India Two Wheeler Market Analysis by Mordor Intelligence
The India two wheeler market size is expected to increase from USD 30.29 billion in 2026 to USD 31.81 billion in 2027 and reach USD 41.5 billion by 2032, growing at a CAGR of 5.46% over 2027-2032. The market's volume is expected to increase from 22.49 million units in 2026 to 23.3 million units in 2027 and reach 27.81 million units by 2032, growing at a CAGR of 3.6% over 2027-2032.
Commuting and delivery activity support demand for motorcycles and scooters in India. Public incentives for eligible electric two-wheelers and battery services help suppliers broaden vehicle access. The West Asia conflict disrupted Gulf-region supply chains from March 2026, adding sourcing pressure. Suppliers can pair scooters with swapping or rental access to address delivery riders' cost and charging barriers, although higher cell costs complicate pricing.
Key Report Takeaways
- By vehicle type, motorcycles led with a 73.8% India two wheeler market share in 2026, while scooters are the fastest-growing segment at a forecast 6.45% CAGR over 2027-2032.
- Within propulsion, internal combustion engine vehicles led with an 87.93% share of the India two wheeler market size in 2026, and electric vehicles lead forecast growth at a 7.4% CAGR over 2027-2032.
- Across engine capacity and motor power, internal combustion engine vehicles held the leading 87.93% share of market value in 2026, while electric models are forecast to expand fastest at a 7.4% CAGR over 2027-2032.
- By price band, vehicles priced up to USD 1,000 led with 47.81% of market value in 2026, while the USD 1,501-2,000 band has the fastest forecast CAGR of 7.85% over 2027-2032.
- Among end users, B2C held the largest share at 91.13% of market value in 2026, with B2B forecast to grow fastest at a 6.85% CAGR over 2027-2032.
- In sales channels, offline led with 95.26% of market value in 2026, whereas online is the fastest-growing segment at a forecast 7.45% CAGR over 2027-2032.
- Across states, Uttar Pradesh accounted for the leading 12.19% of market value in 2026, and Tamil Nadu has the fastest forecast CAGR at 8.3% over 2027-2032.
Note: Market numbers in this report are based on Mordor Intelligence's proprietary estimation framework, which combines nine months of actuals with Q4 projections for base year 2026.
Market Trends and Insights
Drivers Impact Analysis of India Two Wheeler Market*
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| PM E-DRIVE Subsidy Extension and State-EV Incentives | +1.9% | Nationwide | Short term (≤ 2 years) |
| Urban Congestion Driving 2W Preference | +1.7% | Bengaluru, Pune, Mumbai and New Delhi | Long term (≥ 4 years) |
| Swappable-Battery Business Models Lowering TCO | +1.3% | Nationwide | Medium term (2-4 years) |
| Tier-II/III E-Commerce Boom Boosting Last-Mile Demand | +1.1% | Nationwide | Medium term (2-4 years) |
| Digital Lending Expanding Credit to Informal Riders | +0.9% | Nationwide | Medium term (2-4 years) |
| ICE Export Demand Sustaining Domestic Scale | +0.7% | Nationwide | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
PM E-DRIVE Subsidy Extension and State-EV Incentives
An extended incentive window gives eligible electric two-wheeler buyers a longer period in which public support can offset acquisition costs. On August 10, 2026, the Ministry of Heavy Industries extended PM E-DRIVE incentives for registered electric two-wheelers through March 31, 2028. The scheme or relevant subcomponent closes earlier if its funds are exhausted, after which further claims are not accepted.[1] For manufacturers, public support can improve an eligible vehicle's acquisition-cost proposition without requiring an equivalent discount from the vehicle's own margin. Because eligibility ends on March 31, 2028 or earlier if funds run out, this pricing advantage favors suppliers able to deliver eligible electric two-wheelers within that window.
Urban Congestion Driving 2W Preference
Urban work travel places two-wheeler use alongside substantial city congestion. In the July 2025-June 2026 National Household Travel Survey, two-wheelers were the primary commute mode for 52.3% of urban workers aged 15 and above making within-day trips to fixed or non-fixed workplaces. TomTom reported 2025 congestion levels of 74.4% in Bengaluru, 71.1% in Pune, 63.2% in Mumbai and 60.2% in New Delhi. Mumbai's reading fell 3.3 percentage points year over year, while congestion increased in the other 3 cities. Bengaluru and Pune had the highest congestion exposure among these cities. Commuter-oriented scooter and motorcycle offers can address the recurring work journey without depending on travelers switching transport modes.
