The global conventional motorcycles and scooters industry is projected to attain a valuation of USD 199,138.0 million by 2033, growing at a CAGR of 3.8% from 2023 to 2033. The market is expected to be valued at USD 137,145.2 million in 2023.
The conventional motorcycles and scooters industry remains a vital segment of the global transportation market, offering a unique blend of affordability, convenience, and versatility. Despite the rise of electric two-wheelers, traditional motorcycles and scooters continue to hold significant market share due to their established infrastructure, affordability, and widespread appeal across different demographics. This market segment is poised for steady growth as manufacturers adapt to evolving consumer preferences and regulatory standards.
Recent industry reports indicate that the conventional motorcycles and scooters industry is undergoing a transformation, with innovations in design, fuel efficiency, and safety features redefining the market. With a strong focus on sustainability and performance, traditional two-wheelers are maintaining their relevance in an era of technological advancements and growing environmental awareness.
Detailed Market Study: Full Report and Analysis
Key Drivers of Growth
- Affordability and Cost-Effectiveness:
Conventional motorcycles and scooters remain an attractive choice for consumers in developing regions due to their lower cost compared to cars, making them a practical means of transportation for individuals and families. - Established Infrastructure and Market Penetration:
The widespread availability of refueling stations and service centers supports the continued growth of conventional two-wheelers, making them a convenient choice for daily commuting. - Rising Urban Commuting Needs:
With increasing urbanization and traffic congestion, motorcycles and scooters offer a nimble and efficient solution for navigating crowded city streets, reducing travel time and stress. - Improved Fuel Efficiency and Emissions Standards:
Manufacturers are investing in more fuel-efficient engines that meet stringent environmental regulations, appealing to eco-conscious consumers while adhering to government standards. - Diverse Consumer Preferences:
The demand for various types of motorcycles and scooters, from sport and touring models to scooters designed for city commuting, supports market growth across different consumer segments.
Key Takeaways
- The global conventional motorcycles and scooters market is projected to grow at a CAGR of 3.8% from 2023 to 2033, with a market value reaching USD 1,99,138.0 million by 2033 by the end of the forecast period.
- Asia-Pacific remains the dominant market, driven by high sales volumes in countries like India, China, and Indonesia, where motorcycles and scooters are a primary mode of transportation for millions.
- Technological enhancements, such as improved fuel efficiency, advanced safety features, and integration of smart technologies, are key trends reshaping the market.
- Motorcycle safety innovations like ABS (Anti-lock Braking System) and traction control systems are becoming standard features, driven by consumer demand for enhanced rider protection.
- Key industry players, including Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., Bajaj Auto Limited, and Suzuki Motor Corporation, continue to lead the market with strategic product launches and technology upgrades.
- The market is also witnessing a shift toward dual-sport motorcycles that cater to both on-road and off-road riding preferences, reflecting changing consumer tastes and lifestyles.
Competitive Landscape
Over the last few years, there has been a rising number of acquisitions and growth efforts to increase the supply of conventional motorcycles and scooters among key players. Several major firms are also working on technology development. Contracts & agreements, new product developments, and partnerships are some of the crucial growth strategies adopted by key firms to maintain their market positions.Yamaha Motors Co., Ltd.; Piaggio & C. SpA; Suzuki Motor Corporation; Honda Motor Co., Ltd.; Hero Motocorp Ltd.; Eicher Motors Limited; Harley-Davidson, Inc.; Bajaj Auto Ltd.; TVS Motor Company; Lifan Industry (Group) Co., Ltd.; Ducati Motor Holding S.p.A.; KTM AG; Triumph Motorcycles Ltd.; Kwang Yang Motor Co., Ltd.; Syarikat Motosikal dan Enjin Nasional Sdn. Bhd.; Sanyang Motor Co., Ltd.; Walton Group; QianJiang Group Co., Ltd.; Luoyang Northern Ek Chor Motorcycle Co., Ltd.; Chongqing YinXiang Motorcycle (Group) Co., Ltd
For instance,
- In March 2022, Yamaha Motor Co., Ltd. announced that it has established Moto Business Service India Pvt. Ltd. (MBSI) as a new company in India to expand its mobility service businesses. The company has also started leasing motorcycles to Royal Brothers, a local mobility service provider that offers motorcycle rentals and other services.
Key Segments Covered in Conventional Motorcycles and Scooters Market Analysis
By Product Type:
- Conventional Motorcycles
- Standard
- Cruiser
- Mopeds
- Sports
- Others
- Conventional Scooters
- Standard
- Enclosed
- Maxi
- Three-Wheeled
By Engine Capacity Type:
- Up to 150cc
- 151-300cc
- 301-500cc
- Above 500cc
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- Middle East & Africa (MEA)
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