India Two-Wheeler Aftermarket Services Analysis & Forecasts, 2017-2022 & 2022-2027: Focus on Engine Components, Suspension/Braking, Transmission, Electronics, Body and Chassis, & Cooling System

DUBLIN, Sept. 29, 2022 /PRNewswire/ -- The "India Two-Wheeler Aftermarket Services Industry Outlook to 2027" report has been added to's offering.

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India two-wheeler spare parts aftermarket industry expanded at a CAGR of 9.5% in between FY'17 and FY'22. The rise in duty on specific items such as engine and transmission parts amongst others from 7.5-10% to 15% since FY'19 contributed in boosting business potential for domestic manufacturing units. 

India Two-Wheeler Aftermarket Services Industry is driven by growing sales of two-wheelers and shifting consumer preference towards availing private transportation medium.

Overview of India Two-Wheeler Spare Parts Aftermarket Industry

Further, enforcement of strict regulatory standards such as enforcement of BS-VI norms since FY'20 is positively contributed to the growth of spare parts industry as there exist a need for advanced two-wheeler parts necessary to abide by the emission standards.

Coupled with this, several government initiative such as NATRIP acted as a catalyst for the growth of two-wheeler spare parts industry in India, which aims to generate core global competencies, providing low cost product development solutions to manufacturers, and enables seamless integration of automobile component industry in India to be at par with global standards.

In coming years, demand for two-wheeler spare parts in India to be driven by the components required for electric two-wheeler vehicle as the growth of two-wheeler EVs is estimated to expand at a CAGR of 84% in between FY'21 and FY'26 on the basis of sales volume.

With the integration of EVs, the carburettor for two-wheelers will be replaced with more efficient fuel injection system to improve productivity, which would positively impact the spare parts industry in India. Major players in the ecosystem are Uno Minda, Spark Minda, Exide Batteries and Apollo Tyres among others.

Classification by Different Type of Spare Parts (Engine Components, Suspension/Braking, Transmission, Electronics, Body & Chassis and Others): Revenue generated through sale of engine components accounted for the highest share in FY'22 followed by suspension/braking and transmission. This is attributed to consumers availing two-wheelers for long distance travel which requires constant servicing of engine parts as well as braking system as compared to body/chassis or electronics.

Competitive Landscape in India Two-Wheeler Aftermarket Services Industry

India's two-wheeler aftermarket services industry is highly fragmented with presence of large number of OEMs, organized and unorganized multi-brand dealers across the country. OEM workshops enjoy moderate to high power in the initial years as 70% of service fee for newer two-wheelers are covered under warranty.

However, post the warranty period of two-wheelers OEMs and organized multi-brand workshops face stiff completion from local garages due to the ease of access coupled with lower service fee charged. It is estimated that 80% of two-wheelers are serviced at local garages post the warranty period as of FY'22.

These players compete on the basis of service quality, service time, service fee, digital presence and number of outlets. Followed by the advent of COVID-19, players in the ecosystem mainly organized multi-brand dealers such as Hoopy and Garage Works are enhancing their digital presence across platforms to expand their customer base as consumers are prone to avail online medium for booking and choosing a platform that best suits their interest.

The average ticket size for servicing a two-wheeler at OEM workshops post warranty period tend to be higher compared to organized multi-brand workshop offering doorstep service facility.

India Two-Wheeler Aftermarket Services Industry Future Outlook and Projections

The market size on the basis of revenue is expected to grow at a five-year CAGR of ~7.7% in between FY'22 and FY'27E. The market size on the basis of number of vehicles serviced is expected to grow at a five-year CAGR of ~4.8% from FY'22 to FY'27.

It is anticipated that surging two-wheeler sales coupled with shifting consumer preference towards availing private medium of transportation followed by the advent of COVID-19 will contribute in the growth of two-wheeler aftermarket services industry. The advent of EVs will cause disruptions for incumbent companies in coming years, as it is creating big opportunities for smaller players, and foreign brands to integrate the ecosystem.

Two-wheeler aftermarket services industry would also witness strategic shift from technologies used to service fuel operated vehicles to electric vehicles along with enhancing the skill set of mechanics to service electric two-wheelers.

