Research Nester has released a report titled “Motorcycle Market: Global Demand Analysis & Opportunity Outlook 2030″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
Vehicular pollution is a major concern amongst the government of nations worldwide. To curb such issues, governments of nations are increasingly promoting awareness for electric vehicles including electric two-wheelers, and are also providing subsidies and tax rebates, which is contributing to the rise in adoption of these vehicles. Moreover, with the increasing advancements in electric two-wheeler technology, vehicles now provide greater mileage with lower transportation costs, which in turn is expected to boost the demand for two-wheelers in the coming years. Such factors are therefore anticipated to drive the growth of the global motorcycle market.
The global motorcycle market is anticipated to grow with a CAGR of 3.8% during the forecast period, i.e., 2021-2030. The market is expected to reach USD 147054.4 Million by the end of 2030, up from a revenue of USD 98774.4 Million in the year 2020. The market is segmented by type into motorbike, light motorcycle, electric bikes, sports motorbike, moped, ice motorcycle, scooter, and others. Out of these, the sports motorbike segment is expected to hold the largest market share throughout the forecast period, and further grow from a revenue of USD 49836.6 Million in 2020 to USD 71173.8 Million by the end of 2030.
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Geographically, the global motorcycle market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Out of these, the market in the Asia Pacific region is expected to hold a significant share during the forecast period. Increasing population in countries such as China and India, along with the growing urbanization in the region, and the surge in production of electric and non-electric two-wheelers, are expected to drive the market growth in the Asia Pacific.
However, growing concern for the safety related issues with motorcycles is one of the major factors anticipated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global motorcycle market, which includes company profiling of Bayerische Motoren Werke (BMW) AG, Ducati Motor Holding S.p.A., Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Motorcycle Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global motorcycle industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global motorcycle market in the near future.
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