Motorcycles, Scooters and Mopeds Market by Type, Application, and Region - Global Market Size Estimation, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2030
Overview
Motorcycles, Scooters and Mopeds Market is anticipated to reach USD 557.22 Bn by 2030 from USD 342.50 Bn in 2023 at a CAGR of 7.2% during a forecast period.
Motorcycles, Scooters and Mopeds Market Overview
These motorcycles, scooters, and mopeds are easy to operate and transport because of their lightweight, disassemble, and folding function. The growing tourist industry and increasing traffic congestion levels are the major growth drivers for the motorcycle, scooters, and mopeds market in developing countries. Also with the increase in disposable income and rising urban population is boosting the sales of motorcycles, scooters, and mopeds across the globe. Thus, companies are highly investing in the production of more efficient motorcycles, scooters, and mopeds with the new electric two-wheelers.
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Motorcycles, Scooters and Mopeds Market Dynamics
These bikes are used for different activities like cruising, racing, long-distance traveling, and daily commuting. The integration of new technologies such as bluetooth speaker systems, bucket seats, navigation assistants, and unique horns are driving the consumer’s interest in the motorcycle, scooter, and mopeds. Manufacturers thus are investing in enhanced design activities to improve mileage and fuel consumption with more torque and advanced braking systems. For example, the anti-lock braking system and throttle control are gaining popularity among manufacturers, which is driving sales globally. Also, modern motorcycles are often equipped with slipper clutches that are designed to partially disengage when the rear wheel tries to drive the engine faster. These new attractive and low fuel consumption variants in the motorcycle, scooter, and mopeds are driving the market's growth.
Similarly, the growing availability of affordable models in developing countries and the introduction of new, top-of-the-line motorcycles, scooters, and mopeds drive the market's growth. The distinct design and style of these bikes have played a major role in increasing their hype in the market. The aspects considered in designs include shape, weight, color, and comfort. These bikes also offer better gas mileage than many cars thus, manufacturers are focusing on providing the latest and convenient technologies, which is expected to be one of the key factors driving the growth of the market.
The introduction of rules, incentives, and subsidies for electric two-wheelers and preference for clean energy transportation are the factors expected to hamper the market growth during the forecast period.
COVID-19 Impact on the Global Motorcycles, Scooters and Mopeds Market
COVID pandemic has a major impact on the market in terms of sales as more than 44% of sales of units are hampered owing to disruption in transport capabilities of the manufacturers due to stringent norms of lockdown and increasing safety concerns. Manufacturing operations have been halted, and the supply chain has been disrupted, resulting in a drop in motorcycle, scooter, and mopeds exports in the pandemic.
However the market gain momentum in the second half of 2021 due to the huge demand for individual mobility and more access to motorcycle finance alternatives. Thus, consumers turned to motorcycles for traveling as public transport remained less appealing due to the covid-19 pandemic. In 2021, global sales were 56.7 million, with the Indian market falling by 3.1 million units.
Motorcycles, Scooters and Mopeds Market Segmentation Analysis
By Type, the motorcycles segment dominated the market, with market size of US$ xx Mn. in 2023 and to reach US$ xx Mn. by 2030, with a CAGR of 4.3%. Rising personal incomes in many developing countries, more access to motorcycle finance alternatives, and worries about public transit overcrowding are the factors that contribute to the growth of the motorcycle segment.
The scooter sector is predicted to increase at the quickest rate. Electric scooters are gaining popularity in industries such as hospitality, safety, holiday, and tourism. Furthermore, the market has been flooded with low-cost scooters made by Chinese manufacturers, which has increased client demand for such scooters. However, government incentives to lower the total purchase price of electric scooters are expected to result in a considerable decline in conventional scooters.
By Application, the commercial segment was valued at US$ xx Mn. in 2023 and is projected to reach US$ xx Mn by 2030 at a CAGR of 12% during 2024-2030. The market is expected to rise as these bikes are mostly used for commercial activities like purposes like delivering food and ferrying people. The residential segment is expected to grow at 6% CAGR during the forecast period.
Motorcycles, Scooters and Mopeds Market Regional Insight
United States held the largest market share of xx% in 2023 and is projected to grow at the highest CAGR of 52% over 2024-2030. Germany is the leading country of the world’s second-largest market of motorcycles due to advanced manufacturing hubs and rising demand for various types of motorcycles. Germany is expected to expand at a CAGR of around 2.1 percent in Europe, while the rest of the European market is expected to reach 10.3 million units by 2030.
Due to rapid urbanization and heavy Chinese customer acceptance, the Asia Pacific region accounted for more than 42.0% of the global demand in 2023. China is the key market for the production and sale of these vehicles followed by Europe. Earlier it was valued at US$ XX Mn in 2023 and is estimated to reach US$ xx Mn by 2030 at a CAGR of 5.3% during the forecast period. Furthermore, the presence of a large customer base in the Asia Pacific has prompted manufacturers to explore the rental service market model using bikes. Furthermore, due to their high processing capacities and sufficient raw materials, China and Taiwan are prime locations for the manufacture of these vehicles.
The objective of the report is to present a comprehensive analysis of the Global Motorcycles, Scooters and Mopeds Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Motorcycles, Scooters and Mopeds Market dynamics, structure by analyzing the market segments and project the Global Motorcycles, Scooters and Mopeds Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Motorcycles, Scooters and Mopeds Market make the report investor’s guide.
Motorcycles, Scooters and Mopeds Market Scope: Inquire before buying
| Motorcycles, Scooters and Mopeds Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 342.50 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 7.2% | Market Size in 2030: | USD 557.22 Bn. |
| Segments Covered: | by Type | Motorcycles Scooters Mopeds |
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| by Application | Residential Commercial Other |
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Motorcycles, Scooters and Mopeds Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Motorcycles, Scooters and Mopeds Market, Key Players
1. Hero MotoCorp
2. TVS Motor
3. Yamaha
4. Bajaj Auto
5. Loncin Holding
6. Suzuki
7. Lifan Industry
8. Haojue
9. Sundiro Honda Motorcycle
10. Piaggio
11. Qianjiang Group
12. Guangzhou DaYun Motorcycle
13. Wuyang-Honda Motors
14. Chongqing Yinxiang Motorcycle
15. Kawasaki
16. JINYI MOTOR
17. Zongshen Industrial Group
18. Kwang Yang (Kymco)
19. Honda
20. Luoyang Northern Enterprises Group
Frequently Asked Questions:
1. Which region has the largest share in Global Market?
Ans: North America region held the highest share in 2023.
2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 7.2% during forecasting period 2024-2030.
3. What is scope of the Global market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global market?
Ans: The important key players in the Global Market are – Hero MotoCorp, TVS Motor, Yamaha, Bajaj Auto, Loncin Holding, Suzuki, Lifan Industry, Haojue, Sundiro Honda Motorcycle, Piaggio, Qianjiang Group, Guangzhou DaYun Motorcycle, Wuyang-Honda Motors, Chongqing Yinxiang Motorcycle, Kawasaki, JINYI MOTOR, Zongshen Industrial Group, Kwang Yang (Kymco), Honda, and Luoyang Northern Enterprises Group
5. What is the study period of this market?
Ans: The Global Market is studied from 2023 to 2030.