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On-Road Motorcycles Global Market Report 2022: Ukraine-Russia War Impact

November 2022
175 pages
ID: 6364844
Format: PDF
The Business Research Company

Summary

Table of Contents

Major players in the on-road motorcycles market are Harley-Davidson Incorporation, Yamaha Motor Co Ltd, Ducati Motor Holding S.p.A, Honda Motor Co Ltd, Kawasaki Heavy Industries Ltd, BMW AG, Suzuki Motor Corporation, Hero MotoCorp Limited, Bajaj Auto Ltd, TVS Motor Company, Triumph Bikes, Aprilia , KTM Sportmotorcycle GmbH, Royal Enfield, and Moto Guzzi

The global on-road motorcycles market is expected to grow from $50.32 billion in 2021 to $55.41 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. on-road motorcycles market is expected to grow to $82.02 billion in 2026 at a compound annual growth rate (CAGR) of 10.3%.

The on-road motorcycles market consists of sales of on-road motorcycles by entities (organizations, sole traders, and partnerships) that are used to ride on paved roads and highways for everyday use. On-road motorcycles refer to on-road vehicles that are built with fiber and metallic frames with an engine and various mechanical and electronic components and are also known as street motorcycles.

The main types of on-road motorcycles are sports bikes, cruiser motorcycles, touring motorcycles, and standard motorcycles.A sports bike refers to a motorcycle designed and optimized for speed, acceleration, and braking, and emphasizes top speed, acceleration, handling, braking, and grip.

The various applications include personal and commercial. The various end-users include offline and online.

Asia Pacific was the largest region in the on-road motorcycles market in 2021.North America is expected to be the fastest-growing region in the forecast period.

The regions covered in on-road motorcycles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rising number of motorbike sports users is expected to propel the growth of the on-road motorcycle market going forward.Motorbike sport is a broad field that encompasses all sporting aspects of motorcycling.

In motorbike racing and other motorbike sports, on-road bikes are used as they are much faster than off-road bikes and motorbike sports users use their on-road motorcycles for riding around the pits or staging areas of a motocross races and other motorbike sports. For instance, according to the Insurance Institute for Highway Safety (IIHS), a US-based non-profit organization, registration for the sports bike segment in the United States, raised from 4.17 lakh in 2019 to 4.31 lakh in 2022. Therefore, the rising number of motorbike sports users is driving the on-road motorcycle market.

Product innovation is a key trend gaining popularity in the on-road motorcycle market.Major companies operating in the on-road motorcycle market are developing new products to sustain their position in the on-road motorcycle market.

For instance, in August 2019, Revolt Intellicorp, an India-based automotive company operating in the on-road motorcycles market launched AI-enabled electric bikes, the Revolt RV 400 and RV 300, which is an on-road street bike with unique features including a top speed of 85 km/hr and a removable battery pack, a connected helmet, with inbuilt speakers and microphone, which can be used to activate the motorcycle via voice commands, also offers riders a choice to change the sound of the electric bike.

In April 2020, TVS Motor Company, an India-based motorcycle manufacturing company, acquired The Norton Motorcycle Company Limited for the deal amount of $19.15 million. Through this acquisition, TVS Motor Company aims to scale globally and strengthen its product portfolio to cater to the needs of its customers. The Norton Motorcycle Company Limited is a UK-based on-road motorcycle manufacturing brand, with a portfolio that includes the first road bikes based on race bikes, V4SS and V4RR.

The countries covered in the on-road motorcycles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The on-road motorcycle market research report is one of a series of new reports that provides on-road motorcycle market statistics, including on-road motorcycle industry global market size, regional shares, competitors with an on-road motorcycle market share, detailed on-road motorcycle market segments, market trends and opportunities, and any further data you may need to thrive in the on-road motorcycle industry. This on-road motorcycle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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