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The global motorcycles market is projected to reach 126.5 million units by 2018, primarily driven by ever-growing need for economical and easy-to- maintain means of transportation among urban dwellers in developing nations, and passion for motorcycling as a pass-time activity in developed nations.
A motorcycle is a two or three wheeled motor vehicle. Motorcycles vary considerably depending on the task they are designed for, such as long distance travel, navigating congested urban traffic, cruising, sport and racing, or off-road conditions.
Motorcycles are one of the most affordable forms of motorised transport in many parts of the world and, for most of the world's population, they are also the most common type of motor vehicle. There are around 200 million motorcycles (including mopeds, motor scooters, motorised bicycles, and other powered two and three-wheelers) in use worldwide, or about 33 motorcycles per 1000 people. This compares to around 590 million cars, or about 91 per 1000 people.
Two-wheelers fulfill a strong need for convenience, speed, and personal mobility. The last two decades have comprehensively transformed the powered two-wheeler industry worldwide, with regional markets such as Asia-Pacific having played a significant role in its evolution.
In developed countries like the US, Canada, Japan, Germany and Italy, motorbikes and scooters are considered a premium purchase to be enjoyed by the wealthy and riding enthusiasts. In contrast, developing markets such as China, India and other South East Asia view motorcycles, scooters and mopeds as essential modes of transportation.
The Chinese motorcycle market has emerged as a formidable force in the global motorcycle and scooters market. The region's emerging leadership has ignited a fierce competition, threatening to erode the monopoly hitherto enjoyed by the Japanese majors.
Key players currently dominating the global motorcycle market include Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Jiangmen Dachangjiang Group Co. Ltd., Suzuki Motor Corp., and Yamaha Motor Co. Ltd.
For more information on the global motorcycle market, see the latest research: Global Motorcycle Market
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