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Motorcycle Market Trends

  • Report ID: GMI7762
  • Published Date: Jan 2024
  • Report Format: PDF

Motorcycle Market Trends

The increasing adoption of adventure touring bikes is a notable trend propelling the market forward. It reflects changing consumer preferences, with riders seeking versatile machines capable of both on-road and off-road adventures. Additionally, the emphasis on design and functionality plays a pivotal role, shaping innovative features and aesthetics. The manufacturers are responding to these trends by offering a diverse range of bikes that cater to the evolving needs and aspirations of riders worldwide.
 

Furthermore, the manufacturers are engaged in developing bikes, incorporating cutting-edge features, and integrating the latest technological advancements to maintain their market presence. For instance, in 2023, Honda Motorcycle & Scooter India (HMSI) released the highly acclaimed adventure tourer, 'XL750 Transalp.' This internationally renowned model features a design emphasizing unity, blending a compact headlight, an integrated windscreen, and sizable tank shrouds for a bold yet aerodynamic profile. The rugged rear design complements the adventure style, incorporating an aluminum rear carrier and an LED lighting system for enhanced functionality.
 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The motorcycle industry was valued at USD 106.8 billion in 2023 and is anticipated to register a CAGR of 8.5% between 2024 and 2032, driven by technological strides in engine development and enhanced purchasing power.

The standard motorcycles segment accounted for around 17% of the market share in 2023 and is anticipated to grow significantly in the coming years, owing to its versatility, reasonable pricing, and adaptability to different riding styles.

Asia Pacific Motorcycle Market held a revenue share of around 46% in 2022 and is poised for substantial growth through 2032, driven by a rising population and increasing disposable income.

Bajaj Auto, Energica Motor Company, Harley Davidson, and Hero are some of the major industry contenders.

Motorcycle Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 280
  • Countries covered: 21
  • Pages: 220
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