Press release
On-Road Motorcycles Industry Expected to Reach $114.2 Billion by 2029 at 11.5% CAGR
On-Road Motorcycles
On-Road Motorcycles Market Value Projection: How Much Will the Market Size by 2025?
In the past few years, the market size for on-road motorcycles has seen significant growth. It is projected to expand from $67.85 billion in 2024 to $73.79 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%. Factors contributing to this growth in the recent past include lifestyle and cultural attractiveness, fuel efficiency, urban mobility, rising markets, motorcycle clubs and communities, along with safety regulations.
What Will Be the Market Growth Forecat for On-Road Motorcycles in 2029?
In the ensuing years, the market for on-road motorcycles is projected to experience a swift upward trajectory. It is anticipated to amass a worth of $114.2 billion in 2029, with an 11.5% compound annual growth rate. The projected development during the forecast period could be ascribed to a myriad of factors such as lifestyle and cultural tendencies, environmental consciousness, economic conditions and factors, the advent of electric motorcycles, market proliferation in upcoming economies, and the concept of shared mobility. The forecast period also expects to see predominant trends like technology incorporation, enhanced connectivity, featherweight and compact models, electric motorcycles, in addition to retro and vintage designs.
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What Are the Core Competitive Drivers in the On-Road Motorcycles Industry?
The increase in users participating in motorbike sports is anticipated to stimulate the expansion of the on-road motorcycles market in the future. Motorbike sport encompasses all aspects of sporting activities involving motorcycles. In motorbike racing and similar sports, on-road bikes are preferred as they offer higher speed compared to off-road bikes. These on-road motorcycles are typically used by sports enthusiasts for getting around pits or staging areas during motocross races and other sports events. For instance, the Insurance Institute for Highway Safety (IIHS), a non-profit organization based in the US, reported a registration of 4.31 lakh in the sports bike segment in the United States in 2022. Therefore, the increasing involvement in motorbike sports is fueling the growth of the on-road motorcycles market.
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Which On-Road Motorcycles Market Segment Is Projected to See the Fastest Growth?
The on-road motorcycles market covered in this report is segmented -
1) By Type: Sports Bikes, Cruiser Motorcycles, Touring Motorcycles, Standard Motorcycles
2) By Application: Personal, Commercial
3) By End User: Offline, Online
Subsegments:
1) By Sports Bikes: Superbikes, SuperSport Bikes, Naked Sports Bikes, Adventure Sport Bikes
2) By Cruiser Motorcycles: Classic Cruisers, Power Cruisers, Touring Cruisers, Custom Cruisers
3) By Touring Motorcycles: Full-Size Touring Bikes, Adventure Touring Bikes, Sport Touring Bikes, Lightweight Touring Bikes
4) By Standard Motorcycles: Retro Standards, Commuter Motorcycles, Universal Motorcycles, Dual-Sport Motorcycles
Which Trends Are Opening New Opportunities in the On-Road Motorcycles Market?
The on-road motorcycles market is witnessing a surge in product innovation, a trend that is becoming increasingly popular. Major players in the market are creating new products in order to maintain their status within the sector. For instance, MG, a British automotive brand, introduced the novel MG4 electric car in Europe in September 2022. The MG4 electric is the first in a series of MG vehicles based on the advanced new MSP (Modular Scalable Platform) developed by SAIC.
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Who Are the Leaders in the On-Road Motorcycles Market?
Major companies operating in the on-road motorcycles market include Harley-Davidson Incorporation, Yamaha Motor Co. Ltd., Ducati Motor Holding SpA, Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Suzuki Motor Corporation, Triumph Motorcycles Ltd., Bayerische Motoren Werke AG, KTM AG, Aprilia SpA, Moto Guzzi, Vespa, Indian Motorcycle International LLC, Husqvarna Motorcycles GmbH, Royal Enfield, MV Agusta Motor SpA, Bajaj Auto Limited, Benelli QJ, Hyosung TNC Co. Ltd., Zero Motorcycles Inc., IMZ-Ural, Norton Motorcycle Co. Ltd., Lightning Motorcycles Crop., Guangdong Tayo Motorcycle Technology Co. Ltd., Bimota, Voxan Motors
Which Regional On-Road Motorcycles Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the on-road motorcycles market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the on-road motorcycles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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