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Report
Motorcycle Market Forecast till 2027
Market Report I 2023-05-03 I 118 Pages I Market Research Future
Motorcycle Market Forecast till 2027
Market Overview
A motorcycle, also referred to as a bike or motorbike, is a two-wheeled vehicle manufactured using metallic and fiber frames. Motorcycle are designed in various forms to serve different purposes such as sports activities, commuting, long-distance travel, racing, and off-road riding. With the increase in the middle-class population worldwide, there is a growing demand for affordable and efficient modes of transportation, with Motorcycle being seen as a viable option. Additionally, the lack of well-established public transportation in rural areas and the increase in disposable income has led to a significant rise in demand for Motorcycle and scooters.
Motorcycle are classified into different types, such as on-road Motorcycle, off-road Motorcycle, and scooters. On-road Motorcycle are primarily designed for use on paved roads, while off-road Motorcycle, also known as dirt bikes, are manufactured specifically for off-road racing events on unpaved tracks. Scooters, on the other hand, are lightweight and easy-to-ride Motorcycle that are popular among motorcycle riders, and they have more built-in storage space compared to conventional Motorcycle.
Segment Overview
The segmentation of the Motorcycle market based on fusion application includes postures and handlers. In 2021, the posture segment contributed to the majority of the Motorcycle market revenue. The growing trend of customization and an increase in the number of sport bike users are some of the factors driving market growth. However, over the forecast period, the handler's category is expected to grow the fastest due to the rising popularity among riders seeking a comfortable ride with advanced driving systems.
The Motorcycle market has been divided by end-users into five categories: cruiser, adventure, touring, standard, and sports. In 2021, the cruiser segment dominated the market and is projected to grow faster during the forecast period of 2019-2027. The growth is primarily due to increased comfort and luxury feel with advancements in technology. Furthermore, major market players' initiatives to enhance cruiser bike design and fuel efficiency are expected to drive market growth. However, the adventure category is expected to be the fastest-growing segment over the forecast period, driven by the growing popularity of adventure and long-distance touring on bikes.
Regional Analysis
According to regional analysis, the Asia Pacific region emerged as a significant contributor to the market revenue in 2021. This can be attributed to the region's rapid urbanization and strong demand for Motorcycle, particularly in China and India. In fact, these two countries, along with Indonesia and Vietnam, were identified as major revenue generators for the market in the Asia Pacific region by Infineum International Limited.
China and Taiwan are particularly noteworthy due to their high processing capacities and ample raw materials, making them key locations for motorcycle manufacturing. As a result, the Asia Pacific region is a major revenue-generating area for Motorcycle, with a higher demand compared to other regions.
Major Players
Key players in the market includes Suzuki Motor Corporation (Japan), Honda Motor Co., Ltd. (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Polaris Industries, Inc. (US), Ducati Motor Holding S.p.A. (Italy), BMW AG (Germany), Triumph Motorcycle (UK), Bajaj Auto Ltd. (India), TVS Motor Company (India), Yamaha Motor Co., Ltd. (Japan), Harley-Davidson, Inc. (US), PIERER Mobility AG (Austria), Hero MotoCorp Ltd. (India), and Eicher Motors Limited (India),
COVID 19 Impacts
The COVID-19 pandemic has had a significant impact on the global Motorcycle market. Due to the imposition of lockdowns and restrictions on movement, the demand for Motorcycle declined sharply in 2020. Many people postponed their purchase plans due to financial uncertainty and a lack of mobility requirements, resulting in reduced sales.
In addition, the closure of factories and supply chain disruptions caused a shortage of raw materials and parts, leading to a reduction in production levels. The lockdowns also affected the supply of Motorcycle and led to the closure of many dealerships, affecting the distribution channels.
