Indian Two Wheeler Market Scenario 2023 and Electric Two Wheeler Case study
Indian Two-Wheeler market assessment and the outlook is our most detail analysis report. The report details and digs out an in-depth analysis of the trends of the two-wheeler market. This report also covers the assessment regarding the main segments and the sub-segments of the Indian Two-Wheeler market assessment. The assessment includes the strategies developed by the OEMs, the major market drivers, an outlook till the year 2023, analysis of the scooter and motorcycle product, market strategies for moped products, networking of the brand and other related information regarding the products and its brand value.
The report details the analysis and information regarding the market strategies for electric two-wheeler and other related product analysis also. The details and planning strategies for the product position of electric scooter, pricing of the product, size of the market, customers purchase pattern, key products of the brand, Major competitors in the market, setting the target segment, uses and benefits of product, limitations of the product, strategies developed by the OEMs, policies and guidelines specified by the government concerning the electric vehicle policy, discount schemes, analysis and forecast of the running cost will be taken into account for report. ACG segregates the product categories into low Cost, economy, executive, high end, power, and the cruiser segments.
The major specifications covered under the product analysis section are categorised as the price range of the product, features and facilities of the product, market share of product-based classification, comparison of the product with the competitor’s product, highlighting features, differentiating the specification and the uses of the product, and life cycle of the product.
The brand value and the product position in the market, branding activities for high sale value, the theme of the brand, celebrity advertisements for market impact, and overall brand strategy will be detailed and covered in the brand analysis.
The case study of Gandhinagar city, in the state of Gujarat, is included to showcase the spiking market growth for electric two-wheeler and a higher sales growth in this segment in the year gone by.
Some segments have a higher CAGR but confined to small market size and some segment would have the large market size by the year 2023 with the low CAGR. OEMs, financiers, and the major component manufacturers develop and plan strategy depending on following market scenario:
A season of good monsoon, better and improved rural economy focused budget and overall positive economic forecast should build and spike up the two-wheeler sales in the upcoming part of the year 2018. Growth expected in the rural economy is one of the major driving points for the motorcycle segment.
The current market size of the Indian two-wheeler is around 20 million units which are considered to be 2 million units more than the previous year. The major export volume is around 3 million units in the current year 2018 which is approximately 1 million units more than the previous year 2017.
Motorcycle segment will register double-digit growth in the coming five years, and there is a continuous and impressive growth of 20% in the scooter segment for the year 2018. There is a reduction of segment share gap between the scooter and the motorcycle from 63% to 29% between the years 2009 till 2018. In the export category also, the motorcycle segment registered growth of 14.3 %. The Scooter segment highlighted a 6.4 % growth whereas the moped segment highlighted a de-growth rate of 22.7 % for the year 2018 compared to the year 2017. The share segment of motorcycle export has also increased by benefiting rate of 2% and the scooter segment share in the export market has reduced by a solid 1 %.
The running cost of the product, smooth driving experience and the multi-purpose uses and features of scooters are the major key factors for the growth of the scooter segment.
- Scooters will have low running cost when compared to the motorcycle of same engine capacity.
- In the first year of running, both scooters and motorcycles will have almost zero maintenance cost. Oil and Filters cost which comes under regular maintenance is excluded.
- In the second year of running the motorcycles will have 15% more running cost when compared to the scooters. The higher cost is due to cables, brake shoes replacement and maintenance.
- In the third year of running the motorcycles will have 30% more running cost as compared to the scooters. The clutch plates, chain, sprockets, and other components will have to be replaced and monitored with continuous maintenance procedures.
The two-wheeler market is becoming too dynamic and fast growing. The major share of the customers is shifting from one segment to another one frequently and they are willing to choose a product which will give some value addition to the product.
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