Motorcycle Market Size Worth $89.6 Billion By 2025 | CAGR: 3.8%
Published Date : 20 / 06 / 18 | Report Format: PDF
The global motorcycles market is expected to grow at growth rate of 3.8% to reach USD 89.6 billion by 2025.
Rising disposable income coupled with increasing leisure activities revolving around motorcycles such as bike stunts, racing, and off-road activities have stimulated the demand for motorcycles among customers, driving the industry growth significantly. Thereby, adoption of hybrid and electric motorcycles has increased over the past few years. The fact is justified by the steep increase in a number of motorcycle registration in the country. For example, as per the U.S. Department of Transportation, around 8,600,000 motorcycles were registered in the country in 2015, up more than 22% compared to the 2006 vehicle registration.
Also, the International Organization for Migration (IOM) stated that around 80% of the population in North America are living in the urban areas. It is estimated that around 3 million people have migrated to large-sized cities in 2015. This factors would, in turn, create demand for motorcycles, providing a healthy platform for the industry growth. However, strict regulations will hamper the industry growth to some extent.
- Of different products, motorcycle segment captured highest, i.e. above 70%, share of the overall market owing to the rising demand and uptake of motorcycles coupled with growing number of key players.
- Mopeds are considered to capture around 20% revenue share throughout the study period and are anticipated to grow with the significant growth rate in future.
- Regionally, Asia Pacific accounted for the highest share of the worldwide market. Large population base, rising per capita income coupled with growing demand for advanced motorcycles have surged the market demand for these products in Asia Pacific region.
- On another side, developed regions such as North America and Europe accounted for the significant revenue share owing to the rising demand for hi-tech advanced motorcycles among customers.
- The degree of competition in global motorcycle market is considered to be strong. Companies such as Harley Davidson, Honda Motor, Kawasaki, Yamaha, and Honda is profiled in detail with attributes such as company overview, financial highlight, and key development.
- Honda and Hero accounted for the highest share, generated more than 40% revenue share of the market’s value collectively.
- Companies operating in this industry are actively engaged in introducing new products with innovative features to capture large customer base. For instance, in July 2017, Indian Motorcycle introduced two motorcycles, Springfield Dark Horse (Bagger) and Roadmaster Elite (tourer) with the 2018 model lineup thereby expanding its product portfolio
- Likewise, in November 2016, Honda Motor Co., Ltd. introduced Rebel 300 and Rebel 500 in the U.S. thereby expanding its product offering
KEY BENEFITS OF THE REPORT:
- In-depth analysis of the key market dynamics
- Granular analysis of the current market scenario and expected factors to affect the market
- Detailed analysis of the geographic region, regional and county wise analysis
- Highlight on the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the market
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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