India Used Two Wheelers Market Outlook to 2023 - Growth of Online Advertising Has Fuelled the Rise of Online Classified Platforms Such as OLX, Quikr, Gaadi.Com - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 14, 2019--The “India Used Two Wheelers Market Outlook to 2023 - By Unorganized and Organized Sector, By C2C and B2C Distribution Channel, By Stock Piece and Customized Two Wheelers; By Motorcycles and Scooters” report has been added to ResearchAndMarkets.com’s offering.
India is the largest producer and manufacturer of two wheelers in the world followed by the Republic of China.
Rising fuel prices is one of the primary growth drivers for two-wheelers due to their higher fuel efficiency. In India, commuters across all age groups use motorized vehicles, especially two wheelers owing to the escalating population and rapid increase in traffic congestion, thereby making two wheelers as the most appropriate and convenient mode of transportation in urban areas.
The market has attained speedy growth over the period of five years from FY′2013 to FY′2018. The demand for used two wheelers has seen a constant rise over the past few years, especially from models like Honda Activa, Aviator, TVS Jupiter, Bajaj Pulsar and Discover. Even in terms of exports, two-wheelers produced in India are the proud products of the Make-in-India initiative where nearly 7 in 10 automobiles delivered out of India are two-wheelers.
Future Outlook and Projections
It is anticipated that the used two wheelers market in India will continue to grow in the coming years as used vehicles are much cheaper to purchase than a new one. Projections for the future suggest that the overall market for used two wheelers in India is likely to showcase a vibrant growth in terms of sales volume in FY′2023E.
Individuals mostly in smaller cities and towns who wish to own a vehicle begin with buying a second hand two-wheeler to get hold of it. In addition, local dealers who have been facing tough competition from the online classifieds will be seen associating with the online players to reach out to greater audiences.
India Used Two Wheelers Market Segmentation
By Market Structure
In FY′2018 the sales volume through the unorganized sector is generated through individual sellers, local dealers/mechanics and small dealerships which collectively contributed to a majority of the proportion in the overall used two wheelers market. On the other hand organized sector was observed to capture the remaining volume share in the FY′2018.
By Distribution Channel
Due to low awareness regarding the existence of organized online and offline players, the majority of transactions conducted in the market are through C2C or offline B2C channel. The C2C channel controlled a major proportion of the total sales volume in the used two-wheeler market during the FY′2018.
By Type of Two Wheelers
India used two wheelers market was continuously dominated by motorcycles with a massive volume share during FY′2018. This is because male riders travelling a longer distance still prefer motorbikes instead of a scooter due to larger engine and greater mileage offered by motorcycles. On the other hand, gearless scooters are trending in the country, especially among female population.
By Engine Capacity
On the basis of engine capacity of two-wheelers, it has been observed that used bikes with 100-110 cc engine capacity have been mostly purchased by buyers. On the other hand, engine capacities with 125-135 cc, 150-200 cc and others have been gaining traction in India.
By Average Ownership Period of Used Two Wheelers
The buying behavior of Indians has witnessed changes over the review period majorly due to a reduction in the ownership period of two wheelers by the owners. It has been observed that presently, Indians mostly use a two-wheeler for at least a period of three to five years before disposing it off.
By Manufacturer of Two Wheelers
The Indian used two wheeler market is dominated by Hero which is also the global leader and largest player in the new two-wheeler market. The company caters to a wide consume base and has segmented its market on the basis of income and age group. Other players including Bajaj, Honda, Yamaha, TVS and Suzuki have been able to contribute the remaining sales volume in India used two wheelers markets during the FY′2018.
By Body Type of Two Wheelers
The category of commuter bikes such as Hero Splendor, Bajaj Discover, and Honda CB Twister contributed to a dominant volume share of used two-wheelers during the FY′2018. The next popular vehicle category in the used-two wheeler space in India has been scooters.
In the FY′2017, majority of the used two wheelers market in terms of sales volume was observed to be highly unorganized thereby constituting individual sellers, local mechanics and small dealerships. On the other hand, the market constitutes of the organized players like Droom, CredR, BikeDekho.com, BikeWale.com, Mahindra First Choice Wheels Limited (MFCWL), BikersHighway and others.
The online used two wheeler market has been emerging along with the rise in the popularity of E-commerce platforms in the country. Growth of online advertising has fuelled the rise of online classified platforms such as OLX, Quikr, Gaadi.com and others have revolutionized the way in which pre-owned vehicles have been sold in the country. The online used two-wheelers market in India has seen year on year growth during the FY′2018.
- Executive Summary
- Research Methodology
- India Used Two Wheelers Market Overview and Genesis
- Business Models Prevalent in India Used Two Wheelers Market
- India Used Two Wheelers Market Size, FY′2013-FY′2018
- Replacement Cycle for Two Wheelers in India Compared to Other Asian Countries (China and Japan)
- India Used Two Wheelers Market Segmentation, FY′2013-FY′2018
- Ownership Transfer Registration for Used Two Wheelers
- Share of Offline and Online Used Two Wheelers Sales in Major Cities of India, FY′2018
- Key Purchase Criteria for Buying a Used Two Wheeler in India
- Key Sales Criteria for Selling a Used Two Wheelers in India
- Trends and Developments in India Used Two Wheelers Market
- Growth Restraints in India Used Two Wheelers Market
- Pre-Requisites to Enter the Online Used Two Wheelers Market Space
- Franchise Scenario in India Organized Used Two Wheelers Market
- Government Regulations in India Used Two Wheelers Market
- India Used Two Wheelers Market Customer Profile
- SWOT Analysis in India Used Two Wheelers Market
- Competitive Landscape in India Used Two Wheelers Market
- Snapshot on India Online Used Two Wheelers Market, FY′2015 - FY′2018
- India Used Two Wheelers Market Future Outlook and Projections
- Analyst Recommendations in India Used Two Wheelers Market
- Mahindra First Choice Wheels Limited (MFCWL)
For more information about this report visit https://www.researchandmarkets.com/research/j5vmlq/india_used_two?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190214005501/en/
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KEYWORD: ASIA PACIFIC INDIA
INDUSTRY KEYWORD: AUTOMOTIVE MOTORCYCLES
SOURCE: Research and Markets
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PUB: 02/14/2019 08:41 AM/DISC: 02/14/2019 08:41 AM