USD 39.18 Billion
Used Bike Market Size, Share, Growth Analysis, By Distribution Channel(C2C (Consumer-to-consumer), and B2C (Business-to-consumer)), By Source(Domestically Manufactured and Imported Bikes), By Engine Capacity(50 to 125cc, 125 to 250cc, above 250cc, and Electric Drive), By Type(Standard, Sports, Cruiser, Mopeds), By Propulsion(ICE and Electric), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2241 |
Region:
Global |
Published Date: April, 2024
Pages:
221
|Tables:
142
|Figures:
76
Used Bike Market Insights
Global Used Bike Market size was valued at USD 39.18 Billion in 2022 and is poised to grow from USD 41.74 Billion in 2023 to USD 69.06 Billion by 2031, growing at a CAGR of 6.50% in the forecast period (2024-2031).
The global used bike market is booming due to factors such as increase in sales generated from the internet, rising cost of new bikes and increased demand for two-wheelers due to traffic congestion but the high risk of accidents is hampering the growth of the market to some extent. However, rising demand for bike and taxi services and increasing adoption of electric motorcycles will provide the market with wage growth opportunities in the coming years. Used cars available for sale are used bicycles. Used bikes can be purchased from a variety of sources, including franchised and independent car dealers, bike rental businesses, retail outlets, private party stores, and car leasing companies due to higher fares and personal bike maintenance, millennials own fewer bikes overall. In addition, millennials like to save money on their bicycles and opt for more utilitarian bikes for transportation. In addition, the high cost of new bicycles puts them out of reach for many people, increasing the demand for used bikes.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
C2C
Fastest Growth
B2C
Growth Rate
6.50% CAGR
Global Used Bike Market ($ Bn)
Country Share for North America Region (%)
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Used Bike Market Segmental Analysis
The used bike market segmentation is based on the distribution channel, source, engine capacity, type, propulsion, and region. By distribution channel, it is divided into C2C (Consumer-to-consumer), and B2C (Business-to-consumer). By source, it is classified into domestically manufactured and imported bikes. By engine capacity, it is categorized into 50 to 125cc, 125 to 250cc, above 250cc, and electric drive. By type, it is divided into standard, sports, cruiser, mopeds, and others. By propulsion, it is bifurcated into ICE and electric. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Analysis by Distribution Channel
The C2C segment accounted for the largest market share of more than half of the total market revenue and is expected to dominate the multiple throughout the forecast period. The segment’s growth is driven by easy document transfer and low prices. Moreover, direct face-to-face transactions between buyers and sellers are also driving the segment’s rapid growth. In C2C transactions, individuals sell their used bikes directly to other customers. The thing about this section is that there are private sellers who don’t need the bike, have refurbished it, or want to sell it for a variety of reasons.
The B2C segment will exhibit the fastest CAGR of 6.0% throughout the forecast period. B2C transactions involve selling used bikes to professionals or individual customers. These organizations typically have established reputations for buying and selling, products, and processes. B2C transactions can bring certain assurances about the quality, condition and legal aspects of the used bicycle. Dealers generally perform thorough inspections and repairs and offer warranties, giving buyers confidence in their purchase. B2C transactions can provide consumers with financing options, allowing individuals to obtain very affordable bikes. This can be attractive for buyers who want to spread costs over a longer time. On the B2C side, dealers often accept trade offers, allowing customers to swap their current bike for a used bike. This makes it easier to adjust and changes for customers who want to switch to a different or different type of motorcycle.
Analysis by Engine Capacity
The 125ccto 250cc phase won the largest market proportion in 2021, accounting for the worldwide marketplace for used motorcycles and is projected to preserve its dominance in phases of revenue from 2024 to 2031. The bikes inside this market section aren't most effective fee-powerful and gasoline-green but additionally comprise a visually striking appearance that with ease captivates customer attention. Their minimal protection requirements contribute to the heightened demand for this segment in the marketplace.
