In the financial year 2024, Hero MotoCorp was the leading two-wheeler manufacturer in India, with a market share of ***percent. The volume of two-wheelers sold across India during the same period almost reached **** million units, which was an increase from the previous year’s ***million units. Two-wheel vehicles industry in India Two-wheel vehicles are divided into three subcategories in India, namely, motorcycles, scooters, and mopeds. They had made up the majority of motor vehicles produced in India, far exceeding passenger vehicles. As the leading manufacturer in India, Hero MotoCorp was also the world’s largest manufacturer of two-wheel vehicles. Meanwhile, the leading foreign manufacturers were exclusively Japanese companies. It was mostly because in the *****, when the Indian government lessened the restrictions on foreign investments, Japanese companies formed joint ventures with Indian companies to produce two-wheel vehicles for the local market. Even after the termination of most of these joint ventures in the ***** and *****, Japanese manufacturers maintained their presence in India.  Two-wheel vehicles market in India Currently, the new growth point for the industry is electric scooters and motorcycles. Many of the leading manufacturers have already started the production of electric vehicles. The Indian government has set a goal to electrify a major part of India’s two-wheelers and has provided considerable financial incentives. However, because of the impact of the COVID-19 pandemic on the sales of automobiles in India, the electrification target might be delayed. More investment in the electricity infrastructure, especially the renewable energy sector, could potentially accelerate the process.

The India Premium Motorcycles market was valued at USD 1.3 billion in 2024 and is projected to reach approximately USD 2.5 billion by 2030, expanding at a CAGR of 12.5%.

Pages	80
Market Size	2024: USD 1.3 billion
Forecast Market Size	2030: USD 2.5 billion
CAGR	2025-2030: 12.5%
Fastest Growing Segment	Electric
Largest Market	North India
Key Players	1. Hero MotoCorp Limited 2. Eicher Motors Limited 3. TVS Motor Company Limited 4. Bajaj Auto Limited 5. Honda Motorcycle & Scooter India Pvt. Ltd. 6. Yamaha Motor India Pvt. Ltd. 7. Suzuki Motorcycle India Pvt. Ltd. 8. Kawasaki Motors Pvt. Ltd. 9. BMW Motorrad India 10. Triumph Motorcycles India Pvt. Ltd.

The India Two Wheeler Market is Segmented by Propulsion Type (Hybrid and Electric Vehicles, ICE). The Report Offers Market Size in Both Market Value in USD and Market Volume in Unit. Further, The Report Includes A Market Split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

As of December 2024, Honda held the largest share of the U.S. motorcycle market, marginally outpacing Wisconsin-based Harley-Davidson, which reached a market share of around **** percent of the motorcycle market in the United States. Asian motorcycle brands dominate the market The leading Asian motorcycle brands made up nearly **** of the U.S. motorcycle market in 2024. Honda, alone, accounted for a ***** of the market, while Yamaha, Kawasaki, and Suzuki constituted the remaining ** percent. The U.S. is an important market globally for these brands, with annual revenue in the sector amounting to nearly ***** billion U.S. dollars. However, the U.S. no longer among the **** largest motorcycle markets globally, as it had before 2021. Instead, Asian countries, including India and China, and Brazil now lead the global market. U.S. motorcycle manufacturer market share Harley-Davidson is the close second in motorcycle sales in the United States. The name alone conjures up the stinging scent of burnt gasoline and the roaring sound of bulky chrome and steel bikes glinting in the sun. Harley-Davidson was founded over 100 years ago in Milwaukee, Wisconsin by William S. Harley, as well as Arthur, Walter and William A. Davidson. The company has established itself as one of the key brands on the global as well as the domestic U.S. motorcycle market.

The Indian electric scooters and motorcycles market will stand at an estimated USD 681.3 million in 2024, advancing at a CAGR of 66.4% during 2024-2030.

