Dublin, Oct. 25, 2022 (GLOBE NEWSWIRE) — The “Motorcycle And Bicycle Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offerings.
This report provides strategists, marketers, and senior management with the critical information they need to assess the global Motorcycle and Bicycle market as it emerges from the shutdown of COVID-19.
The global motorcycle and bicycle market is expected to grow from $67.03 billion in 2021 to $72.99 billion in 2022 at a compound annual growth rate (CAGR) of 8.9%. The market is expected to grow to $98.95 billion by 2026 with a compound annual growth rate (CAGR) of 7.9%.
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The major companies in the motorcycle, bicycle and parts market are Honda Motor Co Ltd, Hero MotoCorp Ltd, Harley-Davidson Inc., TVS Motor Company Limited, Suzuki Motor Corp, Bajaj Auto Ltd, Bayerische Motoren Werke AG, Kawasaki Heavy Industries, Accell Group NV and Toyota Tsusho.
The motorcycle, bicycle and parts market consists of the sale of motorcycles, bicycles and parts and related services by entities (organizations, sole proprietors and partnerships) that manufacture motorcycles, scooters, tricycles and similar equipment and parts.
The main types in the motorcycle, bicycle and parts market are motorcycles and parts, bicycles and parts, scooters, other motorcycles and bicycles. The scooter is called an entry-level frame and a platform for the rider’s feet that emphasizes comfort and fuel economy. The various distribution channels include independent retailers, online sales. These are used in OEM and aftermarket.
Asia Pacific was the largest region in the motorcycle and bicycle market in 2021. Western Europe was the second largest region in the motorcycle and bicycle market. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Advances in technology are expected to be a continued engine of market growth over the forecast period. The global motorcycle and bicycle industry has undergone many technological developments in the past ten years and this trend is expected to increase. According to Forbes, the ten new features expected in vehicles in 2020 include autonomous driving, driver ignoring systems, biometric vehicle access, comprehensive vehicle tracking, active storefronts, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to boost the motorcycle and bicycle market during the forecast period.
The outbreak of the coronavirus disease (COVID-19) has severely curtailed the motorcycle and bicycle market in 2020 as supply chains were disrupted due to trade restrictions and consumption fell due to global lockdowns imposed by governments. COVID-19 is a contagious disease with flu-like symptoms such as fever, cough and breathing difficulties. The virus was first identified in 2019 in Wuhan, Hubei Province of the People’s Republic of China, and has spread worldwide, including Western Europe, North America and Asia.
Transport manufacturers rely heavily on the supply of parts and components from various countries around the world. Because many governments restricted the movement of goods between countries, manufacturers had to stop production due to a lack of parts and components. New car sales also fell significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak continued to hurt businesses in 2020 and 2021. However, the motorcycle and bicycle market is expected to recover from the shock over the forecast period as it is a “black swan event” and unrelated to any lingering or fundamental weaknesses in the market or the global economy.
Bicycle manufacturers are increasingly investing in the production of electric bicycles that run on rechargeable batteries. These electric bicycles serve as an eco-friendly, low-cost mode of transportation and can also be used for recreational bike rides, shopping and errands. Major players are also investing in new electric bicycles equipped with internet and GPS. For example, Hero Cycles, a manufacturer of bicycles and bicycle-related products, launched its e-cycle called Lectro EHX20 in 2019 in collaboration with Yamaha Motor Company. Likewise, US-based bicycle manufacturer Bulls launched three lightweight electric bicycles in 2020.
The countries active in the motorcycle, bicycle and parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Main topics covered:
2. Report structure
3. Characteristics of the motorcycle and bicycle market3.1. Market definition3.2. Key segments
4. Product analysis of the motorcycle and bicycle market4.1. Leading products/services4.2. Main features and distinguishing factors4.3. Development Products
5. Motorcycle and bicycle supply chain5.1. Supply chain5.2. Distribution5.3. End customers
6. Customer information for motorcycles and bicycles 6.1. Customer preferences6.2. Market size and growth for end-use
7. Motorcycle and Bicycle Market Trends and Strategies
8. Impact of COVID-19 on Motorcycles and Bicycles
9. Size and growth of the motorcycle and bicycle market9.1. Market size9.2. Historic Market Growth, Value ($ Billion) 9.2.1. Market drivers 9.2.2. Restrictions on the market9.3. Expected market growth, value ($ billion)9.3.1. Market drivers 9.3.2. Restrictions on the market
10. Regional analysis of the motorcycle and bicycle market 10.1. Global Motorcycle and Bicycle Market, 2021, by Regions, Value ($Billion)10.2. Global Motorcycle and Bicycle Market, 2016-2021, 2021-2026F, 2031F, Historical and Forecast, by Regions10.3. Global Motorcycle and Bicycle Market, Growth and Market Share Comparison by Regions
11. Motorcycle and bicycle market segmentation11.1. Global Motorcycle and Bicycle Market, Segmentation by Type, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.2. Global Motorcycle and Bicycle Market, Segmentation by Propulsion Type, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.3. Global Motorcycle and Bicycle Market, Segmentation by Distribution Channel, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, $Billion
12. Motorcycle and bicycle market statistics12.1. Motorcycle and bicycle market size, percentage of GDP, 2016-2026, worldwide 12.2. Average spending on motorcycles and bicycles per capita, 2016-2026, worldwide
For more information on this report, please visit https://www.researchandmarkets.com/r/puxbtx
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