However, the market is expected to recover in the coming years as the situation normalizes and economies reopen. As people seek to avoid public transportation and maintain social distancing, there is likely to be an increased demand for personal mobility options such as Motorcycle. Moreover, the growing popularity of electric Motorcycle is expected to drive the market growth in the coming years.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 GLOBAL Motorcycle MARKET, BY TYPE
1.1.2 GLOBAL Motorcycle MARKET, BY COUNTRY
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 LIST OF ASSUMPTIONS
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP-DOWN AND BOTTOM-UP APPROACH
3.6 FORECAST MODEL
4 MARKET DYNAMICS
4.1 DRIVERS
4.1.1 RISE IN THE MIDDLE-INCOME POPULATION
4.1.2 NEW MOTORCYCLE MODELS AND SPORTS ACTIVITIES ARE ATTRACTING NEW CONSUMERS
4.2 RESTRAINT
4.2.1 HIGH PRICES OF LUXURY Motorcycle
4.3 OPPORTUNITIES
4.3.1 INCREASED USE OF Motorcycle IN ADVENTURE TOURISM
5 MARKET FACTOR ANALYSIS
5.1 PORTER'S FIVE FORCES MODEL
5.1.1 THREAT OF NEW ENTRANTS
5.1.2 BARGAINING POWER OF SUPPLIERS
5.1.3 BARGAINING POWER OF BUYERS
5.1.4 THREAT OF SUBSTITUTES
5.1.5 INTENSITY OF RIVALRY
5.2 SUPPLY CHAIN ANALYSIS
5.2.1 DESIGN & DEVELOPMENT
5.2.2 RAW MATERIAL/COMPONENT SUPPLY
5.2.3 MOTORCYCLE MANUFACTURE
5.2.4 MOTORCYCLE DISTRIBUTION
5.2.5 CONSUMERS/BUYERS
6 GLOBAL Motorcycle MARKET, BY TYPE
6.1 OVERVIEW
6.1.1 ADVENTURE
6.1.2 CRUISER
6.1.3 SPORTS
6.1.4 STANDARD
6.1.5 TOURING
6.2 GLOBAL Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027
7 GLOBAL Motorcycle MARKET, BY COUNTRY
7.1 OVERVIEW
7.2 GLOBAL Motorcycle MARKET, NEW REGISTRATION, BY COUNTRY, 2019-2027
7.2.1 CHINA
7.2.1.1 OVERVIEW
7.2.1.2 CHINA MOTORCYCLE MARKE, NEW REGISTRATION, BY TYPE, 2019-2027
7.2.2 INDIA
7.2.2.1 OVERVIEW
7.2.2.2 INDIA MOTORCYCLE MARKE, NEW REGISTRATION, BY TYPE, 2019-2027
7.2.3 US
7.2.3.1 OVERVIEW
7.2.3.2 US MOTORCYCLE MARKE, NEW REGISTRATION, BY TYPE, 2019-2027
7.2.4 BRAZIL
7.2.4.1 OVERVIEW
7.2.4.2 BRAZIL MOTORCYCLE MARKE, NEW REGISTRATION, BY TYPE, 2019-2027
7.2.5 MEXICO
7.2.5.1 OVERVIEW
7.2.5.2 MEXICO MOTORCYCLE MARKE, NEW REGISTRATION, BY TYPE, 2019-2027
8 COMPETITIVE LANDSCAPE
8.1 COMPETITIVE OVERVIEW
8.2 MARKET SHARE ANALYSIS
8.2.1 INDIA MARKET SHARE ANALYSIS
8.2.2 CHINA MARKET SHARE ANALYSIS
8.2.3 US MARKET SHARE ANALYSIS
8.2.4 BRAZIL MARKET SHARE ANALYSIS
8.2.5 MEXICO MARKET SHARE ANALYSIS
8.3 COMPETITIVE BENCHMARKING
8.4 KEY DEVELOPMENTS AND GROWTH STRATEGIES
8.4.1 PRODUCT LAUNCH
8.4.2 EXPANSIONS
8.4.3 AGREEMENTS AND COLLABORATIONS
9 COMPANY PROFILES
9.1 SUZUKI MOTOR CORPORATION
9.1.1 COMPANY OVERVIEW
9.1.2 FINANCIAL OVERVIEW
9.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
9.1.4 KEY DEVELOPMENTS
