Motorcycles Market
Motorcycles Market Forecasts to 2030 - Global Analysis By Type of Motorcycle (Cruiser, Sportbike, Touring, Adventure (ADV) / Dual-Sport, Dirt Bike / Off-Road, Electric Motorcycles and Other Type of Motorcycles), Fuel Type, Engine Capacity, Distribution Channel, Technology, Application and By Geography
According to Stratistics MRC, the Global Motorcycles Market is accounted for $86.3 billion in 2024 and is expected to reach $141.6 billion by 2030 growing at a CAGR of 8.6% during the forecast period. Motorcycles are two-wheeled motor vehicles designed for both practical and recreational use. They range from small, economical models ideal for urban commuting to powerful, high-performance machines built for speed and long-distance travel. They also offer a sense of freedom and adventure, making them popular among enthusiasts. Safety gear like helmets and protective clothing is essential to reduce risk. With advancements in technology, modern motorcycles feature improved safety systems, electronic aids, and eco-friendly designs, catering to a diverse range of riders and preferences.
According to the United Nations Conference on Trade & Development (UNCTAD) statistical handbook, the proportion of the world's urban population increased from 51.6% in 2010 to 56.2% in 2020. The proportion of the urban population has increased rapidly over the last decade.
Market Dynamics:
Driver:
Increasing interest in recreational riding and motorcycle culture
As more people embrace motorcycling for leisure and lifestyle, demand for motorcycles, accessories, and related gear has surged. This trend drives growth in both new and used motorcycle sales, as well as in customization and aftermarket modifications. Motorcycle manufacturers are responding by developing a broader range of models, including sport bikes, cruisers, and adventure bikes, to cater to diverse rider preferences driving the growth of the market.
Restraint:
Perceived risk of accidents and injuries
Concerns about safety often deter potential buyers from purchasing motorcycles, as they associate riding with a higher likelihood of accidents compared to other modes of transportation. This perception can lead to decreased sales and market growth, particularly among those who prioritize safety. Insurance premiums for motorcycles are also typically higher due to the increased risk, which further discourages potential buyers hampering the growth of the market.
Opportunity:
Increased purchasing power among consumers
Disposable income rises, more individuals can afford to invest in motorcycles, whether for daily commuting, leisure, or premium models. This boost in purchasing power encourages spending on high-end and feature-rich motorcycles, as well as related accessories and gear. Manufacturers respond by offering a wider range of models, including luxury and custom options, to cater to diverse preferences. Enhanced financial flexibility also supports the growth of financing and leasing options, making motorcycles more accessible.
Threat:
Stringent emissions regulations and safety standards
Compliance with rigorous environmental and safety requirements often necessitates advanced technologies and materials, which can drive up manufacturing expenses. These added costs may be passed on to consumers, making motorcycles more expensive and potentially reducing sales. Additionally, stringent regulations can lead to complex design and engineering adjustments, which may slow down innovation and limit the introduction of new models hampering the growth of the market.
Covid-19 Impact:
COVID-19 impacted the motorcycles market by disrupting supply chains, causing delays in production and delivery. Initially, the pandemic led to decreased demand due to economic uncertainty and lockdowns. However, as restrictions eased, the market saw a rebound driven by increased interest in personal transportation and recreational activities. The pandemic accelerated trends toward digital sales and remote customer engagement. Additionally, the rise in outdoor and leisure activities boosted demand for motorcycles.
The sportbike segment is expected to be the largest during the forecast period
The sportbike is expected to be the largest during the forecast period owing to driving demand for high-performance, stylish, and technologically advanced models. Their appeal lies in their design, which emphasizes speed, agility, and sporty aesthetics. This segment attracts enthusiasts and riders seeking adrenaline-pumping experiences and cutting-edge technology. Additionally sportbikes contribute to market growth by encouraging technological advancements and innovation, such as enhanced suspension systems, advanced braking technology, and improved aerodynamics.
