India MBO Two Wheelers Market Outlook to 2027
Driven by economic recovery after COVID and increasing demand for 2Ws is helping the MBOs players to sustain their market position in the high fragmented market structure

KR1310
Slides: 80
March 2023
Author(s): Aishwarya Kochhar, Shruti Singhla
Total Views:1209
Region : Asia
Ken Research
Market Research Report

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About the Report

The report provides a comprehensive analysis of the potential of India MBO 2W Market. The report covers an overview and genesis of the industry, market size in terms of product demand.

Its market segment includes by type of brand, by type of vehicle, by type of Bike, by Engine Capacity, by Financing & Non-financing, by Region, by 2W specification, by gender, by age group, by income level. The report concludes with future market projections of each market segmentation and analyst recommendations

Market Overview

According to Ken Research estimates, the India MBO 2W Market grew at a CAGR of 11.3% from 2017-2022 and is forecasted to grow at a CAGR of 10% in future from 2023-2027F owing to diversification, digitalization & expansion.

Two -wheeler finance can grow via NBFCs if they offer direct support to the MBOs and provide better interest rates along with other additional support. However, this process is slightly difficult due to the unorganized nature of the market. Rise in the ASP of the vehicle will push the lower income group to look for financing options.
Servicing of any brand at one place is preferred by end users with on time delivery and better awareness about the customer choices and preferences. By only maintaining inventory for hot sellers will also help the market to go in right direction. Pilot projects of the foreign brands, Industry knowledge from the existing market scenario and Low impact by the sales drop of a particular brand are some Industry associated growth drivers which will drive the market.

Key Trends by Market Segment

By Type of Vehicle: Motorcycle although comprise of largest share in India 2-Wheeler MBO market, scooter segment is expected to rise sharply in coming years as per primaries. As scooter being more convenient to every family member be it female or old age. And being a low price convenient solution for everyone. The growth is estimated to grow by ~15% in next five years.

india_mbo_two_wheelers_market_chart2

By Engine Capacity: 100-110cc are the most preferred 2W due to the increasing consciousness about the mileage and fuel usage. Another reason is MBO users have a range of 2W to choose where engine capacity is major factor for lower income group.

india_mbo_two_wheelers_market_chart3

Competitive Landscape:

The India 2W MBO Market is highly fragmented major with players occupying almost half of the market. The key players operating in the market are not only competing based on product quality and promotion but are also focusing on strategic moves to hold larger market shares. Some of the major players in the market include Bike Wo Mobility Pvt Ltd, Eco EVOLS Private Limited, M2Go Electric Vehicle Pvt Ltd etc among others.

india_mbo_two_wheelers_market_chart4

Future Outlook

During the forecast period of 2022-2027F, it is anticipated that India 2W MBO Market will grow at a CAGR of 10%. The witnessed significant growth during the period is owing to expansion, diversification and digitalization.

High Penetration E2W with multiple players will help the MBO market to grow in the long future. Commuters will be the dominating segment in 2W due to their cheap and economical variants and corresponding larger TAM.

Scope Of The Report

Scope of the Report

The India 2W MBO Market is segmented By Type of Vehicle, Bike, Organized and Unorganized, Region, Brand, Engine Capacity, 2W Specification and Financing & Non-Financing. In addition, the report also covers market size and forecasts for the four regions in the 2W MBO Markets. The revenue used to size and forecast the market for each segment is INR crore.

By Type of Brand	Honda Hero TVS Bajaj Others
By Type of Vehicle	Motor Cycle Scooter
By Type of Bike	Commuter Sports Scooter
By Gender	Male Female
By Engine Capacity	100-1100 CC 125-135 CC 150-200CC Others
By Financing	Financing Non-Financing
By Region	North South East West
By 2W specification	ICE 2W EV 2W
By Age Group	16-23 years 23-30 years 30-40 years Above 40 years
By Income	Below 5LPA 5-7 LPA 7-10 LPA Above 10 LPA

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Products

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

Two-Wheeler OEM’s
Two-Wheeler Dealers
Online Portals (Aggregators/Marketplace Platform)
Online Classified Platforms
E-Commerce & Hyperlocal Companies
Private Equity Investors
2W Manufacturers

Time Period Captured in the Report

Historical Period: 2016-2022P
Base Period: 2022P
Forecast Period: 2023F-2027F

Companies

Major Players Mentioned in the Report

OEMs

Suzuki
Yamaha
Honda
Bajaj Auto
TVS
Hero
Mahindra
Kawasaki
Ather

MBOs

M2GO
Bhumi Motors
FG Motors
Suzuki
Auto EV Mart
Bike Wo
Speed Force
Alka Auto
City Motors