9.1.5 SWOT ANALYSIS
9.1.6 KEY STRATEGIES
9.2 POLARIS INDUSTRIES, INC.
9.2.1 COMPANY OVERVIEW
9.2.2 FINANCIAL OVERVIEW
9.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
9.2.4 KEY DEVELOPMENTS
9.2.5 SWOT ANALYSIS
9.2.6 KEY STRATEGIES
9.3 HONDA MOTOR CO., LTD
9.3.1 COMPANY OVERVIEW
9.3.2 FINANCIAL OVERVIEW
9.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
9.3.4 KEY DEVELOPMENTS
9.3.5 SWOT ANALYSIS
9.3.6 KEY STRATEGIES
9.4 YAMAHA MOTOR CO., LTD
9.4.1 COMPANY OVERVIEW
9.4.2 FINANCIAL OVERVIEW
9.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
9.4.4 KEY DEVELOPMENTS
9.4.5 SWOT ANALYSIS
9.4.6 KEY STRATEGIES
9.5 HARLEY-DAVIDSON, INC.
9.5.1 COMPANY OVERVIEW
9.5.2 FINANCIAL OVERVIEW
9.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
9.5.4 KEY DEVELOPMENTS
9.5.5 SWOT ANALYSIS
9.5.6 KEY STRATEGIES
9.6 PIERER MOBILITY AG
9.6.1 COMPANY OVERVIEW
9.6.2 FINANCIAL OVERVIEW
9.6.3 PRODUCTS OFFERED
9.6.4 KEY DEVELOPMENTS
9.6.5 SWOT ANALYSIS
9.6.6 KEY STRATEGIES
9.7 BMW AG
9.7.1 COMPANY OVERVIEW
9.7.2 FINANCIAL OVERVIEW
9.7.3 PRODUCTS OFFERED
9.7.4 KEY DEVELOPMENTS
9.7.5 SWOT ANALYSIS
9.7.6 KEY STRATEGIES
9.8 KAWASAKI HEAVY INDUSTRIES, LTD.
9.8.1 COMPANY OVERVIEW
9.8.2 FINANCIAL OVERVIEW
9.8.3 PRODUCTS OFFERED
9.8.4 KEY DEVELOPMENTS
9.8.5 SWOT ANALYSIS
9.8.6 KEY STRATEGIES
9.9 TRIUMPH Motorcycle
9.9.1 COMPANY OVERVIEW
9.9.2 FINANCIAL OVERVIEW
9.9.3 PRODUCTS OFFERED
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIES
9.10 EICHER MOTORS LIMITED (ROYAL ENFIELD)
9.10.1 COMPANY OVERVIEW
9.10.2 FINANCIAL OVERVIEW
9.10.3 PRODUCTS OFFERED
9.10.4 KEY DEVELOPMENTS
9.10.5 SWOT ANALYSIS
9.10.6 KEY STRATEGIES
9.11 HERO MOTOCORP LTD.
9.11.1 COMPANY OVERVIEW
9.11.2 FINANCIAL OVERVIEW
9.11.3 PRODUCTS OFFERED
9.11.4 KEY DEVELOPMENTS
9.11.5 SWOT ANALYSIS
9.11.6 KEY STRATEGIES
9.12 BAJAJ AUTO LTD
9.12.1 COMPANY OVERVIEW
9.12.2 FINANCIAL OVERVIEW
9.12.3 PRODUCTS OFFERED
9.12.4 KEY DEVELOPMENTS
9.12.5 SWOT ANALYSIS
9.12.6 KEY STRATEGIES
9.13 TVS MOTOR COMPANY
9.13.1 COMPANY OVERVIEW
9.13.2 FINANCIAL OVERVIEW
9.13.3 PRODUCTS OFFERED
9.13.4 KEY DEVELOPMENTS
9.13.5 SWOT ANALYSIS
9.14 DUCATI MOTOR HOLDING S.P.A.
9.14.1 COMPANY OVERVIEW
9.14.2 FINANCIAL OVERVIEW
9.14.3 PRODUCTS OFFERED
9.14.4 KEY DEVELOPMENTS
9.14.5 SWOT ANALYSIS
9.14.6 KEY STRATEGIES
10 APPENDIX
10.1 REFERENCES
10.2 RELATED REPORTS
LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 3 GLOBAL Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 4 GLOBAL Motorcycle MARKET, NEW REGISTRATION, BY COUNTRY, 2019-2027 ('000 UNITS)
TABLE 5 GLOBAL Motorcycle MARKET, NEW REGISTRATION, BY COUNTRY, 2019-2027 ('000 UNITS)
