Global Motorcycles Market Segmentation, By Type (On Road, Off Road, and Scooters), Engine Capacity (Up to 200cc, 200cc to 400cc, 400cc to 800cc, and More than 800cc), Application (Handlers and Postures), Propulsion Type (Internal Combustion Engine and Electric), Price range (Low, Mid, and High), End User (Cruiser, Adventure, Touring, Standard, and Sports) - Industry Trends and Forecast to 2031
Motorcycles Market Analysis
The global motorcycles market is experiencing significant growth, driven by increasing demand for two-wheelers as affordable and efficient modes of transportation. This market encompasses various segments, including cruisers, sportbikes, and electric motorcycles, catering to diverse consumer preferences. The rise in disposable incomes, particularly in developing regions, is leading to higher sales and adoption rates. Recent developments, such as advancements in electric motorcycle technology, are also reshaping the market landscape, promoting eco-friendly alternatives. Key players are investing in innovative designs and smart technologies to enhance rider experience and safety. Furthermore, the trend toward urbanization and the need for last-mile connectivity are bolstering the demand for motorcycles. Overall, the market is poised for continued expansion, with opportunities arising from evolving consumer preferences and the push for sustainable transportation solutions.
Motorcycles Market Size
The global motorcycles market size was valued at USD 104.27 million in 2023 and is projected to reach USD 160.51 million by 2031, with a CAGR of 5.20% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Motorcycles Market Trends
“Demand for Sustainable Transportation Options”
The motorcycles market is witnessing notable trends that reflect changing consumer preferences and technological advancements. One significant trend is the increasing popularity of electric motorcycles, driven by rising environmental awareness and the demand for sustainable transportation options. Innovations in battery technology are enhancing the performance and range of electric bikes, making them more appealing to a broader audience. Additionally, manufacturers are incorporating smart features, such as connectivity and advanced safety systems, to enhance the riding experience. As urbanization continues to rise, the demand for lightweight and fuel-efficient motorcycles is also increasing, prompting brands to focus on developing versatile models that cater to urban commuters. Overall, these trends are shaping a dynamic market landscape with a focus on sustainability and innovation.
Report Scope and Motorcycles Market Segmentation
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Attributes
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Motorcycles Key Market Insights
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Segments Covered
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Bajaj Auto Ltd. (India), BMW Group (Germany), Ducati Motor Holding S.p.A (Italy), Eicher Motors Limited (India), Hero MotoCorp Ltd. (India), China Jiailng Industrial Co., Ltd (China), Honda Motor Co., Ltd. (Japan), KTM Sportmotorcycle GmbH (Austria), Kawasaki Heavy Industries, Ltd. (Japan), Piaggio and C. SpA (Italy), Suzuki Motor Corporation (Japan), Triumph Motorcycles (U.K.), TVS Motor Company (India), Vmoto Limited (Australia), Yamaha Motor Co., Ltd. (Japan), Zero Motorcycles, Inc (U.S.)
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Market Opportunities
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Value Added Data Infosets
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Motorcycles Market Definition
Motorcycles are two-wheeled motor vehicles designed for efficient transportation and recreation. They are powered by internal combustion engines or electric motors and typically feature a handlebar for steering, a seat for the rider, and footpegs for support. Motorcycles come in various styles and configurations, including cruisers, sportbikes, touring bikes, and dirt bikes, catering to diverse riding preferences and purposes. Their lightweight and agile design allows for maneuverability in urban environments, making them popular for commuting.
Motorcycles Market Dynamics
Drivers
- Rising Demand for Personal Mobility Solutions
The rising demand for personal mobility solutions has significantly influenced the motorcycle market, as many individuals seek cost-effective alternatives to traditional automobiles. Motorcycles provide an accessible means of transportation, particularly for budget-conscious consumers who may find the expenses associated with car ownership including fuel, insurance, and maintenance—overwhelming. The affordability of motorcycles, combined with their ability to navigate through congested urban environments, makes them an attractive option for daily commuters. Moreover, as urbanization continues to accelerate, the need for efficient personal mobility solutions is becoming increasingly vital. This trend supports the growth of the motorcycle market and aligns with changing consumer preferences toward more economical and flexible transportation options, thereby driving market expansion.
