Rising HNI Population to Drive Premium Motorcycles Market beyond $ 160 million in India
Growing
HNWI population, setting up of new CKD and SKD units and increasing demand for
high engine capacity motorcycles to drive India premium motorcycles market
through 2023
According to TechSci Research report, “India Premium Motorcycles Market By Engine Capacity, Competition
Forecast & Opportunities, 2013 – 2023”, premium motorcycles market in the Asian country is
forecast to reach $ 161 million by 2023. Backed by increasing establishment of Completely
Knock Down (CKD) and Semi Knocked Down (SKD) plants for premium motorcycles, expanding
distribution network of major players, and declining average selling price of
premium motorcycles, demand for premium motorcycles is expected to grow at a
robust pace in India in the coming years. Moreover, High Net Worth
Individuals, whose population grew from 200,000 in 2015 to 219,000 in 2016, are
the major contributors towards the growing premium motorcycles market in the country.
Browse 28 market data
Figures and Tables spread through 85 Pages and an
in-depth TOC on "India Premium
Motorcycles Market"
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Premium motorcycles with an engine capacity of 500-800cc
held the largest market share in 2017, accounting for around half of the volume
market. During the forecast period as well, the segment is anticipated to
dominate the market, on account of availability of a wide range of product offerings
in the segment, and economical pricing and easy maintenance as compared to high
engine capacity of above 800cc motorcycles. Southern region captured around one
third of India premium motorcycles volume market in 2017, owing to high sales
in cities such as Bengaluru and Mysore. Moreover, increase in the number of
motorcycle clubs and groups in cities such as Hyderabad, Chennai, Bengaluru,
Delhi, Chandigarh, etc., is anticipated to further fuel demand for premium
motorcycles in India during the forecast period.
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“Over the last few years, several premium
motorcycle companies established their CKD assembling units, which resulted in
a decline in the average selling price of premium motorcycles in India. Moreover,
growing penetration of international premium motorcycle companies such as
Harley Davidson, Ducati, Triumph, etc., improving road infrastructure, rising disposable
income and increasing availability of a wide range of product portfolio would
provide lucrative growth opportunities to premium motorcycle providers in India
through 2023.””, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Premium Motorcycles Market By Engine Capacity, Competition
Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of premium
motorcycles market in India, and provides statistics and information on market
size, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
TechSci Research is a leading global market research firm publishing
premium market research reports. Serving 700 global clients with more than 600
premium market research studies, TechSci Research is serving clients across 11
different industrial verticals. TechSci Research specializes in research based
consulting assignments in high growth and emerging markets, leading
technologies and niche applications. Our workforce of more than 100 fulltime
Analysts and Consultants employing innovative research solutions and tracking
global and country specific high growth markets helps TechSci clients to lead
rather than follow market trends.
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