Global demand for medium and heavy motorcycles is projected to expand 9.9% per annum to nearly 5.5 million units in 2022, well above the average pace for the internal combustion engine (ICE) market as a whole. Segment gains will be driven by multiple trends, including:
- rising replacement product demand in North America and Western Europe, following an economic recession during which many consumers delayed major purchases
- rapidly increasing demand for more expensive product types in a range of developing nations, including Brazil, China, and India
- increasing use of motorcycles for recreational activities globally
- formation of motorcycle cultures in many countries, leading to consumers increasingly viewing high-end motorcycles as status symbols
- growing availability of medium and heavy motorcycles in many developing nations and the proliferation of financing options
As manufacturers of medium and heavy models continue to build plants in developing economies to take advantage of their lower cost of labor and promote their motorcycles via advertising, exhibits, and motorcycle shows, consumer interest will grow. The rising popularity of motorcycle sports, ranging from touring to racing, will also contribute to segment gains. These and other trends are presented in Global Motorcycles, 9th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Global Motorcycles, 9th Edition (published 5/2018, 442 pages) is available for $6800 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
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