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

South America Motorcycle Market Overview:

The motorcycle is a two-wheeled vehicle, having a stronger frame than a bicycle, that is driven by a petrol engine, usually with a capacity of between 125 ccs to 1000 cc and above. 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 motorcycle type, Engine Capacity, and geography. On the basis of Motorcycle type, the Motorcycle market is segmented under Adventure, Cruiser, Mopeds, Sports, Standard, and Touring. Based on the Engine Capacity, the 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 South America i.e., Brazil, Columbia, Venezuela, Chile, and the Rest of South America for each segment, the market sizing and forecasts have been done on the basis of value (in USD Million/Billion).

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South America Motorcycle Market Dynamics:

The motorcycles market in South America is fast growing since over a decade although single countries have struggled with a period of local crisis in the countries Argentina and Brazil more than others. In the last ten years the industry grew up from 3.7 million (2012) to 5.2 million (2021) and there are markets that boomed this year, like Brazil, Guatemala, Ecuador, and Honduras. In 2021 the industry scored one of the best increases ever, jumping from 4.2 million in 2021 to 5.2 million (+23.9%) resulting by far the strongest region worldwide. The largest market is now Brazil (+4.6%) for the first time. Brazil is recovering while still 20% below the record hit over a decade ago.

Increasing vehicle population and traffic congestion on city roads are expected to boost the demand for motorcycles and their tires during the forecast period. Continuous business expansions of prominent Motorcycle tire manufacturing companies across the region and their continuous research and development activities to manufacture technologically advanced, economical as well as efficient tires are further anticipated to intensify the competition in the Motorcycle tire market across the South American region through the forecasted period.

South America Motorcycle Market Segment Analysis:

By Motorcycle Type, the Motorcycle Market is segmented into Adventure, Cruiser, Mopeds, Sports, Standard, and Touring. The mopeds segment    This is because the growing number of motorcycle companies are introducing new models of mopeds in South America due to the increasing preference for female riders. This is one of the important factors that is leading to the growth of the Mopeds segment through the forecast period.

Recent Development in Asia Pacific Region UPS Battery Market:

•  In 2022, the Motorcycles Market in Peru is consolidating the last year’s record volume. booming. In the first quarter, two-wheeler sales have been 84.444, flat from the previous year, while the electric segment is finally starting up, with 808 sales, up 98% from the previous year.
• In 2022, Argentina Motorcycles Market is still on a roaring pathway. In the first quarter of 2022 scooter and motorcycles sales have been 119.900 (+36.8%), the fastest speed in Latin America with all segments up. The electric market keeps fast-growing and sales improved 520% in the L1 segment and 1225% in the L3.
• In 2022, the Motorcycles Market in Brazil starts 2022 skyrocketing. In the first quarter scooter and motorcycle, sales have been 272.793 (+33.4%), the fastest speed in Latin America, although the previous five years’ growth. The electric market is finally showing some news, with the local start-up, Voltz, moving up at record 1.357 sales.

COVID-19 Impact on South America Motorcycle Market:

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

 There were many disruptions that were formed in the supply chain, the raw materials required to produce different parts of the motorcycles were unavailable, causing production delays. However, with the growing inclination toward cleaner mobility worldwide, the market is looking forward to an economic revival post the COVID-19 pandemic. According to industry professionals and bike manufacturers, such as Honda, Harley-Davidson, and Triumph Motors, as cities emerge from the quarantine phase in various regions, two-wheelers are increasingly perceived as ideal transportation.

Additionally, attributed to government restrictions on public transportation due to social distancing guidelines, commuters are opting for these types of bikes as their daily transportation mode. For example, according to the data for March 2021, sales of motorbikes in Brazil increased by 85%. Therefore, the electric motorbike industry is expected to achieve better growth after COVID-19.

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

South America Motorcycle Market Scope:

South America Motorcycle Market Key Players:  

• Honda Motors (Minato City, Tokyo, Japan)     
• Hero MotoCorp (New Delhi, India)
• Yamaha (Hamamatsu, Shizuoka, Japan)
• Dafra (Manaus, Brazil)
• Suzuki (Hamamatsu, Shizuoka, Japan)
• Bajaj (Pune, India)
• Shineray (Chongqing, China)
• Motor Uno (Place de la Concorde)
• Kawasaki (Minato City, Tokyo, Japan)