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2022
India Bike Taxi Market

India Bike Taxi Market by Vehicle Type (Motorcycle and Scooter), and Propulsion Type (ICE, and Electric): Opportunity Analysis and Industry Forecast, 2022–2030

A15920
Pages: 88
Mar 2022 | 509 Views
   
Author(s) : Prateek Yadav , Sonia Mutreja
Tables: 34
Charts: 23
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COVID-19

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India’s bike taxi market was valued $50.5 million in 2021, is expected to reach $1,478.0 million by 2030, registering a CAGR of 48.5% from 2022-2030. Taxi is a type of vehicle leasing service, which includes hiring the service of a driver along with the vehicle. The bike taxi is a motorized taxi that carries one passenger as a pillion behind the driver. These taxis are motor vehicle used to carry passengers for hire or reward. These vehicles require a legal contract/ permit for usage as contract carriage. They are available for general public and usually lack regular routes, fixed timings, and fixed stations. A passenger can book or hail a bike taxi ride via a call & message with the help of a smartphone application or website using internet. Passengers can book or hire a bike taxi for a decided route, which would be pre-defined by the passenger.

COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the automotive and transportation sectors are among the hardest hit. Social distancing norms and regulations implemented by healthcare and government authorities encouraged citizens to maintain a certain distance from other persons for safety. This has restricted the usage of ride hailing services such as cabs and bike taxis for daily commute in India. Users prefer to travel in their personal vehicles due to safety concerns, which hampered the India bike taxi business. However, owing to the growing vaccination numbers in India coupled with gradual rise in trend of ride hailing services and on-demand transportation services, the India bike taxi market is foreseen to grow well in near future.

Factors such as increased trend of on-demand ride hailing services, surge in traffic congestion in cities, and rise in demand for first and last mile connectivity are expected to drive the growth of the bike taxi market. However, legal issues associated with bike taxi and resistance from local public transport operators restrains the market growth. On the contrary, surge in inclusion of e-bikes and technological advancement in bike sharing system is projected to offer lucrative growth opportunities for the market players.

India-Bike-Taxi-Market,-2021-2030

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The India bike taxi market is segmented into vehicle type and propulsion type. By vehicle type, the market is divided into motorcycle and scooter. On the basis of propulsion type, it is classified into ICE (Internal combustion engine) and electric.

Key players operating in the India bike taxi market include Baxi, Bikxie, Desto-Bike Taxi, Dunzo, Jugnoo, Mopedo, Ola (ANI Technologies Pvt Ltd), PykUpz, Rapido, and Uber Technologies, Inc.

Rise in trend for on-demand ride hailing services

Ride-hailing services such as bike taxis enable passengers to hail a vehicle using online platforms and provide door-to-door services to their customers owing to which it is one of the most convenient means of transportation. Moreover, while hailing a ride, information of the driver and the passenger is exchanged that make ride-hailing services much safer than the traditional taxi services. In recent years, demand for ride-hailing services has increased significantly, especially among office commuters. Moreover, a significant rise in the preference for on-demand services such as taxis, passenger vehicles, and charter vehicles, which provide tracking of vehicles, real-time feedback, and rating for service experience provided to the end customers has encouraged the consumers to opt for ride-hailing services. Furthermore, ride-hailing services ensure that customers can accurately locate the vehicles and track their journey alongside offering safety to the occupants.

In addition, an increase in the bike taxi services offered by the leading market in India players, including Rapido, Uber, & Ola, and the option to choose convenient pick-up and drop locations has encouraged the consumers to opt for ride-hailing services , which in turn is expected to boost the demand for bike taxi market in India during the forecast period..

Surge in traffic congestion in Indian cities

In recent years, owing to urbanization, a majority of the population has shifted to urban areas, due to an increase in work opportunities and rapid industrialization. In this era of urbanization, daily commute between one place to another is the need for every individual passenger, which is associated with travel time. However, with the upsurge in traffic congestion, the average speeds of travel between two points is also decreasing; resulting in an increase in average commute time.