Additionally, dirt motorcycles starting from 150cc to 200cc, ready with two-stroke engines, are commonly employed in off-street racing. While the manufacturing of two-stroke avenue motorcycles has decreased, involved riders can still buy pre-owned motorcycles. These engines, imparting extra power compared to common 4-stroke engines, necessitate extra common maintenance no matter their better overall performance abilities. Furthermore, the electric power phase could show the quickest growth with 19.2% CAGR through 2031.
Global Used Bike Market By Distribution Channel (%)
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Used Bike Market Regional Insights
By 2022, this market will be dominated by the North America region in the global used bike market (45.80%). The demand for affordable modes of transportation, increasing urbanization and growing interest in sustainable transportation are the main drivers of bicycle adoption in North America. Since then, the U.S. used bike market holds the largest market share, and the Canadian market is the fastest growing market in North America region. North America, the used bike market reflects a strong cycling culture and a strong emphasis on sustainable transportation. The United States and Canada demonstrate a demand for cheaper and more environmentally friendly commuting options. Urban development and a focus on health and fitness are contributing to the popularity of cycling, and the region’s well-established cycling enthusiast community supports the used bike market as it is developing.
The Asia Pacific region in the global used bicycle market is expected to grow at a rapid CAGR from 2023 to 2031. Several factors affect the used bicycle market in Asia Pacific. Fast moving cities and congested urban roads have led to a demand for affordable and efficient transportation. The use of bicycles has increased due to increasing health and fitness and environmental consciousness. The availability of online marketplaces for buying and selling used bikes has also been crucial to expanding the business locally. Moreover, China held the largest share of the used bicycle market, and the Indian used bike market was the fastest growing market in the Asia-Pacific region. Asia Pacific used bicycle market is expected to grow at a rapid CAGR from 2024 to 2031. Several factors affect the used bike market in Asia Pacific. Fast moving cities and congested urban roads have led to a demand for affordable and efficient transportation. The use of bicycles has increased due to increasing health and fitness and environmental consciousness. The online marketplace for buying and selling used bikes has also been crucial to expanding the business locally.
Global Used Bike Market By Geography
- Largest
- Fastest
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Used Bike Market Dynamics
Drivers
Driving Leisure and Tourism Activities
- The touring area often hosts group rides and other events that attract riders of all backgrounds and experience levels. These events provide venues for networking, sharing experiences and showcasing motorcycle designs. These events increase the interest in the use of touring bikes and inspire the love of traveling. Motorcycle enthusiasts who enjoy long journeys tend to look for specialized devices such as cruisers, sports tours, adventure touring and touring bikes. As a result, this bike continues to be in demand in the used bike market. The demand for these bikes is constantly increasing as more individuals take up touring as a leisure sport.
Increased Demand for Two Wheelers Due to Traffic Congestion
- One of the most pressing issues in growing cities around the world is the increase in traffic. Nowadays, because of how society operates, everyone must face traffic accidents during rush hour. There is no doubt that many timetables around the world have resulted in frequent traffic jams on existing highways. The worrying situation is that even though many solutions have been tried to reduce traffic congestion, there has not been much development in this area itself and every year the traffic deteriorates. Thus, increasing traffic congestion drives the demand for used bicycles in developing regions, thus feeding the global used bike market.
Restraints
Increased Cost Associated with a New Bike
- High cost associated with new bicycles is the major factor expected to drive the growth of the global used bike market. Sake prices sometimes go up. This is because of the nature of the industry. Many companies park their bikes in markets where they can make a big profit and keep their money flowing. Notably, the much cheaper bikes will not cover labor and supply costs. The components of motorcycles are a major reason why they are more expensive or more expensive than cars. Carbon fiber and other materials come in many shapes and forms, and the higher the quality of the carbon fiber, the more expensive it is. This also covers the cost of additional maintenance required during refrigerated storage and transport.
