Asia Pacific Motorcycle Market: Industry Analysis and Forecast (2024-2030)

Asia Pacific Motorcycle Market Definition:

The Motorcycle market is segmented by Motorcycle type, Engine Capacity, and geography. Based on motorcycle type, the Motorcycle market is segmented into Adventure, Cruiser, Mopeds, Sports, Standard, and Touring. Based on the Engine Capacity, the Motorcycle Market is segmented into up to 150 CC, 151-300CC, 301-501 CC, 501-800 CC, 801-1000 CC, 1001-1600 CC, and above 1600 CC. By geography, the market covers the major countries in the Asia Pacific, i.e., India, China, Japan, Australia, and the Rest of Asia Pacific. For each segment, the market sizing and forecasts have been done based on value (in USD Million/Billion).

 

 

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Asia Pacific Motorcycle Market Dynamics:

The Rising Per Capita Income of the Population is Giving Rise to the Market’s Growth:

The rise in the population with the rising per capita income of the people is giving rise to the demand for economic and personal transportation. Also, there is an increase in the number of female riders with easily available and are the important key players that are driving the growth of the market. There have been sales of 12.9 million (+14.5%) motorcycles in 2021. Also, the growth in the number of passengers as well as the commercial vehicles on the roads.

 

These factors are affecting the usage of the Motorcycles directly positively. Motorcycles make it easy to travel through congested areas because of their lightweight and higher maneuverability. Traveling by motorcycles saves time because of their high maneuverability. This makes traveling easy with the motorcycle when compared with passenger cars. Hence, the growing congestion on roads is driving the growth of the demand for the Motorcycle Market through the forecast period.

 

The Shift from Public Transport System Creating Opportunities for Market Growth:

The countries such as India, China, and Indonesia have been holding the largest market share, which has to account for more than 76% of the market share in 2023. This is mainly because of the large population and a significant rise in spending on motorcycles. There is a certain initiative that is taken by the leading authorities of developing countries for the infrastructural developments that are aiding the growth of the development of the developing countries.

 

Certain government policies are attracting many people and leading to the construction of the residential as well as non-residential spaces in the urban areas. With a surge in the population in urban areas, road traffic is also expected to rise. This is shifting the preference of the people for vehicle ownership, affordable, and the ease of driving a two-wheeler vehicle through the traffic congestion is driving the sales of Asia-pacific Used Two-Wheeler market. High demand is there for the used premium bikes at affordable rates. The sales of the premium bikes provide higher profit to the service providers, which is the main reason for a large number of service providers making high-end investments in this sector.

 

Lack of Proper Infrastructure for the Electric Scooter and Motorcycle Vehicles:

There was a total sale of 2.96 million battery electric vehicles in 2021. This led to a requirement for proper infrastructure for charging these vehicles. The limited availability of the charging stations increases the anxiety of the user regarding the vehicle range, which hampers the sales of electric scooters and motorcycles in the region. This would require proper public and private funding with considerable time. This can be slowing down the potential sales of plug-in electric motorcycles. The other restraint in the growth of the market is the recycling of the batteries, which, when not properly disposed of, can cause health and environmental problems.

 

Asia Pacific Motorcycle Market Segment Analysis:

By Motorcycle Type, the Motorcycle Market is segmented into Adventure, Cruiser, Mopeds, Sports, Standard, and Touring. The Cruiser segment is expected to grow at the highest CAGR of 9.3% during the forecast period. This is because of the special features that are provided by the cruisers over others, such as the Range of the cruiser bike is better than the other bikes. One of the popular cruiser bikes in India, the RE Thunderbird 350, had a fuel tank capacity of 20-liters. A bigger tank means lesser fuel stops overall. These factors are driving the growth of this segment in the region through the forecast period.

 

 

Recent Development in Asia Pacific Region Motorcycle Market:

• The electric scooters and the motorcycles are expected to account for a total of 6,194 thousand units by 2027 as the consumers of the Asia Pacific region are affected by the increasing cost of the petrol.
• There is a rising technology in Self-balancing Motorcycles Market is also depicted in this research report. A self-balancing motorcycle can come to a complete stop and stand upright without falling on either side.

 

COVID-19 Impact on Asia Pacific Motorcycle Market:

The rapid spread of the COVID-19 pandemic across the countries of the Asia Pacific region had severely impacted the people's health and their lifestyle and led to the economy of the region tumbling down. However, the industries have managed damages post lockdown, but the retrieval was steady. This industry is expected to witness growth post the pandemic since people will steer clear of public transportation to protect themselves from catching or spreading the virus. The motorcycle market is anticipated to grow by 1.1% in terms of value during the forecast period 2024-2030.

 

The objective of the report is to present a comprehensive analysis of the Asia Pacific Motorcycle Market to the stakeholders in the industry. The report provides trends that are most dominant in the Asia Pacific Motorcycle Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Motorcycle Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Asia Pacific Motorcycle Market report is to help understand which market segments and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Asia Pacific Motorcycle Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Motorcycle Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Asia Pacific Motorcycle Market. The report also analyses if the Asia Pacific Motorcycle Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Motorcycle Market. Economic variables aid in the analysis of economic Performance drivers that have an impact on the Asia Pacific Motorcycle Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Motorcycle Market is aided by legal factors.

 

Asia Pacific Motorcycle Market Scope:

Asia Pacific Motorcycle Market Scope
Market Size in 2023	USD 86.34 Bn.
Market Size in 2030	USD 127.86 Bn.
CAGR (2024-2030)	5.77%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Motorcycle Type Adventure Cruiser Mopeds Sports Standard Touring
	By Engine Capacity Up to 150 CC 151-300 CC 301-500 CC 501-800 CC 801-1000 CC 1001-1600 CC Above 1600 CC
Country Scope	China India  Japan  South Korea Australia  ASEAN Rest of APAC

 

Asia Pacific Motorcycle Market Key Players:

• TVS Motor Company Ltd. (India)
• Yamaha Motors Co. (Japan)
• Suzuki Motor Corporation (Japan)
• Hero MotoCorp Ltd. (India)
• Honda Motor co. LTD. (Japan)