TABLE 6 CHINA Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 7 CHINA Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 8 INDIA Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 9 INDIA Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 10 US Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 11 US Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 12 BRAZIL Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 13 BRAZIL Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 14 MEXICO Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 15 MEXICO Motorcycle MARKET, NEW REGISTRATION, BY TYPE, 2019-2027 ('000 UNITS)
TABLE 16 PRODUCT LAUNCH
TABLE 17 EXPANSIONS
TABLE 18 AGREEMENTS AND COLLABORATIONS
TABLE 19 SUZUKI MOTOR CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 20 SUZUKI MOTOR CORPORATION: KEY DEVELOPMENTS
TABLE 21 POLARIS INDUSTRIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 22 POLARIS INDUSTRIES, INC.: KEY DEVELOPMENTS
TABLE 24 HONDA MOTOR CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 25 HONDA MOTOR CO., LTD: KEY DEVELOPMENTS
TABLE 26 YAMAHA MOTOR CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 27 YAMAHA MOTOR CO., LTD: KEY DEVELOPMENTS
TABLE 29 HARLEY-DAVIDSON, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 30 HARLEY-DAVIDSON, INC.: KEY DEVELOPMENTS
TABLE 31 PIERER MOBILITY AG CORPORATION: PRODUCTS OFFERED
TABLE 32 PIERER INDUSTRIE AG CORPORATION: KEY DEVELOPMENTS
TABLE 33 BMW AG: PRODUCTS OFFERED
TABLE 34 BMW AG: KEY DEVELOPMENTS
TABLE 35 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCTS OFFERED
TABLE 36 KAWASAKI HEAVY INDUSTRIES, LTD.: KEY DEVELOPMENTS
TABLE 37 TRIUMPH Motorcycle: PRODUCTS OFFERED
TABLE 38 TRIUMPH Motorcycle: KEY DEVELOPMENTS
TABLE 39 EICHER MOTORS LIMITED: PRODUCTS OFFERED
TABLE 40 EICHER MOTORS LIMITED: KEY DEVELOPMENTS
TABLE 41 HERO MOTOCORP LTD: PRODUCTS OFFERED
TABLE 42 HERO MOTOCORP LTD: KEY DEVELOPMENTS
TABLE 43 BAJAJ AUTO LTD: PRODUCTS OFFERED
TABLE 44 BAJAJ AUTO LTD: KEY DEVELOPMENTS
TABLE 45 TVS MOTOR COMPANY: PRODUCTS OFFERED
TABLE 46 TVS MOTOR COMPANY: KEY DEVELOPMENTS
TABLE 47 DUCATI MOTOR HOLDING S.P.A.: PRODUCTS OFFERED
TABLE 48 DUCATI MOTOR HOLDING S.P.A.: KEY DEVELOPMENTS
LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS
FIGURE 2 GLOBAL Motorcycle MARKET ANALYSIS, BY TYPE
FIGURE 3 GLOBAL Motorcycle MARKET ANALYSIS, BY COUNTRY
FIGURE 4 GLOBAL Motorcycle MARKET: MARKET STRUCTURE
FIGURE 5 RESEARCH PROCESS OF MRFR
FIGURE 6 DRIVER IMPACT ANALYSIS: GLOBAL Motorcycle MARKET
FIGURE 7 RESTRAINT IMPACT ANALYSIS: GLOBAL Motorcycle MARKET
FIGURE 8 GLOBAL Motorcycle MARKET: PORTER'S FIVE FORCES ANALYSIS
FIGURE 9 SUPPLY CHAIN ANALYSIS: Motorcycle MARKET
FIGURE 10 GLOBAL Motorcycle MARKET, BY TYPE, 2020 (% SHARE)
FIGURE 11 GLOBAL Motorcycle MARKET, BY TYPE, 2019-2027 ('000 UNITS)
