Skip to main content

Sales of Used Bikes through Bike Marketplace to Witness Stunning Growth by 2032

Sales of used bikes through bike marketplaces are predicted to witness a moderate growth rate of 4.8% during the forecast years of 2022 to 2032. The net worth of the bike marketplace is expected to reach US$ 2.5 Billion by the year 2032, increasing from US$ 1.53 Billion in the year 2021.

Consumers benefit from the used bike marketplace since they are more affordable than the newly released bikes and in terms of maintenance. Moreover, worsening traffic conditions are said to be a major determining factor for the expansion of the used bike market trends at some level. Furthermore, the growing number of everyday commuters in urban areas is indirectly augmenting the sales of used bikes through bike marketplace opportunities for dealers.

Sales of used bikes through bike marketplaces are mostly found to be proliferating around the used luxury bikes as it provides vendors with a larger profit margin after the sale. Further, OEM engagement in the sales of used bikes through marketplaces has expanded as a result of this higher commission cut for market players during the process.

This new market research report on the sales of used bikes through bike marketplace also sheds light on the regulatory constraints put up by public administration regarding the environmental impacts of aged automobiles. In the purview of vehicular emission control, many regulatory bodies have imposed mandates over the total lifetime of any vehicle. This rule, in turn, can pose a major challenge for the bike marketplace growth during the forecast period.

Key Takeaways

  • The historical size of the global used bike marketplace in the year 2021 is estimated to be around US$ 38.2 Billion.
  • The yea-on-year growth rate of the used bike marketplace is found to have improved from that of 4% recorded during the time period covering 2017 to 2021.
  • On the basis of distribution channel, customer to customer method of business is the dominating segment with 62.8% contribution.
  • Imported bikes accrue almost 63% of the total sales of used bikes through bike marketplace achieved by the global market.
  • Bikes with an engine capacity ranging between 150 CC to 200 CC is figured out to be the highest selling segment for the sales of used bikes through bike marketplace.
  • In consistent with the fact, super bikes are the most popular segment with 25.2% market share and higher profit margin for the sales of used bikes through bike marketplace.
  • Used electric bikes for sale through marketplaces has surfaced to be rapidly gaining traction against petrol bikes, by acquiring nearly 31.7% of the total market in a very short time.

Key Segments

By Distribution Channel:

  • Customer to Customer
  • Business to Customer

By Source:

  • Domestic Bikes
  • Imported Bikes

By Engine Capacity:

  • Up to 100 CC
  • 100 to 110 CC
  • 110 to 135 CC
  • 135 to 200 CC
  • Above 200 CC

By Type:

  • Computer
  • Off-Roading
  • Sports
  • Super Bikes
  • Cruiser Bikes
  • Others

By Propulsion:

  • Petrol
  • Electric

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

Competitive Landscape

Some of the market key players includes Droom, CredR, Bikedekho, Bikewale, Mahindra First Choice, Bikers Highway, OLX, Quicker, Use Motorcycle Store, and Bicycle Bluebook among others.

Recent Developments

CredR is a well-known used bike sales online website that has pledged to deliver used bikes to the homes of its customers by the year 2020. Consequently, CredR Care has now become associated with the on-demand doorstep bike service sector that it provides as a result of this new business approach.

Triumph Motorcycles, based in the United Kingdom (UK), has announced the launch of a used premium bike programme especially for the Indian market and consumers in 2019. In addition, the company also wants to provide clients financing alternatives for its reconditioned or refurbished products to further attract potential buyers.    

For More Info@ https://www.futuremarketinsights.com/reports/sales-of-used-bikes-through-used-bike-marketplace                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

Comments

Post a Comment

Popular posts from this blog

Frozen Foods Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Frozen Foods Market has experienced a significant transformation in recent years and continues to be a prominent and dynamic segment of the global food industry. As we move into 2033, this market remains a crucial part of modern lifestyles, offering a wide variety of convenient and preserved food options for consumers. The growth of the Frozen Foods Market is fueled by changing consumer preferences, technological innovations, and an ever-increasing demand for convenient, time-saving, and nutritious meal solutions. In 2033, the Frozen Foods Market is expected to continue its upward trajectory, as more consumers seek the benefits of frozen products. This market encompasses an extensive range of items, from frozen vegetables and fruits to ready-to-eat meals, appetizers, and desserts. The versatility and extended shelf life of frozen foods have made them an essential staple in many households. Consumers are drawn to the convenience of having quick, easy-to-prepare, and
Post a Comment
Read more

Automotive Filters Market Share and Growth Factors Impact Analysis 2029

 The global automotive filters market is expected to experience significant growth over the forecast period, due to the increasing demand for advanced automotive systems and the rising demand for fuel-efficient and eco-friendly vehicles. Automotive filters are used to remove contaminants, such as dust, dirt, and debris, from the air, oil, and fuel in a vehicle. The market is segmented based on type, vehicle type, and region. Based on type, the market is divided into air filters, oil filters, fuel filters, and others. The air filter segment is expected to dominate the market, due to the increasing demand for advanced air filtration systems in vehicles. Based on vehicle type, the market is classified into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment is expected to dominate the market, due to the increasing demand for passenger cars and the increasing adoption of advanced filtration systems in passenger cars. Geographi
Post a Comment
Read more

Iris Biometrics Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Iris Biometrics Market stands as a testament to the ever-evolving landscape of biometric technology, offering a unique and highly secure method of identity verification and authentication. The iris, with its intricate and individualistic patterns, has captured the attention of both security experts and technology developers as a reliable means of confirming one's identity. This market has gained prominence across various industries, ranging from border control and law enforcement to access control systems in government institutions, corporate offices, and even consumer devices. The market's growth is fueled by the increasing need for robust identity verification solutions in a world where security breaches and identity theft are becoming more prevalent. Unlike traditional authentication methods such as passwords and PINs, iris biometrics offer a high level of security and accuracy, as the iris pattern is virtually impossible to replicate. The technology prov
Post a Comment
Read more