Motorcycle Market Size, Share, Trends, Value 2032

Motorcycle Industry Prospective

According to Zion Market Research, the global Motorcycle Market was worth USD 139.25 Billion in 2023. The market is forecast to reach USD 192.77 Billion by 2032, growing at a compound annual growth rate (CAGR) of 3.68% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Motorcycle industry over the next decade.

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Global Motorcycle Market: Overview

A motorcycle is a two- or three-wheeled vehicle used in day-to-day life. Almost everybody either owns it or had tried it. The motorcycle is a need for grownups and most of the younger population, it is a style statement. Motorcycle manufacturing companies are putting their best efforts to cater to every need of motorcycle enthusiasts and general users. Every motorcycle is a symbol of the personality of the user and hence market tries to serve different types of demands of bike lovers.

A motorcycle is a two-wheeled motorized vehicle designed for personal transportation. It is powered by an internal combustion engine or an electric motor and typically has a lightweight frame that allows for agility and speed. Motorcycles are widely used for commuting, recreation, and racing, offering an economical and fuel-efficient mode of transport compared to cars.

Motorcycles come in various types, including cruisers, sport bikes, touring bikes, dirt bikes, and scooters, each tailored to different riding styles and purposes. For example, sport bikes are designed for high-speed performance and maneuverability, while touring bikes are built for long-distance travel, offering comfort and storage capacity.

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In addition to their versatility, motorcycles are popular for their ability to navigate through traffic and narrow streets, making them ideal for urban commuting. Safety features such as advanced braking systems, anti-lock brakes (ABS), and increasingly sophisticated electronics are becoming standard in many modern motorcycles, enhancing rider control and safety on the road.

Global Motorcycle Market: Growth Factors

As the number of young population in the world is higher and increasing and lifestyle is taking certain changes, the young generation, even middle age and old people prefer to have their vehicle rather than travel by public transport. It provides time flexibility and comfort to the user. This is the base of the global motorcycle market and its growth. Apart from that, many producers are inventing ways to build bikes that will run on eco-friendly supplies like solar energy, water, or electricity. These efforts are helping to attract environmentally conscious people to the market. Plus, flooding markets with stylish and attractive bikes are playing their role well to tempt the young population. The easy availability of vehicle loans is one of the factors which boost the growth of the global motorcycle market. However, Pollution is the biggest growth restraint for the market worldwide.

Motorcycle Market: Report Scope

Global Motorcycle Market: Segmentation

The global motorcycle market is segmented based on its types and regions. On account of types, the market is classified into ICE motorcycles, scooters, motorbikes, light motorcycles, sports motorbikes, mopeds, electronic motorcycles, and motorcycles for the handicapped. Among these, light motorcycles are in high demand owing to their lower prices, ease of handling, and fuel efficiency.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Motorcycle Market: Competitive Players

Some of the major companies in the global motorcycle market include Bajaj Auto Ltd., Dayun Group, Benelli QJ, Ducati Motor Holding S.p.A., Bayerische Motoren Werke (BMW) AG, Harley-Davidson, Inc., Eicher Motors Limited, Honda Motor Co., Ltd., Hero MotoCorp Ltd., Piaggio & C. SpA, KTM AG, Triumph Motorcycles Ltd., Suzuki Motor Corporation, Vmoto Limited, TVS Motor Company Ltd., Zero Motorcycles, Inc., and Yamaha Motors Co., Ltd., among others. Companies around the world are manufacturing various types of motorcycles for the target customers and trying to attract more of the young generation by inventing easy-to-ride and faster bikes for cost-effectiveness.

Global Motorcycle Market: Regional Analysis

The U.S. and Europe are leading the motorcycle market due to more demand for medium and heavy motorcycles. These regions are generating more demand globally owing to higher disposable income and a favorable economy of the nations. Following these nations are Asian Pacific countries where using a motorcycle is an attractive addition to the lifestyle.

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The per capita income of people in this region is increasing and hence creating a better future market for motorcycles. Inexpensive bikes dominate this region of the globe.

Motorcycle Market: Competitive Space

The global Motorcycle market profiles key players such as:

• Bajaj Auto Ltd
• Dayun Group
• Benelli QJ
• Ducati Motor Holding S.p.A
• Bayerische Motoren Werke (BMW) AG
• Harley-Davidson, Inc
• Eicher Motors Limited
• Honda Motor Co., Ltd
• Hero MotoCorp Ltd
• Piaggio & C. SpA
• KTM AG
• Triumph Motorcycles Ltd
• Suzuki Motor Corporation
• Vmoto Limited
• TVS Motor Company Ltd
• Zero Motorcycles Inc
• Yamaha Motors Co. Ltd

The global Motorcycle market is segmented as follows:

By Types

• ICE motorcycles
• Scooters
• Motorbikes
• Light motorcycles
• Sports motorbikes
• Mopeds
• Electronic motorcycles
• Motorcycles for the handicapped

Motorcycle Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa