A new market study, titled “Discover Global Motorcycle Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
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 =>
Several companies are playing crucial roles in the global motorcycle market and they are BMW, 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., Kawasaki, and others.
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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