Motorcycles market is expected to grow at a CARG of 4% during the forecast period.
The demand for the motorcycle from the young population is expected to drive the growth of the Motorcycle Market in developing countries such as India, the US, Brazil, China, and Mexico. The OEMs are concentrated on manufacturing standard motorcycles mainly of sports designs, due to their high demand. The motorcycle is the newest technology desegregated into the motorcycles to provide smart and intelligent two-wheeler mobility. There several key features in the motorbike such as system upgrade, riding data, alerts and status, chargeable batteries, comfortable riding experience, and safety features are predicted to drive the demand of the global motorcycle market.
This report contains all the information on the global motorcycles market research and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global motorcycles market and forecast to 2027 is also included in the report.
The motorcycle is a two-wheeler vehicle that runs on a motor that is powered by internal combustion engines (ICE) with no pedals. It comprises metallic chassis desegregated with several electronic and mechanical components with an ICE and with a fiber frame. The rise in the expendable income of the middle-class section across the globe has given rise to the growth of the demand for the motorcycle, due to its affordability and suitable modes of transportation.
In the year 2020, the global motorcycle market trend is predicted to have a significant impact due to the outbreak of the covid 19 pandemic. The measures from the government and lockdown due to the covid 19 pandemic have immobilized the retail business of motorcycles across the world. The global pandemic has disturbed the supply chain of motorcycles. Furthermost, the public transport have motivated the consumers in the purchasing the motorcycle in 2020-21.
The competitive landscape of the global motorcycle market analysis is shattered and booming on the major key players. The prime focus of these key players is on launching a huge variety of vehicles in the market, through collaboration with the manufacturer and by investing in the development of high technologies motorcycles.
The rise in the advancement of the technologies and the investment if the various motorcycle manufacturers like BMW, Ducati, Indian Motorcycle, Triumph, Suzuki, HD, and Honda are focusing in the developing countries to set up their base are the key factors of rising in the demand of the global motorcycle market trends.
The global motorcycle market is segmented on the basis of types and countries. Based on the types, the market is segmented into the cruiser, adventure, touring, standard, and sports. On the basis of the cruisers, the Motorcycle Market is segmented into high and wide handlers with better cushioned, upright riding posture with low slung seat that provides the rider with a distinctive stance. Cruiser motorcycles are for long journeys which provide the rider relaxed and less strained muscles.
Based on the standard, the global motorcycle market industry is expected to witness tremendous growth over the forecasting period. These types of bikes are considered as a Darwinism of classical British bikes and universal Japanese bikes. Handlebars and the footpegs are at a standard distance in this bike to provide comfortable rides to the rider. On the basis of sports, the global motorcycle market is predicted to grow due to its speed, lightweight and powerful engines which make these sport bikes performance-oriented motorcycles.
The global motorcycle market has been segmented on the basis of country and types. The detailed analysis of the reports shows the scope of improvement in the market in the upcoming years. India is one of the largest motorcycle manufacturers with Honda, Bajaj, Hero MotoCorp, and TVs. The fast changes in the technologies and the high competitions in the market are likely to drive the market growth
On the basis of the regions, China is predicted to lead the way in the global motorcycle market during the forecast period. China has the hubs of motorcycles due to the uncostliness of labor and the handiness of the raw materials in the country and hence it is the largest manufacturer of motorcycles in the world, followed by India. In the year 2018, china observed a massive decline in the global motorcycle market revenue due to the rise in the demand of the four-wheelers, 14 Million units level were dropped for both sales and production volume.
India is the second-largest market of motorcycles due to some key factors including fuel-efficiency, inexpensiveness, and the low displacements of the bikes. This country has witnessed tremendous growth in the demand of the motorcycle from the rural areas of the country due to the construction of the roads and due to the development of the infrastructure. On the basis of the capacity of the engines, the 51-125cc segments hold the maximum motorcycle market shares, which is about 50% and the 126-250cc segments hold about 52% of the market shares
The following report comprises of –
|Market Size||2030: Significant Value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Country|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Honda Motor Co., Ltd. (Japan), Suzuki Motor Corporation (Japan), Polaris Industries, Inc. (US), Yamaha Motor Co., Ltd. (Japan), Harley-Davidson, Inc. (US), PIERER Mobility AG (Austria), BMW AG (Germany), Kawasaki Heavy Industries, Ltd. (Japan), Triumph Motorcycles (UK), Hero MotoCorp Ltd. (India), Bajaj Auto Ltd. (India), TVS Motor Company (India), Ducati Motor Holding S.p.A. (Italy), Eicher Motors Limited (India)|
|Key Market Opportunities||Improvement for the larger fuel tanks, better mileage, low maintenance cost|
|Key Market Drivers||Demand for the sleep management system, warning system., and alert system to avoid accidents|
Frequently Asked Questions (FAQ) :
The motorcycles market is expected to display 5.73% CAGR from 2020 to 2027.
Rising interest of commuting and wanderlust is the major driver of the motorcycles market.
Lack of standards and changing demands of customers can restrict market growth.
Cruiser motorcycles can lead in market share.
Asia-Pacific can lead in the motorcycles market.
Triumph Motorcycles, BMW AG, Eicher Motors Limited, Kawasaki Heavy Industries, Ltd., Ducati Motor Holding S.p.A., Yamaha Motor Co., Ltd., Polaris Industries, Inc., PIERER Mobility AG, Hero MotoCorp Ltd., Honda Motor Co., Ltd., Harley-Davidson, Inc., Bajaj Auto Ltd., Suzuki Motor Corporation, and TVS Motor Company are key players of the global motorcycles market.