Skip to main content

Motorcycle Market Share and Growth Factors Impact Analysis 2033

 The report states that the global motorcycle market is expected to witness stable growth over the coming years. Persistence Market Research estimates that the motorcycle market will generate US$129,488.00 Mn in sales in 2022. With the top 5 market companies controlling a sizable portion of the motorcycle market in 2021, the demand for motorcycles will increase. The global motorcycle market is anticipated to develop at a CAGR of 4.0% from 2023 to 2033, reaching US$ 200,206.00 Mn.

Demand from Rural Areas and Burgeoning Economic Strength to Propel Market Growth

Owing to increasing disposable income of the rural area consumer and dearth of a well-established public transport system, the demand for motorcycles and scooters has increased considerably in rural areas. The road infrastructure of rural areas is still in its primitive stage as compared to the urban infrastructure. To fulfill the need for mobility in rural areas and overcome high selling price and tax rates of four wheelers, the consumers are looking towards motorcycles, thus increasing their demand and subsequently, aiding the growth of the market. Furthermore, in the financial year 2017, rural areas accounted for approximately 38% of the two wheeler population in India, where the sales of two wheelers is highest in the world.

Burgeoning urbanization in developing countries such as Asia Pacific and Latin America, rising employment, improvements witnessed in disposable income, and a rise in the dual income of households are the key factors fuelling the demand for motorcycles. Reasonable price brackets for middle-class population and associated freedom of movement in crowded urban environments, low environmental impact, and ease of parking owing to the small size of two wheelers are some of other dynamics driving the conventional motorcycle market. According to the Federation of Asian Motorcycle (FAMI), in South East Asian countries, it is very common to have one or more motorcycle or scooter in a household. Thus, both the rural and urban population are expected to act as the driving force of the global motorcycle market.

India to Surge Ahead of all Regions and Countries in Motorcycle Consumption

India is one of the most prominent regions in the two wheelers market with a share of approximately 34% in 2017 in the global motorcycle market. India is one of the largest consumers of standard motorcycles, owing to the high preference for motorcycles in the country, especially in the middle class population segment. The narrow road infrastructure and closely knit cities are the most prominent aspects that makes India one of the leading consumers of motorcycle.

Key Market Segments Covered

By Product

  • Motorcycles
    • Standard Motorcycles
    • Cruiser
    • Sports Motorcycles
    • Mopeds
    • Electric Motorcycles
    • Others
  • Scooters
    • Standard Scooters
    • Maxi Scooters
    • Enclosed Scooters
    • Three-wheeled Scooters
    • Electric Scooters

By Technology

  • IC Engine Motorcycles
    • Up to 150cc Motorcycles
    • 151-300cc Motorcycles
    • 301-500cc Motorcycles
    • Above 500cc Motorcycles
  • All Electric Motorcycles

For More Info @ https://www.persistencemarketresearch.com/market-research/motorcycle-market.asp

Excess Competition over Technology Among Market Players

The players operating in the global motorcycle market are constantly focusing on presenting customers with technological savvy and fancy products and luring them to join their loyal consumer base. Catering to the speed and mileage needs of consumers has also become imperative for the companies. As a result, investment in research and development activities has become their priority. Some of the leading companies in the market are Yamaha Motors Co., Ltd., Piaggio & C.S.D.A, Honda Motor Co., Ltd., Hero MotoCorp., Bajaj Auto Ltd., Vmoto Limited, Zero Motorcycles Inc., Harley-Davidson, Inc., Ducati Motor Holding S.p.A, KTM AG, Triumph Motorcycles, and Bayerische Motoren Werke (BMW) AG, among many others.

Comments

Popular posts from this blog

Sales of Commercial Aircraft Video Surveillance Systems to Decelerate in 2020 as COVID 19 Pandemic Takes its Toll on Global Market

  Market Introduction Future Market Insights, in its recent study on the  Commercial Aircraft Video Surveillance Systems market,  offers a detailed value-volume analysis of the Commercial Aircraft Video Surveillance Systems market on the basis of various segments such as product type, application, aircraft type, assembly and region. In terms of product type, cabin surveillance systems is projected to be a lucrative segment in terms of growth opportunities and are mostly being installed in the line fit assembly applications in the commercial aircraft video surveillance systems. To Get the Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5202 There has been significant growth in the number of freighter planes due to expanding e-commerce and pharmaceutical sectors and outperforming global trade growth. From a macroeconomic point of view, demand for commercial aircrafts is anticipated to more than double in the next two decade...

Automotive Battery Management System Market : Technological Growth Map over Time

  Automotive Battery Management System Market is estimated to reach US$ 15.3 Bn by the end of 2029 In the near future, electric vehicles will dominate the clean vehicle market, and necessitate demand for revolutionary battery management systems. Steadily growing demand for battery management systems in e-bikes as well as electric cars will squarely surge market growth. According to a new research report published by Future Market Insights (FMI), the  automotive battery management system market  is estimated to reach US$ 15.31 Bn by the end of 2029.  “In the foreseeable future, advancements in battery management systems will contribute towards extending vehicle range, while simultaneously improving battery life and safety. All major OEMs are ambitiously planning to boost electric vehicle production, which is projected to create significant opportunities for the global automotive battery management system market.” Key Takeaways of Automotive Battery Management Sys...

Medical Gloves Market Trends, Growth, Future Demand, Analysis and Forecast by 2032

 The medical gloves market has witnessed significant growth and evolution, especially in recent years, due to the global healthcare challenges, including the COVID-19 pandemic. Medical gloves are crucial protective equipment used by healthcare professionals to prevent the transmission of infections, maintain hygiene standards, and ensure the safety of both patients and medical personnel. This market encompasses a wide range of glove types, including latex, nitrile, vinyl, and others, each with its unique features and applications. One of the key drivers of the medical gloves market is the increasing focus on infection prevention and control in healthcare settings. The heightened awareness of the importance of hand hygiene, especially in the wake of the pandemic, has led to a surge in demand for medical gloves worldwide. Healthcare facilities, including hospitals, clinics, and laboratories, require a steady and reliable supply of gloves to maintain safety protocols an...