Rise in Global Per Capita Income to Boost Motorcycle Popularity at a CAGR of 3.8%, Fact.MR States


Transition to new emission standards to impact motorcycle sales in short term

Rockville, Nov. 08, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global motorcycle market is estimated to be worth US$98.8 billion in 2022 and is expected to grow at an impressive rate 3.8% CAGR over the forecast years 2022-2032.

Due to the increase in disposable income of people in rural areas and the lack of a well-established public transportation system, the demand for motorcycles and scooters has increased significantly in rural areas. The road infrastructure of rural areas is still at its primitive stage compared to urban areas. To meet the need for mobility in rural areas and overcome the high selling prices and tax rates of four-wheelers, consumers are turning to motorcycles, thereby increasing their demand and subsequently contributing to the growth of the market.

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Moreover, motorcycles are becoming more and more preferred not only for personal use but also for adventure and touring activities. In order to avoid traffic jams and have an open-air feeling, tourists prefer four-wheeled motorcycles as a means of transportation.

Cruiser bikes are popular among tourists. This factor is one of the major factors responsible for the high sales of motorcycles, thus driving their growth in the market. Due to traffic problems in almost all urban areas, local citizens also prefer motorbikes for daily commuting with four wheels, which is another popular driver of the market.

Key insights from market research

  • The global motorcycle market is expected to grow at an impressive CAGR of 3.8% and be valued at $144 billion by 2032.

  • The market witnessed a CAGR of (1.5)% for the period 2017-2021.

  • Under type, the standard motorcycle dominates the market and is valued at US$50.6 billion in 2022.

  • Asia-Pacific and Latin America led the market with 68.7% and 8.5% market share in 2021.

  • Combined, bikes with a capacity of 150-300cc and up to 150cc are expected to account for 61.4% market share in 2022.

  • Depending on the region, demand for motorcycles is expected to grow at CAGRs of 3.0% and 3.5%, respectively, in Europe and North America.

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Market development

Over time, motorcycle technology has evolved considerably. For example, the majority of major manufacturers are increasing the production of electric motorcycles in place of traditional motorcycles powered by fossil fuels. Electric motorcycles were quite expensive when they first appeared on the market. However, as more companies get involved in creating custom designs and improving functionality, their pricing has become more reasonable.

In the industry, there has been a trend away from standard motorcycles, and more and more people are choosing retro-looking motorcycles. Although vintage motorcycles were great in their heyday, the motorcycle industry has seen significant advancements in technology. For this reason, motorcycle manufacturers are creating retro-inspired motorcycle designs with better and more modern features.

Competitive landscape

The motorcycle manufacturers are Yamaha Motor Co., Ltd, Suzuki Motor Corporation, Honda Motor Company Ltd., Hero MotorCorp Limited, Eicher Motors Limited, TVS Motor Company Limited, Harley Davidson Motor Company Inc., Bajaj Auto Limited, Ducati Motor Holding SpA , Expleco Limited, Kawasaki Heavy Industries Ltd., Triumph Motorcycles Limited, BMW AG, KTM AG, Polaris Industries Inc, Lifan Industry (Group) Co., Ltd. The world’s leading manufacturers of motorcycle products use sustainable technologies and optimization systems for various end users. . Leading manufacturers are focusing on developing new product designs to solve product placement issues in harsh driving environments. Additionally, expertise and professionalism in planning, designing and delivering a minimum level of pollution are core to their marketing strategies.

  • In January 2020, Red Bull KTM Factory Racing’s Tom Vialle was crowned the 2020 FIM MX2 Motorcross World Champion. The company began investing more to launch more products over the next few years.

  • In May. In 2019, Bajaj Auto Limited launched its new extensive line of motorcycle equipment such as DTS-i, full LED headlight with vertical auto headlight on, dual projector headlights, etc.

Fact.MR provided detailed information on the prices of major motorcycle manufacturers positioned in all regions, sales growth, production capacity and speculative technological expansion, in the recently released report.

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Motorcycle Industry Research Segmentation

  • By type:

    • Adventure

    • Cruiser

    • Mopeds

    • Sports

    • Standard

    • Tour

  • By capacity:

    • Up to 150cc

    • 151-300cc

    • 301-500cc

    • 501-800cc

    • 801-1000cc

    • 1001-1600cc

    • Above 1600 CC

  • By region:

    • North America

    • Latin America

    • Europe

    • Asia Pacific

    • AEM

More valuable information about the offer

Fact.MR, in its new offering, presents an unbiased analysis of the global motorcycle market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.

The study reveals essential information based on motorcycle type (Adventure, Cruiser, scooter, sport, standard, touring), engine capacity (up to 150 CC, 150-300 CC, 301-500 CC, 501- 800 CC, 801-1000 CC, 1001-1600 CC, above 1600 CC), in major regions of the world (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa).

Check out other related studies published by Fact.MR Research:

Water Bike MarketThe global water bike market is expected to surpass a valuation of US$24.2 million in 2022 and expand further at a CAGR of 25% to reach US$225.8 million by the end of 2032. hydrofoil water bike for recreational activities is likely to account for almost a quarter of the global water bike market by the end of 2022.

motorcycle accessories market – The global motorcycle accessories market is expected to be valued at US$8.84 billion in fiscal year 2022, from US$8.39 billion in 2021. Over the past year, the industry has recorded a year-on-year increase of 5.3%. From 2022 to 2032, sales of motorcycle accessories are poised to flourish at a CAGR of 6% to reach a value of US$15 billion by the end of 2032.

motorcycle filters market – The global motorcycle filters market is poised to register a CAGR of 6.2% during the forecast period 2017-2022. Filters play an important role in the engine of any automobile, and motorcycles are no exception. When engine oil or any other lubricating oil circulates inside the engine, it accumulates various types of dirt particles that damage the engine.

Motorcycle suspension system brandyou – According to a recent study, the market for motorcycle suspension systems is expected to register moderate growth over the forecast period owing to the increasing frequency of suspension replacement, population growth and increased demand for comfort that is expected to stimulate market growth. It is also estimated that the growth of the e-bike industry in the European region will drive the demand for motorcycle suspension systems.

Motorcycle Monoshock Suspension MarketThe motorcycle industry is attracting more and more motorcyclists to new and improved vehicles in recent times. With major automotive innovations and developments, the need for efficient, durable and reliable components including monoshock motorcycle suspension to deliver improved motorcycle performance is gaining importance. The motorcycle monoshock suspension market is driven by these product innovations that require enhanced additive components to improve the performance and end-use experience of motorcyclists.

About Fact.MR

Fact.MR is a market research and advisory agency with deep expertise in emerging market intelligence. Covering a wide range – from automotive and industry 4.0 to healthcare, technology, chemicals and materials, even to the most specialized categories. We are committed to providing information that helps companies better understand their target markets. We understand that making sense of the vast maze of data can be overwhelming for businesses. That’s why focus on offering information that can really make a difference in terms of results.

Specialties: Competitor Tracking, Custom Research, Syndicated Research, Investment Research, Social Media Research, Business Intelligence, Industry Analysis, Thought Leadership.

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