FIGURE 12 GLOBAL Motorcycle MARKET, BY COUNTRY, 2020 (% SHARE)
FIGURE 13 GLOBAL Motorcycle MARKET, NEW REGISTRATION, BY COUNTRY, 2019-2027 ('000 UNITS)
FIGURE 14 CHINA Motorcycle MARKET, BY TYPE, 2019-2027 ('000 UNITS)
FIGURE 15 CHINA Motorcycle MARKET, BY TYPE, 2020 (% SHARE)
FIGURE 16 INDIA Motorcycle MARKET, BY TYPE, 2019-2027 ('000 UNITS)
FIGURE 17 INDIA Motorcycle MARKET, BY TYPE, 2020 (% SHARE)
FIGURE 18 US Motorcycle MARKET, BY TYPE, 2019-2027 ('000 UNITS)
FIGURE 19 US Motorcycle MARKET, BY TYPE, 2020 (% SHARE)
FIGURE 20 BRAZIL Motorcycle MARKET, BY TYPE, 2019-2027 ('000 UNITS)
FIGURE 21 BRAZIL Motorcycle MARKET, BY TYPE, 2020 (% SHARE)
FIGURE 22 MEXICO Motorcycle MARKET, BY TYPE, 2019-2027 ('000 UNITS)
FIGURE 23 MEXICO Motorcycle MARKET, BY TYPE, 2020 (% SHARE)
FIGURE 24 INDIA MAJOR MANUFACTURER MARKET SHARE ANALYSIS, 2020 (%)
FIGURE 25 CHINA MAJOR MANUFACTURER MARKET SHARE ANALYSIS, 2020 (%)
FIGURE 26 US MAJOR MANUFACTURER MARKET SHARE ANALYSIS, 2020 (%)
FIGURE 27 BRAZIL MAJOR MANUFACTURER MARKET SHARE ANALYSIS, 2020 (%)
FIGURE 28 MEXICO MAJOR MANUFACTURER MARKET SHARE ANALYSIS, 2020 (%)
FIGURE 29 BENCHMARKING OF MAJOR COMPETITORS
FIGURE 30 SUZUKI MOTOR CORPORATION: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 31 SUZUKI MOTOR CORPORATION: SWOT ANALYSIS
FIGURE 32 POLARIS INDUSTRIES, INC.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 33 POLARIS INDUSTRIES, INC: SWOT ANALYSIS
FIGURE 34 HONDA MOTOR CO., LTD: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 35 HONDA MOTOR CO., LTD: SWOT ANALYSIS
FIGURE 36 YAMAHA MOTOR CO., LTD: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 37 YAMAHA MOTOR CO., LTD: SWOT ANALYSIS
FIGURE 38 HARLEY-DAVIDSON, INC.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 39 HARLEY-DAVIDSON, INC.: SWOT ANALYSIS
FIGURE 40 PIERER MOBILITY AG CORPORATION: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 41 PIERER INDUSTRIE AG CORPORATION: SWOT ANALYSIS
FIGURE 42 BMW AG: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 43 BMW AG: SWOT ANALYSIS
FIGURE 44 KAWASAKI HEAVY INDUSTRIES, LTD.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 45 KAWASAKI HEAVY INDUSTRIES, LTD.: SWOT ANALYSIS
FIGURE 46 TRIUMPH Motorcycle: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 47 EICHER MOTORS LIMITED: FINANCIAL OVERVIEW
FIGURE 48 EICHER MOTORS LIMITED: SWOT ANALYSIS
FIGURE 49 HERO MOTOCORP LTD: FINANCIAL OVERVIEW
FIGURE 50 HERO MOTOCORP LTD: SWOT ANALYSIS
FIGURE 51 BAJAJ AUTO LTD: FINANCIAL OVERVIEW
FIGURE 52 BAJAJ AUTO LTD: SWOT ANALYSIS
FIGURE 53 TVS MOTOR COMPANY: FINANCIAL OVERVIEW
FIGURE 54 TVS MOTOR COMPANY: SWOT ANALYSIS
FIGURE 55 DUCATI MOTOR HOLDING S.P.A.: SWOT ANALYSIS
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