Bosch aims to mop up one-third revenue of two-wheeler segment from India.
Auto components major Bosch is bullish about the two-wheeler market in the country and expects to mop up one-third of the global revenue of the segment from India, said a company official in New Delhi on Friday. According to the company, the rise in disposable income coupled with the growing number of youth looking for better riding experience would lead to growth of new generation bikes with connectivity solutions and powersports technologies.
Besides, globally, Bosch would continue to invest in dedicated motorcycle and powersports technologies with an aim to become the market leader in the segment, the official added.
“We expect that about one-third of our turnover (two-wheelers) would come from the Indian market … we expect it to be by 2022,” said Geoff Liersch, the head of Two-Wheeler & Powersports Business Unit, Bosch.
However, Liersch did not share the current figures of India in the global two-wheeler chart of the company.
In 2017, Bosch posted a revenue of Rs 10,842 crore in India.
Quoting a survey, Bosch said that, globally, the demand for two-wheelers is likely to grow by over 4% annually from 2017 to 2022, reaching 122 million units by 2022.
Two-wheeler and powersports business is poised for a major growth in India, where Bosch supplies market-specific motorcycle safety and powertrain solutions to comply with regulations as well as local market trends, it said.
“The two-wheeler landscape today is undergoing many changes as industry players look to innovate their service offerings,” added Liersch.
Bosch Group is a global supplier of technology and services employing roughly 410,000 associates worldwide.
In India, Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology.