Motorcycles - North America

North America

Highlights

In 2024, the projected revenue in the Motorcycles market in North America is estimated to reach US$11.68bn.
The market is expected to experience an annual growth rate (CAGR 2024-2029) of 3.03%, resulting in a projected market volume of US$13.56bn by 2029.
The largest segment in this market is On-road Motorcycles, which is projected to have a market volume of US$8.74bn in 2024.
By 2029, the unit sales of Motorcycles market in North America are expected to reach 2.32m motorcyles.
The volume weighted average price of Motorcycles market in the market is projected to be US$5.86k in 2024.
In terms of market share, Italika is expected to have the highest share in the selected region, with a motorcycle unit sales share of 46.3% in 2024.
The value market share of Italika is projected to be 21.8% in the same year.
From an international perspective, it is shown that the highest revenue in the Motorcycles market will be generated India, reaching US$32.11bn in 2024.
North America, being a mature motorcycle market, is witnessing a rising demand for electric motorcycles as consumers become more environmentally conscious.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in North America has been experiencing steady growth over the past few years.

Customer preferences: Customers in North America have shown a strong preference for motorcycles due to their versatility and fuel efficiency. Motorcycles are often chosen as a mode of transportation for daily commuting, as well as for recreational purposes. Additionally, the growing popularity of electric motorcycles in the region has also contributed to the overall growth of the market.

Trends in the market: One of the key trends in the North American Motorcycles market is the increasing demand for adventure motorcycles. These motorcycles are designed for both on-road and off-road use, making them suitable for a wide range of terrains. The growing popularity of adventure tourism and the desire for more adventurous experiences have led to an increase in the demand for these motorcycles. Another trend in the market is the rising adoption of electric motorcycles. With increasing concerns about environmental sustainability and the need for cleaner transportation options, electric motorcycles have gained traction in the North American market. The advancements in battery technology have made electric motorcycles more practical and appealing to consumers.

Local special circumstances: North America is known for its vast open spaces and scenic routes, making it an ideal region for motorcycle enthusiasts. The availability of well-maintained roads and a variety of landscapes, ranging from mountains to deserts, provides ample opportunities for motorcycle riders to explore and enjoy their rides. This unique characteristic of the region has contributed to the growth of the Motorcycles market.

Underlying macroeconomic factors: The overall economic stability and disposable income levels in North America have played a significant role in the growth of the Motorcycles market. As the economy has been relatively stable, consumers have had the financial means to invest in motorcycles. Additionally, low interest rates and favorable financing options have also made motorcycles more affordable and accessible to a larger consumer base. In conclusion, the Motorcycles market in North America is experiencing growth due to customer preferences for versatile and fuel-efficient transportation options, the increasing demand for adventure motorcycles, the rising adoption of electric motorcycles, the unique characteristics of the region, and the underlying macroeconomic factors such as economic stability and favorable financing options.

Data coverage:

Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.

Additional Notes:

The market is updated once a year.