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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Motorcycle Market Size
The global motorcycle market would likely grow at a CAGR of 8.5% during 2024-2032. Asia, North America and Europe are likely to be key markets.
Global Market Likely to be Driven by Advantages and Features Offered by Motorbikes, Such as Convenience, Cost-effective Means of Transport, and Attractive Offerings by Leading Companies
Motorcycles Offer a Lifestyle
Motorcycles are a convenient transport alternative; these require less parking space and are easy to ride on smaller paths. For many people, motorcycles represent a lifestyle and freedom on the road. Motorcycles are especially convenient when travelling short distances; these attributes are expected to boost the global motorcycle market.
Motorcycles Offer Many Options to Personalize
Motorcycles allow customisation, a feature that many individuals value. Examples may include custom paint jobs, vinyl decals or distinct wheels. Customization of gear can offer even more personalization options. Such customization options are likely to stimulate global motorcycle market growth.
Motorcycle Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 8.5% in the forecast period of 2024-2032.
The major drivers of the market include the thriving automotive industry, growing expansion of key market players, increasing awareness pertaining to the benefits offered by the vehicle, and increasing traffic congestion.
The growing research and development activities by the manufacturers aimed towards enhancing the design of motorcycles, rising prices of fuel, and thriving transportation and packaging industry, are the key trends in the market.
Standard, sports, and cruiser, among others are the different segments based on type.
ICE and electric are the different categories in the motorcycle market based on propulsion type.
The motorcycles manufactured by companies like Yamaha Motor Co., Ltd., Honda Motor Co., Ltd, Volkswagen Group (Ducati Motor), and Kawasaki Heavy Industries Ltd, among others, are considered as popular motorcycle options.
A motorcycle, on an average, can last between 10 to 15 years in case the vehicle has not suffered any major breakdown or external damage.
A motorcycle can typically travel 120 to 200 miles on a completely filled tank. However, sport bikes can go for 120 to 250 miles. The actual mileage varies depending upon the motorcycle model and manufacturer.
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