Press Release

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"

https://www.techsciresearch.com/report/india-premium-motorcycles-market/1442.html


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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