Market Trends of India Two-wheelers Rental Industry
This section covers the major market trends shaping the India Two-wheelers Rental Market according to our research experts:
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 massive 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 and Bounce provide QR-based dockless rental scooters. This system allows users to unlock and use scooters with the help of smartphone applications. The conventional motorcycle rental local players are providing monthly and weekly rental services to the daily commuters.
Electric scooters have started entering the marketplace slowly in the country. For instance, few Indian startups, such as Zipp and eBikeGo, are providing electric scooter rental services in the selected cities. The penetration of the electric fleet is likely to increase in the rental market during the forecast period.
Increasing Preference of Renting Motorcycles in Tourist Spots
As more than 50% of the population in India is below the age of 25, and more than 65% is below 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 relaxed government regulations make it easy for the riders to travel across the country easily.
The country has some beautiful tropical forests with abundant 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 bikers' paradise for local citizens and foreigners. Motorcycle rental companies organize tours where they provide a bike for a week or more than a week to the participants for touring, along with support vehicles all through the ride. However, on a riding tour, one can participate with their vehicle too.
