As per industry analysis, the global motorcycle market is set to close in on a valuation of US$ 125 Bn in 2021. Sales of motorcycles are projected to increase at around 4% CAGR during 2021-2031, with the market expanding US$ 181 Bn over the same time period.
Starting with the overview of Motorcycle Market, it presents an overall analysis of the latest trends that are prevalent in the industry. The report begins with the description of the market surroundings and the analysis of the size and forecast of product or service based on regions and applications. In addition to it, the report also introduces the market competitive landscape among the vendors and manufacturers that contribute to the growth of the product or service.
The company profiling and market price analysis in relation to the value chain features is also covered in the report. The data experts have examined and scrutinized the industry trends in the key regions. 2022 has been considered as the base year, with the forecast period extending to 2031.
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Increasing consumer preference for electric and hybrid motorcycles is anticipated to be a major factor driving global market expansion. Demand for affordable and efficient modes of transportation is projected to rise significantly over the coming years, as the middle-class population grows across the world.
Motorcycles and scooters are considered a viable option for the purpose of traveling and commuting. In addition, matured economies have witnessed increase in demand of recreational activities such as off-road trails, track racing, bike stunts, etc. This is expected to spur demand for high-capacity two wheelers.
Key Takeaways from Market Study
- South Asia & Pacific is expected to be the largest market for motorcycles, with a majority of sales coming from India.
- Standard motorcycles are anticipated to register a healthy CAGR of around 4% throughout the forecast period, owing to their fuel efficiency and increased use in daily commuting.
- Rising demand for standard scooters is expected to drive growth of the scooter market, especially in developing countries such as India.
- Europe’s market for motorcycles witnessed a steady CAGR between 2% to 3%, with Germany emerging as a lucrative market.
- The electric motorcycle segment recorded sluggish growth; however, demand for electric two wheelers is expected to rise significantly in the years to come.
“Demand for motorcycles is anticipated to witness significant growth owing to introduction of various new motorcycles and scooters, rising urban population, technological enhancements, increased fuel efficiency, and better affordability,” says a Persistence Market Research analyst.
Market Landscape
The global market is fragmented and the competition is expected to be intense, with key players enjoying a majority of market share. Key market players are opting for new product launches and technological enhancements in order to stay ahead of the competition.
Some of the leading market participants included in this report are
- Triumph Motorcycles Ltd.
- Bajaj Auto Ltd.
- Bavarian Motor Works (BMW) AG
- Ducati Motor Holding S.p.A.
- Eicher Motors Limited
- Harley-Davidson, Inc.
- Hero MotoCorp Ltd.
- Honda Motor Co., Ltd.
- KTM AG
Key Market Segments Covered
By Product
- Motorcycles
- Standard Motorcycles
- Cruiser
- Sports Motorcycles
- Mopeds
- Electric Motorcycles
- Others
- Scooters
- Standard Scooters
- Maxi Scooters
- Enclosed Scooters
- Three-wheeled Scooters
- Electric Scooters
By Technology
- IC Engine Motorcycles
- Up to 150cc Motorcycles
- 151-300cc Motorcycles
- 301-500cc Motorcycles
- Above 500cc Motorcycles
- All Electric Motorcycles
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