Limited Availability of Quality Used Bike
- One of the main challenges in the global used bike market is the limited availability of quality used bikes. Many potential buyers prefer to buy second-hand bikes due to budget constraints or durability concerns. But finding a used bike in good condition with a reliable service history can be difficult, reducing customer confidence and sales volume.
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Used Bike Market Competitive Landscape
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global used bike industry to benefit clients and increase the market sector. In recent years, the used bike industry has offered some of the most significant advantages to medicine. Major players in the used bike market, including Motohunt Inc., Motorbikes 4 All, Batfa Japan Inc., Triumph Motorcycles, Used Motorcycle Store (Dealer Spike), Mundimoto Europe SL, Yamaha Certified Pre-Owned, India Kawasaki Motors Pvt. Ltd., Droom, Blade Motorcycles, are attempting to increase market demand by investing in research and development operations.
Top Player’s Company Profiles
- Yamaha Certified Pre-Owned.
- Used Motorcycle Store. Com (Dealer Spike)
- Triumph Motorcycles
- Mundimoto Europe SL
- Motorbikes4All
- Motohunt Inc.
- Droom, India Kawasaki Motors Pvt. Ltd.
- Blade Motorcycles
- Bafta Japan Inc.
- Mahindra & Mahindra
- Pedego Electric Bikes
- Haibike
- M1 Sporttechnik
- Easy Motion Electric Bikes
- Yamaha Motor Corporation
- Prodecotech
- Stealth Electric Bikes
- F.I.V.E. Bianchi
Recent Developments
- In May 2022, Yamaha will launch a pre-certified platform to ensure the quality of used bikes. The new pre-owned leased platform provides customers with a ‘one stop shop’ for approved used Yamaha motorcycles or scooters, where customers can find all UK franchised dealerships in one place.
- In February 2022, Mundimoto raised $22.6 million to expand his portfolio beyond his native Spain and into Europe, starting with Italy and Holland. Mundimoto is an online motorcycle buying and selling startup. It plans to hire 50 engineers and 250 additional employees to advance the technology product and support international expansion.
- In October 2021, Triumph launched its Total Care program encompassing a range of services and products. The overall care umbrella covers the range of services offered by Triumph, from online service booking and extended warranty (EW) to RSA, service packages, and the condition & history of their selected used bikes.
Used Bike Key Market Trends
- Rise in the Shift Towards Sustainable Transportation: A key characteristic of the environmental perspective and urban movement and seasonal sequences increases in permanent transportation solutions related to the environmental perspective as in wind waste, carbon, landfills, cars and boxers, and the environmental choices consumers make in various contexts. The shift towards sustainable transport is driven by government initiatives aimed at encouraging bicycle schemes, bike sharing programs and environmentally friendly modes of transportation has become easy to find bicycle parking , which has helped the market growth as sustainability continues to be a driving force behind consumer behavior, the global used bike market is expected to witness a steady expansion in the future without a background.
Used Bike Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global used bike market is witnessing tremendous growth driven by various factors such as increasing urbanization, increasing environmental concerns, shift towards sustainable modes of transportation etc. Consumers are increasingly choosing second-hand bikes as a cost-effective alternative to brand-new bikes. Rising popularity further drives demand for used bikes Emerging online options, mobile applications dedicated to buying and selling used bicycles offering convenient and efficient ways of doing business. Moreover, the market benefits from the increasing emphasis on sustainable and environmentally friendly transportation solutions. Despite these positive factors that provide an alternative challenge such as, used bike condition and reliability concerns, and stringent regulations in some industries may hinder market expansion but due to growth a with constant trends in new manufacturing processes and increasing consumer confidence in the quality of used bikes, the global used bike market is poised for continued growth in years in the upcoming issue.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 39.18 Billion |
| Market size value in 2031 | USD 69.06 Billion |
| Growth Rate | 6.50% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Used Bike Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Used Bike Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Used Bike Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Used Bike Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Used Bike Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Used Bike Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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