Saudi Arabia LNG Market Assessment, By Infrastructure [LNG Liquefaction Plants, LNG Regasification Facilities, LNG Shipping], By End-use [Power Generation, Industrial, Residential and Commercial, Others], By Region, Opportunities and Forecast, 2017-2031F

Saudi Arabia LNG Market Assessment, By Infrastructure [LNG Liquefaction Plants, LNG Regasification Facilities, LNG Shipping], By End-use [Power Generation, Industrial, Residential and Commercial, Others], By Region, Opportunities and Forecast, 2017-2031F

India premium bikes market is expected to witness a CAGR of 11.67% during the forecast period FY2025-FY2032, growing from USD 237.44 million in FY2024 to USD 574.18 million in FY2032. The market has experienced substantial growth in recent years and is expected to maintain an expansion in the coming years. The premium bikes market in India is growing due to the increasing interest in premium bikes among youngsters, and racing is becoming a new trend in India. In India, racing events such as MotoGP and the World Superbike Championship attract vast young audiences and effectively showcase the capabilities of superbikes, and companies also add amazing speed features and safety enhancements to meet the demands of these enthusiastic riders.

Currently, India is the most populated country, with many youngsters following a passion for superbikes and participating in superbikes events organized by brands. Such bike events influence young customers to buy superbikes and continue their bike racing passion.

For instance, in May 2023, as reported, 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.

Availability of Broad Range of Premium Bikes and Wider Product Portfolio

India's premium bike market is growing due to the availability of a wide range of premium bikes, catering to the diverse needs and passions of Indian customers. Manufacturers are offering more models with various styles, designs, colors, and overall performance levels of premium bikes. Companies offering premium bikes are constantly updating their product portfolios with new features and focusing on the integration of new technology in premium bikes. Many premium bikes now come equipped with advanced technology like improved safety systems for riders, better handling, enhanced fuel efficiency, and overall better performance of the superbike. Features such as ride modes, traction control, and connectivity options enhance safety, performance, and convenience, making premium bikes more appealing to modern riders.

This broad selection and the introduction of innovative features attract more consumers to the superbike market, as people can find a bike that perfectly fits their preferences and riding style. Overall, the variety and improvements in technology make premium bikes more accessible and exciting for riders everywhere.

For instance, in April 2024, Suzuki Motorcycle India Private Limited (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan, announced the launch of 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.

Rising Interest of Millennials and Gen Z for Lavish Brands Premium Bikes

The rising interest among millennials and Gen Z in luxury brands, including premium bikes, is a key factor driving the market's growth. Both generations are increasingly attracted to high-end products that represent status, quality, and luxury lifestyles. Millennials, now in their 20s and 30s, have more disposable income and are looking for unique, lavish experiences on Indian roads and items that reflect their personal rich identity. Many see premium bikes as a way to express their passion for adventure and individuality. Brands like Ducati, BMW, and Kawasaki are popular among this group, as they symbolize a blend of performance and luxury.

Nowadays, the Gen Z generation is starting to explore premium products, including premium bikes as they are particularly attracted to brands that offer innovative features and environmentally friendly options, which align with their values and racing passion. This generation is also easily influenced by social media platforms, which play a significant role in this trend and the buying behavior of customers.

For instance, in September 2024, India Yamaha Motor (IYM) Pvt. Ltd. launched the R15M with a carbon fiber pattern graphic that encapsulates the spirit of top-tier Japanese motorcycle design and engineering. The bike features a 155cc liquid-cooled engine that has been inspired by the venerable R1 and is designed as a SuperSport in line with Yamaha’s Racing DNA. The latest upgrade in R15M aligns perfectly with Yamaha’s ‘The Call of the Blue’ brand campaign.

Indian Companies Accelerate into the Premium Bikes Segment

Indian manufacturers are shifting gears in the superbike market, harnessing advanced engineering and cutting-edge technology to create high-performance premium bike machines. With a focus on precision engineering, aerodynamic designs, and innovative features like advanced ride-by-wire systems and traction control, these companies are producing bikes that rival international brands. As they invest in research and development, Indian brands are enhancing performance and incorporating smart connectivity features, making premium bikes more appealing to tech-savvy riders. The future is electrifying as Indian innovation takes the lead in the high-performance motorcycle arena. Superbikes in the premium bike segment account for over 20% of the market share in India, driven by increasing demand for high-performance motorcycles and the growing appeal of luxury brands.

For instance, in September 2024, Ultraviolet Automotive Pvt. Ltd., an Indian company, introduced the F99 electric superbike in India. This electric superbike comes with a bigger motor and higher speed. Regarding the F99 electric bike, the company is saying that this electric bike is the first such bike in the Indian two-wheeler industry, which can produce twice as much power as the existing bike. This bike has been introduced as a pre-production prototype, which will be launched soon.

Increasing Number of Premium Bike Product Launches in India

The number of premium bikes launched in India is on the rise and continues to attract attention from motorcycle enthusiasts nationwide and fashionable advertising by actors influencing youngsters. Several well-known brands are introducing new models, offering a mix of power, style, and advanced features. These launches cater to a growing demand for high-performance premium bikes as more riders look for thrilling experiences on the road. Indian manufacturers are also stepping up, releasing their own premium bikes that combine local craftsmanship with international standards. This increased competition is not only expanding choices for consumers but also driving innovation in design and technology in the Indian premium bike market.

For instance, in April 2024, Aprilia (Piaggio Vehicles Pvt Ltd), a manufacturer of high-performance motorcycles, has launched an exclusive superbike portfolio in India. it launched four bikes the RSV4 Factory 1100, the RS 660, the Tuono 660, and the highly anticipated Tuareg.

For instance, in July 2024, American Kawasaki Motors Corporation announced its plans to launch the 2024 version of KLX230 S in India. The KLX230 S is powered by a straightforward 233 cc, 2-valve, single-cylinder engine.

Future Market Scenario (2025-2032F)

Increasing interest in racing among Indian youngsters is expected to fuel the market growth, and companies continue to launch new advanced-feature premium bikes, which is promoting the overall premium bikes market in India.

In India, premium bike clubs and groups also influence others by showing premium bike rallies and racing events, which are the main factors in the growth of premium bikes.

The increasing popularity of premium bikes with advanced technology and new bike features is expected to grow the overall market.

Key Players Landscape and Outlook

Significant industry players are making substantial investments in research and development to expand their product offerings, fueling the growth of the superbike market in India. Noteworthy actions include the launch of innovative models, strategic alliances, mergers and acquisitions, and increased collaborations with other companies. These initiatives aim to enhance competitiveness

in a rapidly evolving industry. Manufacturers focus on delivering economically viable products that meet consumer expectations. A prominent strategy within the Indian motorcycle market is the emphasis on local production. By manufacturing bikes domestically, companies can reduce operating costs while catering to the growing demand for custom motorcycles.

For Instance, in July 2022, Suzuki Motorcycle India Pvt. Ltd, launches much-awaited superbike KATANA in India. Motorcycle completely armed with Suzuki Intelligent Ride System (S.I.R.S.) which comes with a variety of advanced electronic control systems. S.I.R.S. features Suzuki Traction Control System (STCS), Suzuki Drive Mode Selector (SDMS), Ride-by-Wire Electronic Throttle System, Low RPM Assist and Suzuki Easy Start System.