Top Two Wheeler Companies In India
- Hero MotoCorp is the largest two wheeler company in India by volume which alone holds 35% market share in the industry
- Pune based Bajaj Auto holds around 15% market share and it is the world’s most valuable two wheeler company
More than 2 crore two wheelers production annually, this is the scale of India’s two wheeler industry. In a country of 1.2 billion people two wheelers plays a major role. Even though India is the world’s largest two wheeler market, the penetration is still very low. More than 50% population still doesn’t own two wheelers. This gives an idea that top two wheeler companies in India still have room for improvement and growth opportunity is huge. The two wheeler companies in India are immensely successful in domestic as well as in international markets.
Read More: 5 Largest Two Wheeler Manufacturing Plants In India
There was a time when only scooters used to sell in India but bikes. This surprised everyone as India’s unique market dynamics couldn’t be understood easily. Today India’s two wheeler industry has diversified into bikes, scooters and mopeds. Sales of bikes are much more than the scooters nowadays. As India’s two wheeler market is huge, world’s leading two wheeler companies like Yamaha, Honda, Suzuki operates here. But the domestic two wheeler makers are leading and their growth is unhindered by their presence. In top 5 two wheeler companies there is only one foreign company – Honda. So let’s take a look at all 5 of them:
Hero MotoCorp
India’s largest two wheeler company is Hero MotoCorp. The company has sold over 100 million two wheelers till date. By volume it is the world’s largest two wheeler maker. Hero MotoCorp alone holds more than 35% market share in India’s two wheeler market. In 1984, Hero MotoCorp started its journey with Honda under the joint venture Hero Honda. This joint venture enjoyed huge success but got terminated in 2010 and then Hero MotoCorp was born.
| Revenue | ₹29,551 crore |
| Net Income | ₹2,528 crore |
| Market Share | 35% |
| Capacity | 9 Million / Year |
| Dealerships | 6,000+ |
Hero MotoCorp can produce about 9 million two wheelers annually. 8 different plants across India produces two wheelers on such a massive scale. With over 6,000 dealerships and service touch points Hero MotoCorp’s penetration is more than any other two wheeler companies in India. It is the India’s only two wheeler brand that has exceeded sales of 100 million models.
Honda Motorcycles & Scooters India (HMSI)
Honda operates in India through its wholly owned subsidiary Honda Motorcycles & Scooters India. It is India’s 2nd largest two wheeler maker that holds 19% market share in the industry. In this list Honda is the only foreign brand as India’s two wheeler sector is heavily dominated by domestic players. The company has 4 manufacturing plants in India that can produce 7 million two wheelers annually.
| Revenue | ₹22,423 crore |
| Net Income | ₹152 crore |
| Market Share | 19% |
| Capacity | 7 million / year |
| Dealerships | 2,000+ |
Honda Motorcycles & Scooter India has around 2,000 dealerships. In FY21, HMSI posted a revenue of ₹22,423 crore. Net profit of the company during the same year stood at ₹152 crore with huge 87% drop. After Hero Honda joint venture split, Honda was successful to establish itself as a major two wheeler manufacturer but Hero continues to lead, both in financials and sales.
TVS Motor Company
India’s 3rd largest two wheeler company is TVS. This company holds 14% market share in India’s two wheeler market. TVS is also the second largest exporter of two wheelers in India. In more than 60 countries TVS export its products. The company has 3 two wheeler plants and 1 three wheeler plant in India. TVS has around 2,300 dealerships in India.
| Revenue | ₹24,388 |
| Net Income | ₹728 crore |
| Market Share | 14% |
| Capacity | 4.95 million / year |
| Dealerships | 2,300+ |
In 2022, TVS posted a revenue of ₹24,388 crore. During the same time net profits were at ₹728 crore. The company has 5,200 employees working under. TVS sells around 3 million two wheelers annually in India and has a production capacity of 4.95 million two wheelers every year. The company is specially known for its moped.
Bajaj Auto
The world’s most valuable two wheeler maker is Bajaj Auto. On 1 january 2021 when Bajaj Auto crossed the market cap of ₹1 lakh crore ($12.5 billion) it became the world’s leading two wheeler company. Bajaj Auto is the the world’s 3rd largest two wheeler manufacturer and it has its operations in 70 countries. In India’s two wheeler market Bajaj Auto holds around 15% market share.
| Revenue | ₹34,428 crore |
| Net Income | ₹5,586 crore |
| Market Share | 15% |
| Capacity | 7.5 million / annually |
| Dealerships | 660+ |
Bajaj Auto has a production capacity of 7.5 million two wheelers annually. The company operates 4 manufacturing plants in India. In FY22, Bajaj Auto revenue stood at ₹34,428 crore. During the same time the company’s net profits were at ₹5,586 crore. Bajaj Auto has around 10,000 employees working under. Around 660 dealerships in India are of Bajaj Auto that sells its Platina, Pulsar etc.
Royal Enfield
Owned by Eicher, Royal Enfield is India’s 5th largest motorcycle brand. This company is famous among enthusiasts due to its rich heritage and classic design. Royal Enfield holds around 4.5% market share in India’s two wheeler market. Unlike other companies, Royal Enfield manufactures premium bikes with displacement of 350cc or more. Around 350 dealerships of this company are in India which sells its popular bikes and apparels.
| Revenue | ₹8,965 crore |
| Net Income | ₹1,960 crore |
| Market Share | 4.5% |
| Capacity | 9,50,000 / annually |
| Dealerships | 350+ |
Royal Enfield has three manufacturing plants in India. Eicher Motors doesn’t release seperate financials of this brand regularly. In 2018, Eicher Motors released Royal Enfield financials for the last time. In 2018, Royal Enfield total revenue stood at ₹8,965 crore and net profits were at ₹1,960 crore. Royal Enfield has a production capacity of 9,50,000 bikes annually.
| Brand | Market Share |
| Hero | 35% |
| Honda | 19% |
| TVS | 14% |
| Bajaj | 15% |
| Royal Enfield | 4.5% |
So These Were Top 5 Two Wheeler Companies In India.
