Pune, India, April 13, 2022 (GLOBE NEWSWIRE) -- The global motorcycle market size is predicted to reach USD 223.50 billion by 2029 and exhibit a CAGR of 8.4% during the projected period. Fortune Business Insights has presented this information in its report titled, “Motorcycle Market, 2022-2029”. The market stood at USD 119.33 billion in 2021 and USD 127.44 billion in 2022.
Market to Acquire Greater Demand Post COVID-19 Outbreak
The rapid spread of COVID-19 around the world had a severe impact on people's health and lifestyle, causing the global economy to tank. However, industries are gradually dealing with damage after the lockdown, but the retrieval rate remains consistent. The industry is expected to grow following the pandemic as people will avoid public transportation to avoid catching or spreading the virus.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/motorcycle-market-105164
Report Insights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2021 to 2028 CAGR | 8.4% |
| 2029 Value Projection | USD 223.50 billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 127.44 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 200 |
| Segments covered | Standard, Sports and Cruiser |
| Growth Drivers | Manufacturers to Adopt Advanced Technologies to Drive Market Growth |
| Asia Pacific to be Dominant Region of Global Market |
Drivers & Restraints-
Manufacturers to Adopt Advanced Technologies to Drive Market Growth
Motorbikes have become more complex and fashionable in terms of safety, comfort, and luxury due to increased adoption of cutting-edge technologies. For example, the invention of Anti-lock Braking System (ABS) is gaining popularity among manufacturers, indirectly increasing sales. ABS maintains the bike's stability during sharp turns and emergencies by combining ABS and throttle control, an Inertial Measurement Unit (IMU) data. Despite the rapid development of motorized two-wheelers, owing to their various advantages and advancements, the increasing risk of road accidents for riders often limits the motorcycle market growth.
Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/motorcycle-market-105164
Regional Insights-
Asia Pacific to be Dominant Region of Global Market
In 2021, the Asia Pacific market was worth USD 78.94 billion. Due to high demographic growth, larger middle and lower-middle-class income populations, and an increasing preference for private transportation over public transportation, the region will dominate the motorcycle market share.
North America holds a significant share of the global market due to the high demand for a wide variety of motorbikes such as standard, sports, cruisers, and touring, which is propelling growth in this region.
Europe has a well-established market, which is expected to grow further over the forecast period. The regional market is highly profitable for manufacturers due to the adoption of advanced technologies, highly advanced manufacturing hubs, and increasing demand for various motorbikes.
Segments-
On the basis of type, the market is divided into standard, sports, and cruiser. On the basis of propulsion type, the market is bifurcated into electric and ICE. Geographically, the market is classified into Europe, Asia Pacific, North America, and the Rest of the World.
Quick Buy - Motorcycle Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/105164
Report Coverage-
The motorcycle market report provides a comprehensive analysis of the market, focusing on key aspects such as leading companies, product types, and leading product applications. Apart from that, the report provides insights into market trends and highlights key industry developments. In addition to the factors mentioned above, the report includes a number of other factors that have contributed to the market's growth in recent years.
Competitive Landscape-
Honda Motors to Lead Global Market
Honda Motor Co. Ltd. is the world's largest manufacturer of motorbikes. With over 14 million internal combustion engines produced each year, the company is one of the leading manufacturers of internal combustion engines. The total volume of production in 2019 reached 400 million units. It wants to be the leader in advancing mobility by developing world-first technologies and providing riders with the highest level of safety. Furthermore, other players, such as Eicher Motors, Bajaj, Yamaha, and TVS Motors, are focusing on entering the electric vehicle market by establishing new manufacturing plants and converting existing motorbikes and scooters to electric vehicles.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/motorcycle-market-105164
Industry Development-
February 2022- Suzuki Malaysia announced to launch Belang 150, GSX-R150 sportsbike, GSX-150 by March 2022. The Belang 150, as a 'fresh' entrant into the Malaysian kapchai category, will most likely not bear the Belang brand domestically. In Indonesia, the Belang is known as the "Satria F150," which, for numerous reasons, will not be utilized to prevent confusion with the national automobile maker's compact convertible.
List of Key Market Players:
- Honda Motor Co., Ltd. (Japan)
- Piaggio & C.SpA (Italy)
- TVS Motor Company Ltd. (India)
- Yamaha Motors Co. (Japan)
- Suzuki Motor Corporation (Japan)
- Triumph Motorcycles (U.K.)
- Zero Motorcycles, Inc. (U.S.)
- Bayerische Motoren Werke (BMW) AG (Germany)
- Harley-Davidson, Inc. (U.S.)
- Hero MotoCorp Ltd. (India)
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/motorcycle-market-105164
Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Merger, Acquisitions, and Partnerships
4.2 Distributor Analysis – For Major Players
4.3 Growth and Penetration Analysis
4.4 Porter’s Five Forces Analysis
4.5 PEST Analysis
4.6 Vendor Landscape
5. Global Motorcycle Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1 Standard
5.2.2 Sports
5.2.3 Cruiser
5.3. Market Analysis, Insights and Forecast – By Propulsion Type
5.3.1 Internal Combustion Engine (ICE)
5.3.2 Electric
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Rest of the World
Continued…
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
