A new market study, titled “Discover Motorcycle Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
PUNE, MAHARASTRA, INDIA, July 1, 2020 /EINPresswire.com/ — Introduction
Motorcycle Market 2020
Motorcycles are designed as two-wheeled vehicles with internal combustion engine to power the movement. Strong metallic and fiber frames are used in the manufacturing process of motorcycles. Electric motorcycles are also becoming a trend as lot of people who are ecologically aware and want to save fuel cost are opting for this. The global motorcycle market is gaining strong traction to register notable growth in the coming years.
The market is mostly getting driven by factors like the rising inclusion of motorcycles in the racing industry, affordability, rise in the number of middle-class people, evolution of motorcycle as a luxury product, low cost maintenance, longevity, and others. However, the global motorcycle market can also be daunted by the risk associated with the riding of it. A slight accident can turn fatal, which is having a negative impact on the global motorcycle market.
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Key Players of Global Motorcycle Market =>
• Bajaj Auto
• Ducati Motor Holding S.p.A
• Harley-Davidson, Inc.
• Yamaha Motors Co., Ltd.
• TVS Motor Company Ltd.
• KTM AG
• Piaggio & C. Spa
• Hero MotoCorp Ltd.,
• Honda Motor Co. Ltd.
Motorcycle Market- Segment Analysis
By Product type, the Global Motorcycle Market is divided into geared vehicles and non-geared vehicles. The geared vehicles take the lead in this division. Most consumers prefer to use them primarily due to their fuel efficiency, and easy manoeuvrability through narrow spaces. Geared vehicles are further sub-segmented into standard bikes, cruisers, sports bikes, etc. The bike market, though, was hit in the 1st quarter of 2019 owing to the similar declines in major markets-namely, India and China. By technology, the Global Motorcycle Market is segmented into electric and non-electric/motorcycles which run on combustible engines. Although the non-electric motorcycles have a huge market share, their electric counterparts are forecasted to grow at a healthy rate in the near future, given that the world as a whole is looking to reduce its non-renewable resource usage, and cut down on emissions. The electric motorcycles are mainly comprised in two battery types – Sealed Lead Acid (SLA) and Lithium Ion (Li-Ion) batteries. While electric vehicles consisting of SLA batteries dominated the market due to their cheap price, recent trends show that the Li-Ion batteries have seen a steady decline in prices which would eventually lead them to dominate in the forecast period, since they have a high density, and high drive range. By application, the Global Motorcycle Market is segmented into motorcycles for transport, and motorcycles for racing. Motorcycles for transport leads this segment. The transport segment leads here because the demand for racing bikes can be considered particularly niche, given that bikes with a range of 150cc-200cc would suffice for a daily commute
The objective of the study is to closely define the size of the Global Motorcycle Market cross different segments & nations in recent years and to forecast a valuation of the market. The report is proficiently designed to integrate both quantitative and qualitative aspects of the industry across every region and countries. Moreover, the report also gives detailed information about vital aspects like the growth drivers and challenges of the market. Add to this, the report also mentions the available and potential opportunities in the micro markets for stakeholders to invest upon. Lastly, it covers the present competitive landscape, the various technological trends, the latest offerings launched by the market players, developments like acquisition and collaboration, and others. It lists the profiles of various players in the market, which includes both leaders as well as the emerging players.
The global motorcycle market can be segmented on the basis of product type, technology, and application. The report provides a strong ground for future evaluation by developing a detailed study on the same market.
Based on the type, the global motorcycle market can be segmented into geared vehicles and non-geared vehicles. Both the types are quite popular in the market. Several forms are also available to substantiate the market demand for the same.
Based on the technology, the global motorcycle market can be segmented into electric and non-electric vehicles. The non-electric segment uses fuel as its power source. Recent changes in the market has given boost to the global electric motorcycle segment.
Based on the application, the global motorcycle market can be segmented into motorcycle for transport and motorcycle for racing. The motorcycle for transport segment has substantial market, However, the motorcycle for racing segment is fast gaining accolades as racing in sports industry is gaining popularity.
North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa (MEA) are five regions that can be considered in the reading of the global motorcycle market report. Such segmentation allows better understanding of the global market as it reveals growth pockets.
North America is impacting the market considerably. This is due to the popularity of motorcycle as a racing machine. Infrastructures are quite robust and high investment capacity is giving the market strong boost. Several companies are based out of this region. Europe is also having similar features to support the regional market. In addition, both these regions are having strong investment in R & D facilities.
The APAC market is quite big and many countries are having good sales in motorcycle for transport category.
In August 2019, Bajaj Auto and KTM declared that they are working on high-end electricity motorcycles to enter the global electric bike market.
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Major Key Points of Global Motorcycle Market
• Global MOTORCYCLES Market Methodology and Scope
• Global MOTORCYCLES Market – Market Definition and Overview
• Global MOTORCYCLES Market – Executive Summary
• Global MOTORCYCLES Market – Market Dynamics
• Global MOTORCYCLES Market – Industry Analysis
• Global MOTORCYCLES Market – By Technology
• Global MOTORCYCLES Market – By Application
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Source: EIN Presswire