The Global Motorcycle Market was valued at USD 119.55 billion in 2021 and is expected to reach USD 231.31 billion by 2029, registering a CAGR of 8.60% during the forecast period of 2022-2029.
Motorcycle Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Demand for Sports Bicycles
The rise in demand for sports bicycles due to increased use of bicycles in trekking and leisure activities is one of the major factors driving the growth of motorcycle market. An increase in the number of cycling events and biking expeditions to difficult terrains, including steep mountain ranges.
- Consumer Inclination towards Electric bikes
The rise in consumer inclination towards electric or e-bikes accelerate the market growth. These bikes are widely adopted as they are smaller in size, provide health benefits and offers higher speed with lesser effort. The surge in requirement of motorcycles for various purposes such as daily transport, and adventure, among others drives the market further.
- Popularity of Cycling Competitions
The rise in popularity of cycling competitions in sporting events further influence the market. The increase in these cycling competitions accelerate the scope of aftermarket tire sales due to the constant need for maintenance services.
Opportunities
Furthermore, incorporation of cutting-edge technologies to enhance safety, luxury, and comfort in motorcycles extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, emergence of anti-lock braking systems (ABS) will further escalate the growth of motorcycle market.
Restraints/Challenges faced by the Motorcycle Market
On the other hand, increased risk of road accidents for motorcyclists is expected to obstruct market growth. The risk of death for motorcyclists is known to be 20 times than that of car occupants. High cost associated with sports bikes is projected to challenge the motorcycle market in the forecast period of 2022-2029.
This motorcycle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
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Global Motorcycle Market Scope
The motorcycle market is segmented on the basis of motorcycle type and energy capacity. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Motorcycle Type
- Adventure
- Cruiser
- Mopeds
- Sports
- Standard
- Touring
Engine Capacity
- Up to 150 CC
- 151-300 CC
- 301-500 CC
- 501-800 CC
- 801-1000 CC
- 1001-1600 CC
- Above 1600 CC
Competitive Landscape and Motorcycle Market Share Analysis
The motorcycle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance.
Some of the major players operating in the motorcycle market are
- Yamaha Motor Co., Ltd. (Japan)
- Suzuki Motor Corporation (Japan)
- Honda Motor Co., Ltd. (India)
- Eicher Motors Limited (India)
- TVS Motor Company. (India)
- H-D or its affiliates. (US)
- Bajaj Auto Ltd. (India)
- Ducati Motor Holding S.p.A (Italy)
- Kawasaki Heavy Industries, Ltd. (Japan)
- Triumph Motorcycles (UK)
- BMW Group (Germany)
- Lifang Technology (Group) Co., Ltd. (China)
- KTM (Austria)
- Polaris Inc. (US)
- Polaris Inc. (US)
Research Methodology: Global Motorcycle Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
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MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Dynamics
Ø Chapter Three: Market Restraint/Challanges
Ø Chapter Four: Market Scope
Ø Chapter five: Market Share Analysis
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