- Rise in Disposable Incomes
The rise in disposable incomes in developing regions is a significant driver of motorcycle market growth, as it empowers more consumers to invest in personal transportation. With increased financial resources, individuals and families are more inclined to purchase motorcycles, recognizing them as affordable and efficient means of mobility. This trend is particularly pronounced in rapidly urbanizing areas where public transportation may be inadequate or unreliable. Motorcycles offer a practical solution for commuting, enabling users to navigate congested roads with ease. Furthermore, as disposable incomes rise, consumers are likely to seek upgraded models with advanced features, further fueling demand in the market. This shift toward motorcycle ownership in developing regions enhances individual mobility and contributes to the overall growth of the motorcycle industry.
Opportunities
- Demand for Electric Vehicles (EVs)
The sales of conventional engine motorcycles have seen a notable increase, even as e-bikes and scooters continue to gain popularity. This trend highlights a broader acceptance of two-wheeled vehicles among consumers, driven in part by government initiatives promoting electro-mobility and addressing environmental safety concerns. As policies encourage the transition to electric vehicles (EVs), they inadvertently create a ripple effect, benefiting various motorcycle segments, including those with conventional engines. Given that electric motorcycles are recognized for their environmentally friendly attributes and zero emissions, the overall motorcycle market is anticipated to experience substantial growth. This surge in demand presents opportunities for manufacturers to innovate and diversify their offerings, ultimately catering to a wider range of consumer preferences and contributing to a greener transportation future.
- Smart Technologies into Motorcycles
The integration of smart technologies into motorcycles presents an exciting market opportunity for manufacturers aiming to enhance the riding experience. As consumers increasingly seek connectivity and advanced safety features, the development of smart motorcycles that incorporate connected devices becomes essential. These innovations can include features such as navigation systems, real-time diagnostics, and safety alerts, which improve rider convenience and enhance overall safety on the road. Companies can leverage advancements in technology to create motorcycles that offer seamless integration with smartphones and other devices, providing riders with real-time data on performance metrics and environmental conditions. By focusing on these developments, manufacturers can differentiate their products in a competitive market, attract tech-savvy consumers, and establish themselves as leaders in the growing sector of smart mobility solutions.
Restraints/Challenges
- Higher Injury and Fatality Rates
Motorcycles, while offering a thrilling and efficient mode of transportation, come with inherent safety risks that can deter potential buyers. Statistics show that motorcycle riders are significantly more likely to be involved in accidents compared to car drivers, resulting in higher injury and fatality rates. This increased risk translates to elevated insurance costs for motorcycle owners, further complicating the decision to purchase. Many consumers, especially those new to riding, may be hesitant to invest in a motorcycle due to concerns about safety and financial implications associated with accidents. As a result, the perception of motorcycles as dangerous vehicles presents a significant challenge for manufacturers and dealers looking to attract new customers and expand the market.
- High Insurance Costs
Increased accident rates associated with motorcycle use significantly impact consumer perceptions and purchasing decisions. Motorcycles, while offering a sense of freedom and mobility, are inherently more dangerous than cars, leading to a higher likelihood of accidents and severe injuries. This reality translates into elevated insurance premiums, making motorcycle ownership more financially burdensome. Many potential buyers are deterred by the prospect of paying higher insurance rates and facing the risks associated with accidents. As a result, concerns over safety and financial implications can restrict market growth. Addressing these issues through improved safety features, rider education programs, and lower insurance costs could be crucial for attracting new customers and expanding the motorcycle market.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Motorcycles Market Scope
The market is segmented on the basis of type, engine capacity, application, propulsion type, price range, end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- On Road
- Off Road
- Scooters
Engine Capacity
- Up to 200cc
- 200cc to 400cc
- 400cc to 800cc
- More than 800cc
Application
- Handlers
- Postures
Propulsion Type
- Internal Combustion Engine
- Electric
Price Range
- Low
- Mid
- High
End User
- Cruiser
- Adventure
- Touring
- Standard
- Sports
Motorcycles Market Regional Analysis
The market is analysed and market size insights and trends are provided by type, engine capacity, application, propulsion type, price range, end user as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe maintains a dominant position in the motorcycle market and is expected to sustain this trend throughout the forecast period. Key factors contributing to this dominance include increasing disposable income, a favorable economic landscape, and strong demand for medium and heavy motorcycles, particularly in Germany. Furthermore, the establishment of innovative manufacturing hubs and the growing variety of motorcycle types are driving demand across the region.
