India Two-Wheeler Hand Hold Market to be dominated by Motorcycle type till FY2027
Rise in the incidence of
road accidents and stringent safety regulations are expected to drive the
demand for India two-wheeler hand hold market for the forecast period.
According
to TechSci Research report, “India
Two-Wheeler Hand Hold Market By Vehicle Type (Scooter/Moped and
Motorcycle), By Demand Category (OEM vs Replacement), By Region, Competition
Forecast & Opportunities, FY2027”, the India two-wheeler hand hold market is expected at a
rate of significant CAGR for the next five years, FY2023-FY2027. The continuous
rise in the population and the surge in the working population are influencing
the demand for two-wheeler vehicles. High-end investments by the leading
authorities for the development of the rural areas and the large-scale road construction
projects improving the connectivity are driving the demand for two-wheelers in
the region. Rapid urbanization is increasing the number of daily commuting
people and the surge in vehicle sales is increasing the occurrence of traffic
congestions. People prefer two-wheeler vehicles to run shorter errands and to
navigate easily through the dense traffic congestion. Two-wheelers are more
affordable, fuel-efficient, and require less parking space than four-wheeler
vehicles. The growing concerns towards the rising environmental pollution and
the high demand for zero-emission vehicles are boosting the demand for electric
vehicles. Supportive government policies promote the development of charging
infrastructure and domestic manufacturing by providing income tax rebates. Sub
subsidies to the manufacturers are expected to accelerate the demand for the
two-wheeler hand hold market. The rise in riders' awareness to ensure the
passenger's safety while traveling at high speeds and the growing vehicle sales
are expected to accelerate the demand of India's two-wheeler hand hold market.
An increase in the number of women driving is fueling the demand for scooters
equipped with safety features. High-end investments by the market players for
the research and development activities to upgrade the existing two-wheeler
models and incorporate safety measures to enhance the safety of rider and
passengers is expected to contribute to the market growth. Innovative features
such as an anti-lock braking system, larger fuel tanks, and air-cooled engine
systems are increasing the sales of two-wheeler vehicles, which is accelerating
the demand of the two-wheeler hand hold market. Integration of technologies
that can alert the rider about the fuel, tire, and need for servicing is driving
the sale of two-wheelers.
However, increasing petrol prices may restrain the
India two-wheeler hand hold market growth for the forecast period.
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India two-wheeler hand hold market is segmented into vehicle type,
demand category, regional distribution, and company. Based on vehicle type, the
market is divided into scooter/moped and motorcycle. The motorcycle segment is
expected to hold the largest market share for the forecast period,
FY2023-FY2027. The growing disposable income and convenience and the comfort of
the rider are expected to drive the demand for the motorcycle in the region.
The motorcycle engine is more fuel-efficient and has a higher speed than the
scooter. Motorcycles have larger fuel tanks which lower the need for refueling
less often. Motorcycles are designed to satisfy various purposes, including
sports activities, commuting, cruising, racing, and off-road riding. The
growing trend of solo road trips and long-distance traveling is accelerating
the demand for motorcycles as they have higher fuel efficiency and better
mileage than scooters.
Tag Motors Limited, Span
Autotech Pvt. Ltd., R. M. Components Private Limited, Dongguan Hongyi Carbon
Fiber Technological Co., Ltd., SZ Motorcycle Industries Ltd are the leading players
operating in India two-wheeler hand hold market. Manufacturers are increasingly
focusing on research and development process to fuel higher growth in the
market. To meet evolving customer demand with respect to better efficiency and
durability, several two-wheeler hand hold manufacturers are coming up with
their technologically advanced offerings.
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“The
availability of easy financing options for increasing the affordability for
two-wheeler vehicles and the adoption of attractive marketing strategies for
market expansion significantly contributes to the growth of India two-wheeler
hand hold market. Market players are exploring business models such as e-commerce
to surge the sales of two-wheelers and developing fuel-efficient models to
surge the sales of two-wheeler vehicles. The imposition of strict rules by the
leading authorities to introduce two-wheeler vehicles equipped with hand hold
is expected to propel the India two-wheeler hand hold market growth till FY2027”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“India Two-Wheeler Hand Hold Market By Vehicle Type (Scooter/Moped
and Motorcycle), By Demand Category (OEM vs Replacement), By Region,
Competition Forecast & Opportunities, FY2027”, has evaluated the future growth potential of India two-wheeler
hand hold market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India two-wheeler hand hold
market.
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