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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Motorcycle Market Trends
Motorcycles Sales Show Growing Trends; Leading Companies are Expanding Operations and Looking to Offer New and Improved Bikes
In 2022, it was reported that Hero MotoCorp sold over 28 lakh units in the first six months of FY 2022- 23. This was a double-digit growth of over 14% during the corresponding period of the previous fiscal year. In September 2023, Hero MotoCorp dispatched nearly 519,980 units of motorcycles and scooters. In 2021, Hero MotoCorp expanded operations and inaugurated a flagship dealership in Argentina to make new investments and create 500 new jobs.
In 2021, Royal Enfield launched the all-new Classic 350, offering its quintessential, timeless and retro-styled features with all the foundations of a contemporary motorcycle. The motorcycle offered a smoother and refreshing ride experience; it featured a modern J-series engine with an all-new chassis, and came in 5 variants with eleven colourways. Such developments 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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Australia
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India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124