India Two-Wheeler Engine Kit Market Assessment, By Vehicle Type [Motorcycle, Scooter, Mopeds], By Distribution Channel [OEMs, Installers, Distributors, Retailers, Others], By Market [Organized, Unorganized], By Region, Opportunities, and Forecast, FY2017-FY2031F

India Two-Wheeler Engine Kit Market is anticipated to reach at USD 6.32 billion in FY2031 at a CAGR of 5.04% for the forecast period between FY2024 and FY2031 and was valued at USD 4.48 billion in FY2023. In India two wheelers are considered as most affordable, cost effective and economic way of transportation. This is reflected in the yearly sales trend as trade of two wheelers is on the higher side as compared to other types of vehicles in India. Additionally, companies are investing in automobile industry and setting manufacturing hub for automotive engine, components and kits that is parallelly driving the India Two-Wheeler Engine Kit Market.

Automobile manufacturers are creating new models with a focus on newer internal combustion engine models with enhanced fuel efficiency which reduces the emission of harmful pollutants into the air. For instance, to improve fuel efficiency, companies are investing in "direct fuel injection" technology in which the direct injection systems spray a fine mist of fuel directly into the cylinder, helping keep the engine's temperature down and increasing fuel efficiency.

Despite a double-digit growth rate, the two-wheeler sales remain low in comparison to what it was pre covid, mainly due to approximately 50% price hike in the entry level segment. As per Society of Indian Automobile Manufacturers, total number of two-wheelers sold in India in FY2023 was recorded at 15.8 million as compared to 13.5 million in FY2022. The export of two wheelers decreased to 3.6 million in FY2023 from 4.4 million in FY2022.

Rapid Urbanization and Increase in Traffic Congestion

During the projected period, the demand for two-wheeler engine kits is anticipated to be influenced by a number of factors, including rapid urbanisation and city traffic congestion. This is a major reason for the need of repair and maintenance of the two-wheeler engine and the requirement of engine kits. As per the Federation of Automobile Dealers Associations (FADA) data, more than 100 thousand two wheelers were sold in September 2022 which is a 9% increase in total volume as compared to the units sold last year during the same period.

Innovative Products Boosting Market Growth

Companies are engaging in value chain of the engine components adopting lightweight materials to manufacture camshafts, valve-train components, engine kit. The reduced weight of engine decreases the power requirements for two-wheeler vehicle operation, thereby saving fuel. Furthermore, emergence of 3D printing technology has improved the designing of engine components specially engine kit, which in turn is estimated to propel market expansion during the forecast period.

Impact of COVID-19 on India Two-Wheeler Engine Kit Market

The COVID-19 caused a production standstill that hampered the two-wheeler engine kit market in India. The two-wheeler engine kit sector has been set by a mix of supply and demand concerns because of the lockdown in nation. Due to a limited access of port infrastructure and restriction on allowed number of workers, many two-wheeler engine kit manufacturing companies were unable to finish their export shipments. 

As the pandemic seems to have subsided, Indian economy can be seen in the recovery phase as there is a significant growth in supply & value chain network, upward trend in the demand curve and import & trade in automobile and specifically service industry where two wheelers are heavily used.

Report Scope

“India Two-Wheeler Engine Kit Market Overview, FY2017-FY2031F,” is a comprehensive report by Markets and Data, providing in-depth analysis and assessment of the market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities and forecast between FY2024 and FY2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute	Details
Base Year for Analysis	FY2023
Historical Period	FY2017-FY2022
Forecast Period	FY2024-FY2031
Market Size in FY2023	USD 4.48 Billion
Projected Growth Rate	CAGR of 5.04% from FY2024-FY2031
Revenue Forecast in FY2031	USD 6.32 Billion
Units	Revenue in USD Billion and Volume in Thousand Units
Segments Covered	Vehicle Type, Market, Distribution Channel
Regions Covered	East, West, Central, North, South
Key Companies Profiled	Shriram Pistons & Rings Ltd., Hero MotoCorp Ltd., Honda Motorcycle & Scooter India Pvt. Ltd., Bajaj Auto Limited, Yamaha Motor Company Limited, TVS Motor Company, Piaggio & C. SpA, Suzuki Motor Corporation, Caterpillar Inc., Targetone Innovations Pvt. Ltd. (GoMechanics)
Customization Scope	15% free report customization with purchase.
Pricing and Purchase Options	Avail the customized purchase options to fulfil your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

 

In this report, India Two-Wheeler Engine Kit Market has been segmented into following categories:

1.                   By Vehicle Type

1.1   Motorcycle

1.2   Scooter

1.3   Mopeds

2         By Distribution Channel

2.1   OEMs

2.2   Installers

2.3   Distributors

2.4   Retailers             

2.5   Others

3         By Market

3.1   Organised

3.2   Unorganised

4         By Region

4.1   East

4.2   West and Central

4.3   North

4.4   South

Key Player Landscape and Outlook 

Over the past few years, prominent companies such as Hero MotoCorp Ltd. and Bajaj Auto Limited have entered the adventure motorcycle market in response to the increasing appeal of these bikes among Indian youths for various purposes. The adventure motorcycle segment in India has experienced remarkable growth due to the growing demand for versatile motorcycles capable of conquering diverse riding conditions. These motorcycles are specifically designed to excel in both on-road and off-road environments, providing users with versatility, performance, and the capability to handle different terrains.

Consequently, there has been a surge in demand for adventure motorcycle engines that offer an optimal power-to-weight ratio and impressive performance characteristics, prompting manufacturers to introduce engine kits such as Cylinder kits and Spark Plugs designed specifically for these two-wheelers. For example, in 2021, Hero MotoCorp Ltd. unveiled the Hero MotoSports XPulse Rally 200 with a 4-Valve engine specially developed for rally competitions in Goa. This engine is 20% lighter than its predecessor, leading to the separate launch of engine kits tailored for these adventure motorcycle engines.

Players Operating in India Two-Wheeler Engine Kit Market

·         Shriram Pistons & Rings Ltd.

·         Hero MotoCorp Ltd.

·         Honda Motorcycle & Scooter India Pvt. Ltd.

·         Bajaj Auto Limited

·         Yamaha Motor Company Limited

·         TVS Motor Company

·         Piaggio & C. SpA

·         Suzuki Motor Corporation

·         Caterpillar Inc.

·         Targetone Innovations Pvt. Ltd. (GoMechanics)

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