Motorcycles are a type of two-wheelers which are either run by an electric driven motor or via engine that is powered by the combustion of conventional fuels. These vehicles are available in a wide range of engine sizes and for different applications. The global motorcycle market is anticipated to grow with a CAGR of 3.8% during the forecast period, i.e., 2021-2030. Factors such as the rapid advancements in two-wheeler technologies, growing availability of a wide range of motorcycles, rising need for cost-effective private mode of transportation amongst individuals worldwide, and the growing adoption of electric two-wheelers are expected to drive the market growth in the coming years. The global motorcycle market is expected to reach around USD 147000 Million by the end of 2030, up from a revenue of about USD 98700 Million in the year 2020.
The market is segmented by numerous segments, which include segmentation by type, engine type, application, and by region. On the basis of engine type, the market is segmented into less than 200CC, 200-400CC, 400-600CC, 600-800CC, 800-1000CC, and above 1000CC, out of which, the above 1000CC segment is expected to hold the largest market share in the coming years and further reach a market revenue of close to USD 63200 Million by the end of 2030.
On the basis of geographical analysis, the market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World. The market in the Asia Pacific region is expected to hold a significant share during the forecast period. Factors such as the increasing production of both electric and non-electric two-wheelers, rapid surge in urbanization, and the increasing population in countries such as China, and India, are expected to drive the market growth.
Some of the leading market players in the global motorcycle market that are mentioned in our report are Bayerische Motoren Werke (BMW) AG, Ducati Motor Holding S.p.A., Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., and others.
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Companies Mentioned
- Bayerische Motoren Werke (BMW) AG
- Ducati Motor Holding S.p.A.
- Honda Motor Co.Ltd.
- Yamaha Motor Co.Ltd.