Swappable-Battery Business Models Lowering TCO
For working riders, battery swapping can support electric-scooter purchases by reducing time committed to replenishing energy. In December 2025, Indofast Energy and Quantum Energy launched the Bziness XS electric scooter in India under a battery-as-a-service model with swapping.[2] At the launch, Indofast's network comprised more than 1,100 swap stations across 22 cities and processed 1.4 million swaps monthly. The service allowed depleted batteries to be exchanged for charged ones in under 2 minutes. For a rider whose route reaches that network, faster replenishment can reduce the working-time cost associated with charging stops. The demand advantage therefore depends on usable station access as well as the vehicle offer.
Tier-II/III E-Commerce Boom Boosting Last-Mile Demand
Expanding delivery activity creates a commercial route for two-wheeler suppliers through locally operated fleets. Unicommerce's FY2026 D2C platform data showed that Tier 2 and Tier 3 cities generated 66% of incremental order volumes. EVeez opened a Mysuru franchise hub and reported electric bikes operating on local delivery routes as e-commerce and quick commerce expanded. Its riders used subscription vehicles with maintenance and batteries handled by the service provider. That operating arrangement connects delivery workloads to vehicle availability without requiring each rider to purchase a bike. New-vehicle suppliers can consequently address this demand through fleet-service relationships alongside individual rider sales.
Restraints Impact Analysis of India Two Wheeler Market*
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Battery-Raw-Material Price Volatility | -0.9% | Nationwide | Short term (≤ 2 years) |
| Sparse Charging/Swapping Infra Outside Metros | -0.7% | Kalahandi and Koraput districts | Medium term (2-4 years) |
| Policy Uncertainty on GST and Import Duties | -0.3% | Nationwide | Short term (≤ 2 years) |
| Rising Insurance Premiums for Road-Safety Compliance | -0.2% | Nationwide | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Battery-Raw-Material Price Volatility
The West Asia conflict and resulting Gulf-region supply-chain disruption from March 2026 added exposure to electric two-wheeler sourcing. In May 2026, Indian manufacturers flagged rising lithium, nickel and cobalt prices. Industry executives reported that lithium-ion cells had become 30-50% costlier depending on sourcing timelines. For vehicle makers, that variation creates different cost burdens across procurement cycles, making a uniform retail-price response commercially difficult. Absorbing the increase would compress the margin available on affected vehicles, while passing it through would weaken their acquisition-cost proposition. Electric two-wheeler demand therefore faces a pricing constraint even where underlying buyer interest supports expansion.
Sparse Charging/Swapping Infra Outside Metros
Outside major urban networks, a charging gap can make an electric two-wheeler unsuitable for a rider's intended route. Residents of Kalahandi and Koraput generally did not prefer EVs, citing limited charging infrastructure among several concerns. They also identified hilly terrain, reduced range on steep roads, charging time, vehicle cost and remote servicing. For a prospective electric two-wheeler buyer in those conditions, vehicle range and replenishment access must work together before the purchase offers dependable mobility. Adding a vehicle alone would leave the route constraint unresolved. Suppliers therefore face a narrower addressable customer base where energy access and service reach cannot support the intended journey.
*Our forecasts treat driver/restraint impacts as directional, not additive. The impact forecasts reflect baseline growth, mix effects, and variable interactions.
India Two Wheeler Market Segment Analysis
By Vehicle Type:
Motorcycle Scale Meets Scooter ExpansionMotorcycles accounted for a 73.8% share of the India two wheeler market size in 2026, making them the largest segment. Bajaj Auto's FY2026 report, citing SIAM, put the domestic motorcycle industry at approximately 13.1 million units, up 6.6%. The increase took domestic motorcycle volume to its highest level since FY2019, so the largest segment was also adding unit demand.
Scooters are the fastest-growing segment, with a forecast CAGR of 6.45% over 2027-2032. SIAM reported that India's scooter sub-segment grew 27.7% in July-September 2026 compared with July-September 2025.[3] The expansion gives scooter-focused suppliers a growing quarterly demand pool, distinct from the longer-term forecast. Scooters also outgrew motorcycles in that quarter, so motorcycle-heavy portfolios had less exposure to the faster-expanding category.
