Global On-road Motorcycles Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028.
One of the major drivers fueling the market’s expansion is the motorcycle industry’s growing emphasis on creating high-performance and comfortable motorcycles. The demand for on-road motorbikes is also influenced by factors such as strong disposable income, the regular introduction of better and more efficient products, a surge in the customizing trend, and an increase in the number of motorbike sports users. Some of the issues impeding the growth of the on-road motorbikes market include the expensive price of the product and the uncomfortable seating arrangement. To increase their market share as much as possible, the majority of the leading companies in the on-road motorbike market are employing a mergers, acquisitions, and new product introduction strategy. For instance, Tern PLC, a manufacturing company with its headquarters in the United Kingdom, launched Quick Haul e-bike is the company’s most affordable Bosch mid-drive cargo electric bike in March 2022. And the cycle comes with Ta rear rack that has enough capacity for securing gear, adding passenger seats, or even using Tern’s pet-carrying attachments. Along with this, in October 2021, Brompton, a bicycle manufacturing company, launched its 2022 range of bikes comprising of folding bikes in the A Line, C Line, and Electric C Line models.
The key regions considered for the global On-road Motorcycles Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe is the leading region over the globe. The European Association of Motorcycle Manufacturers (ACEM) estimates that in 2020, major European nations including Germany, Italy, France, the UK, and Spain would account for around 80% of sales. The demand for on-road motorcycles has increased as a result of the expanding travel and tourism sector in Europe. The Asia Pacific is the growing with the fastest CAGR across the world in terms of market share due to India and China were the two main markets that produced significant revenue for the on-road motorbike market in 2020, according to Mark Lines Co., Ltd. OEMs are building manufacturing facilities in these nations to avoid paying import charges and to gain a competitive edge in the motorcycle industry due to the high demand for on-road motorcycles in growing Asian nations like India, Japan, Indonesia, and Vietnam. As a result, it is anticipated that the aforementioned variables will help to drive up on-road motorcycle sales in the area.
Major market players included in this report are:
Yamaha Motor Co., Ltd.
Ducati Motor Holding S.p.A.
Honda Motor Co., Ltd.
Kawasaki Heavy Industries, Ltd.
Suzuki Motor Corporation
Hero MotoCorp Limited
Bajaj Auto Ltd.
TVS Motor Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed inApplicationation about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type Outlook
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global On-road Motorcycles Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers