Global Motorcycle Market Report and Forecast 2024-2032

Global Motorcycle Market Report and Forecast 2024-2032

Global Motorcycle Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global motorcycle market is projected to grow at a CAGR of 8.5% between 2024 and 2032. Aided by the soaring need for affordable and efficient modes of transportation, as well as the evolving landscape of urban mobility, the market is expected to grow significantly by 2032.

Motorcycles, encompassing a broad spectrum of two-wheelers from scooters to high-powered bikes, have long been cherished not only as symbols of freedom and expression but also as practical tools for navigation, particularly in densely populated urban areas. They offer unparalleled advantages in terms of fuel efficiency, manoeuvrability, and reduced carbon emissions, making them especially appealing in today’s environmentally conscious era.

A surge in the global urban population, coupled with the escalating challenges of traffic congestion and the dire need for sustainable transportation, has fuelled the motorcycle market growth. As cities expand and roads become increasingly congested, the nimbleness of motorcycles offers a compelling solution, enabling quicker transit times and reduced fuel consumption.

Moreover, the motorcycle has etched its position in the global market due to its affordability. For many in emerging economies, motorcycles serve as the stepping stone to personal mobility, bridging the gap between public transportation and pricier four-wheelers. Their cost-effectiveness, both in terms of initial investment and maintenance, makes them especially appealing to a vast demographic of users.

As per the motorcycle market analysis, technological advancements further refine the appeal of motorcycles. Modern variants come equipped with cutting-edge safety features, electronic aids, advanced braking systems, and connectivity options, ensuring riders benefit from both enhanced performance and safety. Furthermore, the electric motorcycle segment, which boasts zero emissions, is experiencing tremendous growth, heralding a future where sustainable and eco-friendly two-wheelers could dominate urban landscapes.

The global affinity for leisure biking and motorcycle touring also impacts the motorcycle market outlook. High-powered motorcycles, representing luxury, thrill, and status, have seen consistent demand, especially in developed economies. Brands that evoke heritage, culture, and adventure, such as Harley-Davidson and Royal Enfield, continue to thrive, reflecting a segment of consumers who view motorcycles not just as mere vehicles but as extensions of their identity and passion.

Market Segmentation

The market can be divided based on type, propulsion type, and region.

Market Breakup by Type

• Standard
• Sports
• Cruiser
• Others

Market Breakup by Propulsion Type

• ICE
• Electric

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global motorcycle market. Some of the major players explored in the report by Expert Market Research are as follows:

• Yamaha Motor Co., Ltd.
• Honda Motor Co., Ltd
• Volkswagen Group (Ducati Motor)
• Kawasaki Heavy Industries Ltd
• Triumph Motorcycles Ltd
• BMW AG
• Harley-Davidson, Inc.
• Suzuki Motor Corporation
• Piaggio & C. SpA (Aprilia)
• KTM AG
• Bajaj Auto Ltd.
• TVS Motor Company Limited
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.