The Indian two-wheeler market, valued at approximately ₹1.5 trillion (USD 18 billion) in 2025, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 4% through 2033. This expansion is fueled by several key factors. Firstly, rising disposable incomes and increasing urbanization are driving demand, particularly among younger demographics. Secondly, the government's push for electric mobility, supported by incentives and infrastructure development, is significantly impacting the market, with a notable surge in electric two-wheeler sales. Technological advancements leading to improved fuel efficiency and enhanced features in ICE (Internal Combustion Engine) vehicles also contribute to the market's growth. However, challenges remain, including fluctuating fuel prices, concerns about charging infrastructure for EVs, and the overall economic climate. The market is segmented into ICE and Electric/Hybrid vehicles, with ICE still dominating but the EV segment exhibiting substantial growth potential. Key players such as Hero MotoCorp, Bajaj Auto, TVS Motor Company, and emerging EV companies like Ola Electric and Ather Energy are actively shaping the market landscape through aggressive product launches and strategic partnerships. The competitive landscape is intense, with both established manufacturers and new entrants vying for market share. Companies are focusing on innovation, offering diverse models catering to various consumer needs and preferences, from economical commuter bikes to premium performance motorcycles. The regional distribution of the market varies, with significant demand concentrated in urban and semi-urban areas. While the forecast suggests continued growth, potential restraints include supply chain disruptions, raw material price volatility, and regulatory changes impacting the automotive sector. However, the long-term outlook remains positive, driven by India's expanding middle class and the ongoing transition towards sustainable transportation. This dynamic market offers significant opportunities for established players and new entrants alike, provided they effectively navigate the challenges and capitalize on emerging trends. This in-depth report provides a comprehensive analysis of the India two-wheeler market, encompassing historical data (2019-2024), current estimations (2025), and future forecasts (2025-2033). The study delves into market dynamics, competitive landscapes, and emerging trends, offering invaluable insights for stakeholders across the electric two-wheeler market, ICE two-wheeler market, and the broader two wheeler industry in India. The base year for this analysis is 2025, with a focus on understanding the market's trajectory in the coming decade. This report is crucial for businesses involved in two wheeler manufacturing, two wheeler sales, and two wheeler financing in India. Recent developments include: August 2023: Ola Electric launched S1X for INR 79,999. Ola S1X will be offered in two battery capacities 2-kWh and 3-kWh. The 2-kWh variant will have a range of 91 km while the 3-kWh will have a 151 km range. The scooter has a 3.5-inch segmented display, the physical key unlocks and comes Without smart connectivity.August 2023: Mahindra & Mahindra Ltd. announced that its board of directors approved the scheme of merger by absorption of Mahindra Heavy Engines Limited (MHEL) and Mahindra Two Wheelers Limited (MTWL) and Trringo.com Limited (TCL), wholly owned subsidiaries of the company, with the company and their respective shareholders.July 2023: Okinawa Autotech launched the new and advanced version of its ‘OKHI-90' electric scooter with an AIS-156 amendment 3 compliant battery pack, next-gen motor, and improved technology features.. Key drivers for this market are: Used Car Financing To Continue Solving Consumer Challenges In Indonesia. Potential restraints include: Trust And Transparency In Used Car Remained A Key Challenge For Consumers. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

India Electric Scooter and Motorcycle Market is projected to register strong growth due to the government initiatives to adopt electric vehicle in India.

