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Motorcycle And Bicycle Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 30, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The motorcycle and bicycle market has seen significant growth in recent years. It is projected to increase from $76.87 billion in 2023 to $81.33 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.8%. This growth during the historical period can be attributed to factors such as economic development, urbanization, environmental concerns, and fluctuating fuel prices.xx
How Much Will the Global Motorcycle And Bicycle Market Grow, and What Is the Predicted Annual Growth Rate?
The motorcycle and bicycle market is anticipated to experience robust growth in the coming years, with projections indicating it will reach $100.15 billion by 2028 at a compound annual growth rate (CAGR) of 5.3%. This growth during the forecast period can be attributed to urban mobility solutions, increasing focus on health and fitness, the rise of e-commerce and delivery services, and regulatory changes.
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What Are The Top Drivers Contributing To The Growth Of The Motorcycle And Bicycle Market?
The growing traffic congestion in urban areas is expected to drive the growth of the motorcycle and bicycle market in the coming years. Traffic congestion refers to a transportation scenario marked by reduced speeds, longer travel times, and increased vehicular queuing. Bicycles and motorcycles occupy less road space compared to cars, helping to alleviate congestion. Replacing short car trips with bicycle and motorcycle travel can lead to fewer traffic jams, particularly on heavily traveled routes. Additionally, motorcycles and bicycles can contribute to pollution reduction.
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Which Companies Are Leading Growth in the Motorcycle And Bicycle Market?
Key players in the motorcycle and bicycle market include EXOR Group, Robert Bosch GmbH, Aisin Seiki Co Ltd, Toyota Motor Corp, Denso Corp., Schaeffler Technologies AG & Co KG, Continental AG, Gestamp Automoción, Tata Motor Group, Dana Incorporated, Magna International Inc., ZF Friedrichshafen AG, Hyundai Motor Company, GKN Ltd., BorgWarner Inc., Valeo SA, JTEKT Corporation, Mahle GmbH, Autoliv Inc., Hitachi Automotive Systems Ltd., Nexteer Automotive Group Limited, American Axle & Manufacturing Holdings Inc., Tenneco Inc.
What Are the Key Trends Defining the Motorcycle And Bicycle Market Size?
Key players in the motorcycle and bicycle market are emphasizing strategic collaborations to more effectively address the needs of their current customers. A strategic partnership involves a commercial agreement between two or more companies that agree to support each other in enhancing their businesses.
What Are The Key Segments Of The Global Motorcycle And Bicycle Market?
1) By Type: Motorcycles And Parts, Bicycles And Parts, Motor Scooters, Other Motorcycle And Bicycle
2) By Propulsion Type: Internal Combustion Engine (ICE), Electric
3) By Distribution Channel: Independent Retailers, Online Sales
Geographical Highlights: North America Leading Motorcycle And Bicycle Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Scope Of The Motorcycle And Bicycle Market Overview?
A motorcycle is a motorized vehicle with two wheels capable of carrying one or two passengers. A bicycle, on the other hand, is a non-motorized vehicle featuring two tandem wheels, handlebars for steering, a saddle seat, and pedals for propulsion.
The Motorcycle And Bicycle Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Motorcycle And Bicycle Market Report: Trends, Opportunities, Strategies, and More
The Motorcycle And Bicycle Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into motorcycle and bicycle market size, motorcycle and bicycle market drivers and trends, motorcycle and bicycle competitors' revenues, and motorcycle and bicycle market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Motorcycle And Bicycle Global Market Report 2024
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