Asia-Pacific is projected to experience the highest growth rate in the motorcycle market, driven by rising demand and increasing per capita income in Singapore. Additionally, many Southeast Asian countries are still developing, with lower disposable incomes that limit their ability to purchase expensive cars. As a result, consumers in these regions are more likely to opt for affordable motorcycles, creating significant growth opportunities for the motorcycle industry in Southeast Asia.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Motorcycles Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Motorcycles Market Leaders Operating in the Market Are:
- Bajaj Auto Ltd. (India)
- BMW AG (Germany)
- Ducati Motor Holding S.p.A (Italy)
- Eicher Motors Limited (India)
- Hero MotoCorp Ltd. (India)
- China Jiailng Industrial Co., Ltd (China)
- Honda Motor Co., Ltd. (Japan)
- KTM Sportmotorcycle GmbH (Austria)
- Kawasaki Heavy Industries, Ltd. (Japan)
- Piaggio and C. SpA (Italy)
- Suzuki Motor Corporation (Japan)
- Triumph Motorcycles (U.K.)
- TVS Motor Company (India)
- Vmoto Limited (Australia)
- Yamaha Motor Co., Ltd. (Japan)
- Zero Motorcycles, Inc (U.S.)
Latest Developments in Motorcycles Market
- In January 2024, Raptee Energy, an emerging electric vehicle startup, unveiled its high-voltage drivetrain at the Tamil Nadu Global Investor Meet (GIM). The drivetrain boasts impressive specifications, including a top speed of 135 km/h and a driving range of 150 km. The company plans to officially launch this innovative vehicle by April 2024
- In March 2023, Hero MotoCorp of India partnered with Zero Motorcycles from California, USA, committing up to USD 60 million to the collaboration. This partnership aims for Zero to develop powertrains while leveraging Hero MotoCorp's manufacturing scale, sourcing capabilities, and marketing expertise for electric motorcycles. This strategic alliance is set to enhance Hero MotoCorp's electric motorcycle offerings significantly
- In February 2023, Yamaha, the Japanese motorcycle manufacturer, announced updates to its entire two-wheeler lineup in India, transitioning to the On-Board Diagnostic (OBD-II) system effective April 2023. The updated models, including the FZS-Fi V4 Deluxe, FZ-X, and MT-15 V2 Deluxe, will now feature a standard Traction Control System (TCS) designed to enhance safety. This system optimizes ignition timing and fuel injection to prevent excessive wheel slippage, improving power delivery and rider control, particularly during cornering. Additionally, Yamaha plans to introduce new gasoline models by the end of 2023
- In January 2023, Hero MotoCorp, India's leading two-wheeler manufacturer, announced the commencement of trial production for motorcycles powered by E20 fuel, which can utilize various blends of E10 and E20. The company is conducting commercial production trials for flex-fuel motorcycles aimed at the 100-125 cc mass market segment. This initiative is part of Hero MotoCorp's efforts to embrace sustainable fuel solutions in the two-wheeler industry
- In January 2023, Bajaj Auto announced its entry into the premium two-wheeler segment with plans to manufacture KTM bikes featuring higher displacement engines (over 390cc) for both domestic and international markets. The company is actively incorporating these models into its production strategy, set to roll out in the coming months. This move marks Bajaj Auto's commitment to expanding its portfolio in the growing premium motorcycle sector
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