Riding the Road : A Deep Dive into the Motorcycle Market Landscape and Trends

According to the report, the global motorcycle industry generated $105.5 billion in 2021, and is anticipated to generate $233.5 billion by 2031, witnessing a CAGR of 8.6% from 2022 to 2031.

𝐓𝐡𝐞 𝐬𝐭𝐚𝐧𝐝𝐚𝐫𝐝 𝐦𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝 :
Based on type, the standard motorcycle segment held the highest market share in 2021, accounting for nearly two-fifths of the global motorcycle market, and is estimated to maintain its leadership status throughout the forecast period, as it consumes less fuel as compared to other bikes (sports & cruiser) and are easy-to-control and ride. However, the sports motorcycle segment is projected to manifest the highest CAGR of 10.2% from 2022 to 2031, owing to numerous developments and innovations in sports bikes for medium to high-income group consumers.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 -https://www.alliedmarketresearch.com/request-sample/32307

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡 :

Factors such as increase in demand for two-wheeler due to traffic congestion, growth in investment by manufacturers in the motorcycle industry to innovate and bring superior performance and comfort in designs and the rise in adoption of electric motorcycles drive the growth of the global motorcycle market. However, high risk of accidents and high cost associated with sports bikes restrict the market growth. Moreover, incorporation of cutting-edge technology in motorcycles and rise in popularity & evolution in motorcycles events in developed economies present new opportunities for the market growth in the coming years.

𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐂𝐨𝐦𝐛𝐮𝐬𝐭𝐢𝐨𝐧 𝐄𝐧𝐠𝐢𝐧𝐞 (𝐈𝐂𝐄) 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝 :

Based on propulsion type, the Internal Combustion Engine (ICE) segment held the highest market share in 2021, accounting for nearly 90% of the global motorcycle market, and is estimated to maintain its leadership status throughout the forecast period. This is due to the rising integration of internal combustion engines (ICEs) with the fuel-efficient system and advancement in IC engine technologies with more sophisticated components. However, the electric segment is projected to manifest the highest CAGR of 13.1% from 2022 to 2031, owing to the increase in demand for fuel-efficient, high-performance, and low-emission vehicles along with stringent government rules & regulations toward vehicle emissions.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/motorcycle-market/purchase-options

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏 :

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global motorcycle market, and is likely to dominate the market during the forecast period. The same region is expected to witness the fastest CAGR of 9.7% from 2022 to 2031, owing to the surge in technological innovations in the automobile industry, increase in focus by motorcycle manufacturers on superior performance and comfort, and rise in the preference of consumers toward premium off-road motorcycles.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Bayerische Motoren Werke (BMW) AG,
Harley-Davidson Inc.,
Honda Motor Co., Ltd.,
KTM AG,
Piaggio & C. SpA,
Suzuki Motor Corporation,
Triumph Motorcycles,
TVS Motor Company Ltd.,
Yamaha Motor Co.,
Zero Motorcycles, Inc.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

By type, the sports segment dominated the global motorcycle market in terms of growth rate.

By propulsion type, the electric segment dominated the global market in terms of growth rate.

By price range, the low segment dominated the global market in terms of growth rate.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 :
https://www.alliedmarketresearch.com/purchase-enquiry/32307

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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This release was published on openPR.