Report Overview

India Premium Bikes Market – Industry Trends & Forecast Report, 2030

India Premium Bikes Market size by value was estimated at USD 14.2 billion in 2023. During the forecast period between 2024 and 2030, India Premium Bikes Market size is expected to expand at a CAGR of 6.30% reaching a value of USD 21.2 billion by 2030. The premium motorcycle market in India is thriving due to increased urbanization, a growing middle class, and favorable demographics, particularly a higher youth population. Over 75% of new model launches by Original Equipment Manufacturers (OEMs) are in the premium segment, offering diverse options for buyers. Both home-grown brands (Royal Enfield, TVS Motor, Bajaj, and Hero) and global players (Yamaha, Suzuki, and Honda) are enhancing their presence, especially in the middle-weight category, to attract younger consumers.

Premium Bikes – Overview

Premium bikes are high-performance motorcycles, typically with engine capacities above 150cc, designed for superior speed, handling, and riding experience. They feature advanced engineering, high-quality materials, and cutting-edge technology. These bikes cater to enthusiasts seeking performance, style, and exclusivity, often commanding higher prices and offering enhanced features compared to standard motorcycles.

India Premium Bikes Market

Growth Drivers

Rising Disposable Incomes Drive India Premium Bikes Market

India Premium Bikes Market is significantly driven by rising disposable incomes. As the middle class expands and earnings increase, consumers have more financial capacity to invest in premium bikes. The shift enables individuals to prioritize performance, luxury, and advanced features in their vehicle choices. The growing affordability leads to heightened demand for high-performance motorcycles, encouraging manufacturers to launch a diverse range of premium models. This surge in disposable incomes not only boosts sales but also fosters a culture of biking enthusiasts and supports the growth of premium bike communities across the country.

Challenges

High Costs Than Mass Market Motorcycles

India Premium Bikes Market faces a significant restraint due to high costs of premium motorcycles compared to mass market options. These bikes, often packed with advanced features, superior performance, and high quality materials, come with a price tag that can be a deterrent for many potential buyers. This cost disparity limits the consumer base, as not all motorcycle enthusiasts can afford the higher prices. Consequently, this financial barrier affects market penetration and overall sales growth, particularly in price-sensitive segments of the population.

Impact of Escalating Geopolitical Tensions on India Premium Bikes Market

Intensifying geopolitical tensions among countries and spreading across the major regions could significantly impact the growth of India Premium Bikes Market. Economic, political, and trade tensions could disrupt global supply chains, leading to shortages of raw materials and components essential for manufacturing premium bikes. Increased costs of imported parts and materials can raise production expenses, making premium bikes more expensive for consumers. Additionally, political instability can deter foreign investments and affect consumer confidence, resulting in reduced spending on high end motorcycles. Trade restrictions and sanctions can further complicate the import of advanced technologies and components, hindering market growth.

India Premium Bikes Market

Segmental Coverage

India Premium Bikes Market – By Type

Based on type, India Premium Bikes Market is divided into Sports Bikes, Cruiser Bikes, Adventure & Touring Bikes, and other segments. The sports bikes segment holds the largest share among Sports Bikes, Cruiser Bikes, and Adventure & Touring Bikes. The dominance of sports bikes segment is driven by a strong preference among Indian consumers, particularly younger riders, for high performance, stylish bikes that deliver speed and agility. Sports bikes are seen as aspirational, often linked with popular motorcycling brands, advanced technology, and a superior riding experience. Additionally, the segment benefits from an expanding enthusiast community, promotional events, and increased disposable income, making it a top choice in India Premium Bike Market.

India Premium Bikes Market – By Engine Capacity

On the basis of engine capacity, India Premium Bikes Market is divided into 250cc to 500cc, 500cc to 800cc, and 800cc and above segments. The 250cc to 500cc segment is the largest in India Premium Bikes Market by engine capacity. The segment appeals to a wide range of consumers, particularly those seeking a balance between performance and affordability. Bikes in this category provide an entry point into the premium market with manageable power, appealing especially to young riders and urban commuters. The 250cc to 500cc segment benefits from high demand due to its practicality for daily use, competitive pricing, and growing popularity of adventure and cruiser bikes within this range, making it the dominant choice among premium bike buyers in India.

