Motorcycles Market Research Report - Global Forecast till 2027

Motorcycles Market Research Report: Information By Type (Adventure, Cruiser, Sports, Standard and Touring) and Country - Forecast till 2027

ID: MRFR/AM/8739-CR | October 2020 | Region: Global | 118 pages

Motorcycle Market Overview:


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.


Covid 19 Analysis


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.


Competitive landscape


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.


Major Key Players



  • 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).


Market Dynamic


Drivers


  • Based on the reports, the World Health Organization (WHO), more than half of the road traffic accidents are increasing among the road users such as motorcyclists, pedestrians, and cyclists.

  • The driver segments of the motorcycle market are predicted to be the second influencing segment due to the rise in the demand for the sleep management system, warning system., and alert system to avoid accidents in the motorcycle. These systems are to ease the driving experience of the end-users and to provide a comfortable ride. The market is expected to witness a tremendous motorcycle market growth


Opportunities


  • The improvement for the larger fuel tanks, better mileage, low maintenance cost are some key feature which is likely to boost the market growth of global motorcycle market and these factors are also creating opportunities for the amplification of the market in the near future.


Restraints


  • The main focus of the key players in the global motorcycle market outlook is the higher ranking performance of the bikes and the shift of the demands of the consumers to the premium motorcycles are increasing the growth of the global motorcycle market. However, the absenteeism of the connected standards and the lack of infrastructure in providing a uniform platform are likely to hamper the growth of the global motorcycle market.


Challenges


  • The major challenge face by the global motorcycle market is shifting in the demand of the industries dynamics. The pattern of consumption is shifting from motorcycle to gearless scooters, which is likely to create a hurdle in the growth of the global motorcycle market.


Cumulative Growth Analysis


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.


Value Chain Analysis


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.


Segmentation Overview


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


By Application



  • Based on the application, the Motorcycle Market is segmented into wide handlers with better cushion and upright postures in standard motorcycles


By end-users


  • Based on the propulsion types, the Motorcycle Market is segmented into four types’ cruiser, adventure, touring, standard, and sports


Regional Analysis

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


Report Overview

The following report comprises of –



  • Market overview 

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints 

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview 

  • By Application 

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments



  • Bajaj Auto Limited has launched DTS-I, full LED headlamps with vertical auto headlamps, twin projector headlamp and many more in their new large scale range of equipment of the motorcycle

  • Red Bull KTM Factory Racing’s Tom Vialle has been awarded in 2020 FIM MX2 motocross world champion. The company is expected to plan in investing more to launch advanced products in the coming years


Motorcycle Type



  • Adventure

  • Cruiser

  • 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


Region



  • North America

  • Latin America

  • Europe

  • The Middle East and Africa (MEA)

  • East Asia

  • South Asia

  • Oceania



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   4% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  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.