Motorcycle And Bicycle Market Characteristics
The motorcycle and bicycle market consists of sales of motorcycle, bicycles and parts by entities (organizations, sole traders and partnerships) that produce motorcycles, scooters, tricycles and similar equipment and parts.
Competitive Landscape of the Motorcycle And Bicycle Market
Major players in the global motorcycle and bicycle market include Yamaha, Honda, BMW, Harley Davidson, and Kawasaki.
Motorcycle And Bicycle Market Size
The motorcycle and bicycle market size is expected to increase by 2022, significantly growing at a CAGR of around 2.5% during the forecast period. The growth in the motorcycle and bicycle market is due to rapid increase in population and rising private investments in automotive industry in emerging economies.
However, the market for motorcycle and bicycle is expected to face certain restraints from several factors such as rising costs of raw materials and maintenance costs.
Motorcycle And Bicycle Market Segmentation
The global motorcycle and bicycle market is further segmented based on type and geography.
By Type - The motorcycle and bicycle market is segmented into motorcycles and parts, bicycles and parts, motor scooters, others - motorcycle and bicycle. Among these segments, the motorcycles and parts market accounts for the largest share in the global motorcycle and bicycle market.
By Geography - The global motorcycle and bicycle is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific region accounts for the largest share in the global motorcycle and bicycle market.
Trends in the Motorcycle And Bicycle Market
Vehicle to vehicle communication and infotainment systems are the important technology trends in motorcycle safety. These infotainment systems have been highly adopted by companies such as Harley-Davidson, BMW and Honda bringing connectivity, entertainment and information to riders and providing important information in the most convenient manner. However, the more interesting development in Vehicle to vehicle technology new smartphone apps and Intelligent Transport Systems (ITS) and self-driving autonomous vehicles.
Potential Opportunities in the Motorcycle And Bicycle Market
With increase in population and rise in investments in automotive industry, the scope and potential for the global motorcycle and bicycle market is expected to significantly rise in the forecast period.