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Long story short: Explore the landscape of India’s bike and scooter brands in 2024, delving deep into their market shares and sales figures. Discover which companies dominate the industry in terms of sales and market share that shape the vibrant motorcycle market in India.
Key Takeaways
- Motorcycle brands are attracted to the Indian market due to its large and growing market, low-cost manufacturing, strong demand for affordable motorcycles, increasing brand awareness, and expanding dealer networks.
- Motorcycle brands are drawn to India due to its growing middle class, young population, underdeveloped public transportation, and favourable government policies for the two-wheeler industry
- The top motorcycle brands in India for 2024, based on market share and sales figures, are Hero Motocorp, Honda Motorcycle and Scooter India, Bajaj Auto, TVS Motor Company, Suzuki Motorcycle India, Royal Enfield, Yamaha Motor India, Ola Electric, Ather Energy, and KTM India.
Why Indian market is important for motorcycle brands?
India is a market which a two wheeler business cannot ignore due to the following reasons are
The 5 crucial factors attracting the motorcycle brands towards the Indian market
- Large and growing market: The market will continue to grow in the coming years. Factors for the same are increasing disposable incomes, urbanization, and a growing preference for personal transportation.
- Low-cost manufacturing: India has a solid manufacturing base and a large pool of skilled labour, which allows two-wheeler companies to produce motorcycles at a relatively low cost.
- Strong demand for affordable motorcycles: Most Indian motorcycle buyers seek affordable and fuel-efficient ones. Two-wheeler companies that can produce motorcycles that meet these needs are well-positioned to succeed in the Indian market.
- Increasing brand awareness: The heavy investments in brand awareness campaigns by bike brands in India are not just a marketing strategy but a significant factor in increasing the visibility of their brands. This is making Indian consumers more aware and knowledgeable about the available options in the market.
- Expanding dealer networks: Two-wheeler companies are expanding their dealer networks in India to reach a broader customer base. This makes it easier for Indian consumers to purchase and service their motorcycles.
The other factors attracting the bike brands towards the Indian market
- Growing middle class: The Indian middle class is proliferating, leading to an increase in demand for motorcycles.
- Young population: India has young people, another factor driving motorcycle demand.
- Underdeveloped public transportation: Underdeveloped public transportation in India makes motorcycles a popular transportation form.
- Favourable government policies: The Indian government has implemented several favourable policies for the two-wheeler industry. This includes mainly subsidies for fuel-efficient motorcycles.
So, by scrolling down, let’s check out India’s top bike or motorcycle brands right now. Please note that toppers among the top motorcycle brands in India are considered based on market share and sales figures.
Top bike or motorcycle brands in India according to market share and sales figures in 2024
We all know why top bike or motorcycle brands are trying to enter and increase their market share in India. So now let’s check and analyze which bike companies have the top 10 market share with exact sales figures in India.
1. Hero Motocorp
Hero Motocorp has been the leading motorcycle manufacturer for several years, with over 30% market share. The company offers over 20 models in India and exports several models outside the country. Initially, the company was known as Hero Honda, a joint venture between Hero and Honda that started its operations in 1984. The Munjal brothers used the “Hero” brand for their parent company, Hero Cycles Ltd.
Click this link to know more: https://www.bikeleague.in/hero-motocorp-bikes
2. Honda Motorcycle and Scooter India
In 1999, Honda Motorcycle and Scooter India (HMSI) began its operations in India and has since become one of the top three motorcycle companies in the country. Previously, Honda and Hero had a joint venture called Hero Honda, which ended in 2010. Despite this, both companies compete to become India’s number-one motorcycle company. Today, HMSI is a wholly-owned subsidiary of Honda Motor Company Ltd., Japan. It offers over 20 different Honda bike models in India.
Click this link to know more: https://www.bikeleague.in/honda-bikes-models
3. Bajaj Auto
Bajaj, a key player in Indian bike brands, has established itself as a leading motorcycle manufacturer and has received domestic and international recognition. The brand has had an impressive journey, starting with the production of Chetak scooters in 1945 and later shifting its focus to motorcycles in 1986, which paved the way for its rapid growth in the industry.
One noteworthy aspect of Bajaj’s progress is its strategic alliances with renowned global motorcycle giants. The collaboration with Kawasaki in 1984 and KTM in 2007 greatly enhanced its technological capabilities and product range, allowing the company to offer a diverse selection of motorcycles for different riders. Although the partnership with Kawasaki ended in 2017, the technological advancements and expertise gained from these collaborations continue to support Bajaj’s strong product lineup and innovative designs.
Click this link to know more: https://www.bikeleague.in/bajaj-bikes
4. TVS Motor Company
TVS Motor Company is a renowned global manufacturer of two and three-wheelers, committed to Sustainable Mobility. The company has a strong foundation built on Trust, Value, and Customer Passion, with a century-long legacy. It has four advanced manufacturing facilities in India and one in Indonesia. The company is the only two-wheeler entity to receive the prestigious Deming Prize.
