The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape.
This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry.
The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.
Persistence Market Research digs deep into the global motorcycles market and fetches key information through structured market research. The report, “Motorcycles Market: Global Industry Analysis 2013 – 2017 and Forecast 2018 – 2026” gauges the market and predicts the future demographic and changes. The report reveals that the motorcycles segment will dominate the market and is estimated to hold more than 80% market value share. It is expected to grow at a CAGR (Value) of 3.7% until the end of the forecast period (2018 – 2026). The present estimated value of the global Motorcycles market is more than US$ 115,720.5 Mn in 2018 and the market will expand at a CAGR of 3.9% to reach US$ 156,903.0 Mn by the end of 2026.
Global Motorcycles Market Dynamics
The global motorcycles market is expected to be driven by the growing economic strength of middle class population in developing countries. Moreover, as the middle class population increases across the globe, the demand for efficient and affordable means of transportation is expected to increase considerably in the coming years. Motorcycles are becoming a suitable alternative, owing to which the demand for motorcycles and scooters is expected to ramp up in the coming years. Furthermore, high disposable personal income in North America has led to consumers venturing more into leisure activities revolving around motorcycles and scooters, such as racing, bike stunts and off-road activities, which in turn, has increased the demand for high engine capacity two wheelers. This is the main factor driving the growth of the motorcycle market in matured economies, such as North America and European countries. Furthermore, growth in motorcycling clubs revolving around cruiser motorcycles in the region, popularized by Harley-Davidson and Indian motorcycles, has also augmented the growth of the market in the region.
For detailed insights on enhancing your product footprint, request for a Sample here @ https://www.persistencemarketresearch.com/samples/3630
E-mobility has also emerged as a trending topic in the past few years. Various properties of electric vehicles, such as fuel conservation, silent operation and low sound emission will give them an upper hand over conventional motorcycles. Furthermore, as the emission norms get stricter, the demand for alternative means of transportation is expected to increase. Owing to this, the demand for electric scooters and motorcycles is expected to increase significantly in the coming years.
However, a majority of the working class population in North America and Europe opts for four wheelers over two wheelers as two-wheelers are affordable for consumers. This is one of the prime reasons which can hamper the growth of the motorcycles market in North America and Europe. Furthermore, electric motorcycles offer reduced speed and performance as compared to their conventional counterparts. This can further derail the growth of the market in the coming years.
Global Motorcycles Market Forecast
Market insights suggests that the overall width of the global Motorcycles market will expand during the forecast period. Several positive changes are expected to fuel the growth of the market. By product type, the motorcycles segment will play a pivotal role in building market revenue and is expected to occupy a significant share of the market. The report hints that the scooters segment, by type, will account for a value share of 19.6% in the global Motorcycles market by 2018. Amongst the major markets, India is expected to show promising results during the forecast period. The region is estimated to represent 35.7% market value share in 2018 and the market is estimated to expand at a CAGR of 4.3% within the stipulated time period. The sales revenue of India is estimated to surge up to US$ 57,819.3 Mn by the end of 2026. The markets globally will remain fertile and vibrant during the forecast period.
Global Motorcycles Market: Competitive Landscape
- Bajaj Auto Ltd.
- Bayerische Motoren Werke (BMW) AG
- Ducati Motor Holding S.p.A.
- Eicher Motors Limited
- Harley-Davidson, Inc.
- Hero MotoCorp Ltd.
- Honda Motor Co., Ltd.
- KTM AG
- Piaggio & C. SpA
- Suzuki Motor Corporation
- Triumph Motorcycles Ltd.
- TVS Motor Company Ltd.
- Vmoto Limited
- Yamaha Motors Co., Ltd.
For in-depth competitive analysis, Check Pre-Book here @ http://persistencemarketresearch.com/checkout/3586
Our unmatched research methodologies set us apart from our competitors. Here’s why:
- PMR’s set of research methodologies adhere to the latest industry standards and are based on sound surveys.
- We are committed to preserving the objectivity of our research.
- Our analysts customize the research methodology according to the market in question in order to take into account the unique dynamics that shape the industry.
- Our proprietary research methodologies are designed to accurately predict the trajectory of a particular market based on past and present data.
- PMR’s typical operational model comprises elements such as distribution model, forecast of market trends, contracting and expanding technology applications, pricing and transaction model, market segmentation, and vendor business and revenue model.
Persistence Market Research’s proactive approach identifies early innovation opportunities for clients in the global automotive sector. Our insights on next-generation automotive technologies such as connected cars, automotive emissions control, vehicle-to-vehicle (V2V), autonomous cars, electric and hybrid vehicles, and augmented reality dashboards ensure clients stay at the forefront of innovation.
Our competencies go beyond regular market research to deliver tailored solutions in an industry marked with increasing environment regulations, evolving consumer preferences, and a shifting landscape of emerging markets. We pride ourselves in helping our clients maximize their profits and minimize their risks. Actionable Insights & Transformational Strategies that Help you Make Informed Decisions.
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
There has been a growing trend toward consolidation in the automotive sector, with the output of motor vehicles resting mainly in the hands of a few large companies and smaller independent manufacturers gradually.
Read all Automotive Market Insights here https://www.persistencemarketresearch.com/category/automotive-and-transportation.asp
Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.