Motorcycle Market is Predicted to Reach a market value of US$ 187.5 Bn by 2031
September 23, 2022
Motorcycle Market Projection By Technology, Top Key Players, Demand, Segment, Regional Analysis Revenue Forecast Till – 2031
NEW YORK, NEW YORK, UNITED STATES, September 23, 2022 /EINPresswire.com/ -- Motorcycle Market 2022
As per industry analysis, the global "Motorcycle Market" is set to close in on a valuation of US$ 125 Bn in 2021. Sales of motorcycles are projected to increase at around 4% CAGR during 2021-2031, with the market expanding US$ 187.5 Bn over the same time period. Increasing demand for electric/hybrid motorcycles & scooters, rise in adoption of personal mobility owing to ease of accessibility & convenience, and inclination of young adults towards sports motorcycles are shaping market expansion.
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Increasing consumer preference for electric and hybrid motorcycles is anticipated to be a major factor driving global market expansion. Demand for affordable and efficient modes of transportation is projected to rise significantly over the coming years, as the middle-class population grows across the world.
Motorcycles and scooters are considered a viable option for the purpose of traveling and commuting. In addition, matured economies have witnessed increase in demand of recreational activities such as off-road trails, track racing, bike stunts, etc. This is expected to spur demand for high-capacity two wheelers.
Triumph Motorcycles Ltd.
Bajaj Auto Ltd.
BayerischeMotorenWerke (BMW) AG
Ducati Motor Holding S.p.A.
Eicher Motors Limited
Hero MotoCorp Ltd.
Honda Motor Co., Ltd.
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Key Takeaways from Market Study
South Asia & Pacific is expected to be the largest market for motorcycles, with a majority of sales coming from India.
Standard motorcycles are anticipated to register a healthy CAGR of around 4% throughout the forecast period, owing to their fuel efficiency and increased use in daily commuting.
Rising demand for standard scooters is expected to drive growth of the scooter market, especially in developing countries such as India.
Europe’s market for motorcycles witnessed a steady CAGR between 2% to 3%, with Germany emerging as a lucrative market.
The electric motorcycle segment recorded sluggish growth; however, demand for electric two wheelers is expected to rise significantly in the years to come.
“Demand for motorcycles is anticipated to witness significant growth owing to introduction of various new motorcycles and scooters, rising urban population, technological enhancements, increased fuel efficiency, and better affordability,” says a Persistence Market Research analyst.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Motorcycle Market Manufacturers
Motorcycle Market Distributors/Traders/Wholesalers
Motorcycle Market Subcomponent Manufacturers
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Key Questions Answered in the Motorcycle Market Report
How is the Motorcycle Market expected to grow over the projected period?
What direction is the Motorcycle Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Motorcycle Market in future?
What are the key market drivers in the Motorcycle Market?
What are significant opportunities and improvement areas for Motorcycle Market manufacturers?
What are the key developments and trends taking over the Motorcycle Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Motorcycle Market?
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