At a CAGR of 5.6% | Used Bike Market size is Projected to Reach $66.2 billion by 2031

An increase in demand for two-wheeler due to traffic congestion, the high cost associated with new bikes, and the rise in internet-based sales drive the growth of the global 𝐔𝐬𝐞𝐝 𝐁𝐢𝐤𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭. The global used bike market size was valued at $38.7 billion in 2021, and is projected to reach $66.2 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A09641

An increase in demand for two-wheeler due to traffic congestion, the high cost associated with new bikes, and the rise in internet-based sales drive the growth of the global used bikes market. However, the high risk of accidents restricts the market growth. Moreover, the increase in demand for bike taxi services and the rising adoption of electric motorcycles present new opportunities in the coming years.

𝐓𝐨𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

𝐁𝐥𝐚𝐝𝐞 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞𝐬, 𝐁𝐚𝐭𝐟𝐚 𝐉𝐚𝐩𝐚𝐧 𝐈𝐧𝐜., 𝐌𝐨𝐭𝐨𝐫𝐛𝐢𝐤𝐞𝐬 𝟒 𝐀𝐥𝐥, 𝐔𝐬𝐞𝐝 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞 𝐒𝐭𝐨𝐫𝐞 (𝐃𝐞𝐚𝐥𝐞𝐫 𝐒𝐩𝐢𝐤𝐞), 𝐌𝐮𝐧𝐝𝐢𝐦𝐨𝐭𝐨 𝐄𝐮𝐫𝐨𝐩𝐞 𝐒𝐋, 𝐘𝐚𝐦𝐚𝐡𝐚 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐞𝐝 𝐏𝐫𝐞-𝐎𝐰𝐧𝐞𝐝, 𝐌𝐨𝐭𝐨𝐡𝐮𝐧𝐭 𝐈𝐧𝐜., 𝐓𝐫𝐢𝐮𝐦𝐩𝐡 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞𝐬, 𝐈𝐧𝐝𝐢𝐚 𝐊𝐚𝐰𝐚𝐬𝐚𝐤𝐢 𝐌𝐨𝐭𝐨𝐫𝐬 𝐏𝐯𝐭. 𝐋𝐭𝐝., 𝐃𝐫𝐨𝐨𝐦

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.

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

Asia-Pacific currently dominated the used bikes market in 2021. This was primarily due to the rise in fuel and new bike prices and the adoption of new technology in the used-motor vehicle industry. China has a propensity for producing and selling cutting-edge bicycles that are utilized for both everyday commuting and a variety of adventure-related activities. Meanwhile, there are many chances for the expansion of the used bike industry across the nation due to the presence of various local bike manufacturers who offer a wide selection of customized used bikes and modified used off-road motorbike products.

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly half of the global used bikes market, and is likely to dominate the market during the forecast period. The growth of ride-hailing services or bike taxi services in the region is anticipated to propel the growth of the market across the region. One of the most practical modes of transportation, bike taxis allow users to request a vehicle via online platforms. Additionally, information on the driver and the passenger is transmitted when requesting transport, making ride-hailing services far safer than conventional taxi services. However, the LAMEA region is expected to witness the fastest CAGR of 6.2% from 2022 to 2031.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A09641

Based on engine capacity, the 125 to 250cc segment held the highest market share in 2021, accounting for more than one-third of the global used bikes market, and is estimated to maintain its leadership status throughout the forecast period. Along with being affordable and fuel-efficient, the superior appearance of motorcycles in this market segment quickly grabs the attention of the consumer. These motorcycles' minimal maintenance costs are another aspect of the market's high demand for this segment. Moreover, 150cc to 200cc dirt bikes with two-stroke engines are typically utilized for off-road racing. Although two-stroke road motorcycles are no longer frequently produced, riders can still buy used bikes. Compared to a typical four-stroke engine, these engines provide more power, but they also require more maintenance. However, the electric drive segment is projected to manifest the highest CAGR of 19.2% from 2022 to 2031.

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.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Electric Scooter and Motorcycle Market - https://www.globenewswire.com/en/news-release/2022/09/05/2509720/0/en/Electric-Scooter-and-Motorcycle-Market-To-Portray-93-9-Billion-by-2031-Allied-Market-Research.html

Electric Vehicle Market - https://www.globenewswire.com/en/news-release/2023/10/23/2764378/0/en/Electric-Vehicle-Market-EV-Industry-Is-Set-to-Reach-an-Estimate-of-823-75-Billion-by-2030-at-a-Compound-Annual-Growth-Rate-CAGR-Of-18-2-Allied-Market-Research.html

Utility Vehicle Market - https://www.prnewswire.com/news-releases/utility-vehicle-market-to-reach-51-69-bn-globally-by-2030-at-9-4-cagr-allied-market-research-301350994.html

Europe Electric Vehicle Chargers Market - https://www.globenewswire.com/news-release/2019/10/14/1929021/0/en/Europe-Electric-Vehicle-Chargers-Market-to-Witness-a-CAGR-of-29-4-by-2023-Says-Allied-Market-Research.html

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.