Market Insights report
The On-Road motorcycles market is experiencing significant growth worldwide due to influential trends that shape its trajectory. A notable factor fueling this expansion is the increasing demand for cost-effective and efficient transportation solutions, particularly in densely populated areas grappling with traffic congestion. In 2023, unit sales of on-road motorcycles exceeded 32 million, and the market generated a total revenue of US$97 billion. We forecast that revenues will reach a compound annual growth rate (CAGR) of 3.5% between 2014 and 2029.
What's included?
On-road Motorcycles are characterized by a diverse range of features that play a crucial role in shaping consumer preferences and influencing purchasing decisions. These features contribute significantly to the overall appeal and functionality of motorcycles, catering to the varied needs and desires of riders.
Motorcycles equipped with smart features appeal to tech-savvy consumers seeking an interconnected riding environment. The interplay of these features not only influences individual purchasing decisions but also shapes broader market trends. Manufacturers that successfully balance innovation, performance, and consumer preferences in their motorcycle features are likely to maintain a competitive edge in the ever-evolving On-road Motorcycles market.
The On-road Motorcycles market accounted for the largest share of motorcycles sold in 2023. In that year, this segment generated a total revenue of US$97 billion worldwide, with about 32 million motorcycles sold. On-road motorcycles are often referred to as street or "naked" motorcycles. Standard bikes, sports bikes, as well as cruiser, chopper, touring, and sport-touring motorcycles can be found in this segment.
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