Motorcycle And Bicycle Market Is Expected To Grow At A Rate Of More Than 5% Through 2028-2033 As Per The Business Research Company’s Motorcycle And Bicycle Global Market Report 2024
Year End Offer By The Business Research Company – Get 33% Discount On Opportunities And Strategies Reports And 25% Discount On Global Market Reports
LONDON, Jan. 02, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s motorcycle and bicycle global market report 2024, the motorcycle and bicycle market has demonstrated robust growth, a trend set to continue its upward trajectory. The motorcycle and bicycle market size is poised to increase from $76.87 billion in 2023 to $81.33 billion in 2024, showcasing a commendable Compound Annual Growth Rate (CAGR) of 5.8%.
Projected Growth:
Anticipating substantial expansion in the coming years, the motorcycle and bicycle market is forecasted to reach $100.15 billion in 2028, with a notable CAGR of 5.3%. This growth is attributed to various factors, including urban mobility solutions, a focus on health and fitness, the surge in e-commerce and delivery services, and regulatory changes.
Learn More In-Depth On The Motorcycle And Bicycle Market
https://www.thebusinessresearchcompany.com/report/motorcycle-and-bicycle-global-market-report
Key Trends in the Forecast Period:
Major trends shaping the industry in the forecast period encompass electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, as well as collaboration and partnerships. These trends underscore the dynamic nature of the motorcycle and bicycle market, paving the way for innovation and evolution.
Market Segmentation:
The motorcycle and bicycle market report segments the industry comprehensively. Types include Motorcycles and Parts, Bicycles and Parts, Motor Scooters, and Other Motorcycle and Bicycle. Propulsion types encompass Internal Combustion Engine (ICE) and Electric, while distribution channels include Independent Retailers and Online Sales.
Propulsion Evolution:
The Internal Combustion Engine (ICE) emerges as the dominant segment in the motorcycle and bicycle market, constituting 84.7% or $65,069.1 million of the total in 2023. However, the electric segment is projected to be the fastest-growing, with a remarkable CAGR of 8.0% during 2023-2028, reflecting the industry’s shift towards cleaner and sustainable alternatives.
Regional Dynamics:
In 2023, Asia-Pacific led the motorcycle and bicycle market, accounting for 40.2% or $30,924.4 million of the total. The fastest-growing regions in the forecast period are expected to be Africa and South America, emphasizing the global nature of the industry’s evolution.
Get A Free Sample Of The Global Motorcycle And Bicycle Market Report
https://www.thebusinessresearchcompany.com/sample_request?id=2129&type=smp
Stakeholder Utilization:
Stakeholders across the motorcycle and bicycle market can leverage this comprehensive market report to gain valuable insights into market trends, emerging opportunities, and potential challenges. Manufacturers, retailers, investors, and policymakers can make informed decisions to capitalize on the projected growth, foster innovation, and contribute to the sustainable evolution of the industry.
As the motorcycle and bicycle market continues on its growth trajectory, this report serves as an indispensable resource for stakeholders seeking strategic guidance. By staying abreast of key trends, technological advancements, and regional dynamics, businesses and decision-makers can position themselves for success in this dynamic and evolving global market. The forecasted surge presents an exciting landscape for innovation and collaboration, promising a bright future for the motorcycle and bicycle market.
Motorcycle And Bicycle Global Market Report 2024 by The Business Research Company provides insights on the motorcycle and bicycle market size, motorcycle and bicycle market segments, motorcycle and bicycle market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Check Out Similar Market Intelligence Reports By The Business Research Company:
Motor Vehicle Electrical And Electronic Equipment Global Market Report 2024
On-Road Motorcycles Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/on-road-motorcycles-global-market-report
Motor Vehicles Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/motor-vehicles-global-market-report
Learn More About The Business Research Company
The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model – World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
CONTACT: The Business Research Company Europe: +44 207 1930 708 Asia: +91 8897263534 Americas: +1 315 623 0293 Email: info@tbrc.info Follow us on: LinkedIn: https://in.linkedin.com/company/the-business-research-company Twitter: https://twitter.com/tbrc_info Facebook: https://www.facebook.com/TheBusinessResearchCompany YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ Blog: https://blog.tbrc.info/ Healthcare Blog: https://healthcareresearchreports.com/ Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. SingaporeOutlook.com takes no editorial responsibility for the same.
