Motorcycle Market By Type (Standard, Sports, Cruiser, Adventure), By Propulsion Type (Internal Combustion Engine (ICE), Electric), By Price Range (Low, Mid, High): Global Opportunity Analysis and Industry Forecast, 2021-2031
The report incorporates the study of the global motorcycle market that focuses on the two-wheeled vehicle which is either run by an electric-driven engine or by means of a motor that is controlled by the ignition of conventional fuels. Motorcycles are made to a variety of specifications, each type featuring unique technologies serving its particular use – scooters which is used primarily for day-to-day mobility, such as commuting and shopping trips, whereas sports and cruiser models are used widely in urban areas and for long-distance touring, trail models for off-road excursions, and racing machines for road racing, motocross, and other competitions. Currently, most of the market players are concentrating on launching new vehicles with enhanced features at a reasonable price to attract sports enthusiasts. For instance, in December 2019, Yamaha launched the WR 155R dual-purpose motorcycle in Indonesia. This is the smallest off-road motorcycle under the WR range in the country and is priced at $2,339.3 (around Rs 1.87 lakh). The bike is built on a semi-double cradle frame with a box-section swingarm instead of the R15’s Deltabox-aluminium swingarm combo.
In recent years, e-mobility has witnessed significant increase. Electric vehicles are projected to have an advantage over conventional motorcycles due to a variety of characteristics such as fuel efficiency, quiet operations, and minimal noise. Moreover, as emission standards become stringent, demand for alternate modes of transportation is anticipated to rise. For instance, in December 2021, TVS Motor Company announced their long-term partnership with BMW Motorrad to develop new platforms and future technologies, including Electric Vehicles. Under this enhanced cooperation, both companies have identified a range of products and technologies to deliver significant business benefits.
Moreover, the market for motorcycles has increased significantly in rural areas as a result of rising disposable income and lack of well-established public transportation. Increased employment, improvements in disposable income, and rising traffic congestion is fueling demand for motorcycles in developing regions such as South Asia. In addition, the growth of motorcycles owing to their numerous innovations and rise in risk of accidents are the major restraint during the forecast period. Head injuries result from numerous auto accidents and hence, it is quite unsafe to use the motorcycles. Data from the European Commission show that head injuries were present in around 80% of motorcycle fatalities. In Europe, more than 6,500 two-wheeler riders lose their lives each year, and the risk of mortality for riders is 20 times more than that of passengers. Governments and NGOs, however, have started several campaigns urging people to drive while wearing helmets and other safety gear.
For the purpose of analysis, the global motorcycle market is segmented on the basis of type, propulsion type, price range, and region. By type, the market is divided into standard, sports, cruiser, and adventure. By propulsion type, it is fragmented into internal combustion engine (ICE) and electric. By price range, it is categorized into low, mid, and high. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the motorcycle market are Bayerische Motoren Werke (BMW) AG, Harley-Davidson Inc., Honda Motor Co., Ltd., KTM AG, Piaggio & C. SpA, Suzuki Motor Corporation, Triumph Motorcycles, TVS Motor Company Ltd., Yamaha Motor Co., and Zero Motorcycles, Inc.
KEY BENEFITS FOR STAKEHOLDERS
This study presents analytical depiction of the global motorcycle market analysis along with current trends and future estimations to depict imminent investment pockets.
The overall motorcycle market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global motorcycle market with a detailed impact analysis.
The current motorcycle market is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Type
Standard
Sports
Cruiser
Adventure
By Propulsion Type
Internal Combustion Engine (ICE)
Electric
By Price Range
Low
Mid
High
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Harley-Davidson Inc.
TRIUMPH MOTORCYCLES
SUZUKI MOTOR CORPORATION
Piaggio & C. SpA
BMW AG
ZERO MOTORCYCLES, INC.
KTM AG
TVS Motor Company Ltd.
Yamaha Corporation
HONDA MOTOR CO.,Ltd
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