Indian Bikes Industry
Bikes or two wheelers in India cater to various needs of the consumers. With the choice of the Indians improving from bicycles to two wheelers, the Indian two-wheeler market has seen a significant growth over the years. Now owing a bike has become a must for most Indians. Even if people own a car they prefer to have a bike as it is very economical and fuel efficient.
With the growth in the economy the demand for two wheelers is increasing over the years. It is one of the most dynamic industries today and with the increasing competition companies are bringing in new products with sophisticated technologies and innovative features to capture a major pie of the Indian market and it’s the consumer who is benefited from it..
With the availability of reduced consumer loans and high disposable income the Indian two-wheeler industry has perceived an exceptional growth over the past few years thereby making India the second largest market for two wheelers in the world only after China.
The motorcycle has now become one most popular mode of transportation among the Indian middle class families because of it is cost effective, economical and easy to navigate through the traffic. Moreover, the people have started preferring bikes instead of scooters and mopeds and today bikes form a major part of the Indian two wheelers.
Indian companies are one of the largest two wheeler manufacturers in the world. The number one bike manufacturer in the world, Hero Honda is in close competition with the Indian manufacturer Bajaj India.
The motorcycle industry in India has witnessed a tremendous change in the 90’s with the invention of 4 stroke engine which makes the bikes more fuel efficient. Further companies are trying to bring in more innovations to make the motorcycle ride more comfortable, safe and user friendly and economical.
In a nut shell the followings factors can be distinguished for the growth of motorcycle industry in India:
Easy accessibility to cheap consumer loans
The increase in the average income of the family.
The reduction in duties and taxes.
Convenience with regards to commuting as compared to the public transport system.
Continuous innovations in technology making the bikes economic and fuel-efficient.
The first choice among youths and teenagers.