Used Bike Market Set for Significant Growth, Projected to Reach USD 66.2 Billion by 2031

The global used bike market is gaining traction due to factors such as the surge in internet-derived sales, the high cost of new bikes, and a rise in demand for two-wheelers owing to traffic congestion. However, the huge risk of accidents restrains the market growth to some extent. Nevertheless, a surge in demand for bike taxi services and the growing adoption of electric motorcycles will offer remunerative growth opportunities to the market in the upcoming years. 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.

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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.

Based on the distribution channel, the C2C segment held the highest market share in 2021, accounting for more than half of the global used bikes market, and is estimated to maintain its leadership status throughout the forecast period. Low pricing and easy transfer of documents are the factors that drive the growth of the segment. In addition, direct one-on-one interaction between the buyers and sellers is a major factor that creates scope opportunity for this segment in the used bikes market. However, the B2C segment is projected to manifest the highest CAGR of 6.0% from 2022 to 2031.

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Europe is the second largest market for the used bikes. The rise in popularity of motocross events and modification of used bikes for such events are expected to primarily drive the growth of the used bikes market in European countries. Other factors that drive the growth of the used bike market include modified used bikes, an increase in demand for electric bikes, and a rise in tourism activities. The U.K. is becoming one of the leading markets for used bikes in Europe owing to the independent nature of two wheels compared to public transport. In addition, in the past year, riding a motorcycle or scooter to work has grown in popularity. Moreover, the rise in presence of online platforms and used bike dealers to provide certified used bikes are expected to fuel the growth of the used bike market across the U.K. during the forecast period.
By distribution channel, the C2C segment grabbed the largest market share of more than half of the overall market revenue and is expected to rule the roost throughout the forecast timeframe. The growth of the segment is driven by easy transfer of documents and low pricing. Additionally, the direct face-to-face interaction between the buyers and sellers also accelerates the growth of the segment. Moreover, the B2C segment would showcase the fastest CAGR of 6.0% throughout the forecast timeframe.

The key players profiled in this report include

Yamaha Certified Pre-Owned.
Used Motorcycle Store. Com (Dealer Spike)
Triumph Motorcycles
Mundimoto Europe SL
Motorbikes4All
Motohunt Inc.
Droom, India Kawasaki Motors Pvt. Ltd.
Blade Motorcycles
Bafta Japan Inc.

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Moreover, any bike's sales are significantly influenced by the business dealership. The expansion of business-to-customer (B2C), particularly in the used bike industry, is fueled by a number of factors, including accessibility to the vehicle, pre-owned certified vehicles, immediate delivery of the vehicle, and brand trust. The important market trends for B2C market players also include negotiated prices, various product tests, the growth of online infrastructure, and post-sale services. Therefore, it is projected that brand trust and the opportunity to test drive a variety of cars right away would open chances for the secondhand bike industry.

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.

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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.

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