Motorcycle Market to Cross $ 144.56 Billion Revenue by 2030

Motorcycle Market Snapshot

“The Motorcycle Market is estimated to increase at a CAGR of 5.6% from $ 108 Billion in 2023 to $ 144.56 Billion by 2030.”

A motorcycle is a two or three-wheeled motor vehicle controlled by a handlebar from a saddle-style seat, also known as a bike or trike. It is used for long-distance travel, commuting, cruising, sport (including racing), and off-road riding.

Motorcycle riding involves riding a motorbike while participating in social activities like joining a motorcycle club.

In 2021, around 58.6 million new motorbikes were sold globally, a decrease from the 66.7 million vehicles sold during the same period, making motorcycles a prevalent mode of transportation worldwide.

In 2022, Honda, Yamaha, Kawasaki, and Suzuki were the top four motorcycle manufacturers, with 58% of the world's motorbikes found in Asia-Pacific, Southern, and Eastern Asia, including Japan, due to their reduced pricing and better fuel efficiency.

In 2023, Honda recalled 500,000 vehicles in the US and Canada due to improper latching of seat belts in the 2017–2020 CR-V, 2018–2019 Accord, 2018–2020 Odyssey, 2019 Insight, and 2019–2020 Acura RDX. The recall aims to reduce the risk of harm in accidents.

Honda and General Motors have partnered to develop vehicles with hydrogen fuel technology, aiming to increase the number of hydrogen-powered cells in electric vehicles, trucks, construction equipment, and power plants.

Market Dynamics

Two-wheeled Motorcycle roll upright due to conservation of angular momentum, where angular momentum points at the axle. Different motorcycle types have different dynamics, affecting performance under specific conditions. Longer wheelbases are more stable, while motorcycle tires significantly impact handling. Overall, the characteristics of a motorcycle's wheelbase and tyres influence its performance.

Countersteering, a practice where a rider briefly steers the handlebars in the opposite direction of the planned turn, is a necessary lean for motorcycle manoeuvres, which many expert riders find confusing.

Motorcycles have a short wheelbase, allowing them to raise the opposing wheel off the ground for better torque and stopping power. These intentional actions are known as wheelies and stoppies.

>>>Download Sample Report Now: https://marketreportservice.com/request-sample/motorcycle-market-54551 

Trends and Sales Analysis

“The article discusses the increasing trend of consumers turning towards electric bikes.”

The adoption of electric motorbikes is expanding due to public awareness of environmental safety and government initiatives. Leading two-wheeler manufacturers are focusing on introducing electric bikes, potentially opening new markets. The first generation of electric vehicles was costly and limited in riding capabilities. The world of two-wheelers is changing due to AI adaptation, V2V communication, and ergonomic design changes. Governments are also encouraging eco-friendly vehicles by offering tax breaks and incentives for electric bike and scooter purchases.

“The demand for standard bikes is on the rise”

Standard bike sales are primarily driven by the middle-class population's economic power, especially in emerging countries. These bikes offer fuel efficiency, low maintenance costs, high performance, and agility, contributing significantly to market income. As a result, they have become more appealing choices for new riders due to market growth.

“The article discusses the rapid innovations in motorcycles by various manufacturers.”

Motorcycles are gaining popularity due to advanced features such as anti-lock braking systems (ABS) and slipper clutches. ABS uses inertial measuring unit data and throttle control to maintain bike stability during crises and tight corners. Slipper clutches, originally designed for high-performance superbikes and track-only cars, are now widely used in motorbikes to partially disengage the bike when the back tyre tries to propel the engine faster than it can travel on its own power.

MOTORCYCLE SALES IN INDIA
Segment	Apr-Jun ’22	Apr-Jun ’23	Change (in %)	2022 Market share (in %)	2023 Market share (in %)
150-200cc	180,245	274,655	52%	50	53
200-250cc	9,295	22,909	146%	3	4
250-350cc	152,055	202,215	33%	42	39
350-500cc	13,357	16,296	22%	4	3
500-800cc	5,310	6,838	29%	1	1
Total	360,262	522,913	45%	100	100

 Drivers

The motorcycle market is expected to expand due to the launch of efficient products, rise in sports bike consumers, and the trend of customization. The low cost of ownership in semi-urban and rural areas is expected to drive growth.

motorcycle have become more sophisticated vehicles with a focus on safety, comfort, and luxury due to the use of advanced technologies. The antilock braking system (ABS) is widely adopted, enhancing sales by keeping the bike stable during crises and quick turns.

Helmets now include hands-free and Bluetooth functions for improved communication and reducing the need for smartphones for navigation. Modern motorcycles also feature a slip clutch to partially disengage when the rear tire attempts to accelerate the engine faster than it can handle.

The future of motorcycle is predicted due to the rapid growth of motorcycle technology, improved living conditions, increased young population, and the preference of the elderly for owning cars over public transport, thereby increasing consumer discretionary income.

