The US Motorcycle market for vehicles with spark ignition engines of 50-250cc experienced varied growth trends from 2013 to 2023. The market exhibited a steady increase until it encountered a dip in 2020, influenced by external factors presumably related to the pandemic. It rebounded robustly in 2021 and continued to show positive albeit moderated growth in subsequent years, reaching a market size of $2.6174 billion in 2023.
From 2023 onward, forecasted data predicts that the market will continue to grow modestly. The compounded annual growth rate (CAGR) from 2023 to 2028 is projected to be 1.39%, implying a steady but slow rise. The growth rate over these five years is anticipated to be around 7.15% cumulatively.
Trends over the last two years:
- 2022: +7.21% YoY
- 2023: +1.78% YoY
Last five years' CAGR (2019-2023): 1.81%
Future trends to watch for include a potential increase in demand driven by economic recovery post-pandemic, technological advancements in motorcycle engines, and a shift towards eco-friendly and efficient modes of transportation. Additionally, market players might focus on enhancing user experience with connected and smart motorcycle features to attract a new generation of riders.
