Rising two wheeler sales coupled with easy availability of financing options to boost Two Wheeler Loan Market.
According to TechSci Research report, “India Two Wheeler Loan Market By Type, By Source, By Percentage of Amount Sanctioned, By Type of City, By Tenure, Competition, Forecast & Opportunities, 2025”, in 2018, India registered sales of over 26 million two wheelers, making it the world’s largest two wheeler market. As a result, major automakers are setting up their production plants and are focusing on launching new vehicles in the developing economy, which would drive the country’s two wheeler loan market in the coming years. Declining unemployment rates, increasing disposable income and high per capita income level are positively impacting the two wheeler loan market in India.
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India two wheeler loan market can be segmented based on the type, source, percentage of amount sanctioned, type of city, tenure and region. In terms of type of city, market can be segmented into tier 1, tier 2, tier 3 and tier 4. Of all, Tier 2 cities are the major adopters of two wheelers in the country due to congested roads and parking issue in these cities. Two wheelers provide ease of parking and are also fuel efficient, which is pushing their demand across tier 2 cities, thereby boosting two wheeler loans market in such regions.
Major companies offering loans for the purchase of two wheeler in India are Banks and Non Banking Financial Companies (NBFC). NBFCs are coming up with various credit provisions with minimum documentation in order to attract more buyers and borrowers. Leading banks operating in the market include HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Prime Ltd., Axis Bank, among others.
“Two wheeler loan market in India is anticipated to grow at an impressive rate during the forecast period owing to low loan interest rates and cost effectiveness of two wheelers. Moreover, factor like growing disposable income, declining fuel prices and increasing ownership of two wheelers are further bolstering the growth of the two wheeler market in India, which in turn is driving the two wheeler loan market in the country.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“India Two Wheeler Loan Market By Type, By Source, By Percentage of Amount Sanctioned, By Type of City, By Tenure, Competition, Forecast & Opportunities, 2025” has analyzed the potential of two wheeler loan market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India two wheeler loan market.
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