The Global Market for Motorcycles, Scooters and Mopeds is Projected to Reach 71 Million Units by 2024

Developing Markets and Economic Stability in Developed Markets Drive the Global Motorcycles, Scooters and Mopeds Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Motorcycles, Scooters and Mopeds market. The global market for Motorcycles, Scooters and Mopeds is projected to reach 71 million units by 2024, driven by sustained demand from developing markets and revival of growth motorcycle markets in developed countries owing to economic stability.

Powered two-wheelers fulfill a strong need for convenience, speed, and personal mobility. Divided into three segments, the powered two-wheelers market is replete with instances of changing market patterns. The last two decades have comprehensively transformed global powered two-wheelers market with demand often outgrowing expectations, beating market calculations. Favorable demographic trends, including rising number of female two-wheeler riders has provided much required traction to motorcycles, scooters and mopeds market over the years. Migration of rural population to urban areas, growth in geographic expanse of urban centers, and subsequent rise in mobility needs, have also played important part in the growth of powered two-wheelers market globally over the years.

More than 90% of the two-wheeler market is concentrated in emerging markets of Asia-Pacific, Latin America, and the Middle East. In developed markets in North America and Europe motorcycles are discretionary purchases for pleasure driving. On the other hand, two-wheelers represent the primary vehicle for commuting in developing markets in Asia and Latin America. These vehicles are primarily small displacement motorcycles, scooters, and mopeds, compared to developed to western markets where motorcycles with high displacement represent the major market. As such, Asian and Latin American markets, and to an extent markets in the Middle East & Africa dominate the two-wheeler market and are expected to witness continued growth in future. However, within these regions, there exist pockets of volatility driven by economic factors or regulations. For instance, China, which was till recently the largest market for two-wheelers, has been witnessing continuous declines owing to government regulations for two-wheelers in major cities. On the other hand, Indonesia, one of the major markets for two-wheelers, has been witnessing volatility in the market owing to economic factors. Similarly, Brazil, and other Latin American countries, as well as oil dependent economies in the Middle East & Africa, have also been affected by economic vagaries arising from low oil prices.

In developed markets of North America, and Europe, two-wheeler purchases are recreational in nature as opposed to commuter requirements in developing markets. As such, the state of the economy plays an important role in the development of the two-wheeler markets in developed regions. With most of the markets on a growth curve after subdued economic growth or decline, following the economic recession in 2009, the market for two-wheelers, especially, large motorcycles used for recreational purposes have been on an upswing in the recent past. The slew of new models being launched by various manufacturers stands testament to this.

As stated by the new market research report on Motorcycles, Scooters and Mopeds, Asia-Pacific represents the largest market worldwide. Latin America is forecast to emerge as the fastest growing market with a CAGR of 6.6% over the analysis period. Evolving from a slowdown, the region is expected to witness a healthy recovery for powered two-wheelers. Rest of World, comprising of the Middle East and African countries, is also expected to offer substantial opportunities owing to favorable demographics in the region

Major players in the market include Bajaj Auto Limited, BMW Group, China Jialing Industrial Co., Ltd., Ducati Motor Holding SpA, Harley-Davidson Inc., Hero MotoCorp Ltd., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., KTM AG, Lifan Industry (Group) Company, Piaggio & C. SpA, Polaris Industries Inc., Suzuki Motor Corporation, Triumph Motorcycle Limited, and Yamaha Motor Co. Ltd., among others.

The research report titled "Motorcycles, Scooters and Mopeds: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in units for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, India, Indonesia, Malaysia, Philippines, Taiwan, Thailand, Vietnam, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World.

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