Premium motorcycle can be defined as a two-wheeled motorcycle with engine over 500cc mounted in the frame, with a fuel tank above it, and a manual clutch and gear system. Market for premium motorcycles in India grew at a significant pace over the past few years, on account of rising inclination of people towards premium motorcycle, coupled with increasing penetration of international premium motorcycle companies such as Harley Davidson, Ducati, Triumph, etc., in the Indian market. Moreover, various companies are launching new motorcycle model in India, which offers consumers with more option to choose from. Companies operating in India premium motorcycle market have also established their domestic assembly units in India, which has led to decline in the average selling price of premium motorcycles in the country. Furthermore, growing number of clubs and group for premium motorcycle riders are further expected to drive India premium motorcycle market during the forecast period.
According to the report, “India Premium Motorcycles Market By Segment, Competition Forecast & Opportunities, 2011-2021”, premium motorcycle market in India is projected to exhibit a CAGR of ~30% during 2016-2021, on account of growing trend of CKD and SKD assembly, launch of new model, coupled with declining average selling price and rising number of high net worth individual. India premium motorcycle market was dominated by southern and northern regions in 2015, and they are further expected to continue to dominate the market during forecast period as well, owing to growing demand for premium motorcycles, coupled with increasing number of motorcycle clubs and groups in cities like Hyderabad, Chennai, Bangalore, Delhi, Chandigarh, etc. Moreover, 500cc to 800cc premium motorcycle dominate the premium motorcycle market in 2015, and are further anticipated to maintain their dominance in the coming years, on account of competitive pricing, large number of options available, coupled with coupled with new models launched in CKD assembly plants, thereby reducing its average selling price.