India Two-Wheeler Aftermarket Services Industry Market Overview and Size

India two-wheeler aftermarket services industry expanded with a CAGR of ~7.9% in between FY'17 and FY'22 on the basis of revenue generated. While the sales of two-wheeler contracted at a CAGR of ~5.2% in between FY'17 and FY'22 due to hike in fuel prices and negative impact of COVID imposed lockdown, aftermarket industry on the other hand recorded a 6.9% expansion in between FY'17 and FY'22 on the basis of units of vehicle serviced.

The expansion is attributed to the online multi-brand players such as Hoopy and GarageWorks extending doorstep aftermarket services even during nationwide lockdown. Increased awareness on health and hygiene brought about by the advent of COVID-19 is a major determinant for the shift in consumer's preference in availing private transportation medium rather than utilizing public transport.

The shifting preference and integration of electric two-wheeler vehicles in the industry coupled with surging per capita disposable income, served as major catalysts for the growth in two-wheeler aftermarket services industry. Enhancement of digital presence has become one of the major determinant for expanding the customer base of organized multi-brand and OEM players followed by the aftermath of COVID-19.

Doorstep services model offered by organized multi-brand dealers such as Hoopy and Garage Works gained traction among consumers during this period. Local garages were negatively impacted due to COVID-19 as capital of these players were wiped off permanently attributed to the closure of business during pandemic.

As a result of which various daily wage workers from local garages have migrated back to their natives thereby, reducing the accessibility of local garages in comparison to the pre-pandemic time period. This has positively affected the scope for organized multi-brand players looking to enter the space.

Key Segments Covered in India Two-Wheeler Aftermarket Services Industry

By Type of Vehicle

  • Motorcycles

  • Scooters

By Age of Two-Wheeler

  • 0-2 years

  • 2-4 years

  • 4-6 years

  • 6-8 years

  • More than 8 years

By Region

  • North

  • South

  • East

  • West

By Service Split

  • Non-Crash Repair

  • Crash Repair

  • Body Care

By Type of Workshop

  • Organized & Unorganized Multi-Brand

  • OEM

By Type of Multi-Brand

  • Organized Outlet

  • Unorganized Outlet

By Brand

  • Hero MotoCorp

  • Honda

  • TVS

  • Bajaj Auto

  • Suzuki

  • Others

By Electric Two-Wheeler Brand

  • Hero Electric

  • Okinawa

  • Ather

  • Ampere

  • Pure EV

  • Others

By Type of Split for Aftermarket Spare Parts and Consumables

  • Spare Parts

  • Consumables

By Expenditure Category

  • Services

  • Spare Parts

  • Consumables

By Booking Mode

  • Online

  • Offline

  • Consumables

Classification by Spare Parts Type

  • Engine Components

  • Suspension/Braking

  • Transmission

  • Electronics

  • Body and Chassis

  • Cooling System

  • Others

Key Target Audience

  • Two-Wheeler Organized Multi-Brand Aftermarket Servicing Companies

  • Two-Wheeler OEMs

  • Spare Parts' Manufacturers

  • Industry Associations

  • Government Bodies

Time Period Captured in the Report:

  • Historical Period: FY'17-FY'22

  • Forecast Period: FY'22-FY'27F

India Two-Wheeler Aftermarket Servicing Players OEMs

  • Hero MotoCorp

  • Bajaj Auto

  • Suzuki

  • TVS Motor Company

  • Royal Enfield

  • Yamaha

  • Piaggio

  • Kawasaki

  • Ampere

  • Pure EV

  • Ather

  • Okinawa

  • Revolt

  • Hero Electric

Organized Multi-Brand Aftermarket Servicing Companies

  • Hoopy

  • Garage Works

  • Mechido

  • RazorCat

  • Gobumpr

  • Garage Uncle

  • Garage 2 Ghar

  • Bike Fixup

  • Spot Mech

  • Garage On Call

  • Ready Assist

  • Bike Mechanic

  • Protto

  • Groomauto

Spare Parts' Manufacturers

  • Uno Minda

  • Spark Minda

  • Gabriel

  • Bosch India

  • Amtek

  • Sundaram Fastners

  • Exide

  • Nifco

  • Apollo Tyres

  • Ceat

  • Bharat Forge

  • Amara Raja

  • Motherson Sumi Systems

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