According to the World Bank paper on Mobility and Congestion in Urban India 2018, the average speed in Indian cities is around 24.4Kmph with Kolkata, Bengaluru, Hyderabad, and Mumbai among the slowest cities in the country. Moreover, according to Press Trust of India, in 2020, Bengaluru drivers spent an average 71% extra travel time caught in traffic. Furthermore, according to TomTom Traffic Index 2021 report, Mumbai, Bengaluru, and Delhi are among the top 10 most congested cities out of 404 cities surveyed across 58 countries.

India Bike Taxi Market
By Technology Type

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Motorcycle segment is projected as the most lucrative segment

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Owing to all these factors, the city planners and the government are promoting public transport and other transportation services such as taxi services and ride-sharing services. The bike taxi occupies less space on roads and can better navigate through traffic. Further, bikes when doubling up as bike-taxis act as an alternative for private vehicle users, and thus reduce the demand for parking spots and can be helpful to minimize the traffic congestion in a city. Owing to all the aforementioned factors, the market for bike taxis in India is expected to grow significantly during the forecast period.

Covid-19 Impact Analysis

COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. According to the Telangana Taxi and Drivers Joint Action Committee (JAC), prior to pandemic, around 35,000 cabs were used to shuttle IT employees from the IT corridor to different destinations. Social distancing norms and regulations implemented by healthcare and government authorities encouraged citizens to maintain a two-meter distance from other persons for safety. This has restricted the usage of ride hailing services such as cabs and bike taxis for daily commute. Users prefer to travel in their personal vehicles due to safety concerns, which hampered the taxi business. In 2020, along with the Cab, and ride sharing industry, bike taxi companies such as Rapido, Ola, Uber, and others suffered severely from the coronavirus pandemic due to travel restrictions and lockdowns. For instance, in March 2020, owing to national lockdown, leading bike taxi provider Rapido and OLA temporarily suspended their operations in India.

India Bike Taxi Market
By Application

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ICE is projected as the most lucrative segment

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Key Benefits For Stakeholders

  • This study presents analytical depiction of the India bike taxi market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
  • The Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

  • By Vehicle Type
    • Motorcycle
    • Scooter
  • By Propulsion Type
    • ICE
    • Electric
  • By KEY PLAYERS
    • Baxi
    • Bikxie
    • Desto-Bike Taxi,
    • Dunzo
    • Jugnoo
    • Mopedo
    • Ola (ANI Technologies Pvt Ltd)
    • PykUpz
    • Rapido
    • Uber Technologies, Inc.
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top impacting factors
3.2.2.Top investment pockets
3.2.3.Top winning strategies

3.3.Porter’s five forces analysis
3.4.Market share analysis, 2021 (%)
3.5.Market dynamics

3.5.1.Drivers

3.5.1.1.Rise in trend for on-demand ride hailing services
3.5.1.2.Surge in traffic congestion in Indian cities
3.5.1.3.Increased demand for first and last mile connectivity

3.5.2.Restraints

3.5.2.1.Legal issues associated with bike taxi services
3.5.2.2.Resistance from local public transport operators

3.5.3.Opportunities

3.5.3.1.Increase in the inclusion of e-bikes
3.5.3.2.Technological advancements in bike sharing system

3.6.Impact of COVID-19 on the market

3.6.1.Evolution of outbreaks

3.6.1.1.COVID-19

3.6.2.Micro economic impact analysis

3.6.2.1.Consumer trends
3.6.2.2.Technology trends
3.6.2.3.Regulatory trends

3.6.3.Macro-economic impact analysis

3.6.3.1.GDP
3.6.3.2.Import/export analysis
3.6.3.3.Employment index

3.6.4.Impact on industry analysis

CHAPTER 4:INDIA BIKE TAXI MARKET, BY VEHICLE TYPE

4.1.Overview
4.2.Motorcycle

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast

4.3.Scooter

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast

CHAPTER 5:INDIA BIKE TAXI MARKET, BY PROPULSION TYPE

5.1.Overview
5.2.ICE

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast

5.3.Electric

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast

CHAPTER 6:COMPANY PROFILES

6.1.BAXI

6.1.1.Company overview
6.1.2.Key executives
6.1.3.Company snapshot
6.1.4.Product portfolio

6.2.BIKXIE

6.2.1.Company overview
6.2.2.Key executives
6.2.3.Company snapshot
6.2.4.Product portfolio

6.3.DESTO-BIKE TAXI

6.3.1.Company overview
6.3.2.Company snapshot
6.3.3.Product portfolio

6.4.DUNZO (DUNZO DIGITAL PRIVATE LIMITED)

6.4.1.Company overview
6.4.2.Key executives
6.4.3.Company snapshot
6.4.4.Product portfolio
6.4.5.Key strategic moves and developments

6.5.JUGNOO (SOCOMO TECHNOLOGIES PVT LTD.)

