India Premium Motorcycles Market to Exhibit CAGR ~30% till 2021, Reports TechSci Research
NEW YORK, November 1, 2016 /PRNewswire/ --
Rising purchasing power, expanding high net worth individual population base, coupled with growing number of domestic assembly plants and declining average selling prices of premium motorcycles to drive India premium motorcycle market through 2021
According to recently released TechSci Research report, "India Premium Motorcycles Market By Segment, Competition Forecast & Opportunities, 2011-2021", the premium motorcycle market in India is forecast to exhibit a CAGR of ~30% during 2016-2021, 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. Moreover, number of HNWI in India increased from 1,56,000 in 2013, to around 200,000 in 2015, and according to World Wealth Report 2016, India ranks 12th in the list of countries across the world with highest number of HNWI population. Furthermore, growing trend of premium motorcycle rider's communities like Harley Owners Group, G.O.D.S, etc., coupled with rising penetration of various international brands in the market and growing young HNWI population to drive the premium motorcycle market in India in the coming years.
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Browse 32 market data Tables and 12 Figures spread through 115 Pages and an in-depth TOC on
"India Premium Motorcycles Market"
India premium motorcycle market can be broadly classified on the basis of engine capacity into 500cc to 800cc, 800cc to 1600cc, and >1600cc segments. In 2015, 500cc to 800cc premium motorcycle segment dominated India premium motorcycle market and is further expected to continue dominate the market during the forecast period, owing to competitive pricing, large number of options available in this segment, coupled with new models launched in CKD assembly plants, thereby reducing its average selling price. 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.
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"Over the past few years, inclination of people towards purchasing premium motorcycles increased significantly, owing to growing number of international brands entering the market, coupled with improving road infrastructure, rising purchasing power, increasing availability of premium motorcycles. Moreover, demand for premium motorcycles in India is further anticipated increase during the forecast period, on account of rising number of CKD and SKD assembly plants in the country, thereby reducing the average selling price of premium motorcycles, coupled with expanding HNWI population base." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Premium Motorcycles Market By Segment, Competition Forecast & Opportunities, 2011-2021", evaluates the future growth potential of premium motorcycles market in India, and provides statistics and information on market structure, consumer behavior and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the India premium motorcycles market.
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