Motorcycle Market Expected to Experience Bolstering Sales during Forecast Period
Posted by Arslan on July 12th, 2019
Fact.MR has published a new research report titled “Motorcycle Market Forecast, Trend Analysis & Competition Tracking - Global Review 2017 to 2026”, which ardently focuses on the growth status of the global motorcycle market in the coming years. This report highpoints that development of enhanced safety mechanisms for safeguarding drivers, merged with improved suspension systems for adding comfort are known to impact buying behavior. Furthermore, increased focus towards road-traffic infrastructure is expected to aid the bolstering growth of the motorcycle market.
According to this Fact.MR study, the motorcycle market is likely to observe steady growth during the 2017-2026 period. It is estimated that global sales of motorcycles will reach 40 million units in 2019. The contribution by leading manufacturers is fueling the global motorcycle market to expand itself and reach a wider consumer population. As a result, the target market is projected to advance at 3.8% CAGR until 2026. Development of refined safety mechanisms to lessen the frequency of accidents is one of the prime factors that is expected to bolster motorcycle sales in the near future.
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Escalating Demand in Recreational & Leisure Activities Likely to Motivate Growth
With a brief view at the ongoing trend, motorcycle rides are gradually being promoted as a form of rejuvenation. There have been studies that link motorbike rides to reduce stress levels and further enhance concentration levels. All such factors have equally contributed to swell the demand for motorcycles in recreational and leisure activities. In addition, the concept of experiential traveling is gaining traction, thereby, developing as a pervasive trend steering demand for sports motorcycles, adventure bikes and cruisers.
Sales of Standard Bikes across APEJ to Support Demand for 150cc Capacity Engines
It has been observed that developing countries across the APAC region are known to acquire a significant share of standard motorcycles sales at the global level. Demand for standard bikes in developing regions is buttressed by better fuel efficiency, rising prices of fossil fuels, and swelling traffic congestion. Accessibility of a variety of options to finance motorcycle purchase is backing the propagation of the motorcycle market. Interestingly, these options are permitting rural population of developing economies to avail bikes; a section where motorcycle demand is taking a major flight.
Evolution of Electric Bikes to Stifle Motorcycle Sales
As per this Fact.MR assessment, the gradual development of electric bikes is projected to impose a serious risk to motorcycle market growth. Improvements in technology for the production of electric bikes is permitting manufacturers to introducing e-bikes which can provide the same acceleration similar to electric motorcycles. Additionally, the accessibility of affordable e-bike models is predicted to find an extended consumer base unlike expensive electric motorcycles. However, on the broader picture, the overall impact of the propagation of e-bikes is likely to limit motorcycle market growth.
The final section of the assessment discusses the efforts of major players operating in the global motorcycle market. Some of the prime manufacturers as mentioned in the report are Kawasaki Heavy Industries, Ltd., Lifan Industry (Group) Co., Ltd, Triumph Motorcycles Limited, TVS Motor Company Limited, Suzuki Motor Corporation, Eicher Motors Limited, Limited, Hero MotorCorp Limited, Honda Motor Company, Bayerische Motoren Werke AG and Polaris Industries Inc.
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About the AuthorArslan
Joined: December 18th, 2017
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