Electric Two-Wheelers Boost Motorcycle Market Growth to 2032, Says Persistence Market Research

The global motorcycle market is witnessing a robust expansion, driven by urban mobility demands, affordability, and the rise of electric alternatives. According to Persistence Market Research, the market is projected to grow from US$ 140.7 billion in 2025 to US$ 186.4 billion by 2032, reflecting a compound annual growth rate (CAGR) of 4.1%. The industry's upward trajectory is a result of multiple intersecting factors-rising fuel costs, increasing traffic congestion, and a growing appetite for personal transportation solutions.

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Asia-Pacific remains the dominant geographical region in the global motorcycle market. Countries such as India, China, Vietnam, Thailand, and Indonesia are key contributors, where motorcycle ownership per household often surpasses 70%. This dominance is due to the affordability of two-wheelers, limited public transit systems, and cultural preferences for motorcycles as daily transport. Among segments, standard motorcycles lead due to their practicality and price advantage, while electric motorcycles are emerging rapidly due to eco-conscious consumer behavior and government subsidies.

Key Highlights from the Report

• Electric motorcycles are gaining popularity due to environmental concerns and government incentives.
• Leading manufacturers include Honda, Yamaha, Hero MotoCorp, Bajaj Auto, Kawasaki, and Suzuki.
• Demand for premium motorcycles is growing, especially in emerging economies.
• Motorcycles are being increasingly used for last-mile delivery services, for food and e-commerce delivery platforms.
• Adventure and Touring motorcycles are gaining traction among enthusiasts.
• Asia-Pacific holds the largest market share fueled by urbanization, affordability, and strong demand for two-wheelers.

Market Segmentation

The motorcycle market is segmented based on product type, including standard, cruiser, sports, touring, and electric motorcycles. Standard motorcycles remain the top-selling category due to their versatility, affordability, and suitability for daily commuting. Electric motorcycles, however, are gaining significant momentum owing to increased regulatory support, reduced battery costs, and evolving consumer preferences toward greener alternatives.

In terms of end-users, the market includes individual consumers, delivery services, and fleet operators. The individual segment dominates due to the widespread use of motorcycles as primary personal transport, especially in developing countries. However, the fleet and commercial segment-particularly in food delivery and e-commerce-is witnessing fast growth as motorcycles are ideal for navigating congested urban environments and providing cost-effective last-mile delivery solutions.

Regional Insights

In Asia-Pacific, the motorcycle market is booming, driven by dense urban populations, underdeveloped public transportation infrastructure, and rising disposable incomes. Countries like India, China, Vietnam, and Indonesia contribute to over 55% of the market's value, reflecting deep market penetration.

In contrast, North America and Europe are seeing a gradual shift toward electric and premium motorcycles, spurred by stricter emission regulations and changing consumer lifestyle preferences. The uptake of motorcycles for recreational purposes and the rise in adventure and touring bike sales reflect broader lifestyle trends in these regions.

Market Drivers

One of the key growth drivers in the motorcycle market is urbanization, which compels consumers to seek affordable and efficient transport alternatives. With rising fuel prices and traffic congestion, motorcycles offer a cost-effective and agile mode of transport. Furthermore, the growing acceptance of electric vehicles (EVs) is accelerating innovation in electric motorcycles, aided by government incentives, rising environmental awareness, and lower total cost of ownership.

Market Restraints

Despite strong growth indicators, the market faces several challenges. Safety concerns and high accident rates associated with motorcycle use remain a significant deterrent in several regions. Additionally, limited charging infrastructure for electric motorcycles in developing markets hampers their adoption. In some countries, regulatory barriers and import tariffs on motorcycle components can also impact cost and supply chains.

Market Opportunities

The future of the motorcycle market lies in innovation and diversification. Manufacturers investing in connected features, AI integration, and battery-swapping technologies are poised to capture the next generation of users. There's also immense potential in expanding the premium motorcycle segment in emerging markets, where rising income levels are pushing consumers toward luxury and performance-oriented two-wheelers.

Frequently Asked Questions (FAQs)

How Big is the Motorcycle Market in 2025?
Who are the Key Players in the Global Motorcycle Market?
What is the Projected Growth Rate of the Motorcycle Market?
What is the Market Forecast for Motorcycles through 2032?
Which Region is Estimated to Dominate the Motorcycle Industry through the Forecast Period?

Company Insights

Key Players in the Global Motorcycle Market:

1. Honda Motor Co., Ltd.
2. Yamaha Motor Co., Ltd.
3. Hero MotoCorp Ltd.
4. Bajaj Auto Ltd.
5. Suzuki Motor Corporation
6. Kawasaki Heavy Industries, Ltd.

Recent Market Developments:

• In early 2025, Hero MotoCorp launched a new range of electric motorcycles aimed at urban commuters in India, targeting improved range and lower price points.

• Yamaha announced its partnership with a battery-swapping network in Southeast Asia to promote e-mobility adoption across Indonesia and Thailand.

Conclusion

The motorcycle market is at a dynamic inflection point, fueled by changing mobility patterns, technological advancements, and policy shifts. As electric models surge and consumer preferences evolve, stakeholders across the value chain-from OEMs to suppliers-must innovate to stay competitive. Whether for personal transport, commercial use, or recreational adventures, motorcycles will continue to play a pivotal role in shaping the future of global mobility.

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About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

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This release was published on openPR.