The global two-wheeler motorcycle market is experiencing robust growth, driven by increasing urbanization, rising disposable incomes in emerging economies, and a preference for fuel-efficient transportation. This market, estimated at $150 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This significant growth is fueled by several key trends, including the increasing popularity of electric motorcycles, the development of advanced safety features, and the growing demand for comfortable and stylish models. Leading manufacturers such as Honda, Yamaha, Hero MotoCorp, and Bajaj Auto are constantly innovating to meet evolving consumer preferences, further driving market expansion. However, the market faces challenges including stringent emission regulations and fluctuating raw material prices, potentially impacting production costs and profitability. Despite these restraints, the long-term outlook for the two-wheeler motorcycle market remains positive, with substantial growth opportunities across various segments. The market segmentation reveals diverse opportunities across various vehicle types (scooters, motorcycles, mopeds), engine capacities (ranging from smaller commuter bikes to high-performance models), and geographic regions. Asia, particularly India and Southeast Asia, remains a dominant market due to its large population base and increasing vehicle ownership. While established players hold significant market share, new entrants, particularly in the electric motorcycle segment, are increasingly challenging the status quo. Furthermore, the growing emphasis on sustainable transportation is pushing manufacturers to invest heavily in research and development of electric and hybrid models, creating new avenues for growth and innovation within the industry. Understanding these market dynamics is crucial for manufacturers seeking to capitalize on the substantial opportunities presented by this burgeoning sector.

The Indian motorcycle and scooter market rose modestly to $26.1B in 2024, growing by 3.5% against the previous year. Over the period under review, consumption recorded a resilient expansion. Motorcycle and scooter consumption peaked at $26.2B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

India Two-Wheeler Market size was valued at USD 299.43 Billion in 2024 and is expected to reach USD 459.47 Billion by 2032, growing at a CAGR of 5.50% from 2026 to 2032.

India Two-Wheeler Market: Definition/ Overview

Two-wheelers are motorized vehicles with two wheels, including motorcycles, scooters, and mopeds, which are designed for personal and commercial transportation. These vehicles are widely utilized for daily commuting, last-mile connectivity, and delivery services, as they offer affordability, fuel efficiency, and ease of navigation through congested urban areas.

The global off-road motorcycle market size is anticipated to reach USD 17,078.7 million in 2024. It is estimated to rise at a CAGR of 6.1% during the assessment period to reach the value of USD 30,875.1 million by 2034.

Attributes	Description
Estimated Global Off-road Motorcycle Market Size (2024E)	USD 17,078.7 million
Projected Global Off-road Motorcycle Market Value (2034F)	USD 30,875.1 million
Value-based CAGR (2024 to 2034)	6.1%

Semi-annual Update on Off-road Motorcycle Market

Particular	Value CAGR
H1	5.5% (2023 to 2033)
H2	6.2% (2023 to 2033)
H1	5.8% (2024 to 2034)
H2	6.4% (2024 to 2034)

Analysis of Top Countries Producing, Using, and Distributing Off-road Motorcycle Market

Countries	CAGR 2024 to 2034
India	6.4%
France	6%
Spain	5.8%
Italy	5.6%
Canada	5.6%

Off-road Motorcycle Market Industry Analysis by Key Categories

Segment	Enduro bikes (Type)
Value Share (2024)	35%

Segment	251 to 500 CC (Engine Capacity)
Value Share (2024)	35%

The India two-wheeler market size reached 24.9 Million Units in 2024. Looking forward, IMARC Group expects the market to reach 92.0 Million Units by 2033, exhibiting a growth rate (CAGR) of 15.64% during 2025-2033. The growing spending power of the middle-classed, the rising need for practical commuting options due to fast urbanization, and increasing accessibility of affordable funding choices, represents some of the key factors impelling the market growth.

Ola Electric dominated the electric two-wheeler market in India, with a share of ** percent in financial year 2023. This was followed by Okinawa and Hero, having a share of ** percent and ** percent, respectively.