6.5.1.Company overview
6.5.2.Key executives
6.5.3.Company snapshot
6.5.4.Product portfolio

6.6.MOPEDO

6.6.1.Company overview
6.6.2.Key executives
6.6.3.Company snapshot
6.6.4.Product portfolio

6.7.OLA (ANI TECHNOLOGIES PVT LTD)

6.7.1.Company overview
6.7.2.Key executives
6.7.3.Company snapshot
6.7.4.Product portfolio
6.7.5.Key strategic moves and developments

6.8.PYKUPZ

6.8.1.Company overview
6.8.2.Company snapshot
6.8.3.Product portfolio

6.9.RAPIDO (ROPPEN TRANSPORTATION)

6.9.1.Company overview
6.9.2.Key executives
6.9.3.Company snapshot
6.9.4.Product portfolio
6.9.5.Key strategic moves and developments

6.10.UBER TECHNOLOGIES, INC.

6.10.1.Company overview
6.10.2.Key executives
6.10.3.Company snapshot
6.10.4.Operating business segments
6.10.5.Product portfolio
6.10.6.R&D expenditure
6.10.7.Business performance

LIST OF TABLES

TABLE 01.INDIA BIKE TAXI MARKET, PLAYER RANKING, 2021
TABLE 02.INDIA BIKE TAXI MARKET, BY VEHICLE TYPE, 2021–2030 ($MILLION)
TABLE 03.INDIA BIKE TAXI MARKET, BY PROPULSION TYPE, 2021–2030 ($MILLION)
TABLE 04.BAXI: KEY EXECUTIVES
TABLE 05.BAXI: COMPANY SNAPSHOT
TABLE 06.BAXI: PRODUCT PORTFOLIO
TABLE 07.BIKXIE: KEY EXECUTIVES
TABLE 08.BIKXIE: COMPANY SNAPSHOT
TABLE 09.BIKXIE: PRODUCT PORTFOLIO
TABLE 10.DESTO-BIKE TAXI: COMPANY SNAPSHOT
TABLE 11.DESTO-BIKE TAXI: PRODUCT PORTFOLIO
TABLE 12.DUNZO: KEY EXECUTIVES
TABLE 13.DUNZO: COMPANY SNAPSHOT
TABLE 14.DUNZO: PRODUCT PORTFOLIO
TABLE 15.JUGNOO: KEY EXECUTIVES
TABLE 16.JUGNOO: COMPANY SNAPSHOT
TABLE 17.JUGNOO: PRODUCT PORTFOLIO
TABLE 18.MOPEDO: KEY EXECUTIVES
TABLE 19.MOPEDO: COMPANY SNAPSHOT
TABLE 20.MOPEDO: PRODUCT PORTFOLIO
TABLE 21.OLA: KEY EXECUTIVES
TABLE 22.OLA: COMPANY SNAPSHOT
TABLE 23.OLA: PRODUCT PORTFOLIO
TABLE 24.PYKUPZ: COMPANY SNAPSHOT
TABLE 25.PYKUPZ: PRODUCT PORTFOLIO
TABLE 26.RAPIDO: KEY EXECUTIVES
TABLE 27.RAPIDO: COMPANY SNAPSHOT
TABLE 28.RAPIDO: PRODUCT PORTFOLIO
TABLE 29.UBER TECHNOLOGIES, INC.: KEY EXECUTIVES
TABLE 30.UBER TECHNOLOGIES, INC.: COMPANY SNAPSHOT
TABLE 31.UBER TECHNOLOGIES, INC.: OPERATING SEGMENTS
TABLE 32.UBER TECHNOLOGIES, INC.: PRODUCT PORTFOLIO
TABLE 33.UBER TECHNOLOGIES, INC.: R&D EXPENDITURE, 2019–2021 ($MILLION)
TABLE 34.UBER TECHNOLOGIES, INC.: NET SALES, 2019–2021 ($MILLION)

