The number of motorcycles in the US stood at 8.9703 million in 2023. Over the past decade, the motorcycle market demonstrated modest year-on-year variations with slight fluctuations. Between 2013 and 2019, the market experienced gradual growth. However, a notable dip occurred in 2020, followed by a sharp recovery in 2021 and continued growth up to 2023. The average annual change (CAGR) over the last five years is 0.48%, indicating steady, moderate growth.
The forecast for the next five years suggests continued growth at an average annual rate (CAGR) of 0.39%, with the market expected to reach 9.1588 million motorcycles by 2028, representing a total growth of 1.95% over this period.
Future trends to watch for include advancements in electric motorcycles, shifts in consumer preferences towards sustainable and eco-friendly options, and potential impacts of changing regulations. Additionally, economic conditions and fuel prices will play critical roles in influencing market dynamics.
