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Motorcycle Market

Motorcycle Market

Motorcycle Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Motorcycle Market
FACT7MR
  • Feb-2021
  • List of Tables : 84
  • List of Figures : 94
  • 170 Pages
  • Automotive

About the Report

Growing adoption of motorcycles as a cost-effective private transport has been widespread over the past decade. Motorcycle market projects a steady growth rate of 3.5% CAGR through 2021-2031.

While advancements in the automotive sector have fuelled sales substantially, macro-economic factors such as increase in disposable income and rising urban population are further boosting the sales of motorcycle across regions.

A new study by Fact.MR provides a holistic overview of the global motorcycle market, along with new trends, growth drivers, restraining factors, and demand-supply trajectories across the globe, with focus on lucrative regions such as Asia Pacific, Europe, and North America.

Motorcycle industry sales accounted for US$ 124 Billion in 2021, which is expected to witness a lucrative growth rate at a CAGR 3.5% to surpass a value of US$ 180 Bn in 2031.

Historical & Future Outlook of Motorcycle Market

Increase in requirement of motorcycles for various purposes such as adventure, sports, daily transport, and others has bolstered demand over the past decade. Due to having better gas mileage and customization options such as Bluetooth speaker systems, unique horns, bucket seats, and others, motorcycles have taken prominence in the buying lists of a broad range of consumers.

As a result, manufacturers have experienced rise in demand during the last 5 years from 2016 to 2020.

While technical advancements have enabled motorcycle manufacturers to equip them with more sophisticated components, sky-high demand from sports enthusiasts, college goers, various professionals, travelers, and others is significantly spurring the growth of manufacturers.

According to Fact.MR, the global motorcycle market will experience even higher growth throughout the forecast period from 2021 to 2031.

Know More Details About the Report

How is Demand Rising for Various Types of Motorcycles?

Rise in demand for motorcycles has enabled manufacturers to come up with a wider variety in order to widen their growth scope. According to a report published by the MotorCycles Data on 30th December 2020, the United States motorcycles industry in 2020 has been pumped up by the ATV/RUV segment, which reported huge growth. As per its report, increase in requirement has resulted in over 4% growth in production in the U.S. in 2020.

As stated in a report published by the European Commission (EC), various precautionary measures are being taken by motorcycle manufacturers in order to prevent road accidents of motorcyclists.

For instance, as part of its commitment to the European Road Safety Charter, Honda has pledged to increase the installation of advanced braking systems. This, in turn, is aiding the rise in demand for motorcycles across regions.

Are Technical Advancements Working in Favour of Motorcycle Manufacturers?

With the incorporation of cutting-edge technologies, motorcycles have become more sophisticated in terms of safety, luxury, and comfort. For instance, the invention of anti-lock braking systems (ABS), which is gaining popularity among manufacturers, is indirectly fuelling sales. ABS uses inertial measurement (IMU) data, along with ABS and throttle control, in order to keep the bike stable in tight turns and emergency situations.

Modern motorcycles are often equipped with slipper clutches, which are designed to partially disengage when the rear wheel tries to drive the engine faster than it would run under its own power. Originally developed for high-performance super-sport bikes and track-only machines, slipper clutches have more widespread application now.

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What are the Key Challenges Faced by Motorcycle Manufacturers?

While motorcycles are gaining rapid traction owing to their several advantages, increased risk of road accidents for motorcyclists often works as a restraining factor for the market.

According to the European Commission (EC), approximately 80% of motorcyclists killed on European roads sustained head impacts, and in half of these cases, head injury was the most serious.

As stated in its report, motorcycle use is the most dangerous mode of road travel, while more than 6,500 motorized two-wheeler users die each year in the EU (15), and the risk of death for motorcyclists is 20 times that of car occupants.

Various initiatives and campaigns to spread awareness regarding the use of helmets and taking other precautionary measures are expected to help manufacturers in overcoming such restraints.

Also, adoption of modern safety features in motorcycles are anticipated to lower such risks.

motorcycle market

Country-Wise Analysis

What Makes Germany a Lucrative Market for Motorcycle Manufacturers?

Germany is the leading country of the world’s second-largest market of motorcycles, Europe. Backed by highly advanced manufacturing hubs and rising demand for various type of motorcycles, Germany is highly lucrative for motorcycle manufacturers.

According to a report published by the MotorCycles Data in January, 2021, the German motorcycle industry, in 2020, was one of the fastest-growing in the world.

As per its report, the German motorcycle industry grew 50.6% in the third quarter, 46.9% in October, and 98.1% in November, to end the year with 309.1% growth. This depicts the high potential of Germany worth exploring by motorcycle manufacturers.

Why is the United States Motorcycle Market in the Spotlight?

The United States, being the epicenter of the world’s third-largest motorcycle market, North America, is in the focus of manufacturers. High demand for a wide variety of motorcycles such as cruisers, standard, touring, and others is propelling growth in the United States.

According to a report titled “Motorcycle Trends in the United States”, published by the Bureau of Transportation Statistics on 21st May 2017, motorcycle registrations in the United States have grown each of the past 10 years, from 3,826,373 in 1997 to 6,678,958 in 2006 - a 75% overall increase, and have been growing at even higher rates since then, except a slight decline in 2007 and 2020. This data indicate ample of opportunities awaiting motorcycle manufacturers in the country.