1. Executive Summary	7-9
1.1 Industry Glance	7
1.2 Executive Summary of Indian MBO Market, FY’22	8
1.3 Executive Summary of MBO Finance Market, FY’22	9
2. Market Overview	10-22
2.1 Overview of the Automotive Industry	11
2.2 Overview and Genesis of Two-Wheeler Industry in India	12
2.3 2-Wheeler new and State-Wise Sales in India	13
2.4 Ecosystem of MBO 2W Market, FY’22	14
2.5 Business Cycle of MBO 2W Market	15
2.6 Value Chain Analysis	16
2.7 Business Models and Business Model Canvas	17-18
2.8 Authorized Vs MBO Sales	19-20
3. Market Size, FY’16-FY’21	21-23
3.1 Market Size on the basis of Volume and Value in INR. Cr., FY’16-FY’22	22-23
4. Market Segmentation, FY’22	24-30
4.1 Market Segmentation on the basis of type of Vehicle, FY’22	25
4.2 Market segmentation on the basis of Type of Bike, FY’22	26
4.3 Market Segmentation on the basis of region of 2W MBO Outlets in India, FY’22	27
4.4 Market segmentation on the basis of Brand, FY’22	28
4.5 Market segmentation on the basis of Engine type, FY’22	29-30
5. Industry Analysis	31-36
5.1 State-wise MBO Distribution in India	32
5.2 Porter’s Five Forces Analysis of India 2W MBO Market	33
5.3 SWOT Analysis of India 2W MBO Market	33
5.4 Growth Enablers and Macroeconomic Factors in India 2W MBO Market	34
5.5 Issues and Challenges in India 2W MBO Market	35
5.6 Trends and Developments in India 2W MBO Market	36
6. Competitive Landscape of Few Players in India 2W MBO Market	37-46
6.1 Competitive scenario, FY’22	38
6.2 Cross Comparison of MBOs on the basis of Business Model, Stores, Sales Per Store, Employees, Inception, Footprints, Inventory, Value Added Services and others, FY’21	39-46
7. Customer Profile	47-52
7.1 Customer Lead Time	48
7.2 Findings on Customer Analysis	49
7.3 Customer Profile Statistics	50
7.4 By Gender (Female, Male), FY’2022	51
7.5 By Age Group, FY’2022	52
7.6 By Income Level, FY’2022	52
8. Snapshot on Financing	53-61
8.1 Engagement Model for 2W MBO Outlets with Finance Partners	54
8.2 Popular Finance Partners who collaborate with 2W MBO Outlets	55
8.3 Market Size for 2W MBO Outlet Finance Market, FY’2022	56
8.4 Popular 2W on which finance is offered	57
8.5 Market Segmentation for 2W MBO Outlet Finance Market basis Duration of Loan, FY’2022	58
8.6 Future Projections for 2W MBO Outlet Finance Market, FY’2023-FY’2027F	59-61
9. Future Outlook and Projections	62-66
9.1 Market Size future by Value and Volume, FY’2023 – FY’2027F	63
9.2 Market segmentation by Motorcycle & Scooter, FY’27F	63
9.3 Market segmentation by Type of Bike (Commuter, Sports and Scooter), FY’27F	63
9.4 Market segmentation by Engine Capacity (100-110CC,125CC-135CC,150CC-200CC), FY’27F	64
9.5 Market segmentation by 2W Brand, FY’2027F	64
9.6 Market segmentation by Regional Demand, FY’2027F	65
9.7 Market Segmentation on Customer Profile Future, 2027F	65
9.8 Future of the MBO 2W Market	66
10. Snapshot on EV	67-68
11. Analyst Recommendations	69-71
12. Research Methodology	72

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Frequently Asked Questions

What is the Study Period of this Market Report?

The India 2W MBO Market is covered from FY’2016-FY’2022P in this report, including a forecast for FY’2023F-FY’2027F.

What is the Future Growth Rate of the India 2W MBO Market?

The India 2W MBO Market is expected to witness a CAGR of 10.1% by value in FY’2027F

What are the Key Factors Driving the India 2W MBO Market?

Servicing of any brand at one place, Support and Guidance from the Authorized dealers, Government incentives and Introduction of EV products in the portfolio.

Which is the largest Vehicle Segment within the India 2W MBO Market?

Motorcycle has a high market share compared to the Scooters in FY’2022

Who are the Key Players in the India 2W MBO Market?

Bike Wo Mobility Pvt Ltd, Eco EVOLS Private Limited, M2Go Electric Vehicle Pvt Ltd among others.

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