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 per cent last fiscal and expected to touch 22 per cent by 2030, according to CRISIL Intelligence. The market share of premium motorcycles -- engine capacity greater than 150 cc -- increased to 19 per cent last fiscal from 14 per cent 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 per cent 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 per cent last fiscal, while sales of overall two-wheelers stood at 94 per cent of the pre-pandemic level and total motorcycles at 90 per cent, it added. The market share of premium motorcycles is expected to climb to around 22 per cent by fiscal 2030. The improvement will ride on favourable macroeconomic trends, increasing disposable incomes, rising global exposure of consumers and a youthful demographic, CRISIL Intelligence said. Commenting on the trend, CRISIL Intelligence Director, Pushan Sharma said, “The demand-side spurs for premium motorcycles include a growing preference for these products from buyers with healthy incomes who maintained their purchasing power even during the pandemic.” Shama further said, “On the supply side, it is the expanded range of options available to consumers. For the record, the number of motorcycle models available in the premium segment increased to 35 last fiscal from 23 in fiscal 2019. We anticipate these trends to persist through the next five years.”