Motorcycles Industry Overview:
Global MotorcyclesMarket size is expected to reach 43.4 Million units by 2025, at a CAGR of5.73% during the forecast period.
The report covers segmentationand drivers for a better glimpse of the market in the coming years. The growthof the motorcycles market is attributed to the rising disposable income levelsof the middle-class population across the globe, and the demand for affordableand convenient modes of transportation. OEMs are focused on manufacturingconventional motorcycles, especially sports designs, as the demand from theyoung population dominates the demographics of major markets such as China,India, the US, Brazil, and Mexico.
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Competitive Analysis
Some of the key industryparticipants of the global motorcycles market are Suzuki Motor Corporation(Japan), Polaris Industries, Inc. (US), Honda Motor Co., Ltd. (Japan), YamahaMotor Co., Ltd. (Japan), Harley-Davidson, Inc. (US), PIERER Mobility AG(Austria), BMW AG (Germany), Kawasaki Heavy Industries, Ltd. (Japan), TriumphMotorcycles (UK), Hero MotoCorp Ltd. (India), Bajaj Auto Ltd. (India), TVSMotor Company (India), Ducati Motor Holding S.p.A. (Italy), and Eicher MotorsLimited (India). The global motorcyclesindustry is highly fragmented, with the presence of a high number ofmarket players. The market has a huge scope for improvement in the comingyears. Motorcycle manufacturers, dealers, distributors, and retailers haveopportunities to increase their efficiency through the adoption and integrationof advanced analytics and business intelligence. The manufacturers/serviceproviders are operating at the regional level. The players are adoptingbusiness strategies such as mergers & acquisitions, product development,partnerships, joint ventures, and expansions to improve their positions in themarket, both regionally and globally.
Suzuki Motor launched its firstBS-6 compliant GIXXER series motorcycles in India. The BS-6 compliant 155ccGIXXERs will be the first offering by SMIPL in the BS-6 motorcycles category.
Honda revealed its 2020European motorcycle line-up CBR1000RR-R Fireblade and CBR1000RR-R Fireblade SP.Their most powerful inline four-cylinder engines power these bikes. The 2020CBR1000RR-R Fireblade delivers a maximum power output of 160kW at 14500rpm.
Honda unveiled a premium BSVI2-Wheeler, the Activa 125 Sparks. It is equipped with the Honda ACG starter,programmed fuel injection (PGM-FI), and other unique features.
Segmental Analysis
The global market formotorcycles is segmented based on type and country. By type, the global marketis divided into adventure, cruiser, sports, standard, and touring. The standardsegment is expected to register considerable growth over the projectedtimeframe. Standard motorcycles are often termed as naked motorcycles and havebeen prevailing in the market for decades. A standard bike is an evolution ofuniversal Japanese motorcycles and classic British bikes. These bikes combinean upright seating position with the handlebar and footpegs placed at acomfortable distance away from the rider.
Regional Analysis
A geographic analysis of theglobal motorcycles market has been conducted for China, the US, India, Mexico,and Brazil.
China accounted for asignificant market share in 2019. The country is recognized as one of theprominent motorcycle-manufacturing hubs owing to affordable labor and theavailability of raw materials. Although the popularization of four-wheelvehicles continues in China, the motorcycles market is witnessing a gradualdecline yearly, dropping below the 14-million-unit level for both productionand sales volumes in 2018. Looking at production volumes by enginedisplacement, the market for the 125cc and below segment is either flat orshrinking and is increasing for motorcycles with displacements of 125cc andabove. The Guangdong and Zhejiang provinces and Chongqing city in the Chongqingmunicipality are among the prime manufacturing locations in China. One of thefactors boosting the growth of the motorcycles market in China is the ban onelectric bikes to maintain smooth traffic flow and ensure the safety ofpedestrians. Also, government regulations favoring the adoption of lightweightmotorcycles and discouraging the use of electric scooters and three-wheeledtrikes have encouraged motorcycle manufacturers to enter the Chinese market.
In 2019, India held thesecond-largest share of the global motorcycles market. The Indian motorcyclesmarket is largely characterized by inexpensive, fuel-efficient, andlow-displacement bikes. The country has witnessed an unprecedented demand formotorcycles from rural areas, owing to new infrastructural developments and theconstruction of paved roads. India is one of the world’s largest market formotorcycles, with Honda, Bajaj, Hero MotoCorp, and TVS being the most preferredmotorcycle manufacturers.
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