Premium Motorcycles Market in India to Grow at 20% till 2022
Expanding
high net worth individual population base, growing number of domestic assembly
plants and declining average selling prices of premium motorcycles to drive
India premium motorcycles market through 2022
According to TechSci Research report, “India
Premium Motorcycles Market By
Cubic Capacity, Competition Forecast & Opportunities, 2022”, the India premium motorcycles market is
forecast to grow at a CAGR of over 20% during 2017 – 2022, on account of
growing trend of CKD as well as SKD assembly, rising number of new model
launches, declining average selling price and rising number of high net worth
individuals across the country. Furthermore, growing trend of premium
motorcycle rider communities like Harley Owners Group, G.O.D.S, etc., and increasing
penetration of various international brands in the market is expected to drive India
premium motorcycles market in the coming years.
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Premium Motorcycles Market"
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On the basis of cubic capacity, India premium
motorcycles market has been broadly segmented into three categories, namely, 500–800cc,
800–1600cc and >1600cc. In 2016, 500cc to 800cc premium motorcycle
segment dominated India premium motorcycles market, and the same trend is
expected to continue during the forecast period as well, owing
to competitive pricing and large number of options available in this
segment. The country’s north and south regions are the major demand
generating regions for premium motorcycles owing to growing demand from young
generation in both of these regions coupled with increasing number of
motorcycle clubs and groups in cities like Hyderabad, Chennai, Bangalore,
Delhi, Chandigarh, etc.
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“Over the past few years, inclination of people towards purchasing
premium motorcycles has increased significantly in India, owing to growing
number of international brands entering the market coupled with improving road
infrastructure, rising purchasing power and increasing availability of premium
motorcycles. Moreover, demand for premium motorcycles in the country is
anticipated to increase in the coming years on account of expanding HNWI
population base and growing number of CKD and SKD assembly plants in the
country, which is leading to reduction in the average selling price of premium
motorcycles.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“India Premium
Motorcycles Market By Cubic Capacity, Competition Forecast
& Opportunities, 2022” has analyzed the potential of India
premium motorcycles market, and provides statistics and information on market
sizes, 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 India premium
motorcycles market.
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 full-time
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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