The Motorcycle Market is poised to grow at a CAGR of 4% over the assessment period (2020-2030)

Future of Market Research

Use of advanced technologies by manufacturers to support the growth of the motorcycle industry

New York, U.S., May 09, 2022 (GLOBE NEWSWIRE) — Overview of the motorcycle market:
According to a comprehensive research report by Market Research Future (MRFR), “Motorcycle Market Insights by Type and Region – Forecast to 2030”, the market size is expected to grow at a compound annual growth rate of 4% by 2030.

Market scope:
The growing preference of motorcycles by customers as private transportation with off-road travel will provide lucrative opportunities for the motorcycle market over the forecast period.

The Dominant Key Players in the Motorcycle Market Covered Are:

  • Honda Motor Co.Ltd. (Japan)

  • Suzuki Motor Corporation (Japan)

  • Polaris Industries Inc. (USA)

  • Yamaha Motor Co. Ltd. (Japan)

  • Harley-Davidson Inc. (USA)

  • 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 SpA (Italy)

  • Eicher Motors Limited (India)

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Exclusively encompassed USP market:
Market factors
Use of advanced technologies by manufacturers to support market growth
The use of advanced technologies by motorcycle manufacturers will support the growth of the market over the forecast period. Motorcycles have become more complex and fashionable in terms of safety, comfort and luxury as advanced technologies have become more widely adopted. For example, the anti-lock braking system (ABS) is gaining acceptance by manufacturers, which indirectly boosts sales. ABS keeps the bike stable during fast turns and crunches by combining input from ABS, throttle control and Inertial Measurement (IMU). Hands-free and Bluetooth options are now being introduced in helmets to increase connectivity with other riders and eliminate the hassle of accepting calls/navigating with smartphones. Additionally, modern motorcycles are typically equipped with a slipper clutch, which is designed to partially disengage when the rear wheels attempt to move the engine faster than its power output. The friction clutch was originally designed for high performance sport bikes and athletic equipment, but is now in more widespread use.

Higher accident risk to act as market challenge
The higher risk of accidents may pose a challenge for the market during the forecast period. Despite the rapid growth of motorized two-wheelers due to their many advantages and innovations, the increasing risk of road accidents for the cyclist is frequently a limiting factor in the market.

Browse the in-depth market research report (118 pages) on the Motorcycle Market:

Market Segmentation Covered by Research:
The global motorcycle market is divided based on application, propulsion type, motorcycle type, and engine capacity.

By application, the motorcycles market is segmented into upright postures in standard motorcycles and wide grips with better cushion.

By propulsion type, the standard segment will dominate the market over the forecast period.

By type of motorcycle, the motorcycle market is segmented into touring, standard, sport, cruiser and adventure.

By displacement, the motorcycle market is further segmented into 1600cc, 1001-1600cc, 801-1000cc, 501-800cc, 301-500cc, 151-300cc and up to 150cc.

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Regional analysis
APAC to command the motorcycle market
APAC region will dominate the global motorcycle market during the forecast period. Due to the low cost of production and the availability of cheap labor, the Asia-Pacific region has become a focus area for automotive manufacturing. During the forecast period, China is expected to dominate the global motorcycle market. Due to the cheap price of labor and the abundance of raw materials in this country, China is the largest motorcycle producer in the world, followed by India. Due to an increase in demand for four-wheeled vehicles, China saw a dramatic reduction in global motorcycle market revenue in 2018, with sales and production volume falling below 14 million units. . India is the second largest motorcycle market in the world, owing to features like affordability, fuel efficiency, and small engine displacements of motorcycles. Due to road construction and infrastructure development, there has been a surge in demand for motorcycles in the rural areas of the country. Due to rapid population growth, rising middle and lower middle class income levels, and a growing preference for private transit over mass transit, the region dominates the market global. The Indian motorcycle sector is the largest in the world, accounting for over 40% of global sales. Despite Honda having a 14% market share as a stand-alone company, Indian OEMs control 77% of the entire market. Hero MotoCorp, meanwhile, is a major player alongside Bajaj Auto and TVS Motor. The Indian government is also promoting electric two-wheelers with programs like FAME-II, which offers incentives and tax exemptions to users. In addition, the Asia-Pacific market is expected to benefit from the largest sales and production in China, the growing need for cost-effective electric motorcycles for shorter trips in developing economies, and government support for two-wheelers. electricity during the forecast period.

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Impact of COVID-19 on the global motorcycle market
The rapid spread of the COVID-19 outbreak around the world has had a devastating effect on people’s health and lifestyles, causing the global economy to collapse. Industries, on the other hand, are gradually controlling the damage following confinement, with a steady pace of recovery. This industry is expected to grow in the wake of the pandemic, as individuals will avoid taking public transportation to avoid contracting or spreading the disease. Since local buses, trains and other means of public transport are often crowded, they are susceptible to contamination. As a result, consumers are likely to choose private transport, with two-wheelers/motorbikes being the most economical and practical option. Consumers in China and Western Europe have noted a new need for mobility during the outbreak to maintain social distancing and use different clean and undamaged devices. As cities emerge from quarantine in various regions, two-wheelers are increasingly seen as perfect mobility, according to bike manufacturers and industry professionals such as Honda, Triumph Motors and Harley Davidson. Also, due to government restrictions on public transport due to social distancing guidelines, commuters are choosing these types of bikes as their primary mode of transportation. According to the New York Times, motorcycle sales in the United States soared 85% in March 2020. As a result, the electric motorcycle industry is expected to grow faster after COVID-19.

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About Market Research Future:
Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis regarding various markets and consumers around the world. Market Research Future has the distinct objective of providing clients with top quality research and granular research. Our market research by products, services, technologies, applications, end users and market players for global, regional and country market segments enables our clients to see more, know more and do more , which helps answer your most important questions. questions.

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