Motorcycle Market to be swayed by call for High-class Technology
The motorcycle market is basically driven by demand for high-tech motorcycles abreast with air-cooled engines, bigger fuel tanks, unique horns, bucket seats, and Bluetooth speaker systems. For more details, looking through the market study entitled “Motorcycle Market” by Persistence Market Research would be advisable.
How about Category-wise Insights?
The global motorcycle market, by product, spans motorcycles (standard motorcycle, cruiser, sports motorcycles, mopeds, electric motorcycles, and others) and scooters (standard scooters, maxi scooters, enclosed scooters, three-wheeled scooters, and electric scooters). By technology, it’s IC Engine Motorcycles (up to 150cc motorcycles, 151-300cc motorcycles, 301-500cc motorcycles, and above 500cc motorcycles) and all electric motorcycles. Out of these, IC engine motorcycles dominate. Persistence Market Research has walked through these facts with future perspectives in its latest market study entitled “Motorcycle Market”.
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North America holds a noteworthy market share due to huge demand for bikes like sports, standard, cruisers, sports, and touring. Research states that motorcycle market has witnessed a 75% growth in the last few years. LATAM is also expected to catch up in the upcoming period. Europe stands second with Germany leading from the front. As per data released by Motorcycles Data dated January 2021, Germany-based motorbike industry is amongst the quickest growing industries. The Asia-Pacific is, however, expected to witness maximum turbulence in the motorcycle market in the forecast period. The Indian motorcycle vertical accounts for more than 40% of the worldwide sales. The government of India has also taken initiatives like FAME-II for providing tax exemptions and subsidies to the consumers for encouraging electric two-wheelers. Persistence Market Research has mentioned about these developments with insights in its latest market study entitled “Motorcycle Market”.
Persistence Market Research has profiled the key players in the motorcycles market as Triumph Motorcycles Ltd., Bajaj, BayerischeMotorenWerke (BMW) AG, Ducati Motor Holding S.p.A., Eicher Motors Ltd., Harley-Davidson, Inc., Hero MotoCorp Ltd., Honda Motor Co., Ltd., and KTM AG.
Persistence Market Research has also mentioned about the developments on this part. For instance – Piaggio, in May 2021, did unveil the Piaggio ONE, which comes across as a next gen electric scooter. Harley-Davidson, in May 2021, did launch new-fangled all-electric motorcycle brand called “Livewire”. Ducati, in the year 2020, did initiate production of new-fangled Multistrada V4. It holds the distinction of being the world’s first motorcycle abreast with rear and front radar technology. BMW, in 2020, did launch the ACC system (Active Cruise Control) with the objective of providing high level safety and comfort to rider.
Coming to more courses of development, BMW, in August 2021, did announce tabling of its 2 models – BMW R18B and BMW R18 powered by powerful engine with 1802 CC-2 cylinder flat twin engine. Yamaha India, in June 2021, did roll out FZ-x along with flooring of the updated versions of Ray-ZR 125 scooters and Fascino. Suzuki Motorcycle India, in April 2021, unleashed all-new Hayabusa. The assembling started in India after importing the parts from Japan. Hero MotoCorp,, in August 2021, did set up Mexico’s first retail store, wherein it would sell Xpulse 200T and 200 motorcycles.
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The Road Ahead
The global motorcycle market is estimated to grow on a stupendous note in the next 10 years – Persistence Market Research