13.08.2020 Шоубизнес и светская жизнь

India Two-Wheeler Sharing Market Competitive Share and Growth Forecast to 2025

According to the market research report published by P&S Intelligence, the Indian two-wheeler sharing market share was valued at $31.1 million in 2019, which is projected to reach $94.0 million by 2025, witnessing a CAGR of 20.2% during the forecast period (2020–2025). In the vehicle type, the motorcycle/scooter category dominated the market during the historical period.

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During the forecast period, the market for motorcycle/scooter sharing service is expected to witness faster growth. This is ascribed to the fact that there are many players providing motorcycle/scooter sharing, rental and bike taxi services, and their lucrative two-wheeler sharing services are making the Indian people to shift toward using shared motorcycles and scooters from using other modes of transport.

The Indian two-wheeler sharing market is presently filled with various startup companies. To expand their operational areas and to increase their fleet size, they require large amount of funds. For this reason, these players have been receiving investments from investors in forms of debt funding and equity funding continuously; and most of the two-wheeler sharing companies are in talks with various individuals and group companies for funds. For instance, scooter rental company, WickedRide Adventure Services Pvt. Ltd. (Bounce) raised $72 million fund, led by Falcon Edge Capital and B Capital Group, for the expansion of its services into new cities in the near future.

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In January 2020, Bounce raised $105 million in its series D funding round which was led by Accel Partners and B Capital. With this, the company’s total funding is now over $194 million. The company has planned to use this amount in its fleet expansion and in building of its own electric vehicles.

Some other important players operating in the Indian two-wheeler sharing market are Yulu Bikes Pvt. Ltd., Bashar Technologies Pvt. Ltd. (Wheelstreet), Motocruizer Technologies India Pvt. Ltd. (Onn Bikes), ANI Technologies Pvt. Ltd. (Ola Bike), Drivezy India Travels Pvt. Ltd., and ZipHop Technologies Pvt. Ltd.