The world is now feeling the rumble as made-in-India bikes earn accolades and admirers in international markets.
By Dr. Samir Kapur author of “When India Votes”
India’s two-wheeler market is no longer just big in volume terms; it’s a high-octane pursuit of premium perfection. With a staggering 18 million units sold in 2022, the country claims the crown as the world’s largest two-wheeler market. But that’s not all – the engine of potential is still roaring, hinting at even greater heights.
Buckle up for the thrill, as the Indian two-wheeler landscape shifts gears like never before. Gone are the days of monotonous small-capacity bikes. The winds of change are sweeping through, making way for the rise of the premium segment.
The revival is relentless! Despite the global pandemic’s hurdles, the demand for high-end motorcycles is blazing a comeback trail. ‘Revenge’ shopping, rekindled tourism, and an unwavering passion for biking enthusiasts are steering the market towards power and style. Gone are the days of settling for practicality and efficiency; riders crave an unparalleled experience.
Witness the ascent of the premium segment in FY 2023, capturing an impressive 18% market share while entry-level bikes still hold their ground at 51%. This revolution is rewriting the narrative of India’s two-wheeler market.
An Explosion of Luxury
The luxury two-wheeler market in India has witnessed an explosion of sorts. It’s a comeback story like no other. In the face of the pandemic’s challenges, high-end bikes have emerged triumphant, defying all odds. The allure of the premium segment has never been stronger.
The growth has been meteoric, driving India’s two-wheeler industry to uncharted territory. While overall growth saw a momentary slowdown in 2019, the pandemic ignited an unexpected surge in the luxury lane. As people sought personal mobility and freedom, the demand for premium motorcycles skyrocketed, shattering all expectations.
The market now revels in its prowess, reaching an astounding 18 million units sold in 2022. But the race is far from over. Projections point to an extraordinary leap to 48.1 million units by 2028, an unprecedented expansion that has the entire industry on the edge of its seat.
Brands Accelerating the Pace
Leading the pack is TVS Motor Company, shifting gears and doubling their premium motorcycle portfolio from 8% in FY14 to an impressive 16% in FY22. They’ve taken centre stage, showcasing the potential of high-end bikes.
But they’re not alone. The luxury market is drawing every major player to the forefront. The industry giants have shifted their focus and invested heavily in elevating their premium ranges. Hero, Bajaj, Honda, and others are unleashing a barrage of offerings that cater to the diverse desires of contemporary riders.
Racing with Global Alliances
In the fast lane, alliances with global giants are propelling brands to new heights. The partnerships between Hero-Harley Davidson, Bajaj-KTM, and TVS-BMW Motorrad are rewriting the rules and setting global benchmarks in design and technology. This convergence of expertise is driving the creation of cutting-edge, high-performance motorcycles that are captivating riders worldwide.
The Thrill of Experiential Marketing
The race isn’t just on the road; it’s in the minds of consumers. Brands are vying for pole position with strategies that promote their premium motorcycles as symbols of status and prestige. The thrill is real, and experiential marketing and motorsports are turning emotions into a tangible reality.
Conquering Global Markets
India’s luxury two-wheelers are not just racing on domestic roads; they are conquering global markets too. As India emerges as a manufacturing hub for premium motorcycles, the echoes of its engine are being heard worldwide. The world is now feeling the rumble as made-in-India bikes earn accolades and admirers in international markets.
So, ready your gear and hold on tight! The road ahead is an adrenaline-pumping ride, and the Indian two-wheeler market is revving into the premium segment with unparalleled power and style. Get set for the ride of a lifetime!
There has never been a better time for the motorcycling enthusiast in India.