Used Bike Market : Domestically Manufactured, Imported Bikes By Source Forecast, 2021-2031

The used bike market was valued at $38.7 billion in 2021, and is estimated to reach $66.2 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031. Used Bike Market by Distribution channel (C2C, B2C), by Source (Domestically Manufactured, Imported Bikes), by Engine capacity (50 to 125cc, 125 to 250cc, Above 250cc, Electric Drive), by Type (Standard, Sports, Cruiser bikes, Mopeds, Others), by Propulsion (ICE, Electric): Global Opportunity Analysis and Industry Forecast, 2021-2031

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Moreover, Japan abandoned two-wheelers in favor of automobiles. Additionally, it ranks third globally in terms of the number of new car registrations and is one of the top manufacturers in the automotive sector. Additionally, due to its severe emission regulations, Japan is the world's largest exporter of used bikes, while the country has a low market for used cars. For instance, the Japanese company TSUKISHIRO Co. Ltd., which has been in the business of importing and exporting new and used motorcycles for more than 30 years, reported that all its branches dispatch more than 4,000 units per month of a wide range of commercial scooters, scooters, and classic bikes.

Moreover, any bike's sales are significantly influenced by the business dealership. The expansion of business-to-customer (B2C), particularly in the used bike industry, is fueled by a number of factors, including accessibility to the vehicle, pre-owned certified vehicles, immediate delivery of the vehicle, and brand trust. The important market trends for B2C market players also include negotiated prices, various product tests, the growth of online infrastructure, and post-sale services. Therefore, it is projected that brand trust and the opportunity to test drive a variety of cars right away would open chances for the secondhand bike industry.

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One major reason that is projected to contribute to a rise in the demand for used bikes produced locally during the forecast period is the increase in traffic congestion in both developed and developing countries. A range of motorcycle types, including ordinary bikes and scooters, have increased in quantity throughout time to meet the wants of varied clientele. Due to the lack of dependable public transportation, there has been a significant increase in the demand for motorcycles in rural areas as well. This is expected to accelerate the expansion of domestically produced bikes in the market for used bikes.

KEY FINDINGS OF THE STUDY :

By distribution channel, the C2C segment is anticipated to exhibit significant growth in used bikes market in the near future..

By source, the domestically manufactured segment is anticipated to exhibit significant growth in used bikes market in the near future..

By engine capacity, the 125 to 250cc segment is anticipated to exhibit significant growth in used bikes market in the near future.

By Type, the standard segment is anticipated to exhibit significant growth in used bikes market in the near future..

By propulsion, the ICE segment is anticipated to exhibit significant growth in used bikes market in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

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Key players operating in the global used bikes market include Batfa Japan Inc., Blade Motorcycles, Droom, India Kawasaki Motors Pvt. Ltd., Motohunt Inc., Motorbikes4All, Mundimoto Europe SL, Triumph Motorcycles, Used Motorcycle Store. Com (Dealer Spike), and Yamaha Certified Pre-Owned.

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