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Global Motorcycle Market to Grow by a CAGR of 3.8% During 2021-2030; Market to Witness Growth on Account of Growing Demand for Electric Motorcycles

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Research Nester published a report titled Motorcycle Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global motorcycle market in terms of market segmentation by type, engine type, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global motorcycle market is anticipated to grow with a CAGR of 3.8% during the forecast period, i.e., 2021-2030. The market is segmented by type into motorbike, light motorcycle, electric bikes, sports motorbike, moped, ice motorcycle, scooter, and others, out of which, the sports motorbike segment is expected to hold the largest market share throughout the forecast period. The segment garnered a revenue of USD 49836.6 Million in 2020 and is further projected to reach USD 71173.8 Million by the end of 2030.

The global motorcycle market is expected to reach USD 147054.4 Million by the end of 2030, up from a revenue of USD 98774.4 Million in the year 2020. Increasing need for cost-effective private mode of transportation amongst individuals worldwide, followed by the rapid advancements in two-wheeler technologies, and the increasing availability of a wide range of motorcycles are some of the significant factors expected to drive the market growth.

The global motorcycle market is also segmented on the basis of region into four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World, out of which, the market in the Asia Pacific region is expected to hold a significant share during the forecast period, backed by the rapid production of electric and non-electric two-wheelers in the region, followed by the increasing population in countries such as China and India, and for the growing urbanization in the region.

Rising Adoption of Electric Motorcycles to Boost Market Growth

Backed by the growing concern for the environment and the increasing fuel prices, two-wheeler manufacturers are increasingly shifting their focus towards green transportation by the development of electric motorcycles. Moreover, with the increasing advancements in automotive technologies, and the development of motorcycles that can deliver extended mileage at lower costs, the demand for such motorcycles is expected to grow significantly in the coming years, and in turn drive the market growth.

However, growing concern for the safety related issues with motorcycles is expected to operate as key restraint to the growth of global motorcycle market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global motorcycle market which includes company profiling of Bayerische Motoren Werke (BMW) AG, Ducati Motor Holding S.p.A., Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global motorcycle market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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