What Has Been the Growth Trajectory of the On-Road Motorcycles Market?
The on-road motorcycles market has seen considerable growth due to a variety of factors.
• The market for on-road motorcycles has seen a rapid expansion in recent times. It is projected to rise from $67.85 billion in 2024 to $74.65 billion in 2025, achieving a compound annual growth rate (CAGR) of 10.0%.
Factors such as lifestyle allure, cultural appeal, fuel efficiency, urban transport benefits, the rise of new markets, motorcycle clubs and communities, and safety regulations have contributed to this growth in the historical timeframe.
What Does the Future Hold for the On-Road Motorcycles Market?
The on-road motorcycles market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the on-road motorcycles market is anticipated to experience swift expansion. The projected growth suggests a rise to $117.55 billion in 2029, with a compound annual growth rate (CAGR) of 12.0%.
This growth within the projected period can be associated with lifestyle and cultural shifts, environmental consciousness, fiscal conditions, economic influencing factors, the introduction of electric motorcycles, market growth in developing economies, and shared mobility services. Key trends within this period include the incorporation of technology, improved connectivity, the production of lightweight and compact models, the rise of electric motorcycles, and the resurgence of retro and vintage styles.
What Main Forces Are Fueling Expansion In The On-Road Motorcycles Market?
The growth of the on-road motorcycles market is predicted to be bolstered by the increasing amount of motorbike sport enthusiasts. Motorbike sport, inclusive of all sporting pursuits involving motorcycling, often employs the use of on-road bikes as they boast greater speed compared to off-road variants. Motorbike sport participants often ride these on-road motorcycles in the pits or staging areas during motocross races and other similar sporting events. For example, the non-profit organization based in the United States, the Insurance Institute for Highway Safety (IIHS), reported that in 2022, there were 4.31 lakh registered sports bike users in the United States. Therefore, the escalating number of motorbike sports enthusiasts is contributing to the drive of the on-road motorcycles market.
What Are The Primary Segments In The Global On-Road Motorcycles Market?
The on-road motorcycles market covered in this report is segmented –
1) By Type: Sports Bikes, Cruiser Motorcycles, Touring Motorcycles, Standard Motorcycles
2) By Application: Personal, Commercial
3) By End User: Offline, Online
Subsegments:
1) By Sports Bikes: Superbikes, SuperSport Bikes, Naked Sports Bikes, Adventure Sport Bikes
2) By Cruiser Motorcycles: Classic Cruisers, Power Cruisers, Touring Cruisers, Custom Cruisers
3) By Touring Motorcycles: Full-Size Touring Bikes, Adventure Touring Bikes, Sport Touring Bikes, Lightweight Touring Bikes
4) By Standard Motorcycles: Retro Standards, Commuter Motorcycles, Universal Motorcycles, Dual-Sport Motorcycles
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Which Key Trends Are Driving Changes In The On-Road Motorcycles Market?
The trend of product innovation is increasingly finding favor in the on-road motorcycles market. Major enterprises functioning in this sector are introducing novel products in a bid to bolster their standing. Case in point, MG, a British car manufacturing brand, unveiled its pioneering MG4 electric car in Europe in September 2022. The MG4 electric represents the start of a new series of MG vehicles made on the advanced new Modular Scalable Platform (MSP) created by SAIC.
Who Are the Key Players in the On-Road Motorcycles Market?
Major companies operating in the on-road motorcycles market include:
• Harley-Davidson Incorporation
• Yamaha Motor Co. Ltd.
• Ducati Motor Holding SpA
• Honda Motor Co. Ltd.
• Kawasaki Heavy Industries Ltd.
• Suzuki Motor Corporation
• Triumph Motorcycles Ltd.
• Bayerische Motoren Werke AG
• KTM AG
• Aprilia SpA
• Moto Guzzi
• Vespa
• Indian Motorcycle International LLC
• Husqvarna Motorcycles GmbH
• Royal Enfield
• MV Agusta Motor SpA
• Bajaj Auto Limited
• Benelli QJ
• Hyosung TNC Co. Ltd.
• Zero Motorcycles Inc.
• IMZ-Ural
• Norton Motorcycle Co. Ltd.
• Lightning Motorcycles Crop.
• Guangdong Tayo Motorcycle Technology Co. Ltd.
• Bimota
• Voxan Motors
What Is The Most Dominant Region In The On-Road Motorcycles Market?
Asia-Pacific was the largest region in the on-road motorcycles market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the on-road motorcycles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
