Until 2011, due to high duty levied on |
Motorcycles Market Forecast & |
imported premium motorcycles in India, |
Opportunities, 2020”, India premium |
their reach was limited to the affluent |
motorcycles market is projected to grow |
class. However, with the entry of |
at a CAGR of over 27 % during 2015-20. |
multiple international brands such as |
Rising number of high net worth |
Harley Davidson, Triumph, Hyosung and |
Individuals coupled with an increasing |
many others, India’ s premium |
number of premium motorcycle players |
motorcycles market witnessed a major |
focusing on setting up domestic |
turnaround with rapid increase in |
production or assembly units in India |
demand for premium motorcycles over |
are the major factors expected to drive |
the last three years. The country’ s high |
the country’ s premium motorcycles |
net worth individuals and upper |
market over the next five years. In 2014, |
middleclass section of the population |
Southern India comprising Hyderabad, |
was further lured with the introduction |
Chennai, Kerala, Bangalore, etc. |
of low priced domestically assembled |
dominated the India premium |
premium motorcycles, thereby boosting |
motorcycles market, followed by |
premium motorcycle sales in India. With |
Northern India. Harley Davidson Motor |
the trend of launching new motorcycle |
Company dominated the premium |
models at comparatively lower price |
motorcycles market in India in 2014, |
tags by leading global players gaining |
however, on account of recent entry of |
increasing traction, the India premium |
other global giants such as Triumph |
motorcycles market is expected to grow |
Motorcycles, Indian Motorcycles and |
at a brisk pace through 2020. |
Benelli in India, Harley is expected to |
According to recently published TechSci |
face stiff competition in the coming |
Research report“ India Premium |
years. |
Increasing demand for premium |
completely built units( CBU’ s), which |
motorcycles by high net-worth |
used to result in imposition of heavy |
individuals coupled with upcoming |
custom duty, thereby restricting the |
domestic assembling plants to drive |
demand for premium motorcycles in the |
India premium motorcycles market. |
country. However, with lower import |
According to recently released TechSci |
duties on account of setting up of |
Research report,“ India Premium |
domestic assembling units by global |
Motorcycles Market Forecast and |
premium motorcycles manufacturers |
Opportunities, 2020’’, premium |
like Harley Davidson, Kawasaki and |
motorcycles market in India is forecast |
Hyosung, the premium motorcycles |
to grow at a CAGR of more than 27 % |
market in India has witnessed a |
CAGR during 2015-20 on account of |
complete turnaround. |
declining premium motorcycle prices |
The market penetration of premium |
and launch of new premium motorcycle |
motorcycles has been witnessing a |
variants. Prior to 2011, premium |
continuous increase among high net |
motorcycles were imported in India as |
worth individuals in the country. |