By Propulsion:
Conventional Capacity and Electric AdoptionInternal combustion engine vehicles represented an 87.93% India two wheeler market share in 2026, making them the largest segment. Bajaj Auto's Waluj plant had annual capacity for 2.7 million motorcycles as of March 31, 2026. Dhoot Transmission Limited's prospectus, citing SIAM, VAHAN and CRISIL Intelligence, put electric vehicles at 6.4% of FY2026 domestic two-wheeler sales volume, using VAHAN retail data for EVs. Combustion models therefore supplied most of the units that plants such as Waluj are sized to produce.
Electric vehicles are the fastest-growing segment, with a forecast CAGR of 7.4% over 2027-2032. India recorded 1.4 million electric two-wheeler registrations in FY2025-26, up 21.8% from FY2024-25, according to Vahan data. The larger registered-vehicle flow creates room to recover electric-vehicle development and distribution costs across more sales.
By Engine Capacity / Motor Power:
Performance Differentiation Across PowertrainsInternal combustion engine vehicles were the largest segment, with an 87.93% share of market value in 2026. Royal Enfield reported 1.11 million domestic motorcycle sales in FY2025-26, ending March 31, 2026, up 23% year over year. The brand entered electric mobility in April 2026, after the fiscal year closed, so those sales came from combustion-engine motorcycles. That result shows an established combustion-engine brand expanding domestic demand ahead of its electric launch.
Electric models are the fastest-growing segment within engine capacity and motor power, with a forecast CAGR of 7.4% over 2027-2032. Electric two-wheeler retail rose 88.67% year over year to 207,314 units in September 2026. FADA's reading covered 1,468 of 1,469 RTOs, with data collated on October 3, 2026. FADA also reported electric two-wheeler penetration of 11.6% in September 2026, up from 8.2% a year earlier, so electric models took a larger share of retail as well as adding units.
By Price Band:
Budget Scale and Premium Electric DemandThe band priced up to USD 1,000 was the largest segment, with a 47.81% share of market value in 2026. Hero MotoCorp reported highest-ever Splendor+ retail sales of more than 3.4 million units in FY2025-26 since the model's 1994 launch. Autocar India listed October 2026 Splendor+ ex-showroom prices at INR 77,780-82,910 (USD 814.3-868.1 using the September 2026 monthly-average rate), within this band. The model's record retail volume shows a substantial commercial opening for an established commuter offer below this price ceiling.
The USD 1,501-2,000 band is the fastest-growing segment, with a forecast CAGR of 7.85% over 2027-2032. Bajaj Auto attributed its record March 29-30, 2025 Gudi Padwa weekend sales in India to demand for the Chetak 35 electric-scooter series. The 3502 started at INR 130,000 (USD 1,519), while the upper model was priced at INR 142,000 (USD 1,659), using the March 2025 period-end reference rate. For suppliers, this example indicates room to sell an electric scooter at a higher acquisition price when product appeal is strong.
By End User:
Consumer Financing and Fleet ProcurementB2C was the largest segment, with a 91.13% share of market value in 2026. Hero MotoCorp reported that retail finance contributed more than 60% of its sales volumes in FY2025-26. Its Digital Retail Finance Platform onboarded more than 17 financiers offering loan sanctions in under 5 minutes. Because more than 60% of Hero MotoCorp's volumes were financed, loan sanction speed is a direct input to its consumer sales, and the platform's under-5-minute sanctions address that step.
B2B is the fastest-growing segment, with a forecast CAGR of 6.85% over 2027-2032. In June 2025, Wardwizard Innovations & Mobility Limited secured an order from SpeedforcEV for 2,500 Wolf+ electric scooters for fleet deployment. The announced arrangement assigned vehicle leasing to SpeedforcEV and delivery-contract management to Ferry Automotive. Earlier, in February 2025, Wardwizard and SpeedforcEV had deployed an initial 100 electric two-wheelers in Hyderabad for last-mile delivery. SpeedforcEV's assigned service and technical-support duties make vehicle uptime part of the fleet proposition, so suppliers face an operating requirement alongside the scooter order.
By Sales Channel:
Physical Reach and Digital AccessOffline was the largest segment, with a 95.26% share of market value in 2026. Hero MotoCorp had more than 1,400 Hero 2.0 stores across India at FY2025-26 year-end, illustrating the reach of one producer's physical retail format. Hero MotoCorp upgraded 490 existing dealers into Hero 2.0 stores during FY2025-26, which its annual report describes as strengthening access to a modern retail experience across India. Its Hero 2.0 network therefore expanded in part by converting existing dealers to the new store format.
