Industry: Automotive
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 254
Report ID: PMRREP3586
According to Persistence Market Research, the Market revenue totalled US$ 135.25 Bn for 2024. The demand for Motorcycle will accelerate with the top 5 market players holding a prominent share of the market in 2023. The overall Motorcycle Market is expected to reach US$ 200.2 Bn by 2033, growing at a CAGR of 4.0% from 2024 to 2033.
Motorcycles play a vital function in the lives of mankind. Motorcycles are used for a variety of requirements, with each offering a unique technology. It is a two-wheeled vehicle powered by either an electric engine or a motor driven by the ignition of conventional fuels. Motorcycle Cruisers have a more grounded shape than a bicycle that is generally powered by a gasoline motor with a capacity ranging from 100 cc to 1000 cc. These vehicles are available in a variety of engine sizes and for a variety of uses. Motorcycle design is influenced by many aims such as long journey, racing, cruising, and sports-related activities.
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Attribute |
Details |
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Market Size (2024E) |
US$ 135.25 Bn |
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Projected Market Value (2033F) |
US$ 200.2 Bn |
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Value CAGR (2024-2033) |
4.0% |
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Collective Value Share: Top 3 Countries (2023) |
8.5% |
A motorcycle, commonly referred to as a motorbike or bike, is a two Wheelers automobile with a frame made of metal and fibre. Motorcycle designs vary greatly depending on the intended use, including off-road riding, racing, long-distance travel, commuting, and sports. As the number of people in the middle class increases globally, it is anticipated that demand for efficient and affordable forms of transportation would rise significantly in the future years.
Historically, the market grows at a medium CAGR of 1.0% from 2019 to 2023, with areas such as North America, Europe, and South Asia & Pacific holding a significant part of the worldwide market.
As the global middle class population increases, need for efficient and affordable transportation methods is expected to climb dramatically in the coming years. Motorcycles are becoming more popular as a feasible option, and hence need for scooters and motorcycles is expected to rise. Manufacturers' integration of cutting-edge technology in motorbikes and scooters has resulted in increased safety, comfort, and ergonomics. Additionally, modern and innovative two-wheelers are attracting students, younger working professionals, and regular travellers.
E-mobility has grown significantly in recent years. Electric cars are expected to outperform traditional motorbikes in a variety of ways, including fuel efficiency, silent operation, and low noise. Furthermore, as pollution limits tighten, demand for alternative forms of transport is expected to surge.
The global market is expected to grow at a CAGR of roughly 4.0% over the Forecasting Period.
The Standard bikes increasing the demand for Market. Because of the minimal price of the standard bike, standard bike sales are mostly driven by the expanding economic strength of the middle-class population, particularly in emerging countries. Standard bikes with great fuel efficiency, low maintenance costs, noticeable speed and acceleration, and high performance and agility have significantly contributed to market revenue. Furthermore, these attributes have made it a more appealing option for new riders, contributing to market development.
Currently Motorcycles have cutting-edge features that improve comfort, elegance, and safety. Indirectly, sales are being increased, for instance, due to the creation of anti-lock braking systems (ABS), which are increasingly popular among end users. ABS uses Inertial Measuring Unit (IMU) data in addition to ABS and throttle control to preserve bike stability during emergency circumstances and tight turns, these technological advancements in motorcycles will boost the Market.
Customers' purchasing decisions will continue to be influenced by improved safety measures that safeguard users and improved suspension systems that promote comfort. Motorcycles' higher fuel efficiency as compared to other personal modes of transportation is a major factor in their increased popularity above scooters and other two/three-wheelers.
Increased Adoption of E-Bikes and E-Scooters may Limit Growth of Conventional Engine Motorcycles. The adoption of EVs, as a result of increased public concern about environmental safety and government initiatives to promote electro-mobility, may have an impact on market growth. However, major two-wheeler manufacturers are concentrating on the release of electric bikes, which may open up new options for the companies.
