Motorcycle Market Size, Share, Growth Analysis, By Type(Standard, Sports, and Cruiser), By Propulsion type(ICE and electric), By Engine Capacity(Up to 150 CC, 151-300 CC, 301-500 CC, 501-800 CC), By Region - Industry Forecast 2024-2031

Motorcycle Market size was valued at USD 124.5 billion in 2022 and is poised to grow from USD 129.8 billion in 2023 to USD 189.3 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

The global COVID-19 pandemic has been unexpected and shocking, with demand exceeding expectations in every region compared to pre-pandemic levels. Our data shows that the global bike market showed an increase of 8.11 percent in 2019 over 2019. Often referred to as a "bike," a motorcycle is a two-wheeled motor vehicle textile frames Motorcycles are outfitted with an engine, several electrical, mechanical parts. These bikes' designs differ greatly to accommodate different for a variety of activities, including as commuting, cruising, long-distance travel, sports, racing, and riding off-road. Bikes are being used as more and more affordable private transport throughout the previous ten years. Despite the fact that the automobile sector has seen gains sales significantly grew, macroeconomic variables including rising disposable income, and greater urbanisation has boosted cross-regional market sales even more. Additionally, manufacturers are working to increase mileage and add amenities like bucket seats, air-cooled engines, bigger fuel tanks, distinctive horns, and Bluetooth speakers systems that will give the market prospects in the upcoming years. According to a Motorcycles Data study published in December 2020, the ATV/RUV categorization promoted the massively expanding U.S. bicycle industry in 2019. Based on the data, greater than 4% more U.S. production is anticipated as a result of the rise in demand in 2019.

US Motorcycle Market is poised to grow at a sustainable CAGR for the next forcast year.