Introduction

• The global motorcycle market is witnessing robust growth, with an estimated value of USD 158.40 billion in 2024, and it is projected to nearly double, reaching USD 305.75 billion by 2032. This growth highlights the rising consumer preference for two-wheelers across urban and rural regions alike.
• Between 2025 and 2032, the market is expected to grow at a strong CAGR of 8.75%, driven by increasing demand in emerging economies where motorcycles serve as an affordable, efficient, and versatile mode of transportation.
• Rising adoption of motorcycles for both daily commuting and recreational activities, coupled with innovations in electric and high-performance models, is further fueling market expansion and creating opportunities for manufacturers and investors globally.

Scenario Planning - Global Motorcycle Market

Scenario Planning for the Global Motorcycle Market:

• Optimistic Scenario: Accelerated adoption of electric motorcycles, government incentives, and infrastructure development in emerging markets could drive higher-than-expected growth, pushing the market beyond USD 320 billion by 2032.
• Base Case Scenario: Steady demand for motorcycles for commuting and recreational purposes, along with gradual technological advancements, supports the projected CAGR of 8.75%, reaching approximately USD 305.75 billion by 2032.
• Challenging Scenario: Supply chain disruptions, rising fuel prices, or stricter emission regulations may slow growth, limiting market expansion and potentially keeping the market below USD 290 billion by 2032.
• Technological Disruption Scenario: Rapid innovations in battery technology, connected motorcycle systems, and lightweight materials could redefine consumer preferences, leading to a shift toward premium and electric segments, reshaping competitive dynamics.
• Regional Variance Scenario: Strong urbanization and increasing disposable income in Asia-Pacific could drive growth, while mature markets in Europe and North America might experience moderate growth due to market saturation and regulatory challenges.

Segment and Key Players

1. By Motorcycle Type

1.1 Standard Motorcycles
Key Players: Honda Motor Co., Yamaha Motor Co., Suzuki Motor Corporation

1.2 Cruiser Motorcycles
Key Players: Harley-Davidson, Kawasaki Heavy Industries, Royal Enfield

1.3 Sport Bikes
Key Players: Ducati, KTM, BMW Motorrad

1.4 Touring Motorcycles
Key Players: BMW Motorrad, Honda Motor Co., Harley-Davidson

1.5 Off-Road Motorcycles
Key Players: KTM, Yamaha Motor Co., Honda Motor Co.

2. By Fuel Type

2.1 Petrol Motorcycles
Key Players: Honda, Yamaha, Suzuki

2.2 Electric Motorcycles
Key Players: Zero Motorcycles, Gogoro, Harley-Davidson (LiveWire), Bajaj Auto

3. By Region

3.1 North America
Key Players: Harley-Davidson, Indian Motorcycle, Honda Motor Co.

3.1.1 By Country:

• USA – Harley-Davidson, Indian Motorcycle, Yamaha Motor Co.
• Canada – Honda Motor Co., Suzuki Motor Corporation, Yamaha Motor Co.

3.2 Europe
Key Players: BMW Motorrad, Ducati, KTM

3.2.1 By Country:

• Germany – BMW Motorrad, KTM
• Italy – Ducati, Aprilia
• UK – Triumph Motorcycles

3.3 Asia-Pacific
Key Players: Honda Motor Co., Yamaha Motor Co., Suzuki Motor Corporation, Bajaj Auto, Hero MotoCorp

3.3.1 By Country:

• India – Bajaj Auto, Hero MotoCorp, TVS Motor Company
• China – Loncin Motor, Zongshen, CFMoto
• Japan – Honda Motor Co., Yamaha Motor Co., Suzuki Motor Corporation

3.4 Latin America
Key Players: Honda Motor Co., Yamaha Motor Co., Bajaj Auto

3.4.1 By Country:

• Brazil – Honda, Yamaha, Dafra
• Mexico – Honda, Italika, Yamaha

3.5 Middle East & Africa
Key Players: Hero MotoCorp, Bajaj Auto, Honda Motor Co.

3.5.1 By Country:

• UAE – Bajaj Auto, Yamaha, Honda
• South Africa – Honda, KTM, Yamaha