Brooklyn, New York`, May 23, 2022 (GLOBE NEWSWIRE) -- Reports and Insights have published a new report titled, “Motorcycle Market: Opportunity Analysis and Future Assessment 2022-2030” analyzed by Type (Adventure, Cruiser, Mopeds, Sports, Standard, and Touring), By Routing Mode Type (Off-Road & On-Road), By Engine Capacity (Up to 150 CC, 151-300 CC, 301-500 CC, 501-800 CC, 801-1000 CC, 1001-1600 CC, and Above 1600 CC), By Engine Type(2 Stroke & 4 Stroke), By Bore Size (30 - 60 mm, 60 - 80 mm, 80 -100 mm, and 100 and Above), By Price Range (Premium, Mid-range, and Low-range), By Technology (IC Engine Motorcycles, Electric Motorcycles, and Hybrid Motorcycles) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030. The global motorcycle market is expected to reach at a value of US$ 530.0 Bn by 2030 end at a CAGR of 6.4%. In 2021, Asia Pacific region is accounted for the largest market share in comparison to other regions.
Motorcycle Introduction
A motorcycle, also popularly known as a bike or motorbike, is basically a two-wheeled motor vehicle equipped with an internal-combustion engine that propels the vehicle and other multiple electric and mechanical elements. The motorcycle is designed in several different ways as per different applications including long-distance travel, cruising, commuting, racing and other sports activities as well as off-road riding.
Moreover, after the rapid evolution and the constant advances in the automotive industry, the key manufacturers of the market focused on the improvement in various attributes of the motorcycle, such as improved mileage, air-cooled engines, larger fuel tanks, and unique horns, bucket seats and many more innovative features.
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Motorcycle Market Dynamics
One of the major factors that is primarily driving the demand of motorcycles all across the markets is the rising demand for affordable and efficient modes of transportation which is predicted to elevate the market growth significantly over the forthcoming years as the worldwide middle-class population is proliferating tremendously.
Motorcycles are progressively being observed as a reliable and reasonable alternative, and therefore, demand for scooters and motorcycles is projected to rise over the years. In addition to that, the key players of the market, witnessing the soaring demand worldwide, are constantly focusing on equipping motorbikes and scooters with various advanced leading-edge technology further enhancing the comfort and safety of the users. Such factors are further playing a significant role in propelling the growth of the global motorcycle market.
Moreover, the latest models of motorbikes with advanced technologies are swiftly appealing to the young consumers worldwide, thereby estimated to accelerate the market growth in the following years. Furthermore, in the present day’s contemporary world, the trend of electric vehicles has risen considerably to have numerous benefits over conventional motorcycles owing to a range of beneficial properties such as quiet operations, fuel efficiency, and negligible noise. Said factors are further projected to offer significant growth to the global motorcycle market over the coming years.
Motorcycle connoisseurs can point out millions of reasons for their zeal and passion for two-wheels. Every motorcycle enthusiast has their own personal tale about why they ride. Amongst these, are overall cost/fuel efficiency, camaraderie, eco-friendly attributes, the connotation of adventure, the comfort of parking, the potential to ride through traffic as well as the entire image. In recent days, more and more people have understood that motorcycles are less about their feasibility and practicality as a substitution vehicle. On the contrary, they have transformed into lifestyle vehicles for freedom on the road as well as recreational purposes. If one is looking to go about town in a smaller vehicle, he is likely to want to prefer motorcycles as a transport alternative. In the same vein as pedal bikes, they are remarkably simple to fit into insignificant spaces which makes them convenient to park away in the garage in a secure place. It is also simple to find parking for the motorcycle and an individual can generally drive on smaller paths and roads if one is in a rural area. Moreover, motorcycles are prompt to get going and head to a local store and they are reliable when one just needs to travel a short distance.
Other than that, motorcycles are the absolute white canvas for an individual to add their own favorite and personalized customizations. Whether it is a custom paint job, unique wheels or vinyl decals, there is an innumerable range of options for one to personalize their bike. In addition, there are also numerous tuning options available to dive in for high-end motorcycles. In fact, there is no chance two bikes can look the same thanks to a whole lot of alternatives available in present times. Thus, the soaring adoption of motorcycles as affordable and personal transport is projected to primarily drive the market growth of motorcycles over the following years.
To view Top Players, Segmentation and other Statistics of the Motorcycle Industry, Read Report Description: https://reportsandinsights.com/pressrelease/motorcycle-market
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| Base Year: | 2021 | Forecast Period: | 2022-2030 |
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| Key Players: | Yamaha Motor Co., Ltd., Suzuki Motor Corp., Honda Motor, Hero Motor, Eicher Motors, Harley Davidson Motor, Ducati, Kawaski, Triumph Motorcycles, Bayerische Motoren Werke (BMW) AG, Polaris Industries Inc. and among others | ||
| Key Dynamics: |
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| Market Size: | US$ 530.0 Bn by 2030 | CAGR (2021 -2028): | 6.4% |
Motorcycle Market Segmentation
The global motorcycle market is segmented on the basis of product, technology and region.
By Product
Motorcycles
Standard Motorcycles
Cruiser
Sports Motorcycles
Mopeds
Electric Motorcycles
Others
Scooters
Standard Scooters
Maxi Scooters
Enclosed Scooters
Three-wheeled Scooters
Electric Scooters
By Technology
IC Engine Motorcycles
Up to 150cc Motorcycles
151-300cc Motorcycles
301-500cc Motorcycles
Above 500cc Motorcycles
All Electric Motorcycles
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Motorcycle Market Key Players
The key participating players of the global motorcycle market include Yamaha Motor Co., Ltd., Suzuki Motor Corp., Honda Motor, Hero Motor, Eicher Motors, Harley Davidson Motor, Ducati, Kawaski, Triumph Motorcycles, Bayerische Motoren Werke (BMW) AG, Polaris Industries Inc., Piaggio & C. SpA, Vmoto Ltd., Zero Motorcycles, Moriwaki, Horex, Bridgestone, Daelim, KR Motors, Bajaj Auto, Mahindra, Royal Enfield, TVS Motors, Ather Energy, Jawa Motors, Baotian Motorcycle, Chang Jiang, Dayun, Evoke Motorcycles, Jincheng Suzuki, Keeway, CFMoto, Lifan, Niu Technologies, Thumpstar, Aeon Motor, Kymco, PGO, SYM, Taiwan Golden Bee, and Hartford, and among others.
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