The report titled “India Rental Two Wheeler Market Outlook to 2025 – Driven by Introduction of Electric Vehicles and Adoption of Dockless System in Vehicles” provides a comprehensive analysis of rental two wheeler operations in India. The report covers various aspects including the market size (by GTV and fleet size), business cycle, timeline, market segmentation by organized and unorganized market (by GTV and fleets), by owned and leased (organized market fleets), by major cities (Bangalore, Goa, Mumbai, Pune, Jaipur, Delhi NCR, Hyderabad), by type of two wheelers (scooters, motorcycles and e-bikes), by type of bike (commuter, sports bike & high end), by purpose (commuting and leisure), by booking package (hourly, daily, weekly and monthly), by online booking (website & app) and offline booking (physical store, via call), by intracity and intercity bookings, FY’2020.
The report also covers the overall competitive landscape; growth drivers, challenges and trends & developments. It also focuses upon the customer behavior analysis towards the rental two wheeler services. The report concludes with projections for future of the industry including forecasted market size & segmentation in terms of revenue by 2025, Covid-19 impact and analysts’ take on the future.
India Rental Two Wheeler Market Overview and Size
The concept of two wheeler rental is not a new concept in India. Tourist destinations like Leh & Ladakh, Kerala and Goa are full of two wheeler renting vendors offering affordable bikes to tourists for leisure. It is also solving the major problem of last mile connectivity and micro mobility in metro cities and semi urban cities where hardly any public transportation is seen. Undoubtedly, the concept of two wheeler renting is booming in the country. With the quest to make bike renting quicker and hassle free process, several startups and vendors are working on their unique business models. Interesting startups and their unique offerings are building up a successful bike rental market in India. The market has attained speedy growth over the period of three years from FY’2017 to FY’2020. Major companies like Bounce, Vogo, Royal Brothers, Onn Bikes, Yulu Bikes, etc. have entered the entered the market in last 5-6 years and since then the market has evolved drastically.
India Rental Two Wheeler Market Segmentations
By Market Structure: In FY’2020 the majority of the proportion (in terms of GTV) was contributed by the organized sector owing to startups having higher presence, large fleet base and providing urban commute solution.
By Major Cities: Majority of the demand for rental two wheelers generated from the southern cities in India such as Bengaluru and Hyderabad. One of the major reasons behind this is that majority of the start ups are based in these cities. Moreover, workforce migration to these cities, heavy traffic congestions have also led to the higher demand.
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By Type of Two Wheeler: India rental two wheeler market is dominated by scooters during FY’2020. This is because gearless scooters are trending in the country, among both male and female population. It is a cheaper and convenient as compared to bikes. Moreover scooters are more prevalent in tourist destinations such as Goa and Pondicherry.
By Purpose: Workplace commuting is the main reason behind renting a two wheeler in India. Previously rental solutions majorly served leisure purpose and only focused upon tourist destinations but with the entrance of companies such as Bounce and Vogo, the situation has completely changed. These players majorly focus upon Point A to Point B commute and are comparatively cheaper and hassle free.
By Packages Offered: Daily and hourly packages are the most sought after plan for rental services. Owing to Covid-19 pandemic, more players are focusing upon long term rental plans as the customers would not only feel safer but also secure about having immediate access to the outside world whenever they wanted. Moreover, B2B tie-ups generally focus upon having a monthly contract.
Competitive Landscape of India Rental 2W Market
India rental two wheelers market competition structure was observed to be highly fragmented with the presence of ~ 15,000 unorganized players. Although, organized players such as Bounce, Vogo, Drivezy, Onn Bikes, Yulu Bikes, Royal Brothers, and others contribute a significant share in the overall market. Pricing, models & packages offered, type of vehicles, areas of operations, vehicle & service quality, investor/client tie-ups, value added services offered, number of pick up and drop points are some of the critical parameters on the basis of which companies compete in the organized segment.
India Rental Two Wheeler Market Future Outlook & Projections
Rental two wheeler market is expected to recover from the Covid-19 pandemic and witness growth by mid of 2021. India’s young population and emerging entrepreneurial culture is all set to drive the rental industry with more investors coming forward. Corporate Companies are expected to tie up with 2W rental companies due to the surge in demand, post pandemic. In addition, more focus would be given to solving the urban commute challenges. EVs are likely to hold a relevant share in the total rental fleets in the next 5 years. Leading players are expected to launch their operations in the major Tier 1 & Tier 2 cities.
Key Segments Covered:-
By Market Structure (in Terms of Fleets and GTV)
Organized Market
Unorganized Market
By Type of Organized Market Fleets
Owned Fleets
Leased Fleets
By Major Cities (in terms of Fleets)
Bangalore
Goa
Mumbai
Pune
Jaipur
Delhi NCR
Hyderabad
By Type of Two Wheelers (in terms of Fleets)
Scooters
Motorcycles
E-Bikes
By Type of Bikes
Commuter
Sports
High End Bike
By Purpose (in terms of B2C Bookings)
Commuting
Leisure
By Booking Package (in terms of B2C Bookings)
Hourly
Daily
Weekly
Monthly
By Booking Channel (in terms of B2C Bookings)
Online App/Website
Physical Store
Booking via Call
By Usage (in terms of B2C Bookings)
Intracity Bookings
Intercity Bookings
Companies Covered:-
Bounce
VOGO Rentals
Drivezy
Yulu Bikes
ONN Bikes
RenTrip
Royal Brothers
ZopRent
Boongg
ZipHop
Wheelify
eBikeGo
RidoBiko
Bykemania
Mobycy
GoBikes
Faebikes
Key Target Audience:-
Rental Two Wheeler Players
Two Wheeler OEMs
Consultancy Companies
Industry Associations
Regulatory Bodies
Time Period Captured in the Report:-
Historical Period – 2017-2020
Forecast Period – 2020-2025
Key Topics Covered in the Report:-
India Rental Two Wheeler Market: Market Overview
Rental Two Wheeler Sourcing Methods
Rental Two Wheeler Market Customer Journey
India Rental Two Wheeler Market: Market Size, FY’2017-FY’2020
Market Size Scenario on the Basis of GTV and Fleet Size
India Rental Two Wheeler Market: Market Segmentation, FY’2020
India Rental Two Wheeler Market Growth Drivers
India Rental Two Wheeler Market Trends & Developments
India Rental Two Wheeler Market Challenges
India Rental Two Wheeler Market SWOT Analysis
Competitive Landscape of India Rental Two Wheeler Market
India Rental Two Wheeler Market Cross Comparison
India Rental Two Wheeler Market Pricing Analysis
India Rental Two Wheeler Market Company Profiles
India Rental Two Wheeler Market Customer Behavior Analysis
Future Market Size and Segmentations, 2020-2025F
Covid-19 Impact on India Rental Two Wheeler Market
Analyst Recommendations
For More Information on the research report, refer to below link:
India Rental Two Wheeler Market
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