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India Two Wheeler Market Research Report Information By Engine Type (Electric, Hybrid and Electric Vehicles, and ICE), – India Market Forecast Till 2032


ID: MRFR/AM/19850-HCR | 128 Pages | Author: Garvit Vyas| July 2024

India Two Wheeler Market Overview:


India Two Wheeler Market Size was valued at USD 302.2 Billion in 2022. The Two Wheeler market industry is projected to grow from USD 312.77 Billion in 2023 to USD 411.86 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2024 - 2032). Rising urbanization and increasing demand for affordable and fuel-efficient transportation are the main market drivers anticipated to propel the Two Wheeler market in India.


India Two Wheeler Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


India Two Wheeler Market Trends


The electric two-wheelers revolution is driving the market growth


As environmental concerns and the need for sustainable transportation solutions become more prominent, the market is witnessing a notable shift towards electric mobility. Electric two-wheelers, including electric scooters and motorcycles, have gained popularity due to their eco-friendly nature, reduced operational costs, and government incentives promoting electric vehicle adoption. Electric two-wheelers address the growing environmental consciousness among consumers. With zero tailpipe emissions, they contribute to lowering air pollution levels, especially in urban areas where two-wheelers are a primary mode of transportation. Governments worldwide are implementing policies and providing subsidies to encourage the adoption of electric vehicles, contributing to the growth of the electric two-wheeler market. This trend aligns with global efforts to reduce carbon footprints and combat climate change. Moreover, advancements in battery technology have led to improvements in the range, charging time, and overall performance of electric two-wheelers. This has alleviated concerns related to limited range and accessibility, making electric two-wheelers a more viable option for daily commuting. As battery technology continues to evolve, the electric two-wheeler market is expected to witness further expansion, offering consumers a cleaner and more sustainable alternative to traditional internal combustion engine vehicles.


Another prominent trend in the two-wheeler market is the integration of connectivity and smart features in motorcycles and scooters. With the rapid evolution of technology, two-wheeler manufacturers are incorporating smart features to enhance the overall riding experience, safety, and convenience for users. Connectivity features such as GPS navigation, smartphone integration, and vehicle-to-vehicle communication are becoming increasingly common. The integration of connectivity features not only enhances the functionality of two-wheelers but also improves safety. GPS navigation systems assist riders in finding the best routes, while real-time traffic updates help in avoiding congestion. Additionally, smartphone connectivity allows riders to receive calls, messages, and notifications without taking their hands off the handlebars, promoting safer riding practices. Furthermore, smart features contribute to vehicle security. Anti-theft systems, geo-fencing, and remote tracking enable owners to monitor and secure their two-wheelers more effectively. In the event of theft, GPS tracking can aid in recovering the stolen vehicle, providing an additional layer of protection for owners.


India Two Wheeler Market Segment Insights:


Two Wheeler Engine Type Insights


The India Two Wheeler market segmentation, based on engine type, includes electric, hybrid and electric vehicles, and ICE. The dominating segment in the two-wheeler market is the "Electric" category. The increasing global emphasis on sustainability and the growing awareness of environmental issues has propelled the adoption of electric vehicles (EVs). Electric two-wheelers, including electric scooters and motorcycles, are gaining prominence due to their zero-emission nature, reduced operating costs, and advancements in battery technology.


Figure 1: India Two Wheeler Market, by Engine Type, 2023 & 2032 (USD Billion)


 India Two Wheeler Market, by Engine Type, 2023 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Two Wheeler Country Insights


The Two Wheeler Market in India has experienced significant growth due to a combination of socio-economic factors and the country's unique transportation landscape. The increasing urbanization and population density in Indian cities have fueled the demand for affordable and efficient personal transportation. Two-wheelers, particularly scooters and motorcycles, provide a convenient and maneuverable solution for navigating congested urban streets. Moreover, economic growth and rising disposable incomes have expanded the middle-class population, driving consumer aspirations for personal mobility. Two-wheelers, being more cost-effective than four-wheelers, have become a popular choice for a vast segment of the population. Additionally, the ease of maintenance and fuel efficiency further contribute to their popularity, making them accessible to a wide demographic range.


Furthermore, government policies and incentives, such as favorable taxation and subsidies, have encouraged the growth of the two-wheeler industry. The introduction of financing options has made these vehicles more affordable for a larger section of the population. As a result, the Two Wheeler Market in India continues to grow, meeting the diverse transportation needs of a rapidly expanding and economically dynamic population.


