North America Motorcycle Market: Industry Analysis and Forecast (2024-2030)

North America Motorcycle Market Overview:

A motorcycle often called a motorbike, bike, cycle, or trike, is a two-or three-wheeled motor vehicle. Motorcycle design varies greatly to suit a range of different purposes: long-distance travel, commuting, cruising, sport, and off-road riding.

Further, the Motorcycle market is segmented by product type, distribution channel, and geography. Based on product type, the Motorcycle market is segmented under Motorcycle Type, Engine Capacity, and Geography. Based on the Engine Capacity, the market is segmented under the channels of up to 150 CC, 151-300CC, 301-501 CC, 501-800 CC, 801-1000 CC, 1001-1600 CC, and above 1600 CC. Based on the Motorcycle Type the market is segmented under Adventure, Cruiser, Mopeds, Sports, Standard, and Touring. By geography, the market covers the major countries in North America, i.e., the US, Canada, and Mexico. For each segment, the market sizing and forecasts have been done based on value (in USD Billion).

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North America Motorcycle Market Dynamics:

The motorcycle manufacturers to boost the market growth. The invention of the Anti-Lock Braking System has increased the sales of motorcycles. There is a rise in the adoption of edge-cutting Technologies that have made motorbikes more Complex and modish in safety, comfortable, and luxury. The advancement of technology made the manufacturers introduce hands-free and Bluetooth options in the helmet for improving the connectivity with other Riders.

The growing economic standards changing lifestyles, and the rise in the rates of Petroleum is shifting the consumer's reference towards motorcycles which offer a great fuel efficiency in comparison to cars. The growing urbanization is also one of the most important factors that are leading to the growth of the market in this region. In 2021 the total motorcycles sales were 550.000 that is up by 9% from the previous year with sales of 361.000 units. These factors are driving the growth of the market through the forecast period.

The government has also supported by providing rebates of up to$900 provided for buying electric motorcycles in the states under the project named clean vehicle rebate Project (CVRP). Also, the Government of Canada has provided the incentive that was benefiting the North American motorcycle market by providing debate of up to US$ 1524 by the British Columbian specialties used vehicle incentive program. With the increase in the urban population, there is a rise in demand for cost-effective and short-distance quotations, which is leading to the growth of the motorcycle. There is also arise in concern about reducing greenhouse gases emission. This is creating a rise in the market for electric motorcycles. The rising prices of diesel and gasoline are also leading to the Purchase of motorcycles for short-distance transportation. These are creating upcoming growth opportunities for the motorcycle market through the forecast period.

North America Motorcycle Market Segment Analysis:

By 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. The 801-1000 CC has dominated the largest Market share accounting for 31% in 2023. This is because this model is some bigger riders mention going for an 801-1000 CC purely. After all, it is more comfortable. This can be attributed to the rising demand for high-speed and long-range electric motorcycles in the region.

COVID-19 Impact on North America Motorcycle Market:

The COVID-19 pandemic has impacted negatively on North American countries, particularly the United States. Because of favorable government policies to encourage innovation, the presence of large industrial bases, and high purchasing power, North America is a leader in the creation and adoption of new technology, particularly in industrialized countries like the United States and Canada. As a result, any impact on the expansion of industries has a direct impact on the region's economic growth.

The objective of the report is to present a comprehensive analysis of the North America Motorcycle Market to the stakeholders in the industry. The report provides trends that are most dominant in the North America 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 North America 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 North America 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 North America 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 North America 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 are existing, who they are, and how their product quality is in the North America Motorcycle Market. The report also analyses if the North America 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 North America Motorcycle Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Motorcycle Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Motorcycle Market is aided by legal factors.

North America Motorcycle Market Scope:

North America Motorcycle Market Key Players:  

• Honda (Hamamatsu, Shizuoka, Japan)
• Yamaha (Hamamatsu, Shizuoka, Japan)
• Kawasaki (Hamamatsu, Shizuoka, Japan)
• Suzuki (Hamamatsu, Shizuoka, Japan)
• Harley-Davidson (Milwaukee, Wisconsin)
• Polaris Industries, (Inc. Medina, MN)
• Zero Motorcycles (Scotts Valley, CA)
• MSI Defense Solutions (Mooresville, NC)
• American Suzuki Motor Corp. (Brea, CA)