India’s two-wheeler industry has seen notable changes in market dynamics over the last five years. As the sector crossed significant sales volumes, key players adjusted to evolving competition, changing demand patterns, and shifts in product preference.
According to data compiled by ET Bureau and insights from Jefferies Equity Research, the period from FY21 to FY25 witnessed market share realignments among the top four manufacturers — Hero MotoCorp, Honda Motorcycle, TVS Motor, and Bajaj Auto — reflecting the broader transformation underway in the industry.
