Motorcycle Market is Expected to Reach a Valuation of US$ 163 Billion by 2033

A recent study by Fact.MR, a provider of market research and competitive intelligence, reveals that the Motorcycle Market reached US$ 110 billion in 2023 and is expected to grow at a robust CAGR of 4% through 2033.

Motorcycles represent a practical form of transportation and offer fresh opportunities for expansion and innovation in the automotive sector. Globally, motorcycle enthusiasts often form clubs to celebrate and unite around shared passions for specific motorcycle brands, fostering a vibrant culture within the industry.

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Motorcycles offer versatility for a wide range of activities, including cruising, racing, long-distance travel, and daily commuting. The increasing consumer preference for private mobility solutions with off-road capabilities has driven up the demand for motorcycles.

Motorcycles typically boast superior fuel efficiency compared to many vehicles, and manufacturers are increasingly focusing on incorporating advanced and practical technologies. This emphasis has contributed to a global uptick in motorcycle sales. Recent years have seen heightened consumer interest in motorcycles due to the integration of modern conveniences such as Bluetooth speaker systems, ergonomic seats, navigation aids, and distinctive horns.

Key Insights from Market Study:

The global motorcycle market was valued at US$ 110 billion in 2023.
Motorcycle sales worldwide are projected to grow at a CAGR of 4% from 2023 to 2033.
Global demand for motorcycles is expected to reach US$ 163 billion by 2033.
The demand for cruiser motorcycles is forecasted to grow at a CAGR of 4.2% over the next decade.
The market in France is anticipated to reach US$ 3.4 billion by the end of 2033.

"Issues such as carbon emissions are seriously considered in worldwide environmental awareness efforts, and new electric-powered motorcycles are gaining prominence as a result. Battery-powered electric scooters have a good range when fully recharged and are rising in popularity," says a Fact.MR analyst

Competitive Landscape

Top manufacturers are increasing their R&D investments to provide better performance and comfort. They are focusing on new developments, product standards, and supply chain management to increase their revenue. Leading companies in the motorcycle industry also benefit from the adoption of advanced technology and the growth in popularity and evolution of motorcycle events in developed economies.

For instance:

In 2023, the Pan America, a brand-new adventure touring motorcycle, was introduced by Harley-Davidson. The bike is made with off-road and on-road riding in mind and is targeted at the expanding adventure touring market.

Key Companies Profiled

Eicher Motors Limited
Ducati Motor Holding S.p.A
Yamaha Motor Co., Ltd.
Bajaj Auto Limited
Suzuki Motor Corporation
Harley Davidson Motor Company Inc.
Honda Motor Company, Ltd.
Hero MotoCorp Limited
TVS Motor Company Limited
Kawasaki Heavy Industries, Ltd

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Winning Strategy

Leading companies are integrating smart technologies for a safer riding experience and to prevent accidents. Technologies such as vehicle-to-vehicle communication are being developed that will enable riders to understand the speed and position of the vehicle and provide warnings to riders. Key players in the worldwide motorcycle market are spending on research and development, improving design processes, and developing next-generation air-cooled engines with higher torque and advanced braking systems to increase mileage and fuel consumption.

Top motorcycle manufacturers are installing adaptive headlights which causes light to pivot when the motorcyclist steers thereby improving the visibility. They are optimizing the potential of integrating smart accessories into the bikes to remain competitive and reinforce the demand for motorcycles during the forecast period.

For instance,

In 2023, the new YZF-R1M superbike was launched by Yamaha. A top competitor in the market for high-performance motorcycles, the bike has innovative electronic systems and a lightweight carbon fiber body.
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Key Segments of Motorcycle Industry Research

By Engine Capacity:
Up to 150 CC
150 to 300 CC
300 to 500 CC
500 to 800 CC
800 to 1,000 CC
1,000 to 1,600 CC
Above 1,600 CC
By Motorcycle Type:
Adventure
Cruisers
Mopeds
Sports
Standard
Touring
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global motorcycle market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the motorcycle market based on engine capacity (up to 150 CC, 150 to 300 CC, 300 to 500 CC, 500 to 800 CC, 800 to 1,000 CC, 1,000 to 1,600 CC, above 1,600 CC) and motorcycle type (adventure, cruisers, mopeds, sports, standard, touring), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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This release was published on openPR.