Restraints

Motorcycles are gaining popularity due to their advantages, but they face increased dangers for riders. Over 80% of bikers killed on highways have head injuries, and two-wheelers are the most dangerous means of transportation, with over 6,500 riders killed annually in the European Union. Riders face a 20-fold higher death risk than passengers.

Motorcycle Market Segment Analysis

Motorcycle Market Analysis by Type

The standard segment dominates the global motorized two-wheeler market, with the earliest type being the standard. These bikes are comfortable, modern, and accessible, making them ideal for beginners. Kawasaki's Z series and Honda's CB series are the best options, with prices ranging from less than US$ 5,000 to over US$ 10,000. India and Japan's two-wheeler industries are the primary contributors to the global motorized two-wheeler industry due to their well-known brands.

Sports bikes are high-performance motorbikes with powerful engines and lightweight frames, while cruiser bikes are designed for pleasurable, relaxed riding. The global demand for sports and cruiser bikes has surged due to rising income levels, a preference for long-distance bikes, and an increase in off-roading and sports activities, particularly among the younger population.

By Propulsion type

The market is divided into internal combustion engine (ICE) and electric-powered motorcycles based on propulsion type. ICE vehicles have the largest global market share due to their widespread use across regions. They have a wide range of conventional fueled options, allowing major firms to gain a significant global market share. With nearly 2 million gasoline-powered vehicles daily in courier services, the demand for rapid transit continues to rise, offering low-maintenance transportation options for motor firms.

The electric motorcycle market is gaining popularity due to concerns about automotive emissions and public awareness of air pollution. Government investment in charging infrastructure and the production of high-performance, long-distance electric models are driving growth. Major market players are also striving to meet the trend of high-performance and long-distance riding by producing electric models with high torque and power.

Competitive Landscape of the Motorcycle Market Analysis

• Eicher Motors Limited
• Ducati Motor Holding S.p.A
• Yamaha Motor Co., Ltd.
• Bajaj Auto Limited
• Suzuki Motor Corporation
• Harley Davidson Motor Company Inc.
• Honda Motor Company, Ltd.
• Hero MotoCorp Limited
• TVS Motor Company Limited
• Kawasaki Heavy Industries, Ltd.

New Developments in Motorcycle Market

September 15, 2023 - Yamaha Motor Co., Ltd. announced that an agreement was reached to have Chongqing Jianshe Mechanical and Electric Co., Ltd., a current partner of the Company's motorcycle manufacturing joint venture in China, Zhuzhou Jianshe Yamaha Motor Co., Ltd. (ZJYM), transfer ZJYM's equity interest to ZHEJIANG CFMOTO POWER CO., LTD. (CFMOTO). The name of the new business will be ZHUZHOU CF YAMAHA MOTOR CO., LTD. (ZCYM).

October 10, 2023 Honda Previews Details of World’s First Honda E-Clutch for Motorcycles on Website

Honda Motor Co., Ltd - Japan, October 10, 2023 - Honda released on its website information on Honda E-Clutch for motorcycles, the world's first* automatic clutch control system for a multi-gear manual motorcycle transmission, enabling smooth starting, shifting gears and stopping without the need for the rider to operate the clutch lever.

In 2023, the Pan America, a brand-new adventure touring motorcycle, was introduced by Harley-Davidson. The bike is made with off-road and on-road riding in mind and is targeted at the expanding adventure touring market.

Breaking news, Eicher Motors skids more than 6% as competition intensifies.

American motorcycle manufacturer Harley-Davidson in collaboration with India's largest two-wheeler manufacturer, Hero MotoCorp, has unveiled the X440 motorcycle in India.

Regional Analysis

The Asia Pacific motorcycle market, worth $78.45 billion in 2022, is dominated by demographic changes, a larger middle class, and a preference for private transportation. India holds the largest bike market, accounting for 40% of global sales. Honda's independent market share is only 14%.

“The steady increase in motorcycle demand in “France” is attributed to various factors such as the rise in popularity of motorcycles, technological advancements, and the country's economic growth.”

France, Europe's top bicycle producer, is experiencing significant growth in its manufacturing and industrial sectors, offering numerous opportunities for two-wheeler manufacturers. The rise of motorcycling clubs, focusing on luxury vehicles, is driving market expansion. France's established manufacturing centers and increasing demand for various bikes make it a profitable location for two-wheeler manufacturers.

“India” is a crucial market for motorcycle manufacturers due to its diverse range of products and favorable economic conditions.”

India is focusing on developing innovative industrial facilities and capacity in industries like motor vehicles and raw materials. The market is driven by strong demand for various motorcycle models, and India's capacity and infrastructure are expanding rapidly. The growing tourism sector is a major driver of global motorbike industry expansion. The government is supporting electric mobility through tax credits and incentives, and infrastructure like public charging stations is boosting user acceptance of electric motorcycles.

