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India Two-Wheelers Rental Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 5025560
  • Report
  • May 2020
  • Region: India
  • 55 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Bounce
  • Drivezy
  • Fae Bikes
  • ONN Bikes Rental
  • VOGO
  • Wheelstreet
  • MORE
The Indian two-wheeler rental market is anticipated to register a CAGR of about 7 % during the forecast period (2020 – 2025).

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 of the two-wheeler rental during the forecast 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 requirements of the customers 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 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 huge 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, 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 forecast period.

India Witnessing Faster Growth Rate in the Market

As more than 50% of the population in India is below the age of 25 and more than 65% is below the age of 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 easy government regulations make it easy for the riders to easily tour across the country. The country has some beautiful tropical forests with rich 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 as well as for the foreign riders. Motorcycles rentals companies organize tours where they provide a bike for a week or more than a week to the participants for touring along with the support vehicles all through their ride, although riding tour can participate on own 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, cheap and easily available manpower. 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 raising funds from investors, increasing their fleet, tapping in new and unexplored cities. For instance,
  • In 2019, Bounce raised close to USD 72 million funding as a part of its Series C round by a number of investors.
Reasons to Purchase this report:
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FEATURED COMPANIES

  • Bounce
  • Drivezy
  • Fae Bikes
  • ONN Bikes Rental
  • VOGO
  • Wheelstreet
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Two-wheeler Type
5.1.1 Motorcycle
5.1.2 Scooter
5.2 By Rental Duration Type
5.2.1 Short term
5.2.2 Long Term
5.3 By Application Type
5.3.1 Touring
5.3.2 Commuting

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Fae Bikes
6.2.2 VOGO
6.2.3 Bounce
6.2.4 Wheelstreet
6.2.5 Wickedride Adventure Services
6.2.6 ONN Bikes Rental
6.2.7 Yulu
6.2.8 Drivezy

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Fae Bikes
  • VOGO
  • Bounce
  • Wheelstreet
  • Wickedride Adventure Services
  • ONN Bikes Rental
  • Yulu
  • Drivezy
Note: Product cover images may vary from those shown
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