Global Motorcycles, Scooters and Mopeds Market to Reach 61.6 Million Units by 2026

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Mar 11, 2022, 10:35 ET

SAN FRANCISCO, March 11, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Motorcycles, Scooters and Mopeds - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE

What's New for 2022?

Motorcycles, Scooters and Mopeds - FEB 2022 Report

Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
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Edition: 19; Released: February 2022
Executive Pool: 1344
Companies: 127 - Players covered include Bajaj Auto Limited; BMW Group; Ducati Motor Holding SpA; Harley-Davidson, Inc.; Hero MotoCorp Ltd.; Honda Motor Co., Ltd.; Honda Italia Industriale S.p.A.; Honda Motorcycle & Scooter India (Private) Ltd.; Kawasaki Heavy Industries, Ltd.; KTM AG (Austria); Lifan Industry (Group) Company; Piaggio & C. SpA; Polaris Industries Inc.; Suzuki Motor Corporation; Triumph Motorcycles Limited; Yamaha Motor Co., Ltd.; India Yamaha Motor Pvt. Ltd.; Yamaha Motor Taiwan Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Segment (Motorcycles, Scooters and Mopeds)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; India; Indonesia; Thailand; Vietnam; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Rest of World.

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ABSTRACT-

Global Motorcycles, Scooters and Mopeds Market to Reach 61.6 Million Units by 2026
Amid the COVID-19 crisis, the global market for Motorcycles, Scooters and Mopeds estimated at 48.7 Million Units in the year 2022, is projected to reach a revised size of 61.6 Million Units by 2026, growing at a CAGR of 4.7% over the analysis period. Small-displacement, full-sized motorcycle models have been witnessing increasing consumer acceptance in the US and other countries since the pre-pandemic phase. The trend has gained considerable traction among both experienced and new riders. Motorcycles within the 200-400cc range that struggled to find space in the US market are now enjoying increasing consumer attention. Powered by innovations and quality components, these affordable, single-/twin-cylinder machines are witnessing higher uptake globally. New rides, including women riders, are spending on emerging models that also cover retro-styled approachable 125cc models. With 125cc engine along with decent features like better gas mileage, ABS brakes and fuel injection systems, these motorcycles are shifting consumer attention away from large, outdated machines. Modern 125cc models such as the retro-cool Honda Monkey and Kawasaki Z125 are capable of attaining 50mph that is adequate for people to navigate through city streets. In addition, new sub-400cc bike models are offering a perfect component to add the fun element. The trend has prompted companies such as Honda to come up with new models to tap the opportunity. Rising personal mobility needs of the growing global population, increasing number of young and middle class population, rising employment rates and improving disposable incomes are all poised to benefit the market growth in the near to mid-term.

The U.S. Market is Estimated at 430 Thousand Units in 2022, While China is Forecast to Reach 9.7 Million Units
The Motorcycles, Scooters and Mopeds market in the U.S. is estimated at 430 Thousand Units in the year 2022. The country currently accounts for a 0.9% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of 9.7 Million Units in the year 2026 trailing a CAGR of 5.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.5% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR while Rest of European market (as defined in the study) will reach 10.3 Million Units by the close of the analysis period.

Several governments are offering incentives to promote electric models, supporting associated programs such as ride sharing, and improving the transportation infrastructure. The introduction of latest high-performance medium to heavy models of internal combustion engine models intended to push replacement and new demand is expected to drive revenue growth. In addition, increasing uptake of electric scooters, e-bikes and motorcycles in Asian countries, excluding China, North America and Europe due to environmental concerns and rising air pollution is poised to further bolster the motorcycle market. Asia-Pacific is anticipated to continue maintaining its strong position in the motorcycle market, despite weak performance of China. The region is estimated to account for around two-third of the global demand through 2024, which can be attributed to strong contribution from emerging economies. The motorcycle market in developing countries across Asia-Pacific is slated to gain from sizeable population base, decent economic performance, limited public transit options and moderate level of motorcycle stocks. More

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