Description
Global Motorcycles Market Research Report—Forecast till 2025
Market Overview
Global Motorcycles Market is anticipated to exhibit a CAGR of 5.73% during the assessment period. Motorcycle or motorbikes are two-wheeler vehicles that runes on regular internal combustion engines. Many Motorcycle manufacturers, dealers, distributors, and retailers are focusing to enhance their efficiency through the adoption and integration of advanced analytics and business intelligence. Therefore, the market has a significant outlook and opportunities in the coming years. Moreover, the High competition, rapid changes in technology, and integrated solutions by industry participants are the key factors responsible to gain substantial market growth during the study. Additionally, the manufacturers engross in mergers & acquisitions, product development, partnerships, joint ventures, and expansions to stay up to date in the market, both regionally and globally.
The global motorcycles market is expected to witness a significant expansion owing to the rising advancements in technology, strategies applied by various motorcycle manufacturers in developing countries. However, BMW, Ducati, Indian Motorcycle, Triumph, Suzuki, HD, and Honda, are expanding in developing countries, including India and Brazil, and regions such as Africa and Southeast Asia. Additionally, the global market growth is fuelled by the increasing disposable income levels of the middle-class population across the globe, and the need for affordable and convenient modes of transportation. Further, the rising demand for motorcycles from the young population leads to the demographics of major markets such as China, India, the US, Brazil, and Mexico.
Market Segmentation
Global Motorcycles Market has been segmented into Type and Country.
Based on the type segment, the global motorcycle market has been classified into adventure, cruiser, sports, standard, and touring. The standard segment is expected to lead the market during the forecast period.
Regional Analysis
Geographically, the global motorcycle market is majorly studied for China, India, the US, Brazil, and Mexico.
China is expected to contribute to the largest global motorcycles market during the projected period, followed by India. China is one of the key markets for the manufacturing of motorcycles because of the inexpensive labor and the availability of raw materials. However, the popularity of four-wheel vehicles continues in China, the motorcycles market is estimated to register a gradual decline yearly.
The Indian motorcycle market is described as inexpensive, fuel-efficient, and low displacement bikes. The region has registered an unprecedented requirement for motorcycles from rural areas because of the new infrastructural developments and the construction of paved roads. The presence of major market players is also expected to boost the market during the review period. In terms of engine capacity, the 51-125cc segment contributes the largest share of around 50% of the total market, followed by the 126-250cc segment at nearly 23%. Besides, the market is expected to face difficulties because of the ongoing pandemic of COVID-19 and the implementation of new government policies in India.
Major Competitors
The Major Players in the Global Motorcycles Market are Honda Motor Co., Ltd. (Japan), Suzuki Motor Corporation (Japan), Polaris Industries, Inc. (US), Yamaha Motor Co., Ltd. (Japan), Harley-Davidson, Inc. (US), PIERER Mobility AG (Austria), BMW AG (Germany), Kawasaki Heavy Industries, Ltd. (Japan), Triumph Motorcycles (UK), Hero MotoCorp Ltd. (India), Bajaj Auto Ltd. (India), TVS Motor Company (India), Ducati Motor Holding S.p.A. (Italy) and Eicher Motors Limited (India).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