The global motorcycle market, valued at $82.08 billion in 2025, is poised for significant growth. While the exact CAGR isn't provided, considering the robust growth in emerging economies and the increasing popularity of electric motorcycles, a conservative estimate of 5% CAGR over the forecast period (2025-2033) seems reasonable. This would project the market to surpass $120 billion by 2033. Key drivers include rising disposable incomes in developing nations, increasing urbanization leading to greater commuting needs, and the growing appeal of motorcycles as a cost-effective and efficient mode of transportation. Furthermore, advancements in electric motorcycle technology, including longer battery life and improved performance, are fueling market expansion. However, stricter emission regulations in certain regions and the fluctuating prices of raw materials, particularly for fuel-based motorcycles, present challenges to consistent growth. The market is segmented by application (personal and commercial) and type (fuel and electric), with the electric segment exhibiting the fastest growth trajectory due to environmental concerns and government incentives. The Asia Pacific region, particularly India and China, holds the largest market share due to high motorcycle production and consumption. Competition is fierce among major players like Honda, Yamaha, Hero MotoCorp, and emerging electric motorcycle manufacturers, leading to innovation in design, technology, and affordability. The market's future trajectory will be largely determined by the successful integration of electric motorcycle technology, governmental policies supporting sustainable transportation, and the overall economic growth in key markets. The continuous development of advanced features like connected technology and enhanced safety systems in both fuel and electric motorcycles will also play a crucial role in shaping consumer preferences and driving market expansion. Despite potential headwinds such as economic downturns and supply chain disruptions, the overall outlook for the motorcycle market remains optimistic due to its inherent adaptability and the enduring appeal of two-wheeled transportation.

Custom Motorcycles Market Outlook

The global custom motorcycles market size was valued at approximately USD 13.5 billion in 2023 and is projected to reach around USD 22.8 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period. The market growth is driven by increasing consumer preference for personalized vehicles and a rising disposable income that facilitates such lifestyle choices.

One of the significant growth factors in the custom motorcycles market is the rising interest in unique, personalized vehicles. Consumers are increasingly looking for ways to express their individuality, and custom motorcycles offer a unique platform for this personal expression. Custom bike builders often work closely with clients to create one-of-a-kind vehicles that reflect the owners' personalities and tastes, from aesthetic modifications to performance enhancements. This trend is particularly strong among millennials and younger consumers who place high value on individuality and customization.

Another critical driver is the increasing disposable income levels, particularly in emerging economies. As societies become more affluent, discretionary spending on luxury and lifestyle products, such as custom motorcycles, tends to increase. The growth in disposable income allows consumers to invest in high-end, bespoke motorcycles that offer not just a mode of transportation but a lifestyle statement. Additionally, the expanding middle class in countries like China and India is contributing to the demand for custom motorcycles, further boosting the market.

The influence of social media and reality television shows featuring custom motorcycle builds cannot be underestimated. Programs that showcase the creative process behind building custom motorcycles have captured the imagination of a broad audience, inspiring many to invest in their custom bikes. Social media platforms like Instagram and YouTube have also played a pivotal role in popularizing custom motorcycles, providing builders and owners with a platform to showcase their creations to a global audience. This has created a community of enthusiasts and potential buyers who are willing to spend on custom motorcycles.

Regionally, North America currently dominates the custom motorcycles market, thanks to a well-established culture of motorcycle customization and a strong presence of renowned custom bike builders. However, Asia Pacific is expected to witness the highest growth rate during the forecast period. The increasing number of affluent consumers and expanding motorcycle markets in countries such as India and China are significant contributors to this growth. Europe also presents substantial opportunities, with countries like Germany and Italy having a rich history and culture of motorcycle customization.

Product Type Analysis

The custom motorcycles market can be segmented by product type into Chopper, Bobber, Café Racer, Tracker, Scrambler, and Others. Each of these segments offers unique features and caters to different consumer preferences. Choppers, known for their long forks and extended frames, are perhaps the most iconic type of custom motorcycle. They often feature exaggerated designs and are built for show rather than speed. The demand for choppers remains strong due to their distinctive appearance and the cultural significance attached to them, particularly in North America.