Online is the fastest-growing segment, with a forecast CAGR of 7.45% over 2027-2032. Amazon India reported that two-wheeler sales on its marketplace grew 1.65 times year over year during Prime Day 2026. During the event, 7 in 10 buyers of Harley-Davidson, KTM and Triumph motorcycles came from Tier 2 and Tier 3 cities. For these motorcycle brands, online selling offers access to dispersed smaller-city demand.
Geography Analysis
Uttar Pradesh Two Wheeler Market
Uttar Pradesh accounted for a 12.19% share of the India two wheeler market size in 2026, making it the largest geography. SIAM data put the state's two-wheeler sales at 3.18 million units in FY2025-26. Suzuki Motorcycle India opened its first Bareilly dealership on August 14, 2026, bringing its own state network to 63 touchpoints. Shreejee Autozone LLP operated the integrated sales, service and spare-parts outlet, linking the vehicle purchase to local upkeep.
Tamil Nadu Two Wheeler Market
Tamil Nadu is the fastest-growing geography, with a forecast CAGR of 8.3% over 2027-2032. The state recorded 1.41 million non-transport motorcycle registrations in FY2024-25. In May 2026, Hero MotoCorp added PREMIA stores in Dindigul and Tiruppur, bringing its Tamil Nadu PREMIA total to 11. Palaniappas Motors and Velavan Motors operated the respective newly opened outlets, extending premium retail access through local dealer businesses. Added premium access gives manufacturers a route to higher sales value alongside an established motorcycle demand base, so expansion can involve product mix as well as vehicle volumes.
Maharashtra's delivery use included India Post Mumbai Region's December 2025 launch of more than 200 electric two-wheelers for 5 Mumbai delivery centers. Across vehicle categories, EV charging installations over the 5 years reported in December 2025 were higher in Karnataka and Delhi than in Gujarat, Rajasthan, Telangana, Kerala and Madhya Pradesh. Andhra Pradesh, Bihar, West Bengal, Haryana and Punjab had lower totals than the latter group, indicating different infrastructure starting points for expansion. Within Rest of India, Assam recorded 345 EV charging stations over the same period, including 96 fast and 249 slow chargers. For delivery fleets considering Assam, the slow-charger majority makes charging duration a practical constraint on scheduling delivery routes.
Regulatory Framework and Outlook
The comparison covers selected jurisdictions from the perspective of manufacturers and sellers of registered pure-electric two-wheelers. National approval obligations shape the vehicle's compliance route, while Uttar Pradesh's concessions affect the buyer's registration-related costs. A state concession can strengthen the sales proposition while leaving the vehicle subject to its applicable central approval duties.
Regulatory Table of India Two Wheeler Market
| Decision factor | India, national approval framework | Uttar Pradesh, buyer concessions |
|---|---|---|
| Primary authority | Ministry of Road Transport and Highways, with notified testing agencies | Uttar Pradesh Transport Department |
| Key instruments or direction | CMVR Rule 126, AIS 156 and AIS 038 Rev. 2 for the applicable vehicle categories | Registration-fee and road-tax exemptions for eligible pure EVs purchased and registered in the state, October 14, 2025-October 13, 2027 |
| Commercial effect | Prototype submission, testing and type-approval certification | Removes 100% of registration fees and road tax for qualifying vehicles during the specified period |
| Current policy attractiveness | Medium | High |
| Future direction of policy attractiveness | No change | Hardening |
| Source: Mordor Intelligence | ||
National approval requirements create a defined compliance obligation for registered-vehicle suppliers, supporting a medium attractiveness rating and continuity in that commercial requirement. The August 21, 2026 draft concerned the exemption for qualifying low-speed battery-operated two-wheelers, a separate population from registered vehicles, and retained proposed status after its proposed October 1 commencement date. Uttar Pradesh's high rating reflects the elimination of both charges for eligible pure EVs purchased and registered locally during the stated period. The scheduled October 13, 2027 end of those concessions supports a hardening outlook for the same suppliers as buyers lose that specified purchase-cost relief.
