India is notorious for its traffic congestion, especially the major urban areas, including Delhi/NCR, Mumbai, and Bengaluru. With every passing year, the number of people out on their personal vehicles keeps rising, which is clogging up the streets. To make matters worse, India is also one of the most polluted countries on earth. Both these factors, combined, have created an urgency to get as many personal vehicles off the road as possible. Thankfully, the concepts of ride sharing, ride-hailing, carsharing, and car rental have emerged, which are encouraging people to shift to shared transportation.
Another similar, cost-effective option for short distances is sharing a two-wheeler, such as a bike (bicycle), scooter, or motorcycle. In a recent analysis, P&S Intelligence found that the two-wheeler sharing market in India is on path to witnessing massive growth, from $31.1 million in 2019 to $94.0 million by 2025, at a 20.2% CAGR during 2020–2025. There are several advantages of availing of such services, especially for the middle class, which makes up for a large chunk of the country’s huge population. First, people don’t need to buy personal vehicles, which otherwise incur high purchase costs, maintenance charges, insurance premiums, and, in many places, parking expenses.
Sharing services in the country are available on bikes as well as motorcycles/scooters, of which the latter types of two-wheelers are more popular. This is because they are significantly faster than bikes, and they also don’t require manual pedaling, which can be tiring, if done for slightly longer durations. People going to the office in the morning wouldn’t want to get spent up, pedaling down the roads, before they even reach their workplace, with the entire hectic day ahead.
Hence, with more people shelving their personal vehicles and the confidence of women in the safety profile of the concept increasing, the demand for two-wheeler sharing services in India would witness massive growth in the next five years.
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