Why is India a Heavyweight for Motorcycle Manufactures?

India, being the main country of the world’s largest motorcycle market, Asia Pacific, is in the limelight for stakeholders.

Highly advanced manufacturing infrastructure, abundance of raw material, and growing requirement of various motorcycles are bolstering growth in India.

According to a report published by the MotorCycles Data on 4th January 2021, despite reporting the deepest loss ever with 14.8 million sales (-23.3%) in 2020, Q4 sales recovery was strong in India, ending with December up a huge 32%, while rural area resilience pushed up Indian manufacturers’ market share.

With India recovering from COVID-19 fast, sales are expected to increase in the coming years, making it a main contributor to the exponential growth of the Asia Pacific motorcycle market.

Why are Motorcycle Manufacturers Eyeing China?

China is another key region in the Asia Pacific market, and is expected to sustain its position throughout the forecast period.

As per a report published by the MotorCycles Data on 29th December 2020, the Chinese motorcycle industry witnesses 1.6 million sales per year.

Furthermore, on 29th October, China’s top leadership finalized a blueprint of the 14th Five-Year Plan (2021-2025) and unveiled its “Vision 2035” program, which intends to catapult China to a “moderately developed economy” status in 15 years. This, in turn, is expected to spur growth of motorcycle manufacturers further in the near future.

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Category-Wise Insights

Which Motorcycle Type is Leading the Market?

Presently, cruisers is the leading segment in terms of motorcycle type. Cruisers are beginner-friendly, stylish, and equipped with advanced audio and motorcycle accessories, making those highly preferred by various consumers.

Other key segments fuelling the sales of manufacturers are adventure, mopeds, sports, standard, and touring.

Will Motorcycles with Engine Capacity 501-800 CC Exhibit Hegemony?

Currently, motorcycles with engine capacity 501-800 CC are dominating the market in terms of engine capacity. Being cost-effective while capable of providing required mileage, this segment is mostly preferred by motorcycle manufacturers.

Other key segments aiding growth of the market are motorcycles with engine capacity up to 150 CC, 151-300 CC, 301-500 CC, 801-1000 CC, 1001-1600 CC, and above 1600 CC.

Competitive Landscape

The global motorcycle market is fragmented and thriving on key players. In order to excel in this landscape, key market players are focusing on launching a wider variety of vehicles. For instance,

  • Bajaj Auto Limited launched its new extensive range of motorcycle equipment such as DTS-i, full LED headlamp with vertical auto headlamp on, twin projector headlamps, and others, in 2019.
  • Red Bull KTM Factory Racing’s Tom Vialle has been crowned 2020 FIM MX2 Motorcross World Champion. The company has started investing more to launch more products over the coming years.t

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Report Scope

Attribute

Details

Market size value in 2021

USD 124 Billion

Market forecast value in 2031

USD 180 Billion

Motorcycle Industry Growth Rate

CAGR of 3.5% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa
  • Oceania

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey, Northern Africa
  • South Africa

Key Segments Covered

  • Motorcycle Type
  • Engine Capacity
  • Region

Key Companies Profiled

  • 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 S.p.A
  • Kawaski Heavy Industries Ltd.
  • Triumph Motorcycles Limited
  • BMW AG
  • KTM AG
  • Polaris Industries Inc.
  • Lifan Industry (Group) Co., Ltd.

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Motorcycle Market Segmentation by Category

Motorcycle Type

  • Adventure
  • Cruiser
  • Mopeds
  • Sports
  • Standard
  • Touring

Engine Capacity

  • Up to 150 CC
  • 151-300 CC
  • 301-500 CC
  • 501-800 CC
  • 801-1000 CC
  • 1001-1600 CC
  • Above 1600 CC

Region

  • North America
  • Latin America
  • Europe
  • Middle East and Africa (MEA)
  • East Asia
  • South Asia
  • Oceania

Motorcycle Market - Scope of Report

A recent study by Fact.MR on the motorcycle market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining market growth.

This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of motorcycles.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.

A detailed assessment of the value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the motorcycle market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including demand, product development, revenue generation, and sales in the motorcycle market across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative markets for motorcycles?
  • Which factors will impact the growth of the motorcycle market?
  • How will changing trends impact the strategy of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the motorcycle market?
  • What are the winning strategies of stakeholders in the motorcycle market?

Inspected Assessment on Regional Segments

Key sections have been elaborated in the motorcycle market report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on demand for motorcycles has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the motorcycle market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the motorcycle market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases.

Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

Some of the top companies competing in the global motorcycle market are Eicher Motors Limited, TVS Motor Company Limited, Harley Davidson Motor Company Inc., and others.
The United States, India, China, Germany, the United Kingdom, Japan, and a few others are lucrative markets for motorcycles.
Presently, cruisers are the mostly sought-after in terms of type of motorcycle in this market space.
Currently, motorcycles with engine capacity 501-800 CC are mostly preferred by manufacturers, as they a

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.