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.
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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.
“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.
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“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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