Segments Covered in the Motorcycle Market Report

Motorcycle Market Analysis by Type

• Standard
• Sports
• Cruiser

Motorcycle Market by Propulsion type

• ICE
• electric

Engine Capacity

• Up to 150 CC
• 151-300 CC
• 301-500 CC
• 501-800 CC
• 801-1000 CC
• 1001-1600 CC
• Above 1600 CC

By Geographical Landscape

• North America
• Europe
• APAC
• South America
• Middle East and Africa

Frequently Asked Questions

What is the expected growth rate of the Motorcycle market over the next 7 years?

Motorcycle Market is estimated to increase at a CAGR of 5.6% from $ 108 Billion in 2023 to $ 144.56 Billion by 2030.

Who are the major players in the Motorcycle market and what is their market share?

Eicher Motors Limited,Ducati Motor Holding S.p.A,Yamaha Motor Co., Ltd.,Bajaj Auto Limited,Suzuki Motor Corporation,Harley Davidson Motor Company Inc.,Honda Motor Company, Ltd.,Hero MotoCorp Limited,TVS Motor Company Limited,Kawasaki Heavy Industries, Ltd., are prominent players operating and dominating in the market.

What are the main market trends for Motorcycle worldwide?

As fossil fuels decrease, electric motorcycles are being introduced by prominent manufacturers. The future of electric two-wheelers is likely to focus on electric bikes.

Who are the top 3 Manafacturersin the Motorcycle market?

Yamaha Motor Co., Ltd., Suzuki Motor Corporation, and Honda Motor Company, Ltd., are key players in the Motorcycle market.

1.SUMMARY

1.1. Motorcycle Market Overview

1.2. Key Insights

1.3. Report Scope

1.4. Research Methodology

1.5. Frequently Asked Questions

1.6. Chapter Outlines

2. DECISION-MAKING SUMMARY
3. INTRODUCTION

3.1. Overview of Motorcycle

3.2. Key Historical Events

3.3. Structure

3.4. Biochemical Interaction

3.5. Target Indications

3.6. Advantages of Motorcycle

3.7 Challenges associated with Motorcycle

3.8. Future Perspectives.

4. MARKET LANDSCAPE

4.1. Methodology

4.2 Motorcycle: Developer Landscape

4.2.1. Analysis by Year of Establishment

4.2.2. Analysis by Company Size

4.2.3. Analysis by Location of Headquarters (Region-wise)

4.2.4. Analysis by Location of Headquarters (Country-wise)

4.2.5. Analysis by Year of Establishment, Company Size and Location of Headquarters (Region-wise)

4.2.6. Most Active Players

5. COMPANY

5.1. Company Overview

5.1.2 Management Team

5.1.3. Product Portfolio

5.1.4. Recent Developments and Future Outlook

6. PARTNERSHIPS AND COLLABORATIONS

6.1. Partnership Models

6.2. Motorcycle: Partnerships and Collaborations

6.2.1. Analysis by Year of Partnership

6.2.2. Analysis by Type of Partnership

6.2.3. Analysis by Year and Type of Partnership

6.2.4. Analysis by Type of Partner

6.2.5. Analysis by Year of Partnership and Type of Partner

6.2.6. Analysis by Type of Partnership and Type of Partner

6.2.7. Analysis by Type of Partner and Parent Company Size

7. ACADEMIC GRANTS ANALYSIS

7.1. Methodology and Key Parameters

7.2. Motorcycle: Academic Grants Analysis

7.2.1. Analysis by Year of Grant Award

7.2.2. Analysis by Amount Awarded

7.2.3. Analysis by Funding Institute Center

7.2.4. Analysis by Support Period

7.2.5. Analysis by Funding Institute Center and Support Period

7.2.6. Analysis by Type of Grant Application

7.2.7. Analysis by Purpose of Grant

8. PUBLICATION ANALYSIS

8.1. Analysis Methodology and Key Parameters

8.2. Motorcycle: Publication Analysis

8.2.1. Analysis by Year of Publication

8.2.2. Analysis by Type of Publication

8.2.3. Analysis by Type of Conjugate

8.2.4. Analysis by Target Indication

8.2.5. Analysis by Copyright Holder

8.2.6. Word Cloud: Emerging Focus Area

8.2.7. Most Active Publishers: Analysis by Number of Publications

9. SUCCESS PROTOCOL ANALYSIS

9.1. Methodology and Key Parameters

9.2. Key Assumptions and Scoring Criteria

9.3. Success Protocol Analysis

9.4. Assessment of Approved Motorcycle

10. Appendix 1: Tabulated Data
11. Appendix 2: List of Companies 

1. Eicher Motors Limited
2. Ducati Motor Holding S.p.A
3. Yamaha Motor Co., Ltd.
4. Bajaj Auto Limited
5. Suzuki Motor Corporation
6. Harley Davidson Motor Company Inc.
7. Honda Motor Company, Ltd.
8. Hero MotoCorp Limited
9. TVS Motor Company Limited
10. Kawasaki Heavy Industries, Ltd

Research Methodology