India Superbike Market Chase to Become Three Fold by 2017
Global premium motorcycle brands setting footsteps in the Indian market along with growing HNI base would drive magnificent growth in Indian superbikes market.
Since the launch of the first superbike in India in the year 2007, super bike or premium bike is everybody’s dream. But very few people are able to possess such high priced bikes. Superbike giant players such as Yamaha, Honda, Suzuki, Ducati and the American superbike maker Harley Davidson, have been successful in influencing a set of people aspiring to own a super bike in India, with their speedy machines.
According to recently published report by TechSci Research “India Premium Motorcycles Market Forecast and Opportunities, 2017” The demand for these super machines in India is emerging not only from the metropolitan cities such as Delhi, Mumbai, Bangalore and Pune, but even from the smaller cities such as Indore, Coimbatore, Chandigarh, etc. The number of units sold of these super bikes in India merely stood at 200 in the year 2009, since then, it has been on a sky rocketing height. This segment of bikes is considered to be an extremely niche segment and every unit sold makes a lot of difference in the sales strategies. Though, manufacturers have been surprised by the reported numbers of units sold of super bikes in non metropolitan cities, the metropolitan cities are still leading the sales charts. In the Indian Premium Motorcycle Market, Maharashtra accounted for 25% of the total units sold, followed by Karnataka and Delhi which accounted for 20% and 17% respectively in 2011.
More and more premium motorcycle companies are approaching the Indian market and are working hard to make their stand prominent with their new and belligerent bike models. Young Indian enthusiasts are true bike lovers who feel that these premium products enhance their personality, status and provide true adrenaline based driving thrill. “Companies are strategically working to gain momentum in this premium motorcycles market, where quality and price are unidirectional in line with the available international brands. Volumes of these bikes are boosted each time these are showcased in any of the performances at social level, as in the case seen in the Hindi movie Dhoom or the famous English movie Torque” said Karan Chechi, Research Director with TechSci Research.
During 2009-2011, the Indian Premium Motorcycle market revenues have been growing at a CAGR of 215%, which is an eye opener for the new companies aspiring to enter into this lucrative market. This figure is further expected to become three fold by the year end 2017, where companies would cash out some profits from these huge sales figures.
“India Premium Motorcycles Market Forecast and Opportunities, 2017” gives detailed and unprejudiced overview on the premium motorcycles or superbikes in India. This report helps reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in the coming years. The report will help industry consultants, superbike manufacturers and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.