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY
FIGURE 03.TOP IMPACTING FACTORS
FIGURE 04.TOP INVESTMENT POCKETS
FIGURE 05.TOP WINNING STRATEGIES, BY YEAR, 2019–2022*
FIGURE 06.TOP WINNING STRATEGIES, BY YEAR, 2019–2022*
FIGURE 07.TOP WINNING STRATEGIES, BY COMPANY, 2019–2022*
FIGURE 08.MODERATE POWER OF SUPPLIERS
FIGURE 09.LOW-TO-MODERATE BARGAINING POWER OF BUYERS
FIGURE 10.MODERATE THREAT OF SUBSTITUTES
FIGURE 11.LOW-TO-HIGH INTENSITY OF RIVALRY
FIGURE 12.LOW-TO-HIGH THREAT OF NEW ENTRANT
FIGURE 13.MARKET SHARE ANALYSIS, 2021 (%)
FIGURE 14.INDIA BIKE TAXI MARKET, BY VEHICLE TYPE, 2021–2030 (%)
FIGURE 15.INDIA BIKE TAXI MARKET FOR MOTORCYCLE, 2021–2030 ($MILLION)
FIGURE 16.INDIA BIKE TAXI MARKET FOR SCOOTER, 2021–2030 ($MILLION)
FIGURE 17.INDIA BIKE TAXI MARKET, BY PROPULSION TYPE, 2021–2030 (%)
FIGURE 18.INDIA ICE BIKE TAXI MARKET, 2021–2030 ($MILLION)
FIGURE 19.INDIA ELECTRIC BIKE TAXI MARKET, 2021–2030 ($MILLION)
FIGURE 20.UBER TECHNOLOGIES, INC.: R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 21.UBER TECHNOLOGIES, INC.: NET SALES, 2019–2021 ($MILLION)
FIGURE 22.UBER TECHNOLOGIES, INC.: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 23.UBER TECHNOLOGIES, INC.: REVENUE SHARE BY REGION, 2021 (%)


 
 

In accordance with the insights by CXOs of the leading companies, the India bike taxi market is projected to witness considerable growth owing to rise in the preference for bike taxi and sharing services among the regular office commuters.

Moreover, the leading players, including Rapido, Uber, Bike, Ola have seen rise in investments. For instance, in August 2021, Rapido raised $52 million from several investors comprising Shell Ventures, Yamaha, Kunal Shah (CRED), and Positive Moves Consulting to expand company’s operations across India. The raised fund is anticipated to be utilized for making strategic investments in innovations, technology, people, and supply.

Owing to such investments, bike taxi operators offer various facilities, offers, and discounts to reduce the expenses of daily commuters, which is expected to fuel the demand for bike taxi services. Moreover, urban passengers are more inclined toward technologically advanced commute solutions along with its time-effective commute option to avoid unnecessary long traffic congestion along with green mobility. Thus, urban passengers are more dependent on technologically advanced solutions for daily commute, which significantly boosts the demand for bike taxi services in India.

Moreover, the bike taxi industry provides employment opportunities to thousands of Indians and it is expected to create new jobs for many in the near future. The bike taxi service allows drivers to work full time or part time. According to industry estimation, bike taxi market is expected create more than one million job and livelihood opportunities in near future.

For instance, from July 2019 to December 2019, the OLA reported completing over 150,000 trips a day across 30 cities, with each bike-taxi driver-partner earning INR 10-15,000 a month. By 2020, Ola Bikes has scaled its operation to around 200 cities and engaged more than 300,000 driver-partners.

As the employment opportunity is increasing, various state governments are also supporting the bike taxi market. However, there is still lack of clarity in the policies of the transportation departments/ state governments for bike taxis, which hinders the growth of the market. Further, increased inclusion of e-bikes and technological advancement in bike sharing system are some of the factors expected to offer lucrative opportunities for market growth during the forecast period.

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