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Motorcycle And Bicycle Market Size, Trends, Insights, Demand, Growth, Market Research Report 2024-2033
Motorcycle And Bicycle Market
The motorcycle and bicycle market size is expected to see strong growth in the next few years. It will grow to $100.15 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to urban mobility solutions, health and fitness, e-commerce and delivery services, regulatory changes. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
Market Overview -
Motorcycle is a motorized vehicle with two wheels that can transport one or two persons. Bicycle is an automobile having two tandem wheels, handlebars for steering, a saddle seat, and pedals for propulsion.
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Riding The Wave Of Technological Advancements Catalysts For Growth In The Motorcycle And Bicycle Manufacturing Industries
Advances in technology are expected to be a continued driver of market growth in the forecast period. The global motorcycle and bicycle manufacturing industries have experienced many technological advances in the last decade, and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles included in 2021 are blind-spot monitoring; heated seats; front and rear parking sensors; All-wheel or four-wheel drive; Lane-departure warning; Apple CarPlay and/or Android Auto; Power front passenger seat; LED accent lights; Ventilated or cooled seats; Memory driver's seat. These innovations are expected to drive the motorcycle and bicycle markets during the forecast period.
Competitive Landscape -
Major companies operating in the motorcycle and bicycle market include EXOR Group, Robert Bosch GmbH, Aisin Seiki Co Ltd, Toyota Motor Corp, Denso Corp., Schaeffler Technologies AG & Co KG, Continental AG, Gestamp Automoción, Tata Motor Group, Dana Incorporated, Magna International Inc., ZF Friedrichshafen AG, Hyundai Motor Company, GKN Ltd., BorgWarner Inc., Valeo SA, JTEKT Corporation, Mahle GmbH, Autoliv Inc., Hitachi Automotive Systems Ltd., Nexteer Automotive Group Limited, American Axle & Manufacturing Holdings Inc., Tenneco Inc., Lear Corporation, Faurecia SA, Benteler Automotive Corporation, Linamar Corporation, Rheinmetall Automotive AG, Mando Corporation, WABCO Holdings Inc., Allison Transmission Holdings Inc., Cummins Inc., Eaton Corporation plc.
E-Bikes On The Rise Electric Bicycle Manufacturing Gains Momentum With Eco-Friendly Innovations
Bicycle manufacturers are increasingly investing in the manufacture of electric bicycles that operate using rechargeable batteries. These electric bicycles serve as an eco-friendly, low-cost mode of transportation and can also be used for recreational bicycle trips, shopping, and errands. Major players are also investing in new electric bicycles equipped with GPS and internet connectivity. For instance, in 2022, Ducati, a manufacturer of motorcycles, launched its first-ever folding electric bicycle, MG20. Similarly, Indian-based electric mobility company launched new-generation electric bicycles, Heileo H100, a lightest electric hybrid bike in 2021.
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Key Segments -
The motorcycle and bicycle market covered in this report is segmented -
1) By Type: Motorcycles And Parts, Bicycles And Parts, Motor Scooters, Other Motorcycle And Bicycle
2) By Propulsion Type: Internal Combustion Engine (ICE), Electric
3) By Distribution Channel: Independent Retailers, Online Sales
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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