Reports and Insights has published a new report titled, “Motorcycle Market: Opportunity Analysis and Future Assessment 2020-30” analyzed by Product (Motorcycles (Standard Motorcycles, Cruiser, Sports Motorcycles, Mopeds, Electric Motorcycles, Others), Scooters (Standard Scooters, Maxi Scooters, Enclosed Scooters, Three-wheeled Scooters, Electric Scooters)), By Technology (IC Engine Motorcycles, Up to 150cc Motorcycles, 151-300cc Motorcycles, 301-500cc Motorcycles, Above 500cc Motorcycles, All Electric Motorcycles) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global motorcycle market is expected to reach at a value of US$ 530.0 Bn by 2030 end at a CAGR of 6.4%. In 2021, Asia Pacific region is accounted for the largest market share in comparison to other regions.
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Motorcycle Market Dynamics
One of the major factors that is primarily driving the demand of motorcycles all across the markets is the rising demand for affordable and efficient modes of transportation which is predicted to elevate the market growth significantly over the forthcoming years as the worldwide middle-class population is proliferating tremendously.
Motorcycles are progressively being observed as a reliable and reasonable alternative, and therefore, demand for scooters and motorcycles is projected to rise over the years. In addition to that, the key players of the market, witnessing the soaring demand worldwide, are constantly focusing on equipping motorbikes and scooters with various advanced leading-edge technology further enhancing the comfort and safety of the users. Such factors are further playing a significant role in propelling the growth of the global motorcycle market.
Moreover, the latest models of motorbikes with advanced technologies are swiftly appealing to the young consumers worldwide, thereby estimated to accelerate the market growth in the following years. Furthermore, in the present day’s contemporary world, the trend of electric vehicles has risen considerably to have numerous benefits over conventional motorcycles owing to a range of beneficial properties such as quiet operations, fuel efficiency, and negligible noise. Said factors are further projected to offer significant growth to the global motorcycle market over the coming years.
To view Top Players, Segmentation and other Statistics of Motorcycle Industry, Read Report Description: https://reportsandinsights.com/pressrelease/motorcycle-market
Motorcycle Market Segmentation
The global motorcycle market is segmented on the basis of product, technology and region.
By Product
Motorcycles
Standard Motorcycles
Cruiser
Sports Motorcycles
Mopeds
Electric Motorcycles
Others
Scooters
Standard Scooters
Maxi Scooters
Enclosed Scooters
Three-wheeled Scooters
Electric Scooters
By Technology
IC Engine Motorcycles
Up to 150cc Motorcycles
151-300cc Motorcycles
301-500cc Motorcycles
Above 500cc Motorcycles
All Electric Motorcycles
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Motorcycle Market Key Players
The key participating players of the global motorcycle market include Triumph Motorcycles Ltd., Bajaj Auto Ltd., Bayerische Motoren Werke (BMW) AG, Ducati Motor Holding S.p.A., Eicher Motors Limited, Harley-Davidson, Inc., Hero MotoCorp Ltd., Honda Motor Co., Ltd., KTM AG, among others.
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Comparing to the size of our country the motorcycle market is not that small here, also the demand is quite great in this crowded land.
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