Press release
Motorcycle Market is predicted to reach a market value of US$ 181 Bn by the end of 2031
Motorcycle Market 2022
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 is on course to top a valuation of US$ 181 Bn by the end of 2031. Increasing demand for electric/hybrid motorcycles & scooters, rise in adoption of personal mobility owing to ease of accessibility & convenience, and inclination of young adults towards sports motorcycles are shaping market expansion.
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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.
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
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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.
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Major Highlights of Motorcycle Market Report:
• Motorcycle Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
• The report dives deeper into the market and explains the dynamic factors bolstering market growth.
• The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
• The report analyzes Motorcycle Market presence across major regions of the world.
• It determines the production & consumption capacities and demand & supply dynamics of each regional market.
• The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
• It provides company overview and SWOT analysis of each of the market players.
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