Motorcycle Market Size

Motorcycle Market size was over USD 80.14 billion in 2023 and is anticipated to reach USD 181.72 billion by 2036, growing at around 6.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of motorcycle is estimated at USD 84.31 billion.

 The growth of the market can primarily be attributed to the growing need for cost-effective private transportation amongst individuals worldwide, followed by the growing trends of two-wheeler adventure sports and racing, and for the increasing availability of a wide range of motorcycles with different engine sizes. Moreover, growing demand for energy-efficient transportation systems, increasing initiatives by the government of nations worldwide to support electric motorcycles by providing subsidies and tax rebates, and the escalating prices of petroleum products worldwide, are some of the additional factors expected to drive the market growth. Moreover, backed by the rising incidences of motorcycle fatalities, there is a growing focus amongst the motorcycle manufacturers to develop enhanced safety vehicles, which is anticipated to drive the market growth.