The connected motorcycles segment is expected to have the highest CAGR during the forecast period
The connected motorcycles segment is expected to have the highest CAGR during the forecast period as these motorcycles feature connectivity solutions such as GPS, telematics, and real-time data sharing, allowing for improved navigation, vehicle tracking, and diagnostics. Further the adoption of connected technology is driving market growth by attracting tech-savvy consumers interested in enhanced features and better integration with digital ecosystems which are appealing to riders seeking greater security on the road.
Region with largest share:
North America is projected to hold the largest market share during the forecast period as there is a strong preference for recreational and touring motorcycles, driven by lifestyle and leisure activities. Brands like Harley-Davidson, Honda, and Indian Motorcycles are prominent in this segment. Further the market is influenced by economic conditions and disposable income levels. Economic growth and increased consumer spending power can drive higher sales of premium and luxury motorcycles.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to countries like India, China, and Indonesia are major markets due to their large populations and rising middle class, leading to increased motorcycle ownership for personal transportation and economic activity and the rapid urbanization and increased traffic congestion in major cities drive demand for motorcycles as a convenient and cost-effective mode of transportation.
Key players in the market
Some of the Keyplayers in the Motorcycles Market include Bajaj Auto Ltd., Benelli Q.J., BMW AG, Ducati Motor Holding S.p.A., Harley-Davidson Incorporation, Hero MotoCorp Limited, Honda Motor Co., Ltd., Kawasaki Heavy Industries Motorcycle & Engine, KTM AG, Piaggio & C. SpA, Royal Enfield, Suzuki Motor Corporation, Triumph Motorcycles, TVS Motor Company, Yadea Group Holdings Ltd., Yamaha Motor Co., Ltd. And Zero Motorcycles Inc
Key Developments:
In July 2024, Harley-Davidson announced plan to repurchase $1 Billion of its shares through 2026. This announcement replaces existing share repurchase plans and is in addition to the $875 million in share repurchases since 2022 that the Company has completed to return cash to its shareholders.
In June 2024, New Bajaj Pulsar N160 variant introduced, enhanced connectivity and graphic overhaul for Pulsar 125, 150 and 220F. The Pulsar N160 gets an additional variant with Upside Down (USD) forks, turn-by-turn navigation and ABS ride modes.
In June 2024, Harley-Davidson unveiled Davidson Park, a new community park at iconic Milwaukee headquarters. The project, pioneered by the Harley-Davidson Foundation (""the Foundation""), has been created in partnership with internationally acclaimed designers
Type of Motorcycles Covered:
• Cruiser
• Sportbike
• Touring
• Adventure (ADV) / Dual-Sport
• Dirt Bike / Off-Road
• Electric Motorcycles
• Other Type of Motorcycles
Fuel Types Covered:
• Gasoline/Petrol
• Electric
• Hybrid
Engine Capacities Covered:
• Below 125cc
• 251cc to 500cc
• Above 1000cc
Distribution Channels Covered:
• Original Equipment Manufacturer
• Online Sales
• Aftermarket Sales
Technologies Covered:
• Connected Motorcycles
• Smart Motorcycles
Applications Covered:
• Personal Use
• Racing
• Adventure & Touring
• Commercial Use
• Custom & Luxury Use
• Off-Road & Adventure
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Motorcycles Market, By Type of Motorcycle
