According to Freedonia Group analyst Gleb Mytko, “While the impact of the COVID-19 pandemic on the global motorcycle market is likely to be extensive and multifaceted in the near term, the market is expected to return to growth with renewed strength beyond 2020”.
In economic terms, the global COVID-19 pandemic will have a direct impact on:
- personal incomes
- consumer spending
- fixed investment
- industrial output
- foreign investment
In the corporate sphere, divestitures and acquisitions will be reviewed and key strategic decisions will be delayed. Companies will reorganize their operations to deal with the new reality, as severe currency fluctuations could eat into corporate profits.
Learn more about the short and long term trends for motorcycles in the new Global Motorcycles. https://www.freedoniagroup.com/industry-study/global-motorcycles-3827.htm
Here are a few key trends for the long term.
- North America, Western Europe, and Eastern Europe will continue to register swift growth through 2024 because of surging electric model sales, while ICE motorcycle sales in the Asia/Pacific and Africa/ Mideast regions, Central and South America, and Eastern Europe are projected to improve considerably.
- The Asia/Pacific region is forecast to account for 86% of global motorcycle output gains between 2019 and 2024. Western Europe and Central and South America will account for much of the remaining shipment growth.
- Through 2024, the Asia/Pacific region will remain the only net exporter of motorcycles with a trade surplus projected to expand to 16 million units.
Contact Corinne Gangloff for an interview with the analyst Gleb Mytko.