The market report presents a thorough analysis segmented by Motorcycle Type (Standard, Sports, Cruiser, Touring, Others); by Propulsion Type (Internal Combustion Engine (ICE), Electric); by Engine Capacity (Up to 200cc, 200cc to 400cc, 400cc to 800cc, More than 800cc); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Outlook
- The motorcycles market is estimated to be at USD 133,484.80 Mn in 2024 and is anticipated to reach USD 179,318.27 Mn in 2029.
- The motorcycles market is registering a CAGR of 6.08% during the forecast period of 2024-2029.
- The motorcycle market is diverse and dynamic, with significant contributions from both developed and emerging economies. The market is segmented based on engine capacity, price range, and propulsion type.
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Ecosystem
- The participants in the global motorcycles industry are always developing their strategies to preserve a competitive advantage.
- These companies primarily use acquisitions, R&D, partnerships, and technological launches.
- Several important entities in the motorcycles market include Honda Motor Co., Ltd.; TVS Motor Co., Ltd.; Harley-Davidson, Inc.; Kawasaki Motors Corp., U.S.A.; Yamaha Motor Co., Ltd.; and others.
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Findings
Attributes | Values |
---|---|
Historical Period | 2018-2022 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Market Size (2024) | USD 133,484.80 Mn |
Market Size (2029) | USD 179,318.27 Mn |
Growth Rate | 6.08% CAGR from 2024 to 2029 |
Key Segments | Motorcycle Type (Standard, Sports, Cruiser, Touring, Others); Propulsion Type (Internal Combustion Engine (ICE), Electric); Engine Capacity (Up to 200cc, 200cc to 400cc, 400cc to 800cc, More than 800cc); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa) |
Key Vendors | Honda Motor Co., Ltd.; TVS Motor Co., Ltd.; Harley-Davidson, Inc.; Kawasaki Motors Corp., U.S.A.; Yamaha Motor Co., Ltd. |
Key Countries | The US; Mexico; Brazil; Argentina; China; India; Japan; Germany; Italy |
Largest Market | Asia Pacific |
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Trends
- Shift Towards Electric Motorcycles: The motorcycle industry is witnessing a shift towards electric models due to increasing environmental concerns and government incentives. In 2023, Honda announced the launch of its first fully electric motorcycle, aiming to capture the growing market for eco-friendly vehicles.
- Integration of Smart Technologies: The integration of smart technologies such as Global Positioning System (GPS), Bluetooth connectivity, and advanced rider assistance systems is becoming common. In 2023, Yamaha introduced a new motorcycle model with an integrated smart dashboard, offering real-time navigation and connectivity features.
- Customization and Personalization: There is an increasing trend towards customization and personalization of motorcycles to meet individual preferences and lifestyles. In 2023, Royal Enfield launched a new customization platform, allowing customers to personalize their motorcycles with a wide range of accessories and design options.
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Catalysts
- Increasing Urbanization: Urbanization is leading to increased traffic congestion, especially in densely populated cities. Motorcycles, being smaller and more maneuverable, are becoming a preferred mode of transportation for daily commuting. For example, in India, where urban areas are expanding rapidly, motorcycles are a popular choice due to their ability to navigate through congested traffic and offer convenient parking options.
- Government Incentives: Governments worldwide are promoting electric vehicles (EVs) through incentives such as tax rebates, subsidies, and reduced registration fees. This is particularly influential in the growth of the electric motorcycle segment. For instance, the European Union offers incentives for electric two-wheelers, contributing to increased sales and adoption of electric motorcycles.
- Growing Demand for Adventure Motorcycling: The adventure motorcycling segment is expanding, driven by a growing interest in outdoor and recreational activities. Adventure motorcycles, capable of handling both on-road and off-road terrain, are becoming increasingly popular. Companies like BMW and KTM are capitalizing on this trend by offering models specifically designed for long-distance touring and adventure riding.
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Restraints
- Environmental Regulations: Stringent environmental regulations on emissions and noise levels can impact the production and sales of motorcycles. In 2023, the European Union implemented new emission standards (Euro 5), requiring manufacturers to upgrade their models to meet stricter environmental criteria, increasing production costs.
