers has also reduced,
owing to people holding on to their two wheelers for a longer period.
- Entry of OEM’s
into the used two wheeler market is expected to drive the demand further,
as the market becomes more organized.
Increasing Demand for Luxury Motorcycles: The demand for luxury, high end used
two wheelers is increasing owing to the budget constraints and rising
aspirations of young consumers. Supporting this trend, luxury 2W OEM’s such as
BMW and Ducati are entering the used two wheeler market on their own, with
certified vehicles and easy financing options to increase their reach and
target new consumers. As disposable income increases, it is expected that more luxury
used two wheelers will enter the market, driving the demand. This will also
ensure a slight marginal increase in the organized segment in the industry.
India
Used Two Wheeler Market Overview
Increased focus on Quality: As market awareness increases, buyer’s
decision making process has transitioned from pricing to product quality along
with pricing.
Quality
check parameters include Paperwork, Vehicle accessories check, Engine Capacity,
Bodywork including fairings, windshields and bags, Front and rear fenders, Road
test, Paint, Tyres, Breaking System and others. Online platforms helping
consumers take informed decisions by providing product rating & user
reviews, on road prices in all cities and with respect to dealers, regular
publishing of article & blogs.
Internet-based sales to dominate the market: The internet has expanded from just
being a tool to check updates over social media or emails to purchase and sales
of goods as well. E-commerce industry is a booming sector and, in this sector,
the pre-owned vehicle sale, as well as, purchase is a profit-making business.
Moreover, in purchase of used bike online platforms, the popularity for
consumer to consumer have escalated. In 2020, CredR, a used bike sales platform
announced delivery of second-hand bikes to doorstep of consumers.
Rising Aspirations of Young Population: Increased urbanization & standard
of living there has been a shift in consumer preferences with a rising need for
a personal vehicle. However, consumers in low income bracket prefer used
bikes/scooters. Increased working age population1 (49.25% in 2019)
now prefer travelling on their own against crowded public transport. Therefore
in most cases they choose to buy a second hand vehicle before buying a new one.
Millennial population often fascinated with Super/Imported bikes opts for used
imported ones owing to affordability constraints.
The
report titled “India Used Two Wheeler Market Outlook to
2026 (Second Edition) - Convenient Financing Options and Emergence of
Online Marketplace Platforms supporting Market Growth” by Ken Research
suggested that the used two wheeler market is expected to grow at a double
digit positive CAGR. Rising Aspirations of young consumers along with
increasing in demand from Tier II & Tier III cities is driving the used two
wheeler market in India. The used two-wheelers sales volume in India is
expected to grow over the next few years owing to introduction of new two
wheeler variants along with the rising aspirations of low and middle income
consumers in the country.
Key Segments Covered in India Used Two Wheeler Market,
FY’2021
- By
Modification
- Stock Piece
- Customized
- By
Type of Bike
- Motorcycles
- Scooters
- By
Engine Capacity
- 100CC-110CC
- 125CC-135CC
- 150CC-200CC
- By
Replacement Cycle
- 0 years - 2
years
- 2 years - 4
years
- 4 years - 5
years
- 5 years – 6
years
- 6+ years
- By
Financing
- Financed
- Non Financed
Request For Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTE1MDY2
Key Target Audience
- Two Wheeler
OEM’s
- Two Wheeler
Dealers
- Online Portals
(Aggregators)
- Marketplace
Online Platforms
- Online 2
Wheeler Classified Portals
- E-Commerce
& Hyperlocal Companies
- Private Equity
Investors
Time Period Captured in the Report:
- Historical
Period: FY’2015
- FY’2021
- Forecast
Period: FY’2021
- FY’2026E
Companies Covered:
Organized Used 2W Companies
- Honda Best
Deal
- CredR
- Mahindra First
Choice
- Bike Bazaar
- Bikers Highway
- Royal Enfield
Vintage
- Ducati
- Suzuki Best
Value
Online Used 2W Platforms
- Droom
- Quikr
- Olx
- Bikes4Sale
- CarandBike
- Bike Jinn
Key Topics Covered in the Report
- India
Used Two Wheeler Market Future Outlook
- 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
Related Reports
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249