Bobbers, another popular type, are known for their minimalist design and "bobbed" or shortened fenders. These motorcycles are favored for their lightweight and stripped-down aesthetics, making them a popular choice among enthusiasts who prefer a more raw and authentic riding experience. The Bobber segment is growing as more consumers seek motorcycles that offer both style and performance without unnecessary frills. Customization in this segment often focuses on enhancing performance and achieving a vintage look.

Café Racers, designed for speed and handling, appeal to a different set of consumers who prioritize performance and agility. These motorcycles are inspired by the racing bikes of the 1960s and are characterized by their low handlebars and elongated fuel tanks. The café racer segment is thriving, particularly in Europe, where there's a growing trend towards retro and vintage motorcycle styles. Customization in this segment often involves upgrading the engine and suspension to improve performance.

Trackers and Scramblers are designed for off-road and mixed terrain use. Trackers often feature flat

The Indian motorcycle, scooter and side-car market was estimated at $26.1B in 2024, increasing by 3.5% against the previous year. In general, consumption showed a resilient expansion. Over the period under review, the market attained the maximum level at $26.2B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

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Low-Powered Electric Motorcycle And Scooter Market Size 2024-2028

The low-powered electric motorcycle and scooter market size is forecast to increase by USD 23.74 billion, at a CAGR of 17.96% between 2023 and 2028. Government incentives and regulations that promote use of EVs will drive the low-powered electric motorcycle and scooter market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 86% growth during the forecast period.
By the Vehicle Type, the Electric scooters sub-segment was valued at USD 9.12 billion in 2022
By the Battery Type, the Lithium-ion battery sub-segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 299.04 billion
Future Opportunities: USD 23.74 billion 
CAGR : 17.96%
APAC: Largest market in 2022

Market Summary

The market is poised for significant growth during the forecast period, driven by government incentives and regulations that promote the use of electric vehicles (EVs) and advances in battery technology. Despite the limited range of these vehicles, they offer an attractive alternative to traditional gasoline-powered motorcycles and scooters. Key technologies and applications, such as regenerative braking and lithium-ion batteries, are driving innovation in this market. Core service types or product categories include two-wheel electric vehicles with power outputs below 15 kW. Some of the key companies in this market include Honda, Yamaha, and Suzuki, among others.
Regulations, such as emissions standards and incentives for EV adoption, are shaping the market landscape. For instance, in Europe, the CO2 emissions standards for motorcycles are set to become stricter, pushing manufacturers to produce more electric models. In Asia, governments are offering subsidies for the purchase of electric two-wheelers to reduce traffic congestion and improve air quality. The market for low-powered electric motorcycles and scooters is evolving rapidly, presenting both opportunities and challenges. According to a recent study, the global electric two-wheeler market is projected to reach USD 50.7 billion by 2027, growing at a CAGR of 11.2% during the forecast period.
Related markets such as the electric bicycle and e-rickshaw markets are also experiencing similar growth trends. 

What will be the Size of the Low-Powered Electric Motorcycle And Scooter Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Low-Powered Electric Motorcycle And Scooter Market Segmented and what are the key trends of market segmentation?

The low-powered electric motorcycle and scooter industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Vehicle Type

  Electric scooters
  Electric motorcycles


Battery Type

  Lithium-ion battery
  Lead acid battery
  Other batteries


Geography

  North America

    US


  Europe

    Spain


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Vehicle Type Insights

The electric scooters segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth, driven by the increasing demand for eco-friendly and cost-effective urban mobility solutions. Electric motorcycles and scooters account for a substantial market share due to their compact designs, lightweight chassis, and zero-emission operation. Motor efficiency optimization and battery cell technology advancements have led to extended ranges, mitigating range anxiety for consumers. Electric motor controllers, software-defined vehicles, and connectivity features enhance the user experience, while battery life extension and supply chain optimization improve overall market efficiency. Torque sensor technology and powertrain efficiency improvements enable better performance and responsiveness. Manufacturing processes have evolved to accommodate the production of electric motorcycles and scooters, making them increasingly accessible.

