Market Research Report
Growth Opportunities for Adventure Motorcycles in India
|Growth Opportunities for Adventure Motorcycles in India|
Published: May 30, 2022
Frost & Sullivan
Content info: 59 Pages
Delivery time: 1-2 business days
Rapid Digitization, New Model Launches, and Leisure Riding Trend Drive Future Growth Potential
This study analyzes and highlights the growth attributes of the adventure (ADV) motorcycle market in India from 2018 to 2022. For instance, the rapid growth of social media is positioning customers to explore motorcycling trends, products, and activities across regions and brands. Increasing digitization and internet penetration enable potential customers to accelerate the buying process and enhance the experience.
Moreover, population growth among the working-age group (15-59 years) and access to two-wheeler (2W) credit favor ADV motorcycle sales. In India, 2Ws hold immense aspirational value. Customers want to stand out with their 2W, and an ADV motorcycle provides this experience. An increasing trend in leisure riding groups and organized off-road events attract new riders to invest in ADV motorcycles that cater to both daily commuting and leisure off-road riding. However, electric motorcycles are unlikely to evolve and feature similar capabilities to internal combustion engine (ICE) ADV motorcycles at comparable price points until 2026.
The ADV motorcycle market experienced exponential sales in India from 2018 to 2022, and sales will grow during the next 5 years. COVID-19 lockdowns, supply chain issues, and chip shortages caused sales to dip in 2021. ADV model launches in the <500cc segment create opportunities for new ADV business models. Western trends appear to drive new business models, such as privately organized ADV tour packages, online/offline sessions, and group leisure events.