Its products are internationally known for superior quality, innovation, and sustainable practices. They have received numerous accolades in various surveys, including leading positions in the J.D. Power IQS and APEAL surveys. TVS Motor Company has consistently ranked the No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years.
Click this link to know more: https://www.bikeleague.in/tvs-bikes
5. Suzuki Motorcycle India
Suzuki Motorcycle India Private Limited (SMI) is a subsidiary of Suzuki Motor Corporation, Japan. Since its beginning, SMI has followed the same manufacturing philosophy of providing value-packed products. SMI is a wholly owned Indian subsidiary of Suzuki, Japan. It was India’s third Suzuki automotive venture, following TVS Suzuki (1982–2001) and Maruti Suzuki (1982).
In 1982, Suzuki Motor Corporation and TVS Motor Company formed a joint venture and started producing two-wheelers in India. After parting ways with TVS Motor Company in 2001, the company re-entered the Indian market as Suzuki Motorcycle India, Private Limited (SMI) in 2006.
Click this link to know more: https://www.bikeleague.in/suzuki-bikes
6. Royal Enfield
Royal Enfield, a renowned British motorcycle company established in 1901, has made owning a cruiser a reality for many motorcycle enthusiasts. This iconic brand offers affordable pricing, high brand value, and low maintenance costs, making it a sensation across all age groups. While initially known for its classic vintage models, Royal Enfield India has now introduced modern motorcycles with state-of-the-art technology, signalling a positive shift.
The Enfield Cycle Company of Redditch, located in Worcestershire, England, manufactured the first Royal Enfield motorcycle in 1901. The company is famous for creating the Bullet, which holds the record for the longest-lived motorcycle design among all bike brands. Today, Royal Enfield is a subsidiary of Eicher Motors.
It produces a range of classic-looking motorcycles, such as the Bullet, Classic 350, Goan Classic 350, Meteor 350, Scram 440, Interceptor 650, Continental 650, and Super Meteor 650. Additionally, they offer adventurous off-roading motorcycles like the Himalayan 450. The manufacturing plant is situated in Chennai, Tamil Nadu, India.
Click this link to know more: https://www.bikeleague.in/royal-enfield-bikes
7. Yamaha Motor India
Yamaha, known initially as Nippon Gakki Co., was founded by Torakusu Yamaha. Established in 1887, it started as a manufacturer of Western musical instruments in Japan. However, it wasn’t until 1955 that the company ventured into the motorcycle industry. Despite still producing musical instruments, Yamaha is now one of the four major Japanese manufacturers in the two-wheeler industry.
During World War II, Yamaha was contracted by the Japanese government to manufacture aeroplane propellers made of wood and metal. The company faced challenges in the aftermath of the war. In the early 1950s, Chairman Genichi Kawakami repurposed their unused wartime facilities to produce small motorcycles for recreational purposes.
Yamaha motorcycles made their debut in India in 1985. Later, in August 2001, it became a wholly-owned subsidiary of Yamaha Motor Co., Ltd, Japan (YMC). In 2008, Mitsui & Co. Ltd. partnered with YMC as a joint investor in India Yamaha Motor Private Limited (IYM).
Click this link to know more: https://www.bikeleague.in/yamaha-bikes
8. Ola Electric
Ola Electric is a prominent player in India’s electric vehicle (EV) market, primarily focusing on electric two-wheelers. The company was founded in 2017 as a wholly-owned subsidiary of ANI Technologies, the parent company of Ola, the ride-hailing giant in India. The company has rapidly grown to become a leading manufacturer of electric vehicles in the country, with a significant market share in the electric scooter segment.
Ola’s flagship product is the Ola S1 electric scooter, available in three variants: Ola S1 Air, Ola S1X, and S1 Pro. These scooters are manufactured at the company’s state-of-the-art facility in Tamil Nadu. The company has also announced plans to expand its product line to include electric motorcycles by 2025.
Click this link to know more: https://www.bikeleague.in/ola-bikes/
9. Ather
Ather Energy is a prominent Indian electric vehicle (EV) company specializing in electric scooters. Founded in 2013 by Tarun Mehta and Swapnil Jain, Ather has significantly impacted the Indian EV market through its innovative products and strategic growth initiatives. They introduced 4 new models in India, with the most popular bikes being Rizta, 450X and 450S.
Ather Energy was founded in October 2013 at the Indian Institute of Technology-Madras Research Park by Tarun Mehta and Swapnil Jain, who envisioned a future powered by clean energy. In December 2014, Flipkart founders Sachin Bansal and Binny Bansal invested $1 million as seed capital, providing the initial financial boost needed for development. By May 2015, Ather had secured an additional $12 million from Tiger Global to further its development, testing, and production efforts.