Value Chain Stages
The comparison follows the handoffs from specialized control components to complete vehicles and their retail distribution. SEDEMAC designs and manufactures sensorless-commutation integrated starter-generator electronic control units for ICE-powered two- and three-wheelers, illustrating a supplier capability that an assembler must integrate into a finished vehicle. This division gives component specialists an opportunity to earn through embedded technology while vehicle manufacturers retain responsibility for the complete product. The downstream network determines how that product reaches a final buyer.
Value Chain Analysis Table of India Two Wheeler Market
| Primary activity | Key participants | Value capture | Bottleneck | Resilience response |
|---|---|---|---|---|
| Control-component design and manufacture | Control-unit suppliers such as SEDEMAC | Component sales | Vehicle-specific controller integration | Coordinate controller validation with the assembler |
| Complete-vehicle manufacture | ICE two-wheeler manufacturers such as Bajaj Auto Ltd., TVS Motor Company Ltd. and Royal Enfield | Complete-vehicle sales | Coordinating component readiness with vehicle assembly | Align component release and assembly milestones |
| Retail distribution | Vehicle distribution networks such as Hero MotoCorp's authorized dealerships and dealer-appointed outlets | Vehicle resale revenue | Sustaining local sales and service coverage | Develop service support alongside vehicle outlets |
| Source: Mordor Intelligence | ||||
Specialized electronics create an integration boundary where supplier capability and assembler execution jointly affect the finished product. SEDEMAC's sensorless-commutation integrated starter-generator controller serves ICE-powered two- and three-wheelers, while electric vehicles are the fastest-growing propulsion segment. Electric growth therefore does not automatically enlarge demand for this combustion-specific control unit.
Competitive Landscape
Market Concentration
An established manufacturer group anchors competition, including Bajaj Auto Ltd., Hero MotoCorp Ltd., Suzuki Motorcycle India Pvt. Ltd., TVS Motor Company Ltd. and Honda Motorcycle and Scooter India Pvt. Ltd. Bajaj Auto sold 2.04 million motorcycles domestically in FY2026, while its domestic motorcycle share fell from 16.6% in FY2025 to 15.6% in FY2026. Hero MotoCorp shipped 739,018 two-wheelers domestically in September 2026, up 14.12% year over year. Bajaj Auto attributed its share decline to differing segment growth and heightened competitive intensity, particularly in entry and mid-commuter motorcycles, locating the contest within commuter categories.
Product strategy combines differentiated features with the ability to serve demand at scale. TVS Motor Company launched its 149.7cc NTORQ 150 in India on September 4, 2025, with segment-first Alexa and smartwatch integration, adding a specific connectivity distinction to its scooter offer. Suzuki Motorcycle India reached 10 million cumulative motorcycle production units on January 8, 2026, after starting production in February 2006. Honda recorded 517,329 domestic two-wheeler sales in August 2026, up 8% year over year. TVS's launch places connectivity differentiation within the established manufacturer group, leaving smaller entrants less room to distinguish their offers through features alone.
Electric competition also gives manufacturers room to build a position beyond their conventional motorcycle franchises. Bajaj Auto reported 302,674 domestic Chetak electric-scooter sales in FY2026, illustrating a substantial complete-vehicle business within this transition. On October 6, 2025, Ola Electric Mobility Ltd. received Global Automotive Research Centre certification for its in-house ferrite motor after mandatory AIS 041 motor-power testing. The tested 7 kW and 11 kW variants matched rare-earth permanent-magnet motors in net power, creating a verified performance basis for a different motor approach. Certified component performance can strengthen a challenger's technical position, while the commercial advantage ultimately depends on incorporating that capability into vehicles buyers choose.
India Two Wheeler Industry Leaders
-
Bajaj Auto Ltd.
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Hero MotoCorp Ltd.
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Suzuki Motorcycle India Pvt. Ltd.
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TVS Motor Company Ltd.
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Honda Motorcycle and Scooter India Pvt. Ltd.
- *Disclaimer: Major Players sorted in no particular order
India Two Wheeler Market Companies Covered in this Report
- Hero MotoCorp Ltd.
- Honda Motorcycle and Scooter India Pvt. Ltd.
- TVS Motor Company Ltd.
- Bajaj Auto Ltd.
- Suzuki Motorcycle India Pvt. Ltd.
- Royal Enfield
- India Yamaha Motor Pvt. Ltd.
- Piaggio Vehicles Pvt. Ltd.
- Mahindra & Mahindra Ltd.
- India Kawasaki Motors Pvt. Ltd.
- Greaves Electric Mobility Ltd.
