Revving Up: Premium Motorcycle Market on a Steady Climb in India

The Indian two-wheeler industry is accelerating towards the premium motorcycle segment, mirroring trends in other consumer sectors. Crisil Intelligence reports that the market share of premium motorcycles rose to 19% last fiscal, up from 14% in 2019, with volume increasing to 23 lakh units from 19 lakh.

Conversely, the economy motorcycle segment experienced a drop, with market share decreasing to 46% from 62% and volumes shrinking to 56 lakh units from 84 lakh. This decline is primarily due to weak rural demand and rising prices.

Projections indicate the premium motorcycle market share will reach 22% by 2030, driven by macroeconomic improvements and a consumer base with rising disposable incomes. Crisil Intelligence attributes this trend to both increased consumer preference and a broader range of premium models.

(With inputs from agencies.)