Click this link to know more: https://www.bikeleague.in/ather-bikes/
10. KTM India
KTM is one of the leading off-road motorcycle manufacturers globally. The partnership between Bajaj and KTM began in 2007 when Bajaj Auto International Holdings BV acquired a 14.5% stake in KTM Power Sports AG and introduced the brand in India.
Over the years, BAIHBV gradually increased its stake to 48%. In 2021, the shareholding structure was simplified as BAIHBV exchanged 46.5% of its holding for a 49.9% stake in PTW Holding AG, the parent company of the KTM group.
KTM entered the Indian market in 2012 when Bajaj Auto increased its stake in KTM from 14.5% to 47%. This was also the year when the KTM Duke 200 was launched in India. As the company started to achieve positive sales figures, KTM and Bajaj announced their plans to develop new mass-market motorcycles in the 125cc, 200cc, and 390cc segments.
Click this link to know more: https://www.bikeleague.in/ktm-bikes
Note:
- Market share percentages are based on total two-wheeler sales in India 2024
- Sales figures are based on data from the Society of Indian Automobile Manufacturers (SIAM)
FAQ about the bike brands dominating India’s market share in 2024
1. Which are the top bike brands in India in 2024?
The top bike brands in India include Hero MotoCorp, Honda Motorcycle and Scooter India (HMSI), TVS Motor Company, Bajaj Auto, Suzuki Motorcycle India, Royal Enfield, Yamaha Motors, Ola Electric, Ather and KTM. These brands have established a significant presence in the Indian market through quality, innovation, and extensive distribution networks.
2. What is the market share of Hero MotoCorp in India?
Hero MotoCorp is the largest bike manufacturing company in the world and India, holding over 29% of the market share in the Indian motorcycle industry.
3. How has Honda Motorcycle and Scooter India (HMSI) performed in the Indian market?
Honda Motorcycle and Scooter India (HMSI) is one of India’s top three motorcycle companies. It is the market leader in the scooter segment and has a significant presence in the motorcycle market.
4. What makes Bajaj Auto a key player in the bike brands?
Bajaj Auto is a leading motorcycle manufacturer in India. It is known for its diverse products, including motorcycles, auto rickshaws, and electric scooters. It has received both domestic and international recognition for its quality and innovation.
5. What are the notable achievements of TVS Motor Company?
TVS Motor Company is a renowned global manufacturer of two and three-wheelers, committed to sustainable mobility. It has an extensive distribution network with over 9000 dealers globally and offers a wide selection of products.
6. Why is Royal Enfield popular among motorcycle enthusiasts?
Royal Enfield, established in 1901, is the world’s oldest bike manufacturer. It is known for its classic and cruiser motorcycles, making owning a cruiser a reality for many motorcycle enthusiasts. The brand is currently housed under Eicher Motors Limited.
7. What distinguishes Suzuki Motorcycle India from other Indian bike brands?
Suzuki Motorcycle India specializes in entry-level sports bikes and popular scooter models like the Access 125. The company has seen significant sales growth, increasing its market share.
8. How has Yamaha Motors established itself in India?
Yamaha Motors is one of India’s largest motorcycle retailers, known for its sporty and reliable bikes. The brand sells about 15,000 scooters monthly and continues to innovate with models like the Yamaha MT-15 and Yamaha R15 V4.
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- Best bike tyre brands for your motorcycle in India
- Different types of motorcycles explained
- Top 5 superbikes or supersport bikes in India in terms of sheer power
Conclusion
The latest available data shows that the figures presented may vary slightly depending on the source. Still, we have tried our best to provide accurate data. The motorcycle market in India is constantly evolving and dynamic, which means that the rankings may change over time.
In 2024, Hero MotoCorp maintained its position as the top player, with a market share of 28.8%. Honda Motorcycle and Scooter India followed closely behind, with a market share of 27.1%. The other top players are TVS Motor Company, Bajaj, Suzuki, Royal Enfield, Yamaha, Ola Electric, Ather and KTM, which occupy the remaining five positions.
The Indian motorcycle market experienced significant growth in 2024, with total sales reaching 19,542,833 units. This growth is attributed to various factors, including rising disposable incomes, increasing urbanization, and a growing preference for personal transportation.
The market will continue growing in the coming years, driven by the expansion of the middle class and the introduction of new models. The increasing popularity of electric motorcycles will also contribute to the market’s growth. We hope you now have a clear understanding of the top bike brands in India.
If you have any other doubts or queries related to top motorcycle or bike brands in India according to market share and sales figures, email us at bikeleague2017@gmail.com or share your doubts or opinions in the comments section below. We are always eager to help and assist you. Also, here are several social media platforms of Bikeleague India to raise your suspicions.
