> Market Trends & Developments in India's Two Wheeler Loan Market 2020-2025 - Webgeak

Market Trends & Developments in India's Two Wheeler Loan Market 2020-2025


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From research the Two Wheeler Loan Market in India is projected to grow from an estimated $7.2 billion in 2020 to $12.3 billion by 2025, exhibiting a CAGR of quite 11% over subsequent five years.

The growth within the market is expected on account of growing income, declining fuel prices and increasing ownership of two-wheelers. Technological advancements within the sort of a shift from combustion engine vehicle to electric vehicles, new product launches, subsidies offered by the government on purchase of electric vehicles and high vehicle replacement rate are boosting the sales of two-wheelers across the country, thereby driving the 2 wheeler loan market.

Two-wheelers offer a preferred transport option for brief distance commute in India. Moreover, two-wheelers are convenient in traffic congestions and supply simple parking compared with other vehicles, thereby aiding the adoption of two-wheelers, which successively, is driving the 2 wheeler loan market also.

Moreover, there's a choice to apply online for a loan and fewer documents are required, due to net banking, eliminating hassles associated with long approval, which is positively influencing the expansion of the market.

Additionally, the presence of major automakers within the country, flexibility in terms of tenure and payment mode and negotiable interest rates supported CIBIL scores are further steering growth within the market.

The Indian Two Wheeler Loan Market are often segmented supported type, source, percentage of amount sanctioned, sort of city, tenure and region. In terms of type, the Indian Two Wheeler Loan Market are often bifurcated into new two-wheeler and used two wheeler loans. New two wheeler is that the major segment within the market; however, old two wheeler segment is anticipated to witness growth within the coming years on account of lower cost of such vehicles.

Major players operating within the Indian Two Wheeler Loan Market are categorized into Non Banking Finance Companies (NBFC) and banks. as an example , a number of the main banks within the country include HDFC bank, depository financial institution of India, ICICI bank and Axis Bank, among others. Leading NBFCs operating within the country include Hero Fincorp, Bajaj Finserv, Mahindra & Mahindra Financial Services Limited and Shriram Transport Finance Co. Ltd., Ltd.
         
   
   
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