While motorcycles are becoming more popular due to their numerous advantages. Motorcyclists have a higher chance of death than car travellers. the bigger risk of road accidents for bikers often acts as a market restraint for Market.
Why is the Scope of Growth for Motorcycle Market in Germany?
In terms of revenue, the German market is expected to grow at a close to XX% CAGR from 2023 to 2033. It is regarded as one of Europe's largest motorbike markets. Due to innovative manufacturing hubs and rising demand for numerous types of motorcycles, Germany is a promising market for motorcycle producers.
What are the Market Projections for Motorcycles in the U.S.?
From 2023 to 2033, the US market is expected to grow at a CAGR of XX% to XX%. High demand for a variety of motorcycles, including cruiser, standard, touring, and others, is fuelling market expansion in the United States. Furthermore, the growing number of motorcycle clubs specialising upon luxury bikes, popularized by Harley-Davidson and Indian motorcycles, is likely to boost motorcycle sales in U.S. market.
What is the Future Outlook of Motorcycle Sales in France?
The France market is prominent and has significant development potential. France is predicted to grow at a significant CAGR of XX% between 2023 and 2033.The increase in local demand has propelled the growth of a country's market. The growing preference for high-end motorbikes has boosted demand for cruisers and sports bikes, and this trend is projected to continue in the future years.
What Makes Mexico a Prominent Market for Motorcycles?
Motorcycle manufacturers are looking to expand their operations in Mexico. As a result, motorcycle manufacturers have established manufacturing operations in Mexico and formed partnerships with local market players.
Over the projection period, the Mexican market is expected to grow at a CAGR of XX.
Which Product Holds High Significance in the Market?
Motorcycles are predicted to dominate the industry by product, contributing up close to 80% of the market by the end of 2033. Regular, cruiser, and sports bikes account for the majority of market share and are expected to grow at significant CAGRs over the projected period.
Will IC Engine Motorcycle Market Be Popular?
From 2023 to 2033, IC engine technology is predicted to grow at a CAGR of nearly XX%. Over the next few years, the category is likely to dominate the market. The 150cc category is important and is likely to be profitable as well.
Will Market Growth Be Led by Cruiser Motorcycle Type?
Consumers love cruiser bikes because they are stylish, beginner-friendly, also packed with motorbike accessories and advanced audio. Customers can readily modify their cruiser bikes. Because these bikes are large and bulky, it is simple to alter the ride. Cruiser motorcycles in the luxury market have resulted in global brand loyalty among buyers. Cruisers are the ideal bikes for long rides. These bikes allow you to ride during extended periods of time in a comfortable position. The low seat height improves comfort and confidence by enabling each leg to touch the ground, while the saddlebags add additional storage.
The majority of corporations have emphasized on new product launches and growing production operations in developing countries. Innovation, collaborations, strategic alliances, and the development of regional and worldwide distribution networks are examples of different strategies implemented by Manufacturers.
Some of the key developments are:
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Forecast Period |
2024-2033 |
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Historical Data Available for |
2019-2023 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Product
By Technology
By Region
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The global Motorcycle market is estimated to be valued at over US$ XX Mn as of 2022.
Motorcycle is projected to increase at XX% CAGR and is expected to be valued at around US$ XX Mn by 2033 end.
Bajaj Auto Ltd., Bayerische Motoren Werke (BMW) AG, Ducati Motor Holding S.p.A., Eicher Motors Limited, Harley-Davidson, Inc., Hero MotoCorp Ltd., Honda Motor Co., Ltd., KTM AG, Piaggio & C. SpA, Suzuki Motor Corporation, Triumph Motorcycles Ltd, TVS Motor Company Ltd, Vmoto Limited, Yamaha Motors Co., Ltd., Zero Motorcycles, Inc.
Germany, China, U.S., India, and Japan are driving most of the demand for Motorcycle.
The market in Germany is set to expand at 2% CAGR during the coming forecasted period.
China, the U.S., and Germany are major producers and exporters of Motorcycle.
China is slated to hold a 66.7% share of the global market by 2033.
