Two-wheeler service is a series of maintenance procedures carried
out at a set time interval or after the vehicle has traveled a certain amount
of distance. The service intervals are specified by the vehicle manufacturer. Two-wheeler
repair services market include maintenance and repair of different
parts such as the engine, suspension, battery, shock absorbers, and tires. Tire
services include tire pressure monitoring and replacement of tires, while
battery services comprise replacement of two-wheeler batteries. Vehicle
manufacturers, specialty shops, general repairs franchises, and locally-owned
repair shops offer two-wheeler repair and maintenance services. Specialty shops
are independently-owned shops specializing in doorstep services, breakdown
assistance services, pick-up and drop services, and Annual Maintenance Contract
(AMC) facilities.
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Increase
in Focus on Rider Safety Propelling Global Two-Wheeler Services Market
Breakdown of vehicle components often results in road accidents.
Therefore, vehicle maintenance and servicing must be carried out regularly to
boost vehicle performance. The service life of automotive components is highly
dependent on utilization, as components have threshold lifespan. Regular
motorcycle repair and services ensure rider safety and reduces air pollution.
Thus, increase in focus on rider safety and environmental protection is
expected to boost the growth prospects for global two-wheeler services market
during the forecast period.
Growth of
E-commerce and Last-mile Delivery Sectors Augmenting Two-wheeler Services Market
Growth of the e-commerce sector is expected to offer lucrative
opportunities for players operating in the market. Competitive pricing is a key
benefit of e-commerce websites. Increase in preference for online shopping has
led to rapid growth in the last-mile delivery sector. Key delivery and
e-commerce startups such as Big-basket, Swiggy, and Flipkart are expanding
their regional presence, thereby driving the demand for two-wheelers for
delivering goods and services. This, in turn, is fueling the need for periodic
repair and maintenance of two-wheelers.
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Lack of
Fast Internet Connectivity and Digitalized Service Centers Fueling Traditional
Segment
In terms of service platform, the global two-wheeler services
market has been bifurcated into digital and traditional. The traditional
segment held major share of 85.65% of the global market in 2021. The segment is
estimated to maintain its position in the market during the forecast period.
Nearly 70% of the Indian population lives in rural areas. People
in the rural areas of the country do not opt for the digital medium to book an
appointment for two-wheeler servicing owing to the lack of availability of
resources such as fast internet connectivity and digitalized service centers.
Adoption of smartphones and availability of high-speed network
connectivity is increasing at a rapid pace in rural areas. This is expected to
encourage two-wheeler owners to opt for the digital medium due to the ease and
convenience involved. Thus, digital platform is likely to be the fastest
growing segment of the two-wheeler services market during the forecast period.
Reliability
Factor Propelling Service at Station Segment
In terms of service type, the global two-wheeler services market
has been classified into service at station, doorstep services, pick-up &
drop services, breakdown assistance, and others. The service at station segment
held major share of 82.90% of the global market in 2021. The segment is
estimated to retain its dominance in the market during the forecast period.
Lack of digital awareness in rural areas is a key factor driving the service at
station segment. Additionally, reliability of service providers is another
factor that plays a crucial role in driving the demand for service at station,
especially in rural areas, where customers prefer to visit local service
providers personally. They can also bargain on the services provided at these
centers.
According to the demand analysis of two-wheeler services market,
players offering two-wheeler services are witnessing a transformation in demand
for services. Rise in adoption of smart gadgets and growth in app-based
services are the emerging trends of the two-wheeler services market.
Development of mobile applications and their user-friendly interfaces are
encouraging people to use services such as doorstep, pick & drop facility,
etc. This is creating lucrative opportunities for hi-tech facility enabled
service centers.
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Regional
Outlook of Global Two-wheeler Services Market
In terms of revenue, Asia Pacific dominated the global two-wheeler
services market in 2021. It is expected to hold more than 37.54% share of the
global market by the end of the forecast period. Thus, Asia Pacific is likely
to be the fastest growing market for two-wheeler services owing to the presence
of a prominent automotive industry in China. Rise in population and
urbanization is also a major factor boosting the two-wheeler services market in
the region. China’s emergence as a global manufacturing hub has increased the
demand for two-wheelers. Availability of low-cost labor and raw materials is
boosting the production of aftermarket parts in Asia Pacific. Rise in
two-wheeler production, especially electric two-wheelers, is anticipated to
augment the two-wheeler services market in the region during the forecast
period. Increase in demand for electric two-wheelers and rapid expansion of
OEMs in China, India, and South Korea are further fueling the two-wheeler
services market in Asia Pacific.
Europe also holds vital share of the global two-wheeler services
market owing to the increase in disposable income, competition, and population
in the region. Germany accounts for large share of the two-wheeler services
market in Europe.
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