The Indian two-wheeler industry is witnessing a ride towards the premium segment, like other consumer sectors in the country, with the market share of premium motorcycles increasing to 19% last fiscal and expected to touch 22% by 2030, according to Crisil Intelligence.
The market share of premium motorcycles – engine capacity greater than 150 cc – increased to 19% last fiscal from 14% in fiscal 2019, with their volume rising to 23 lakh units from 19 lakh units, it said in a statement.
On the other hand, the market share of economy motorcycles declined to 46% last fiscal from 62 per cent in fiscal 2019, with volume shrinking to 56 lakh units from 84 lakh units, largely due to weak rural demand and an increase in prices, it added.
Interestingly, premium motorcycle sales surpassed the pre-Covid level by 22% last fiscal, while sales of overall two-wheelers stood at 94% of the pre-pandemic level and total motorcycles at 90%, it added.