5.1 Introduction
5.2 Cruiser
5.3 Sportbike
5.4 Touring
5.5 Adventure (ADV) / Dual-Sport
5.6 Dirt Bike / Off-Road
5.7 Electric Motorcycles
5.8 Other Type of Motorcycles
6 Global Motorcycles Market, By Fuel Type
6.1 Introduction
6.2 Gasoline/Petrol
6.3 Electric
6.4 Hybrid
7 Global Motorcycles Market, By Engine Capacity
7.1 Introduction
7.2 Below 125cc
7.3 251cc to 500cc
7.4 Above 1000cc
8 Global Motorcycles Market, By Distribution Channel
8.1 Introduction
8.2 Original Equipment Manufacturer
8.3 Online Sales
8.4 Aftermarket Sales
9 Global Motorcycles Market, By Technology
9.1 Introduction
9.2 Connected Motorcycles
9.3 Smart Motorcycles
10 Global Motorcycles Market, By Application
10.1 Introduction
10.2 Personal Use
10.3 Racing
10.4 Adventure & Touring
10.5 Commercial Use
10.6 Custom & Luxury Use
10.7 Off-Road & Adventure
10.8 Other Applications
11 Global Motorcycles Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Bajaj Auto Ltd.
13.2 Benelli Q.J.
13.3 BMW AG
13.4 Ducati Motor Holding S.p.A.
13.5 Harley-Davidson Incorporation
13.6 Hero MotoCorp Limited
13.7 Honda Motor Co., Ltd.
13.8 Kawasaki Heavy Industries Motorcycle & Engine
13.9 KTM AG
13.10 Piaggio & C. SpA
13.11 Royal Enfield
13.12 Suzuki Motor Corporation
13.13 Triumph Motorcycles
13.14 TVS Motor Company
13.15 Yadea Group Holdings Ltd.
13.16 Yamaha Motor Co., Ltd.
13.17 Zero Motorcycles Inc
List of Tables
1 Global Motorcycles Market Outlook, By Region (2022-2030) ($MN)
2 Global Motorcycles Market Outlook, By Type of Motorcycle (2022-2030) ($MN)
3 Global Motorcycles Market Outlook, By Cruiser (2022-2030) ($MN)
4 Global Motorcycles Market Outlook, By Sportbike (2022-2030) ($MN)
5 Global Motorcycles Market Outlook, By Touring (2022-2030) ($MN)
6 Global Motorcycles Market Outlook, By Adventure (ADV) / Dual-Sport (2022-2030) ($MN)
7 Global Motorcycles Market Outlook, By Dirt Bike / Off-Road (2022-2030) ($MN)
8 Global Motorcycles Market Outlook, By Electric Motorcycles (2022-2030) ($MN)
9 Global Motorcycles Market Outlook, By Other Type of Motorcycles (2022-2030) ($MN)
10 Global Motorcycles Market Outlook, By Fuel Type (2022-2030) ($MN)
11 Global Motorcycles Market Outlook, By Gasoline/Petrol (2022-2030) ($MN)
12 Global Motorcycles Market Outlook, By Electric (2022-2030) ($MN)
13 Global Motorcycles Market Outlook, By Hybrid (2022-2030) ($MN)
14 Global Motorcycles Market Outlook, By Engine Capacity (2022-2030) ($MN)
15 Global Motorcycles Market Outlook, By Below 125cc (2022-2030) ($MN)
16 Global Motorcycles Market Outlook, By 251cc to 500cc (2022-2030) ($MN)
17 Global Motorcycles Market Outlook, By Above 1000cc (2022-2030) ($MN)
18 Global Motorcycles Market Outlook, By Distribution Channel (2022-2030) ($MN)
19 Global Motorcycles Market Outlook, By Original Equipment Manufacturer (2022-2030) ($MN)
20 Global Motorcycles Market Outlook, By Online Sales (2022-2030) ($MN)
21 Global Motorcycles Market Outlook, By Aftermarket Sales (2022-2030) ($MN)
22 Global Motorcycles Market Outlook, By Technology (2022-2030) ($MN)
23 Global Motorcycles Market Outlook, By Connected Motorcycles (2022-2030) ($MN)
24 Global Motorcycles Market Outlook, By Smart Motorcycles (2022-2030) ($MN)
25 Global Motorcycles Market Outlook, By Application (2022-2030) ($MN)
26 Global Motorcycles Market Outlook, By Personal Use (2022-2030) ($MN)
27 Global Motorcycles Market Outlook, By Racing (2022-2030) ($MN)
28 Global Motorcycles Market Outlook, By Adventure & Touring (2022-2030) ($MN)
29 Global Motorcycles Market Outlook, By Commercial Use (2022-2030) ($MN)
30 Global Motorcycles Market Outlook, By Custom & Luxury Use (2022-2030) ($MN)
31 Global Motorcycles Market Outlook, By Off-Road & Adventure (2022-2030) ($MN)
32 Global Motorcycles Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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