Global Motorcycles Market – Industry Trends and Forecast to 2030

Global Motorcycles Market, By Type (On road, Off road, Scooters), Application (Handlers, Postures), Propulsion Type (Internal combustion enginee, Electric), Price range(Low, Mid, High), End user (Cruiser, Adventure, Touring, Standard, Sports) – Industry Trends and Forecast to 2030.

Motorcycles Market Analysis and Size

The market value of motorcycles is strongly correlated with the increasing preference of young people for cars.  Younger working adults and frequent travelers favor modern, cutting-edge two-wheelers. Modern technology is being incorporated into motorcycles, which has led to an increase in popularity and the growth of motorcycle events in developed economies.

Data Bridge Market Research analyses that the motorcycles market, was valued at USD 98.80 billion in 2022, and will reach USD 152.08 billion by 2030, growing at a CAGR of 5.54% during the forecast period of 2023 to 2030. 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 includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Motorcycles Market Scope and Segmentation  

Market Definition

A motorcycle is a two-wheeled motor vehicle with a metal and fiber composite frame. It is also known as a motorbike or a bike. Motorcycles can be constructed with two-stroke or four-stroke engines that have up to four cylinders. Additionally, motorcycles are any two- or even three-wheeled motor vehicles that are typically propelled by an internal combustion engine. These forms of motorized transportation are among the least expensive; the motorcycle is one of the most widely used, especially by middle-class individuals. Consumers view electronic bikes as the ideal replacement for smart cars, scooters, and public transportation. According to estimates, there are approximately 200 million motorcycles in use worldwide, or 33 motorcycles per 1,000 people. As, they are smaller in size and can achieve higher speeds, these bikes are very helpful in reducing traffic congestion.

Motorcycles Market Dynamics

Drivers

• More middle-class people are drawn to standard bikes, accelerating market growth

One of the key factors accelerating the market's growth is the growing middle-class population around the world, which is raising demand for inexpensive modes of transportation. Through the view of middle-class consumers' preference for purchasing easily accessible and reasonably priced vehicles, the market is expanding as a result of the standard bike's low price. Standard bikes offer observable acceleration and speed, low maintenance requirements, high performance, and agility. Drivers value these attributes, which stimulates market expansion. Considering the dearth of reliable public transportation, demand for motorcycles and scooters has also significantly increased in rural areas as well.

• Increase in demand for two-wheeler due to traffic congestion

Motorcycles are the most common form of transportation for commuting between locations. When riding on various surfaces, it is quick and nimble, keeps the riders an away from rush, and makes it possible for them to squeeze through tight spaces. While cars and other four-wheeled vehicles take a lot of time and are even a major contributor to traffic around the world, they take less time and are therefore quicker.

Opportunities

• Accessible two-wheeler loans increase the purchases and expansion of the market

Through the rising popularity of motorcycles, particularly among younger generations, and the easy accessibility of vehicle loans, the market for motorcycles will continue to expand. There are numerous banks and corporations that offer loans. A two-vehicle loan is simple to obtain, and the low down payment increases the likelihood that young people and members of the middle caste will buy more of it, thus creates a opportunity for user to buy and creates expansion of market.

• Demand for  'EV's can create the market growth

The sales of motorcycles with conventional engines have increased as e-bikes and scooters gain popularity.  The adoption of EVs is influenced by government programs to encourage electro-mobility and growing environmental safety concerns, which may also help other types of motorcycles gain market share. In view to the fact that electric vehicles can be environmentally friendly and don't emit any pollution, the market for motorcycles is predicted to experience a significant boom.

Restraints/Challenges

• An increase in accidents restrains market expansion

Despite the fact that motorized two-wheelers have advanced quickly, still the motorcycle market is frequently constrained by the rising risk of traffic accidents for riders. According to data from the European Commission, head injuries occurred in about 80% of fatal motorcycle accidents.

This motorcycles market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, 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 motorcycles market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2021, The creation of a hybrid-electric motorcycle with connected mobility and Al bike assistance was announced by Kawasaki. The motorcycle will achieve a new level of connected mobility using the company's Rideology app and add-on features.
• In 2021, The newest Multistrada V4 from Ducati went into production for the first time and was dubbed the first motorcycle in the world with front and rear radar technology.

Global Motorcycles Market Scope

The motorcycles market is segmented on the basis of by type and application, propulsion type and price range and end user. The growth amongst these segments will help you analyse 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.

Type

• On road
• ICE Motorcycle
• Motorbikes
• Light Motorcycles
• Sport Motorbikes
• Mopeds and Electronic Motorcycles
• Motor Cycles for Handicapped
• Off road
• Scooters

Application

• Handlers
• Postures

Propulsion Type

• Internal combustion enginee
• Electric

Price range

• Low
• Mid
• High

End user

• Cruiser
• Adventure
• Touring
• Standard
• Sports

Motorcycles Market Regional Analysis/Insights

The motorcycles market is analysed and market size insights and trends are provided by country, by type and application, propulsion and price range as referenced above.

The countries covered in the motorcycles market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, 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), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the dominance are rising disposable income, favourable economy of the nations and high demand in medium and heavy motorcycle in Germany. Additionally, innovative manufacturing hubs, and rising numerous types of motorcycles create a demand in Europe.

Asia-Pacific will undergo the highest growth rate during the forecast period owing to the increasing demand along with growing per capita income of people in the singapore. In addition, the rest of the Southeast Asian countries are developing countries, with low per capita disposable income, unable to afford expensive cars, and can only choose to buy more economical motorcycles, so there is a high chance for development in the Southeast Asian motorcycle industry.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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 Motorcycles Market Share Analysis

The motorcycles 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 motorcycles market.

Some of the major players operating in the motorcycles market are:

• Bajaj Auto Ltd. (India)
• BMW AG (Germany)
• Ducati Motor Holding S.p.A (Italy)
• Eicher Motors Limited (India)
• Harley-Davidson, Inc.'s (U.S.)
• Hero MotoCorp Ltd. (India)
• China Jiailng Industrial Co., Ltd (China)
• Honda Motor Co., Ltd. (Japan)
• KTM Sportmotorcycle GmbH (Austria)
• Kawasaki Heavy Industries, Ltd. (Japan)
• Piaggio and C. SpA (Italy)
• Suzuki Motor Corporation (Japan)
• Triumph Motorcycles (U.K.)
• TVS Motor Company (India)
• Vmoto Limited ABN (Australia)
• Yamaha Motor Co., Ltd. (Japan)
• Zero Motorcycles, Inc (U.S.)