Global Motorcycle And Bicycle Market Drivers 2024, Forecast To 2033
17 Jan, 2024
The motorcycle and bicycle market have experienced substantial growth, climbing from $76.87 billion in 2023 to $81.33 billion in 2024, demonstrating a Compound Annual Growth Rate (CAGR) of 5.8%. Contributing factors include economic growth, urbanization, environmental concerns, and fluctuations in fuel prices. Forecasts predict sustained strong growth for the motorcycle and bicycle market, with an anticipated surge to $100.15 billion in 2028 at a CAGR of 5.3%. This growth is driven by trends such as the adoption of urban mobility solutions, increased focus on health and fitness, the rise of e-commerce and delivery services, and evolving regulatory changes. Noteworthy trends in the forecast period include electrification and lightweighting, advancements in materials, additive manufacturing, digitalization and connectivity, and collaborative partnerships.
Global Motorcycle And Bicycle Market Key Driver
Technological advances remain a driving force for the motorcycle and bicycle manufacturing industries. Forbes lists ten new vehicle features for 2021, such as blind-spot monitoring, heated seats, and advanced safety features, fueling market growth. Consumer awareness of benefits and cost savings in sustainable and net-zero homes is driving growth in the multifamily housing green buildings market, emphasizing environmental impacts, sustainability, and long-term cost savings.
Get A Free Sample Of The Global Motorcycle And Bicycle Market ReportGlobal Motorcycle And Bicycle Market Segments
The motorcycle and bicycle market covered in this report is segmented –
1) By Type: Motorcycles And Parts, Bicycles And Parts, Motor Scooters, Other Motorcycle And Bicycle
2) By Propulsion Type: Internal Combustion Engine (ICE), Electric
3) By Distribution Channel: Independent Retailers, Online Sales
By Geography: The regions covered in the motorcycle and bicycle market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the motorcycle and bicycle market in 2023. Western Europe was the second-largest region in the motorcycle and bicycle market. The regions covered in the motorcycle and bicycle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major Motorcycle And Bicycle Industry Players
EXOR Group, Robert Bosch GmbH, Aisin Seiki Co Ltd, Toyota Motor Corp, Denso Corp., Schaeffler Technologies AG & Co KG, Continental AG, Gestamp Automoción, Tata Motor Group, Dana Incorporated, Magna International Inc., ZF Friedrichshafen AG, Hyundai Motor Company, GKN Ltd., BorgWarner Inc., Valeo SA, JTEKT Corporation, Mahle GmbH, Autoliv Inc., Hitachi Automotive Systems Ltd., Nexteer Automotive Group Limited, American Axle & Manufacturing Holdings Inc., Tenneco Inc., Lear Corporation, Faurecia SA, Benteler Automotive Corporation, Linamar Corporation, Rheinmetall Automotive AG, Mando Corporation, WABCO Holdings Inc., Allison Transmission Holdings Inc., Cummins Inc., Eaton Corporation plc
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Motorcycle And Bicycle Market Overview
Motorcycle is a motorized vehicle with two wheels that can transport one or two persons. Bicycle is an automobile having two tandem wheels, handlebars for steering, a saddle seat, and pedals for propulsion.
Motorcycle And Bicycle Global Market Report 2023 provides data on the global motorcycle and bicycle market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The motorcycle and bicycle market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.