The Indian two-wheeler rental market was valued at USD 38.76 million in 2021 and is expected to reach USD 63.82 million, growing at a CAGR of more than 7% during the Forecasts period (2022 - 2027).
India two wheeler renatl market has witnessed a thump in demand during the outbreak of covid-19 due to the lockdown and restriction norms. This results to flatten the demnad curve and brutually hinders the revenue bar of companies. However, the restrictions has waved-off and the market is gradually picking momentum which is expected to remain in the growth trajectory over the study period.
The booming tourism, rapid urbanization, increasing interest of people in adventure tourism, rapid digitalization, international and national migration, micro-mobility, traffic congestion, the cost associated with owning and maintenance of two-wheelers, have been some of the factors that are expected to fuel the demand for two-wheeler rental market during the Forecasts period.
Two-wheeler rental provides an easy and convenient way to own a motorcycle without paying any maintenance cost for it. Two-wheeler rental companies offer the motorcycles/scooters as per as the requirement of customer based on the hourly, daily, weekly, and monthly renting duration, along with additional facilities like panniers, helmets, riding gears and many more.
Two-wheeler rentals company verifies the renter by validating the driving license and other national certificates. Renting a bike has become easy and convenient after digitalization. Most of the players in this industry have their mobile application by which they provide seamless service at the user’s fingertips. The rapid rise of migration among the students and the young workforce has unlocked a new market segment in the form of two-wheeler rental.
There are generally two kinds of rental firms according to their bike renting duration. In urban areas, the new app-based startups are strengthening their presence by providing app-based dockless scooter rental/sharing service as the urban located player caters to the working professionals and students for their commuting needs.
The scooters are preferred when it comes to short term rental for micro-mobility within restricted areas within the city. When it comes to a tourist location, the local rental players cater to the tourists to explore that destination on their own, where they provide long duration rental services, or either they organize a motorcycle tour/expedition in the popular routes in that destination.
Cities across the country are facing an epidemic of traffic congestion and pollution caused by rapid urbanization that is putting severe pressure on public transportation systems. Two-wheeler rental market is providing a sound solution and a massive boost to local tourism at the same time, as the young generation prefers to explore on two wheels on their own, as it is cheap and convenient. Various startups such as VOGO, Bounce provide QR based dockless rental scooters, this system allows user to unlock and use scooters with the help of smartphone application. The conventional motorcycle rental local players are providing monthly and weekly rental services to the daily commuters.
Electric scooters have started entering into the marketplace slowly in the country. For instance, few Indian startups, such as Zipp and eBikeGo, are providing electric scooters rental services in the selected cities. The penetration of the electric fleet is likely to increase in the rental market during the Forecasts period.
As more than 50% of the population in India is below the age of 25 and more than 65% is below 35. India’s young population and emerging entrepreneurial culture have been significantly supporting shared mobility solutions. Also, India is one of the most preferred countries for bike touring, as the country has rich cultural diversity, and relaxed government regulations make it easy for the riders to travel across the country easily.
The country has some beautiful tropical forests with abundant wildlife and greenery. Its forest tourism industry is well developed, when it comes to mountains, India has some great hill-stations along with the presence of the great Himalayans. These mountains and forests are biker’s paradise for local citizens and foreigners. Motorcycle rentals companies organize tours where they provide a bike for a week or more than a week to the participants for touring, along with support vehicles all through the ride. However, on a riding tour, one can participate with their vehicle too.
The India two-wheeler rental market is highly fragmented, has a countless number of local players active in the market, owing to less requirement of technology, high tourist flow, and cheap and readily available workforce. Although new startups continue to come up in the market to capture the increasing demand in the country, these companies are expanding their presence by increasing their fleet, tapping in new and unexplored potential cities.
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India two wheeler renatl market has witnessed a thump in demand during the outbreak of covid-19 due to the lockdown and restriction norms. This results to flatten the demnad curve and brutually hinders the revenue bar of companies. However, the restrictions has waved-off and the market is gradually picking momentum which is expected to remain in the growth trajectory over the study period.
The booming tourism, rapid urbanization, increasing interest of people in adventure tourism, rapid digitalization, international and national migration, micro-mobility, traffic congestion, the cost associated with owning and maintenance of two-wheelers, have been some of the factors that are expected to fuel the demand for two-wheeler rental market during the Forecasts period.
Two-wheeler rental provides an easy and convenient way to own a motorcycle without paying any maintenance cost for it. Two-wheeler rental companies offer the motorcycles/scooters as per as the requirement of customer based on the hourly, daily, weekly, and monthly renting duration, along with additional facilities like panniers, helmets, riding gears and many more.
Two-wheeler rentals company verifies the renter by validating the driving license and other national certificates. Renting a bike has become easy and convenient after digitalization. Most of the players in this industry have their mobile application by which they provide seamless service at the user’s fingertips. The rapid rise of migration among the students and the young workforce has unlocked a new market segment in the form of two-wheeler rental.
There are generally two kinds of rental firms according to their bike renting duration. In urban areas, the new app-based startups are strengthening their presence by providing app-based dockless scooter rental/sharing service as the urban located player caters to the working professionals and students for their commuting needs.
The scooters are preferred when it comes to short term rental for micro-mobility within restricted areas within the city. When it comes to a tourist location, the local rental players cater to the tourists to explore that destination on their own, where they provide long duration rental services, or either they organize a motorcycle tour/expedition in the popular routes in that destination.
Key Market Trends
Short Term Rentals Capturing Significant Demand
Cities across the country are facing an epidemic of traffic congestion and pollution caused by rapid urbanization that is putting severe pressure on public transportation systems. Two-wheeler rental market is providing a sound solution and a massive boost to local tourism at the same time, as the young generation prefers to explore on two wheels on their own, as it is cheap and convenient. Various startups such as VOGO, Bounce provide QR based dockless rental scooters, this system allows user to unlock and use scooters with the help of smartphone application. The conventional motorcycle rental local players are providing monthly and weekly rental services to the daily commuters.
Electric scooters have started entering into the marketplace slowly in the country. For instance, few Indian startups, such as Zipp and eBikeGo, are providing electric scooters rental services in the selected cities. The penetration of the electric fleet is likely to increase in the rental market during the Forecasts period.
Increasing Preference of Renting Motorcycles in Tourist Spots
As more than 50% of the population in India is below the age of 25 and more than 65% is below 35. India’s young population and emerging entrepreneurial culture have been significantly supporting shared mobility solutions. Also, India is one of the most preferred countries for bike touring, as the country has rich cultural diversity, and relaxed government regulations make it easy for the riders to travel across the country easily.
The country has some beautiful tropical forests with abundant wildlife and greenery. Its forest tourism industry is well developed, when it comes to mountains, India has some great hill-stations along with the presence of the great Himalayans. These mountains and forests are biker’s paradise for local citizens and foreigners. Motorcycle rentals companies organize tours where they provide a bike for a week or more than a week to the participants for touring, along with support vehicles all through the ride. However, on a riding tour, one can participate with their vehicle too.
Competitive Landscape
The India two-wheeler rental market is highly fragmented, has a countless number of local players active in the market, owing to less requirement of technology, high tourist flow, and cheap and readily available workforce. Although new startups continue to come up in the market to capture the increasing demand in the country, these companies are expanding their presence by increasing their fleet, tapping in new and unexplored potential cities.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Fae Bikes
- VOGO
- Bounce
- Wheelstreet
- Wickedride Adventure Services
- ONN Bikes Rental
- Yulu
- Drivezy
- Moto Business Service India
Methodology
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