Press release
Motorcycle Market to Cross US$ 181 Bn revenues between 2021-2031
Motorcycle Market 2022
As per industry analysis, the global motorcycle market is set to close in on a revenue of US$ 125 Bn in 2021. Sales of motorcycles are projected to increase at around 4% CAGR during 2021-2031, with the market expanding 1.5X over the same time period. The market is on course to top a revenue of US$ 181 Bn by the end of 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 Companies-
• Triumph Motorcycles Ltd.
• Bajaj Auto Ltd.
• BayerischeMotorenWerke (BMW) AG
• Ducati Motor Holding S.p.A.
• Eicher Motors Limited
• Harley-Davidson, Inc.
• Hero MotoCorp Ltd.
• Honda Motor Co., Ltd.
• KTM AG
Complete Report Details@https://www.persistencemarketresearch.com/market-research/motorcycle-market.asp
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.
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Key Questions Answered in Motorcycle Market Report -
• What is the motorcycle market worth at present?
• What will be the demand outlook for the motorcycle industry through 2031?
• Which are the most lucrative markets for motorcycle manufacturers?
• What is the market share of the top 6 motorcycle manufacturers in the world?
• Who are the most prominent exporters of motorcycles?
• What are the key trends shaping the demand for motorcycles?
• Which are the top 5 countries accounting for bulk of demand for motorcycles?
• What is the market outlook for motorcycles in North America?
• Which countries are key producers of motorcycles?
• What do key statistics reveal for Japan and Korea?
• What is the motorcycle market worth at present?
• What will be the demand outlook for the motorcycle industry through 2031?
• Which are the most lucrative markets for motorcycle manufacturers?
• What is the market share of the top 6 motorcycle manufacturers in the world?
• Who are the most prominent exporters of motorcycles?
• What are the key trends shaping the demand for motorcycles?
• Which are the top 5 countries accounting for bulk of demand for motorcycles?
• What is the market outlook for motorcycles in North America?
• Which countries are key producers of motorcycles?
• What do key statistics reveal for Japan and Korea?
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