Motorcycles, Scooters and Mopeds

Motorcycles, Scooters and Mopeds

Global Motorcycles, Scooters and Mopeds Market to Reach 76.8 Million Units by 2030

The global market for Motorcycles, Scooters and Mopeds estimated at 51.3 Million Units in the year 2023, is expected to reach 76.8 Million Units by 2030, growing at a CAGR of 5.9% over the analysis period 2023-2030.

The U.S. Market is Estimated at 439.6 Thousand Units While China is Forecast to Grow at 6.1% CAGR

The Motorcycles, Scooters and Mopeds market in the U.S. is estimated at 439.6 Thousand Units in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of 12.4 Million Units by the year 2030 trailing a CAGR of 6.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.7% and 4.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.

Global Motorcycles, Scooters and Mopeds Market - Key Trends & Drivers Summarized

Motorcycles, scooters, and mopeds have long been popular modes of transportation worldwide, offering distinct features and advantages tailored to different consumer needs. Motorcycles are typically larger, more powerful vehicles designed for speed and longer distances. They come in various styles, including cruisers, sportbikes, and touring bikes, each catering to specific riding preferences and purposes. Scooters on the other hand are smaller and more economical, often featuring automatic transmissions and a step-through frame, making them ideal for urban commuting and short trips. Mopeds, the smallest of the three, combine elements of both motorcycles and bicycles, often featuring a small engine and pedals, and are best suited for short, low-speed journeys. Each of these vehicles caters to diverse market segments, from thrill-seekers and long-distance travelers to urban commuters and those looking for an economical and eco-friendly mode of transport.

The technological advancements in motorcycles, scooters, and mopeds have significantly enhanced their performance, safety, and user experience. Modern motorcycles boast advanced braking systems, traction control, and customizable ride modes, which enhance both safety and performance. Electric scooters and mopeds have surged in popularity due to their environmental benefits, low maintenance costs, and ease of use. These vehicles are increasingly equipped with smart features such as GPS navigation, Bluetooth connectivity, and smartphone integration, making them more convenient and appealing to tech-savvy consumers. Additionally, the development of lighter, more efficient engines and improved battery technologies has extended the range and reduced the weight of these vehicles, making them more practical for everyday use.

The growth in the motorcycles, scooters, and mopeds market is driven by several factors. Rising personal mobility needs of the growing global population, increasing number of young and middle class population, rising employment rates and improving disposable incomes are all poised to benefit the market growth in the near to mid-term. Further, the ongoing, fast paced urbanization in several developing countries in Asia-Pacific, Latin America and the Middle East and lack of efficient and effective public transportation systems in most parts of these regions, and traffic congestions and stringent emission norms in developed regions such as the US, Canada, and Europe would help significantly widen the unit sales of motorcycles, scooters and mopeds. Improvement in road infrastructure in several parts of the world is another factor encouraging the demand for powered two-wheelers, globally. Technological advancements, particularly in electric vehicle (EV) technology, have led to a surge in electric scooter and moped sales, driven by consumer demand for environmentally friendly alternatives. Changing consumer preferences, with a shift towards more economical and sustainable modes of transportation, also play a significant role. Additionally, government incentives and subsidies for electric vehicles, along with stricter emissions regulations, have accelerated the adoption of electric motorcycles, scooters, and mopeds. The rise of the sharing economy, with the proliferation of ride-sharing and rental services, has further expanded the market, providing convenient access to these vehicles without the need for ownership. Overall, the market`s growth is propelled by technological innovation, urban mobility needs, environmental consciousness, and supportive regulatory frameworks.

Select Competitors (Total 127 Featured) -

• Honda Motor Co., Ltd.
• Kawasaki Heavy Industries Ltd.
• Mahindra & Mahindra Ltd.
• Polaris Industries, Inc.
• Bajaj Auto Ltd.
• Eicher Motors Ltd.
• Piaggio Group (Piaggio & C. SpA)
• Hero MotoCorp Ltd.
• KTM AG
• Kwang Yang Motor Co., Ltd. (KYMCO)
• Loncin Universal Power Ltd.
• Razor USA LLC.
• Moto Guzzi
• Mutt Motorcycles Limited
• e-bility GmbH (Kumpan electric)

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