- Infrastructure Limitations: The lack of adequate charging infrastructure for electric motorcycles poses a challenge to market growth. In many regions, charging stations are limited, making it inconvenient for users to charge their vehicles, especially on longer journeys. This infrastructure gap can deter potential buyers from opting for electric motorcycles, despite their environmental benefits.
- Compatibility Issues: Integrating new technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and advanced safety systems with existing motorcycle models can be challenging. In 2023, Ducati faced issues integrating their new AI-powered safety features with older models, leading to delays in product launches.
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Table of Contents
1.       Introduction 1.1.    Research Methodology 1.2.    Scope of the Study 2.       Market Overview / Executive Summary 2.1.    Global Motorcycles Market (2018 – 2022) 2.2.    Global Motorcycles Market (2023 – 2029) 3.       Market Segmentation 3.1.    Global Motorcycles Market by Motorcycle Type 3.1.1. Standard 3.1.2. Sports 3.1.3. Cruiser 3.1.4. Touring 3.1.5. Others 3.2.    Global Motorcycles Market by Propulsion Type 3.2.1. Internal Combustion Engine (ICE) 3.2.2. Electric 3.3.    Global Motorcycles Market by Engine Capacity 3.3.1. Upto 200cc 3.3.2. 200cc to 400cc 3.3.3. 400cc to 800cc 3.3.4. More than 800cc 4.       Regional Segmentation 4.1.    North America 4.1.1. The US 4.1.2. Canada 4.1.3. Mexico 4.2.    South America 4.2.1. Brazil 4.2.2. Argentina 4.2.3. Colombia 4.2.4. Chile 4.2.5. Rest of South America 4.3.    Asia Pacific 4.3.1. China 4.3.2. India 4.3.3. Japan 4.3.4. South Korea 4.3.5. Rest of Asia Pacific 4.4.    Europe 4.4.1. The UK 4.4.2. Germany 4.4.3. Italy 4.4.4. France 4.4.5. Spain 4.4.6. Rest of Europe 4.5.    The Middle East 4.5.1. Turkey 4.5.2. UAE 4.5.3. Saudi Arabia 4.5.4. Rest of the Middle East 4.6.    Africa 4.6.1. Egypt 4.6.2. South Africa 4.6.3. Rest of Africa 5.       Value Chain Analysis of the Global Motorcycles Market 6.       Porter Five Forces Analysis 6.1.    Threats of New Entrants 6.2.    Threats of Substitutes 6.3.    Bargaining Power of Buyers 6.4.    Bargaining Power of Suppliers 6.5.    Competition in the Industry 7.       Trends, Drivers and Challenges Analysis 7.1.    Market Trends 7.1.1.    Market Trend 1 7.1.2.    Market Trend 2 7.1.3.    Market Trend 3 7.2.    Market Drivers 7.2.1.    Market Driver 1 7.2.2.    Market Driver 2 7.2.3.    Market Driver 3 7.3.    Market Challenges 7.3.1.    Market Challenge 1 7.3.2.    Market Challenge 2 7.3.3.    Market Challenge 3 8.       Opportunities Analysis 8.1.    Market Opportunity 1 8.2.    Market Opportunity 2 8.3.    Market Opportunity 3 9.       Competitive Landscape 9.1.    Honda Motor Co., Ltd. 9.2.    TVS Motor Co., Ltd. 9.3.    Harley-Davidson, Inc. 9.4.    Kawasaki Motors Corp., U.S.A. 9.5.    Yamaha Motor Co., Ltd. 9.6.    Company 6 9.7.    Company 7 9.8.    Company 8 9.9.    Company 9 9.10.  Company 10 |
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Motorcycles Market – FAQs
1. What is the current size of the motorcycles market?
Ans. In 2024, the motorcycles market size is $133,484.80 Mn.
2. Who are the major vendors in the motorcycles market?
Ans. The major vendors in the motorcycles market are Honda Motor Co., Ltd.; TVS Motor Co., Ltd.; Harley-Davidson, Inc.; Kawasaki Motors Corp., U.S.A.; and Yamaha Motor Co., Ltd.
3. Which segments are covered under the motorcycles market segments analysis?
Ans. The motorcycles market report offers in-depth insights into Motorcycle Type, Propulsion Type, Engine Capacity, and Geography.