Used Bike Market Will See Strong Expansion Through 2031 - Blade Motorcycles, Batfa Japan Inc., Mundimoto Europe SL

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. 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.

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

Prime determinants of growth

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.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

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

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.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/9ee1b2623642b1c475bc3792335a6f95

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.

Based on type, the standard segment accounted for the largest share in 2021, contributing to nearly 35% of the global used bikes market, and is projected to maintain its lead position during the forecast period. This is attributed to the fact that the Standard motorcycles consume less fuel as compared to other bikes (sports & cruiser) and are easy to control and ride, thus propelling the demand in the used bike market. In addition, they come in many varied sizes and are great for daily commuting as they are inexpensive, reliable, comfortable, and economic. Owning to these features standard bikes segment selected for daily commuting or daily travel, as well as they are affordable to maintain. However, the sports segment is expected to portray the largest CAGR of 6.6% from 2022 to 2031.

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.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A09641

The customer-to-customer (C2C) segment's expansion is fueled by low prices and simple document transfers. The market's expansion is, however, hampered by the prevalence of fraudulent online platform transactions and false merchants. Therefore, one of the key elements that generate scope for the C2C segment in the used bike market is direct one-on-one interaction between buyers and sellers.

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:

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