India Premium Bikes Market – By Distribution Channel

By distribution channel, India Premium Bikes Market is bifurcated into Online and Offline segments. The offline segment holds a larger share of India Premium Bikes Market by distribution channel. Consumers often prefer purchasing premium bikes in person due to the significant investment involved, which allows them to physically inspect the models, experience test rides, and consult with sales representatives directly. This hands-on approach provides a sense of assurance and confidence in their purchase, as customers can verify the bike's quality, performance, and features. Additionally, premium bike showrooms often offer personalized services and exclusive in-store experiences, enhancing customer satisfaction and reinforcing the preference for offline channels over online platforms.

India Premium Bikes Market – By End User

Based on end user, India Premium Bikes Market is divided into Leisure & Adventure Enthusiasts, Sports Enthusiasts, and Daily Commuters segments. The sports enthusiasts segment is the largest end user of India Premium Bikes Market. The segment comprises riders drawn to high-performance and luxury bikes that offer advanced speed, technology, and handling capabilities. Increased disposable income, the rise in urbanization, and a growing passion for sports and performance biking among younger consumers drive this segment's popularity. Additionally, major bike manufacturers are expanding their offerings in this space, providing a range of models that appeal to sports-focused consumers. Enthusiasm for bike racing and track events further supports demand, making this segment dominant in India Premium Bike Market.

India Premium Bikes Market – By Region

Geographically, India Premium Bikes Market is divided into North India, South India, East India, and West India regions. South India is the leading region of India Premium Bikes Market. The region, with its growing urbanization, higher disposable incomes, and increasing demand for high-performance motorcycles, plays a significant role in India Premium Bike Market. Cities like Bangalore, Chennai, and Hyderabad have seen a rise in the number of affluent consumers who prefer luxury and performance-oriented motorcycles. Additionally, the availability of premium bike dealerships and a strong biking culture contribute to the dominance of South India in this market. This trend is further supported by the region's favorable weather and lifestyle.

Competitive Landscape

Key players in the highly competitive India Premium Bikes Market include Hero MotoCorp Ltd, India Kawasaki Motors Pvt Ltd, Piaggio Vehicles Pvt Ltd, Honda Motorcycle & Scooter India Pvt Ltd, Suzuki Motorcycle India Pvt Ltd, Triumph Motorcycles India Pvt Ltd, BMW India Pvt Ltd, Yamaha Motor India Pvt Ltd, Harley-Davidson, Inc., and Ducati India Pvt Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In April 2024 - Suzuki Motorcycle India Private Limited (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan, launched the Suzuki Hayabusa 25th Anniversary Celebration Edition in India. It features a gold anodized brake inner rotor, special V-shaped decal, single seat cowling with the same 1340 cc inline 4-cylinder fuel-injected liquid-cooled DOHC engine found in the latest third-generation Hayabusa.

• In May 2023 - Ducati India Pvt Ltd launched the all-new Monster SP sports bike in India, crafted for youngsters to capture the growing market of adventurous bike riding.

