In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
The global motorcycle market garnered a revenue of USD 98774.4 Million in the year 2020 and is further expected to reach USD 147054.4 Million by the end of 2030 by growing with a CAGR of 3.8% during the forecast period, i.e., 2021-2030. The growth of the market can primarily be attributed to the growing need for cost-effective private transportation amongst individuals worldwide, followed by the growing trends of two-wheeler adventure sports and racing, and for the increasing availability of a wide range of motorcycles with different engine sizes. Moreover, growing demand for energy-efficient transportation systems, increasing initiatives by the government of nations worldwide to support electric motorcycles by providing subsidies and tax rebates, and the escalating prices of petroleum products worldwide, are some of the additional factors expected to drive the market growth. Moreover, backed by the rising incidences of motorcycle fatalities, there is a growing focus amongst the motorcycle manufacturers to develop enhanced safety vehicles, which is anticipated to drive the market growth. According to the statistics by the National Highway Traffic Safety Administration (NHTSA) of the U.S. Department of Transportation, around 84000 motorcyclists were injured in the year 2019.
Regionally, the global motorcycle market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World. Amongst the market in these regions, the market in the Asia Pacific region is expected to hold a significant share during the forecast period. The growth of the market in the region can primarily be attributed to the increasing production of both electric and non-electric two-wheelers in the region. The sales of non-electric motorcycles in the region in the year 2020 recorded to around 33000 Thousand units, whereas that of electric motorcycles was close to 1300 Thousand units. Moreover, it has also been found that the production of electric motorcycles below 200CC has witnessed a massive growth, which is also anticipated to drive the market growth in the region in the coming years. CLICK TO DOWNLOAD SAMPLE REPORT
The global motorcycle market is segmented by type into motorbike, light motorcycle, electric bikes, sports motorbike, moped, ice motorcycle, scooter, and others. Amongst these, the sports motorbike segment is expected to hold the largest market share throughout the forecast period and further attain a market revenue of USD 71173.8 Million by the end of 2030, up from a revenue of USD 49836.6 Million in 2020. The market is also segmented on the basis of engine type into less than 200CC, 200-400CC, 400-600CC, 600-800CC, 800-1000CC, and above 1000CC. Amongst these segments, the above 1000CC segment is expected to hold the largest market share in the coming years and further reach a market revenue of USD 63233.2 Million by the end of 2030. The market is also segmented on the basis of application into daily commute, racing, off road, and others. Amongst these segments, the racing segment is expected to garner the largest market revenue of USD 57826.6 Million by the end of 2030.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global motorcycle market that are included in our report are Bayerische Motoren Werke (BMW) AG, Ducati Motor Holding S.p.A., Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., and others.
Ans: The growing adoption of electric two wheelers worldwide is one of the major factors anticipated to drive the market growth in the coming years.
Ans: The market is anticipated to attain a CAGR of 3.8% over the forecast period, i.e., 2021-2030.
Ans: The growing concern for the safety related issues with motorcycles is one of the major factors estimated to hamper the market growth.
Ans: The major players in the market are Bayerische Motoren Werke (BMW) AG, Ducati Motor Holding S.p.A., Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, engine type, application, and by region.
Ans: The sports motorbike segment is anticipated to hold largest market size in value and display significant growth opportunities.