- Ather Energy Ltd.
- Okinawa Autotec Pvt. Ltd.
- Ola Electric Mobility Ltd.
- Revolt Intellicorp Pvt. Ltd.
- Kinetic Green Energy and Power Solutions Ltd.
- Simpleenergy Pvt. Ltd.
Recent Industry Developments in India Two Wheeler Market
- Aug 2026: TVS Motor Company Ltd. introduced the iQube MillionR special-edition electric scooter in India on August 25, based on the 3.5 kWh variant with a 145-kilometer IDC range.
- Aug 2026: The Ministry of Heavy Industries extended PM E-DRIVE incentives for registered electric two-wheelers on August 10 through March 31, 2028, subject to available scheme funds.
- Apr 2026: Ather Energy's Rizta family scooter reached 309,501 cumulative domestic dispatches by month-end.
Scope and Methodology
By Vehicle Type
| Motorcycles |
| Scooters |
By Propulsion
| Internal Combustion Engine |
| Electric |
By Engine Capacity / Motor Power
| Internal Combustion Engine | Up to110 cc |
| 111-125 cc | |
| 126-150 cc | |
| 151-200 cc | |
| 201-250 cc | |
| 250-350 cc | |
| 350-500 cc | |
| Above 500 cc | |
| Electric | Up to 1.0 kW |
| 1.1-3.0 kW | |
| 3.1-5.0 kW | |
| Above 5.0 kW |
By Price Band
| Up to USD 1,000 |
| USD 1,000-1,500 |
| USD 1,501-2,000 |
| USD 2,001-3,000 |
| USD 3,001-5,000 |
| Above USD 5,000 |
By End User
| B2C | |
| B2B | Ride-hail / Bike-Taxi / Rental / Tourism |
| Delivery and Logistics | |
| Corporate and SME Fleets | |
| Others (Govt, Institutional, NGO) |
By Sales Channel
| Online |
| Offline |
By Geography
| Uttar Pradesh |
| Maharashtra |
| Tamil Nadu |
| Karnataka |
| Gujarat |
| Rajasthan |
| Andhra Pradesh |
| Bihar |
| West Bengal |
| Telangana |
| Kerala |
| Madhya Pradesh |
| Haryana |
| Punjab |
| Delhi |
| Rest of India |
| By Vehicle Type | Motorcycles | |
| Scooters | ||
| By Propulsion | Internal Combustion Engine | |
| Electric | ||
| By Engine Capacity / Motor Power | Internal Combustion Engine | Up to110 cc |
| 111-125 cc | ||
| 126-150 cc | ||
| 151-200 cc | ||
| 201-250 cc | ||
| 250-350 cc | ||
| 350-500 cc | ||
| Above 500 cc | ||
| Electric | Up to 1.0 kW | |
| 1.1-3.0 kW | ||
| 3.1-5.0 kW | ||
| Above 5.0 kW | ||
| By Price Band | Up to USD 1,000 | |
| USD 1,000-1,500 | ||
| USD 1,501-2,000 | ||
| USD 2,001-3,000 | ||
| USD 3,001-5,000 | ||
| Above USD 5,000 | ||
| By End User | B2C | |
| B2B | Ride-hail / Bike-Taxi / Rental / Tourism | |
| Delivery and Logistics | ||
| Corporate and SME Fleets | ||
| Others (Govt, Institutional, NGO) | ||
| By Sales Channel | Online | |
| Offline | ||
| By Geography | Uttar Pradesh | |
| Maharashtra | ||
| Tamil Nadu | ||
| Karnataka | ||
| Gujarat | ||
| Rajasthan | ||
| Andhra Pradesh | ||
| Bihar | ||
| West Bengal | ||
| Telangana | ||
| Kerala | ||
| Madhya Pradesh | ||
| Haryana | ||
| Punjab | ||
| Delhi | ||
| Rest of India | ||
Market Definition
- Vehicle Type - The category covers motorized two-wheelers.
- Vehicle Body Type - This includes Scooters and Motorcycles, while Kick-scooters and Bicycles are excluded.
- Fuel Category - Coverage extends to vehicles powered by Internal Combustion Engines (ICE) and electric propulsion systems.
| Keyword | Definition |
|---|---|
| Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
| Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
| Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
| Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
| Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
| Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
| Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
| M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
| Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
| Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
| Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
| LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
| CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
| HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
| PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
| Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
| Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
| SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
| MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
