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Evolving Market Trends In The Motorcycle And Bicycle Industry: E-Bikes On The Rise Electric Bicycle Manufacturing Gains Momentum With Eco-Friendly Innovations
Motorcycle And Bicycle
What Is the Expected Motorcycle And Bicycle Market Size During the Forecast Period?
The motorcycle and bicycle market has experienced substantial growth in recent years. It is projected to increase from $82.22 billion in 2024 to $87.53 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The historical growth can be attributed to economic development, urbanization, environmental concerns, and fuel prices.
The motorcycle and bicycle market size is forecasted to experience strong growth in the next few years. It will grow to $106.85 billion by 2029, with a compound annual growth rate (CAGR) of 5.1%. This growth is driven by urban mobility solutions, health and fitness trends, e-commerce, delivery services, and regulatory changes. Major trends include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, and collaboration and partnerships.
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What Are the High-Growth Segments in the Motorcycle And Bicycle Market?
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
Subsegments:
1) By Motorcycles And Parts: Cruiser Motorcycles, Sport Motorcycles, Touring Motorcycles, Standard Motorcycles, Dirt Bikes, Electric Motorcycles, Motorcycle Parts (Engines, Tires, Frames)
2) By Bicycles And Parts: Road Bicycles, Mountain Bicycles, Hybrid Bicycles, Electric Bicycles (E-bikes), Bicycle Parts (Wheels, Tires, Handlebars)
3) By Motor Scooters: Gas-powered Motor Scooters, Electric Motor Scooters, Off-road Scooters
4) By Other Motorcycle And Bicycle: Tricycles, Mopeds, Folding Bicycles, All-terrain Vehicles (ATVs)
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What Key Drivers Are Expected to Influence Future Motorcycle And Bicycle Market Growth?
Rising health consciousness is contributing to the growth of the motorcycle and bicycle market. With growing awareness of health risks linked to lifestyle diseases, individuals are increasingly choosing bicycles for fitness and motorcycles for outdoor recreation. According to a 2022 survey by the International Food Information Council, 52% of respondents followed a diet, up from 39% in 2021, reflecting this health-focused trend that supports market growth.
Which Companies Hold the Largest Share Across Different Motorcycle And Bicycle Market Segments?
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.
What Are the Latest Developing Trends in the Motorcycle And Bicycle Market?
Bicycle manufacturers are boosting their investment in electric bicycles powered by rechargeable batteries, which provide eco-friendly and cost-effective transportation. These bikes are also suited for recreation, shopping, and commuting. Notably, in 2022, Ducati released its first folding electric bicycle, the MG20, and Indian electric mobility firms are also launching new-generation e-bikes with features like GPS and internet connectivity.
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What Are the Emerging Geographies for The Motorcycle And Bicycle Market Growth?
Asia-Pacific was the largest region in the motorcycle and bicycle market in 2023. Western Europe was the second-largest region in the motorcycle and bicycle market. The regions covered in the motorcycle and bicycle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Motorcycle And Bicycle Market?
2. What is the CAGR expected in the Motorcycle And Bicycle Market?
3. What Are the Key Innovations Transforming the Motorcycle And Bicycle Industry?
4. Which Region Is Leading the Motorcycle And Bicycle Market?
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