Motorcycle Market
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| Base Year: | 2021 | Forecast Period: | 2022-2030 |
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| Market Segmentation: |
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| Key Players: |
Yamaha Motor Co., Ltd., Suzuki Motor Corp., Honda Motor, Hero Motor, Eicher Motors, Harley Davidson Motor, Ducati, Kawaski, Triumph Motorcycles, Bayerische Motoren Werke (BMW) AG, Polaris Industries Inc. and among others |
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| Key Dynamics: |
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| Market Size: | US$ 530.0 Bn by 2030 | CAGR (2021 -2028): | 6.4% |
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Motorcycle Market Overview
The report is titled ‘Motorcycle Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual Motorcycle Works, analytical approaches of the Motorcycle market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The Motorcycle market is expected to grow at a significant rate in the near future.
The global motorcycle market is expected to reach at a value of US$ 530.0 Bn by 2030 end at a CAGR of 6.4%
Motorcycle Introduction
A motorcycle, also popularly known as bike or motorbike, is basically a two-wheeled motor vehicle equipped with an internal-combustion engine that propels the vehicle and other multiple electric and mechanical elements. The motorcycle is designed in several different ways as per different applications including long-distance travel, cruising, commuting, racing and other sports activities as well as off-road riding.
Moreover, after the rapid evolution and the constant advances in the automotive industry, the key manufacturers of the market focused on the improvement in various attributes of the motorcycle, such as improved mileage, air-cooled engines, larger fuel tanks, unique horns, bucket seats and many more innovative features.
Motorcycle Market Dynamics
One of the major factors that is primarily driving the demand of motorcycles all across the markets is the rising demand for affordable and efficient modes of transportation which is predicted to elevate the market growth significantly over the forthcoming years as the worldwide middle-class population is proliferating tremendously.
Motorcycles are progressively being observed as a reliable and reasonable alternative, and therefore, demand for scooters and motorcycles is projected to rise over the years. In addition to that, the key players of the market, witnessing the soaring demand worldwide, are constantly focusing on equipping motorbikes and scooters with various advanced leading-edge technology further enhancing the comfort and safety of the users. Such factors are further playing a significant role in propelling the growth of the global motorcycle market.
Moreover, the latest models of motorbikes with advanced technologies are swiftly appealing to the young consumers worldwide, thereby estimated to accelerate the market growth in the following years. Furthermore, in the present day’s contemporary world, the trend of electric vehicles has risen considerably to have numerous benefits over conventional motorcycles owing to a range of beneficial properties such as quiet operations, fuel efficiency, and negligible noise. Said factors are further projected to offer significant growth to the global motorcycle market over the coming years.
Motorcycle connoisseurs can point out millions of reasons for their zeal and passion for two-wheels. Every motorcycle enthusiast has their own personal tale about why they ride. Amongst these, are overall cost/fuel efficiency, camaraderie, eco-friendly attributes, the connotation of adventure, the comfort of parking, the potential to ride through traffic as well as the entire image. In recent days, more and more people have understood that motorcycles are less about their feasibility and practicality as a substitution vehicle. On the contrary, they have transformed into lifestyle vehicles for freedom on the road as well as recreational purposes. If one is looking to go about town in a smaller vehicle, he is likely to want to prefer motorcycles as a transport alternative. In the same vein as pedal bikes, they are remarkably simple to fit into insignificant spaces which makes them convenient to park away in the garage in a secure place. It is also simple to find parking for the motorcycle and an individual can generally drive on smaller paths and roads if one is in a rural area. Moreover, motorcycles are prompt to get going and head to a local store and they are reliable when one just needs to travel a short distance.
Other than that, motorcycles are the absolute white canvas for an individual to add their own favorite and personalized customizations. Either it is a custom paint job, unique wheels or vinyl decals, there are innumerable range of options for one to personalize their bike. In addition, there are also numerous tuning options available to dive in for high-end motorcycles. In fact, in present times, there is no chance two bikes can look the same thanks to the whole lot of alternatives available. Thus, the soaring adoption of motorcycles as an affordable and personal transport is projected to primarily drive the market growth of motorcycles over the following years.
Motorcycle Market Segmentation
The global motorcycle market is segmented on the basis of type, routing mode type, engine capacity, engine type, bore size, price range, technology and region.
By Type
Adventure
Cruiser
Mopeds
Sports
Standard
Touring
By Routing Mode Type
Off Road
On Road
By Engine Capacity
Up to 150 CC
151-300 CC
301-500 CC
501-800 CC
801-1000 CC
1001-1600 CC
Above 1600 CC
By Engine Type
2 Stroke
4 Stroke
By Bore Size
30 - 60 mm
60 - 80 mm
80 -100 mm
100 and Above
By Price Range
Premium
Mid-range
Low-range
By Technology
IC Engine Motorcycles
Electric Motorcycles
Hybrid Motorcycles
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Motorcycle Market Key Players
The key participating players of the global motorcycle market include Yamaha Motor Co., Ltd., Suzuki Motor Corp., Honda Motor, Hero Motor, Eicher Motors, Harley Davidson Motor, Ducati, Kawaski, Triumph Motorcycles, Bayerische Motoren Werke (BMW) AG, Polaris Industries Inc., Piaggio & C. SpA, Vmoto Ltd., Zero Motorcycles, Moriwaki, Horex, Bridgestone, Daelim, KR Motors, Bajaj Auto, Mahindra, Royal Enfield, TVS Motors, Ather Energy, Jawa Motors, Baotian Motorcycle, Chang Jiang, Dayun, Evoke Motorcycles, Jincheng Suzuki, Keeway, CFMoto, Lifan, Niu Technologies, Thumpstar, Aeon Motor, Kymco, PGO, SYM, Taiwan Golden Bee, and Hartford, and among others.
Reports & Insights Overview on Motorcycle Market Report
The non-identical approach of Reports & Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the Motorcycle market by Reports & Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of Motorcycle
Advantages of Motorcycle
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment where one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
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Frequently Asked Questions
The global motorcycle market is expected to reach at a value of US$ 530.0 Bn by 2030 end at a CAGR of 6.4%
The rising demand for affordable and efficient modes of transportation which is predicted to elevate the market growth significantly over the forthcoming years as the worldwide middle-class population is proliferating tremendously
The global motorcycle market is segmented on the basis of type, routing mode type, engine capacity, engine type, bore size, price range, technology and region
The key participating players of the global motorcycle market include Yamaha Motor Co., Ltd., Suzuki Motor Corp., Honda Motor, Hero Motor, Eicher Motors, Harley Davidson Motor, Ducati, Kawaski, Triumph Motorcycles, Bayerische Motoren Werke (BMW) AG, Polaris Industries Inc., Piaggio & C. SpA, Vmoto Ltd., Zero Motorcycles, Moriwaki, Horex, Bridgestone, Daelim, KR Motors, Bajaj Auto, Mahindra, Royal Enfield, TVS Motors, Ather Energy, Jawa Motors, Baotian Motorcycle, Chang Jiang, Dayun, Evoke Motorcycles, Jincheng Suzuki, Keeway, CFMoto, Lifan, Niu Technologies, Thumpstar, Aeon Motor, Kymco, PGO, SYM, Taiwan Golden Bee, and Hartford, and among others.