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Emerging Trends to Reshape the Motorcycle And Bicycle Market: E-Bikes On The Rise Electric Bicycle Manufacturing Gains Momentum With Eco-Friendly Innovations as a Key Influencer
Motorcycle And Bicycle
Motorcycle And Bicycle Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for motorcycles and bicycles has witnessed robust growth in the past few years. There's a forecast that it will expand from $82.22 billion in 2024 to $87.53 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. Factors such as economic advancement, urbanization, ecological awareness, and fuel cost have contributed to the growth during the historic period.
Motorcycle And Bicycle Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market for motorcycles and bicycles is anticipated to experience significant growth. The market value is projected to reach $106.85 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.1%. The predicted growth during this forecast period can be attributed to several factors such as urban mobility solutions, health and fitness consciousness, e-commerce and delivery services, and regulatory changes. The forecast period is also expected to see major trends such as electrification and lightweighting, use of advanced materials, adoption of additive manufacturing, digitalization and connectivity, and partnerships and collaborations.
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What Are the Drivers Transforming the Motorcycle And Bicycle Market?
The growth in attention towards health and wellbeing is anticipated to stimulate the motorcycle and bicycle market in the future. The term health consciousness involves the awareness and proactive measures a person takes towards ensuring their health and wellness, which could include their behavior, attitude, and belief towards their lifestyle choices, physical fitness, and nutrition. Factors such as the increasing cases of lifestyle-related illnesses like obesity, diabetes, and heart disorders have escalated the consciousness about living healthily. Motorcycles and bicycles are an optimum choice for those inclined towards a healthy lifestyle, with bicycles being preferred for its fitness benefits and motorcycles being increasingly used for recreational activities as part of an energetic outdoor routine. In May 2022, a survey by the International Food Information Council, a non-profit organization based in the US, was conducted among 1,005 American adults aged between 18-80 and Gen Z adults aged 18-24. The study revealed that approximately 52% of the participants had been following a particular diet or eating pattern, a notable increase from 39% in 2021. The most popular choices included clean eating (16%), mindful eating (14%), and calorie counting (13%). As such, the rise in health consciousness is fueling the motorcycle and bicycle market.
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What Long-Term Trends Will Define the Future of the Motorcycle And Bicycle Market?
Bicycle producing companies are gradually focusing more on the creation of electric bicycles that run on rechargeable batteries. These electric bicycles provide a sustainable, cost-effective means of transport and are also applicable to leisurely bike rides, shopping, and errands. Leading entities are also putting resources into technologically advanced electric bicycles featuring GPS and internet connectivity. For example, the motorcycle producer, Ducati, unveiled its premier folding electric bicycle, the MG20, in 2022. Likewise, a company in India specializing in electric mobility has launched its new generation of electric bicycles.
Which Segments in the Motorcycle And Bicycle Market Offer the Most Profit Potential?
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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Which Firms Dominate the Motorcycle And Bicycle Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in the Motorcycle And Bicycle Market?
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.
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