Scope of the Report

By Type

• Sports Bikes

• Cruiser Bikes

• Adventure and Touring Bikes

• Others

By Engine Capacity

• 250cc to 500cc

• 500cc to 800cc

• 800cc and above

By Distribution Channel

• Online

• Offline

By End User

• Leisure & Adventure Enthusiasts

• Sports Enthusiasts

• Daily Commuters

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Premium Bikes Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising disposable incomes
         2. Changing consumer preferences
         3. Government initiatives and supportive policies including infrastructure development and relaxed import duties
      2. Restraints
         1. High costs than mass-market motorcycles
         2. Poor road conditions and limited parking facilities in urban areas
      3. Opportunities
         1. Offering customization options and high-quality aftersales services
         2. Growing interest in electric vehicles
         3. Fostering a strong biking community through events and clubs
      4. Challenges
         1. Intense Competition with both domestic and international players
         2. Stringent emission and safety norms
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Premium Bikes Market: Marketing Strategies
5. India Premium Bikes Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
         1. Sports Bikes
         2. Cruiser Bikes
         3. Adventure and Touring Bikes
         4. Others
      2. By Engine Capacity
         1. 250cc to 500cc
         2. 500cc to 800cc
         3. 800cc and Above
      3. By Distribution Channel
         1. Online
         2. Offline
      4. By End User
         1. Leisure and Adventure Enthusiasts
         2. Sports Enthusiasts
         3. Daily Commuters
      5. By Region
         1. North India
         2. South India
         3. East India
         4. West India
6. North India Premium Bikes Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Engine Capacity
      3. By Distribution Channel
      4. By End User
7. South India Premium Bikes Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Engine Capacity
      3. By Distribution Channel
      4. By End User
8. East India Premium Bikes Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Engine Capacity
      3. By Distribution Channel
      4. By End User
9. West India Premium Bikes Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Engine Capacity
      3. By Distribution Channel
      4. By End User
10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Premium Bikes Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operation Channel Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
11. Impact of Escalating Geopolitical Tension in India Premium Bikes Market
12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Hero MotoCorp Ltd
    2.  India Kawasaki Motors Pvt Ltd
    3. Piaggio Vehicles Pvt Ltd
    4. Honda Motorcycle & Scooter India Pvt Ltd
    5. Suzuki Motorcycle India Pvt Ltd
    6. Triumph Motorcycles India Pvt Ltd
    7. BMW India Pvt Ltd
    8. Yamaha Motor India Pvt Ltd
    9. Harley-Davidson, Inc.
    10. Ducati India Pvt Ltd
    11. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1       India Premium Bikes Market Segmentation            

Figure 2       India Premium Bikes Market Value Chain Analysis  

Figure 3       Company Market Share Analysis, 2023                                               

Figure 4       India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Figure 5       India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 6       India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Figure 7       India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 8       India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030

Figure 9       India Premium Bikes Market Share, By Region, By Value (USD Billion) 2019–2030

Figure 10     North India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Figure 11     North India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 12     North India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Figure 13     North India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 14     North India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030

Figure 15     South India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Figure 16     South India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 17     South India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Figure 18     South India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 19     South India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030

Figure 20     East India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Figure 21     East India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 22     East India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Figure 23     East India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 24     East India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030

Figure 25     West India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Figure 26     West India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 27     West India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Figure 28     West India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 29     West India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030                                       

List of Tables    

Table 1        India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Table 2        India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Table 3        India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Table 4        India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 5        India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030

Table 6        India Premium Bikes Market Share, By Region, By Value (USD Billion) 2019–2030

Table 7        North India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Table 8        North India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Table 9        North India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Table 10      North India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 11      North India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030

Table 12      South India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Table 13      South India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Table 14      South India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Table 15      South India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 16      South India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030

Table 17      East India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Table 18      East India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Table 19      East India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Table 20      East India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 21      East India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030

Table 22      West India Premium Bikes Market Size, By Value (USD Billion), 2019–2030

Table 23      West India Premium Bikes Market Share, By Type, By Value (USD Billion) 2019–2030

Table 24      West India Premium Bikes Market Share, By Engine Capacity, By Value (USD Billion) 2019–2030

Table 25      West India Premium Bikes Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 26      West India Premium Bikes Market Share, By End User, By Value (USD Billion) 2019–2030                                       

Table 27      Hero MotoCorp Ltd Company Overview

Table 28      Hero MotoCorp Ltd Financial Overview

Table 29      India Kawasaki Motors Pvt Ltd Company Overview

Table 30      India Kawasaki Motors Pvt Ltd Financial Overview

Table 31      Piaggio Vehicles Pvt Ltd Company Overview

Table 32      Piaggio Vehicles Pvt Ltd Financial Overview

Table 33      Honda Motorcycle & Scooter India Pvt Ltd Company Overview

Table 34      Honda Motorcycle & Scooter India Pvt Ltd Financial Overview

Table 35      Suzuki Motorcycle India Pvt Ltd Company Overview

Table 36      Suzuki Motorcycle India Pvt Ltd Financial Overview

Table 37      Triumph Motorcycles India Pvt Ltd Company Overview

Table 38      Triumph Motorcycles India Pvt Ltd Financial Overview

Table 39      BMW India Pvt Ltd Company Overview

Table 40      BMW India Pvt Ltd Financial Overview

Table 41      Yamaha Motor India Pvt Ltd Company Overview

Table 42      Yamaha Motor India Pvt Ltd Financial Overview

Table 43      Harley-Davidson, Inc. Company Overview

Table 44      Harley-Davidson, Inc. Financial Overview

Table 45      Ducati India Pvt Ltd Company Overview

Table 46      Ducati India Pvt Ltd Financial Overview