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Transportation and Logistics
Market potential for 2W rental services & competitive differentiator of a target vs its competitors
29 May 2020
Context
  • Client description: Upcoming 2W rental player in India
  • Opportunity: To understand the market potential and competitive differentiators for organized 2W rental service in India
Our Approach
  • Extensive secondary research to understand the increase in penetration of 2W rental services as a share of total motorized trips
  • Market study to evaluate the relative market share of competitors
  • Triangulation using the market potential for similar models in international geographies
  • Primary conversations with 100+ consumers to understand user preferences and concerns
  • Primary survey of 1000+ consumers to understand the NPS and drivers of promotion/detraction for target vs competitors 

Key Insights / Outcomes

Largest market share of 2W taxis (US$ 105M) followed by self-rentals which is led by unorganized players (US$ 26M), followed by on-demand instant rental players like Bounce, Vogo (US$ 23M) and mid-term hourly rental players (US$ 0.9M)

Segment is witnessing players like Bounce explore new business models like EV-led mobility solutions and local, Kirana partnerships which can chart a route to sustainable unit economics

In terms of competition, Vogo offers the lowest price whereas Bounce has the widest geographical coverage & dock less parking

Price, reliability and driver amenities are valued most by 2W rental users

Praxis Value Delivered 
  • Estimated the market potential and increase in penetration of 2W rentals services in India
  • Provided insights on how the target is differentiated, what is its value propositions and where does it win or lose vs its competitors
  • Identification of drivers and barriers of adoption for 2W rental services by consumers
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