Lightweight chassis designs, urban mobility solutions, ride-sharing integration, and lighting systems integration further expand the market's appeal. Environmental impact assessments and motorcycle safety standards ensure the industry's sustainability and safety. Brushless DC motors, speed sensor technology, and throttle control systems provide improved power and control. Lithium-ion battery packs and regenerative braking systems contribute to the market's growth, with a focus on reducing energy consumption metrics. Display unit technology and over-the-air updates offer advanced features and convenience. ABS braking systems and electric scooter regulations ensure safety and compliance. According to rece

The global on-road motorcycle market, a dynamic sector driven by factors such as rising disposable incomes in emerging economies, increasing urbanization leading to a greater demand for personal transportation, and a growing preference for fuel-efficient vehicles, is poised for significant growth. The market's size in 2025 is estimated to be around $150 billion USD, reflecting a substantial increase from previous years. A Compound Annual Growth Rate (CAGR) of 5% is projected for the forecast period (2025-2033), indicating a consistent expansion of the market. This growth is fueled by the introduction of technologically advanced motorcycles, including electric models and those with improved safety features. Key players like Harley-Davidson, Yamaha, Ducati, Honda, Kawasaki, BMW, Suzuki, Hero MotoCorp, Bajaj Auto, and TVS Motor Company are driving innovation and competition, shaping the market landscape. However, the market faces challenges such as stringent emission regulations in several regions and the rising costs of raw materials which may act as restraints on growth. Market segmentation plays a crucial role in understanding this diverse landscape. While precise segment breakdowns aren't provided, we can infer significant contributions from segments such as sport bikes, cruisers, scooters, and adventure touring motorcycles. Regional variations are expected, with Asia-Pacific likely holding the largest market share due to the high motorcycle penetration rate in countries like India and China. North America and Europe are also substantial markets, but with a focus on higher-priced, premium models. The ongoing trend of electric motorcycle adoption will significantly impact the market, though the internal combustion engine is likely to maintain dominance in the near term. The overall outlook for the on-road motorcycle market remains positive, with sustained growth projected throughout the forecast period, driven by a combination of favorable economic conditions and technological advancements.

The global motorcycles, scooters, and mopeds market, valued at $58.85 billion in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 1.2% from 2025 to 2033. This relatively modest CAGR reflects a mature market, though growth is expected to be driven by several factors. Increasing urbanization in developing economies, particularly in Asia-Pacific, fuels demand for affordable and efficient personal transportation. The rising popularity of electric two-wheelers, driven by environmental concerns and government incentives, is also contributing to market expansion, although the transition is gradual. Furthermore, evolving consumer preferences toward stylish and technologically advanced models, featuring enhanced safety features and connectivity options, are influencing purchase decisions. However, economic fluctuations, stringent emission regulations impacting manufacturing costs, and the increasing availability of alternative transportation options, such as ride-sharing services, pose challenges to sustained market growth. Competitive pressures from established manufacturers like Honda, Hero MotoCorp, and Bajaj Auto, alongside emerging players, continue to shape market dynamics. The market segmentation by engine capacity reveals significant variations in growth potential. Segments such as below 100cc and 101-125cc, catering to budget-conscious consumers, are expected to maintain relatively robust growth. Conversely, higher engine capacity segments might see slower growth due to higher prices and the increasing preference for fuel-efficient vehicles. Regional variations are also anticipated, with Asia-Pacific, specifically India and China, retaining significant market dominance due to large populations and robust domestic manufacturing. However, growth in regions like North America and Europe may be driven by premium models and the increasing adoption of electric variants. Understanding these nuanced market dynamics, encompassing both established players and emerging trends, is crucial for effective strategic planning within the industry.

The Asia Pacific Electric Two-Wheeler Market is segmented by Propulsion Type (Hybrid and Electric Vehicles) and by Country (China, India, Japan, South Korea). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.