According to the report, the global motorcycle market is projected to grow at a CAGR of 8.5% between 2024 and 2032. Aided by the soaring need for affordable and efficient modes of transportation, as well as the evolving landscape of urban mobility, the market is expected to grow significantly by 2032.
Motorcycles, encompassing a broad spectrum of two-wheelers from scooters to high-powered bikes, have long been cherished not only as symbols of freedom and expression but also as practical tools for navigation, particularly in densely populated urban areas. They offer unparalleled advantages in terms of fuel efficiency, manoeuvrability, and reduced carbon emissions, making them especially appealing in today’s environmentally conscious era.
A surge in the global urban population, coupled with the escalating challenges of traffic congestion and the dire need for sustainable transportation, has fuelled the motorcycle market growth. As cities expand and roads become increasingly congested, the nimbleness of motorcycles offers a compelling solution, enabling quicker transit times and reduced fuel consumption.
Moreover, the motorcycle has etched its position in the global market due to its affordability. For many in emerging economies, motorcycles serve as the stepping stone to personal mobility, bridging the gap between public transportation and pricier four-wheelers. Their cost-effectiveness, both in terms of initial investment and maintenance, makes them especially appealing to a vast demographic of users.
As per the motorcycle market analysis, technological advancements further refine the appeal of motorcycles. Modern variants come equipped with cutting-edge safety features, electronic aids, advanced braking systems, and connectivity options, ensuring riders benefit from both enhanced performance and safety. Furthermore, the electric motorcycle segment, which boasts zero emissions, is experiencing tremendous growth, heralding a future where sustainable and eco-friendly two-wheelers could dominate urban landscapes.
The global affinity for leisure biking and motorcycle touring also impacts the motorcycle market outlook. High-powered motorcycles, representing luxury, thrill, and status, have seen consistent demand, especially in developed economies. Brands that evoke heritage, culture, and adventure, such as Harley-Davidson and Royal Enfield, continue to thrive, reflecting a segment of consumers who view motorcycles not just as mere vehicles but as extensions of their identity and passion.
Motorcycles, encompassing a broad spectrum of two-wheelers from scooters to high-powered bikes, have long been cherished not only as symbols of freedom and expression but also as practical tools for navigation, particularly in densely populated urban areas. They offer unparalleled advantages in terms of fuel efficiency, manoeuvrability, and reduced carbon emissions, making them especially appealing in today’s environmentally conscious era.
A surge in the global urban population, coupled with the escalating challenges of traffic congestion and the dire need for sustainable transportation, has fuelled the motorcycle market growth. As cities expand and roads become increasingly congested, the nimbleness of motorcycles offers a compelling solution, enabling quicker transit times and reduced fuel consumption.
Moreover, the motorcycle has etched its position in the global market due to its affordability. For many in emerging economies, motorcycles serve as the stepping stone to personal mobility, bridging the gap between public transportation and pricier four-wheelers. Their cost-effectiveness, both in terms of initial investment and maintenance, makes them especially appealing to a vast demographic of users.
As per the motorcycle market analysis, technological advancements further refine the appeal of motorcycles. Modern variants come equipped with cutting-edge safety features, electronic aids, advanced braking systems, and connectivity options, ensuring riders benefit from both enhanced performance and safety. Furthermore, the electric motorcycle segment, which boasts zero emissions, is experiencing tremendous growth, heralding a future where sustainable and eco-friendly two-wheelers could dominate urban landscapes.
The global affinity for leisure biking and motorcycle touring also impacts the motorcycle market outlook. High-powered motorcycles, representing luxury, thrill, and status, have seen consistent demand, especially in developed economies. Brands that evoke heritage, culture, and adventure, such as Harley-Davidson and Royal Enfield, continue to thrive, reflecting a segment of consumers who view motorcycles not just as mere vehicles but as extensions of their identity and passion.
Market Segmentation
The market can be divided based on type, propulsion type, and region.Market Breakup by Type
- Standard
- Sports
- Cruiser
- Others
Market Breakup by Propulsion Type
- ICE
- Electric
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global motorcycle market. Some of the major players explored in the report are as follows:- Yamaha Motor Co., Ltd.
- Honda Motor Co., Ltd
- Volkswagen Group (Ducati Motor)
- Kawasaki Heavy Industries Ltd
- Triumph Motorcycles Ltd
- BMW AG
- Harley-Davidson, Inc.
- Suzuki Motor Corporation
- Piaggio & C. SpA (Aprilia)
- KTM AG
- Bajaj Auto Ltd.
- TVS Motor Company Limited
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Industry Opportunities and Challenges17 Industry Events and Developments
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Motorcycle Market Analysis
9 North America Motorcycle Market Analysis
10 Europe Motorcycle Market Analysis
11 Asia Pacific Motorcycle Market Analysis
12 Latin America Motorcycle Market Analysis
13 Middle East and Africa Motorcycle Market Analysis
14 Market Dynamics
15 Trade Data Analysis (HS Code- 8711)
16 Competitive Landscape
List of Figures and Tables
Companies Mentioned
- Yamaha Motor Co. Ltd.
- Honda Motor Co. Ltd
- Volkswagen Group (Ducati Motor)
- Kawasaki Heavy Industries Ltd
- Triumph Motorcycles Ltd
- BMW AG
- Harley-Davidson Inc.
- Suzuki Motor Corporation
- Piaggio & C. SpA (Aprilia)
- KTM AG
- Bajaj Auto Ltd.
- TVS Motor Company Limited
Methodology
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