Motorcycle Rental Market To Grow 11.5% by 2028 | Size, Top Companies Analysis and Forecast

The latest report by IMARC Group, titled "Motorcycle Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global motorcycle rental market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Motorcycle Rental Market Size, CAGR and Forecast 2023-2028:

The global motorcycle rental market size reached US$ 207.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 411 Million by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028.

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Motorcycle rental is a service that enables people to rent motorcycles for a predetermined amount of time. It primarily operates at parks, beaches, or other locations with frequent traveler visits. Bike shops and garages offer motorcycle rental services on an hourly, daily, weekly, or monthly basis with additional facilities, such as panniers, helmets, and riding gear. They offer flexible schedules and movements and enable the users to ride without the responsibilities and hassles associated with ownership. 

Market Trends: 

The primary factor accelerating the global motorcycle rental market is the increasing trend of road trips and rising tourism activities. The shifting consumer preference toward motorcycle rental services can also be attributed to its various advantages, such as no maintenance and increased convenience. Moreover, the availability of a variety of luxury motorbikes at an affordable rental fee and rising consumer expenditure power are bolstering the market growth. In line with this, key service providers are offering ease in internet booking and are investing heavily in aggressive promotional activities to increase their consumer base, which is positively contributing to the market growth. Other factors, such as the surging working populace and rising consumer awareness regarding the benefits of motorcycle rentals, are creating a positive outlook for the market.

Some of the Top Key Players Operating in the Market are Given Below:

Motorcycle Rental Companies Covered: 

• Adriatic Moto Tours
• EagleRider
• Harley-Davidson Inc.
• MotoQuest
• Motoroads
• Rental 819 (Kizuki Rental Service)
• The Hertz Corporation
• WickedRide Adventure Services Pvt. Ltd.

Report Segmentation:

The report has segmented the global motorcycle rental market based on type, booking channel, application and region.

Based on Type:

• Luxury Motorcycle
• Common Motorcycle

Based on Booking Channel:

• Websites
• Apps

Based on Application:

• Motorcycle Tourism
• Commutes

Geographical Analysis:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Country: United States
Website: https://www.imarcgroup.com

Who We Are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.