Two Wheeler Key Market Players & Competitive Insights


Leading market players focus on introducing new and innovative models with advanced features to attract a wider consumer base. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new Engine Type launches, contractual agreements, mergers and acquisitions, cost competitiveness, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Two Wheeler industry must offer cost-effective items.


Major players in the Two Wheeler market are attempting to increase market demand by investing in research and development operations, including Ampere, Ather Energy Pvt. Ltd., Bajaj Auto Ltd., BMW India Private Limited, Ducati India Private Limited, Hero MotoCorp Ltd., Honda Motorcycle and Scooter India Pvt. Ltd, Lohia Auto Industries, Okinawa Autotech Pvt. Ltd, Ola Electric Mobility Pvt Ltd, Royal Enfield Ltd. India, Suzuki Motorcycle India Pvt. Ltd., Triumph Motorcycles (India) Private Limited, TVS Motor Company Limited, and Yamaha Motor India Pvt. Ltd..


Key Companies in the India Two Wheeler market include



  • Ampere

  • Ather Energy Pvt. Ltd.

  • Bajaj Auto Ltd.

  • BMW India Private Limited

  • Ducati India Private Limited

  • Hero MotoCorp Ltd.

  • Honda Motorcycle and Scooter India Pvt. Ltd

  • Lohia Auto Industries

  • Okinawa Autotech Pvt. Ltd

  • Ola Electric Mobility Pvt Ltd

  • Royal Enfield Ltd. India

  • Suzuki Motorcycle India Pvt. Ltd.

  • Triumph Motorcycles (India) Private Limited

  • TVS Motor Company Limited

  • Yamaha Motor India Pvt. Ltd.


India Two Wheeler Industry Developments


December 2022: The Tiger 1200 has been unveiled in India, featuring cutting-edge technologies such as a blind-spot radar system, a Showa semi-active suspension setup, a seven-inch TFT display, six riding modes, and a keyless system.


October 2022: The latest upgrade of the Dominar 400 has been launched, designed for avid touring enthusiasts. The sports tourer comes equipped with factory-fitted touring accessories, catering to riders who prioritize robust touring essentials.


August 2022: Yamaha Motor Pvt. Ltd. has introduced an exciting 2022 Monster Energy Yamaha MotoGP Edition lineup in India. The models include the Supersport YZF-R15M, the Dark Warrior MT-15 V2.0, the Maxi-sports Scooter AEROX 155, and the RayZR 125 Fi Hybrid scooter.


India Two Wheeler Market Segmentation:


Two Wheeler Engine Type Outlook



  • Electric

  • Hybrid and Electric Vehicles

  • ICE

Report Attribute/Metric Details
Market Size 2022 USD 302.2 Billion
Market Size 2023 USD 312.77 Billion
Market Size 2032 USD 411.86 Billion
Compound Annual Growth Rate (CAGR) 3.50% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Engine Type and Region
Countries Covered India
Key Companies Profiled Ampere, Ather Energy Pvt. Ltd., Bajaj Auto Ltd., BMW India Private Limited, Ducati India Private Limited, Hero MotoCorp Ltd., Honda Motorcycle and Scooter India Pvt. Ltd, Lohia Auto Industries, Okinawa Autotech Pvt. Ltd, Ola Electric Mobility Pvt Ltd, Royal Enfield Ltd. India, Suzuki Motorcycle India Pvt. Ltd., Triumph Motorcycles (India) Private Limited, TVS Motor Company Limited, and Yamaha Motor India Pvt. Ltd.
Key Market Opportunities Electric Vehicle Adoption Rural Market Penetration
Key Market Dynamics Urbanization and Traffic Congestion Economic Growth and Middle-Class Expansion


Frequently Asked Questions (FAQ) :

The India Two Wheeler market size was valued at USD 302.2 Billion in 2023.

The market is projected to grow at a CAGR of 3.50% during the forecast period, 2024-2032.

The key players in the market are Ampere, Ather Energy Pvt. Ltd., Bajaj Auto Ltd., BMW India Private Limited, Ducati India Private Limited, Hero MotoCorp Ltd., Honda Motorcycle and Scooter India Pvt. Ltd, Lohia Auto Industries, Okinawa Autotech Pvt. Ltd, Ola Electric Mobility Pvt Ltd, Royal Enfield Ltd. India, Suzuki Motorcycle India Pvt. Ltd., Triumph Motorcycles (India) Private Limited, TVS Motor Company Limited, and Yamaha Motor India Pvt. Ltd, among others.

The Electric category dominated the market in 2023.

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