Motorcycle Market Outlook 2024: Key Industry News & Emerging Trends
The motorcycle market is undergoing significant transformation, driven by advancements in electric mobility and shifting consumer preferences towards sustainable and efficient transportation options.
| Motorcycle Market Statistics (2024) | Predictions and Insights | Source |
|---|---|---|
| 1. The Indian automobile sector acquired 27% YOY growth in April 2024. | The two-wheeler grew by 33% YOY, which indicates a robust demand rebound in the two-wheeler segment. | Contact us to view the source. |
| 2. In 2023-24, India exported 4,500,492 automobiles, with two-wheelers accounting for 76.8% of total exports. | The dominance of two-wheelers in India’s automobile exports highlights the sector’s strong global demand and the country’s leadership in manufacturing affordable and efficient motorcycles for international markets. | Contact us to view the source. |
| 3. Imports of motorcycles and parts in the United States decreased from USD 466.33 million in January 2024 to USD 462.47 million in February 2024. | The slight decline in U.S. motorcycle and parts imports suggests a potential softening in demand or adjustments in inventory levels, which could influence market strategies for suppliers and retailers. | Contact us to view the source. |
| 4. The Indonesian government has committed $455 million to subsidize the purchase of electric motorcycles, aiming to support the acquisition of 800,000 new electric motorcycles and convert 200,000 combustion motorcycles. | The initiative aligns with Indonesia’s broader goal of reaching net-zero emissions by 2060. | Contact us to view the source. |
Motorcycle Market – Key Takeaways
As the market continues to evolve, the adoption of electric motorcycles and innovative technologies will play a pivotal role in shaping the future of the industry, catering to the growing demand for eco-friendly and performance-oriented vehicles.