Global Motorcycle Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Motorcycles have become one of the most preferred mode of transportation especially among the middle-class population. Consumers are considering electronic bikes as an ideal substitute for smart cars, public transport and scooters. Around 200 million motorcycles are said to be in use around the world, or about 33 motorcycles per 1000 people. These bikes are highly beneficial in tackling traffic congestion as these bikes are smaller in size and attain higher speed.

Global Motorcycle Market was valued at USD 119.55 billion in 2021 and is expected to reach USD 231.31 billion by 2029, registering a CAGR of 8.60% during the forecast period of 2022-2029. Standard accounts for the largest motorcycle type segment in the respective market owing to the large consumer base especially in the Asia-Pacific region. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Motorcycle refers to any two-wheeled or, even three-wheeled motor vehicle that is generally propelled by an internal-combustion engine. These vehicles vary depending on the task they are designed for, such as navigating congested urban traffic, sport and racing, long distance travel, or off-road conditions. These are one of the most affordable forms of motorised transport.

Report Scope and Market Segmentation

Motorcycle Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Demand for Sports Bicycles

The rise in demand for sports bicycles due to increased use of bicycles in trekking and leisure activities is one of the major factors driving the growth of motorcycle market. An increase in the number of cycling events and biking expeditions to difficult terrains, including steep mountain ranges.

• Consumer Inclination towards Electric bikes

The rise in consumer inclination towards electric or e-bikes accelerate the market growth. These bikes are widely adopted as they are smaller in size, provide health benefits and offers higher speed with lesser effort. The surge in requirement of motorcycles for various purposes such as daily transport, and adventure, among others drives the market further.

• Popularity of Cycling Competitions

The rise in popularity of cycling competitions in sporting events further influence the market. The increase in these cycling competitions accelerate the scope of aftermarket tire sales due to the constant need for maintenance services.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the motorcycle market.

Opportunities

Furthermore, incorporation of cutting-edge technologies to enhance safety, luxury, and comfort in motorcycles extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, emergence of anti-lock braking systems (ABS) will further escalate the growth of motorcycle market.

Restraints/Challenges faced by the Motorcycle Market

On the other hand, increased risk of road accidents for motorcyclists is expected to obstruct market growth. The risk of death for motorcyclists is known to be 20 times than that of car occupants. High cost associated with sports bikes is projected to challenge the motorcycle market in the forecast period of 2022-2029.

This motorcycle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the motorcycle market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.

COVID-19 had a Major Impact on Motorcycle Market

The COVID-19 had a negative impact on the motorcycle market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand motorcycle market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the motorcycle market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Recent Developments

• Yamaha Motor Co., Ltd. Launched YZF-R7 supersport model in May’2021. The motorcycle features 689 cm3 engine that is developed based on Yamaha’s Crossplane Concept. It is mounted in a lightweight frame for the roads of Europe and United States.

Global Motorcycle Market Scope

The motorcycle market is segmented on the basis of motorcycle type and energy capacity. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Motorcycle Type

• Adventure
• Cruiser
• Mopeds
• Sports
• Standard
• Touring

Engine Capacity

• Up to 150 CC
• 151-300 CC
• 301-500 CC
• 501-800 CC
• 801-1000 CC
• 1001-1600 CC
• Above 1600 CC

Motorcycle Market Regional Analysis/Insights

The motorcycle market is analyzed and market size insights and trends are provided by country, motorcycle type and energy capacity.

The countries covered in the motorcycle market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the motorcycle market because of the high disposable income and well-developed infrastructure within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in number of sports activities in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Motorcycle Market Share Analysis

The motorcycle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to motorcycle market.

Some of the major players operating in the motorcycle market are

• Yamaha Motor Co., Ltd. (Japan)
• Suzuki Motor Corporation (Japan)
• Honda Motor Co., Ltd. (India)
• Eicher Motors Limited (India)
• TVS Motor Company. (India)
• H-D or its affiliates. (US)
• Bajaj Auto Ltd. (India)
• Ducati Motor Holding S.p.A (Italy)
• Kawasaki Heavy Industries, Ltd. (Japan)
• Triumph Motorcycles (UK)
• BMW Group (Germany)
• Lifan Technology (Group) Co., Ltd. (China)
• KTM (Austria)
• Polaris Inc. (US)

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