A recent report released by Fact.MR provides invaluable and actionable insights into the motorcycle market. The report highlights and analyzes all the key factors influencing the performance of the motorcycle market along with clear justifications for their inclusion in the report. All the micro and macroeconomic facets impacting the motorcycle market growth have been assessed in the report. A comprehensive opportunity assessment of the motorcycle market has been provided in the report. Additionally, a detailed analysis of the competitive landscape prevalent in the motorcycle market has been provided in the report.
Bike sharing has hogged limelight riding high on flexibility, reduction to vehicle emissions, health benefits, reduced fuel consumption and congestion and financial savings. Accordingly, bike sharing which has acted as a door opener increased motorbike use is slated to undergird the motorcycle market.
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Motorcycles have amassed popularity as a form of transportation and recreation for decades. Increasing number of people are doing away with their four-wheeled vehicles and welcoming life on two wheels. In addition, motorcycles have fewer emissions vis-à-vis other vehicles and with escalating parking concern, motorcycles have had edge over four wheelers. Moreover, insurance costs for motorcycle is relatively less than for cars, thereby saving the drivers from high insurance costs.
Acknowledging these facets of motorcycle, Yamaha Motor Corp recently invested USD 150 million in Grab—a bike rental service operational in Thailand, Vietnam and Indonesia. Going by the deal inked, Yamaha and Grab are set to work on manufacturing affordable motorcycle models for people who are keenly interested in bike rental service. Being on the same page, BMW rolled out its own bike rental service in Germany, Austria and France. With dipping motorcycle sales, bike rentals is proving to be a blessing in disguise for the motorcycle manufacturers.
Motorcycle manufacturers are becoming increasingly aware of the promising prospects the market holds and are investing heavily in the industry. For instance, Yamaha Motor Corp invested US$150 million in Grab, a bike rental service operational in Vietnam, Thailand, and Indonesia. As per the deal, Yamaha and Grab plan to work on making affordable motorcycle models available for people seeking to join the bike rental service. Along similar lines, BMW launched its own bike rental service in Germany, France, and Austria. The company plans to expand its services across different countries if it proves to be a success in Europe. Bike rental services are also becoming increasingly popular among millennials and offer a lucrative alternative to overcome the challenge posed by declining motorcycle sales.
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Evolving Electric Bikes to Dampen Motorcycle Sales
The gradual evolution of electric bikes is estimated to pose a threat to the motorcycle market growth. Advancements in technology, in addition to the availability of sophisticated components, for the production of electric bikes is allowing manufacturers to launch e-bikes that can offer the same acceleration as electric motorcycles. In addition, the availability of affordable e-bike models is estimated to find an extended consumer base as opposed to the expensive electric motorcycles. Furthermore, riding e-bikes does not require a license which is a vital factor drawing consumers to the electric motorcycle alternative. The inclusion of other value-added features such as ABS, superior suspension, and fat tires for better grip and handling is estimated to aid e-bikes in gaining popularity among consumers which, in turn, is expected to limit motorcycle market growth.
Motorcycle Market – Competitive Landscape
With the demand for electric bikes on the rise, leading players operating in the motorcycle market are increasingly investing in research and development of electric vehicles. Along similar lines, Yamaha announced it would be running field trials for its concept electric bike TY-E in 2018. Yamaha claimed that the 150 lbs lightweight bike is suitable for any terrain.
To avoid the burden of increased tariffs and gain an edge in the motorcycle market, Harley Davidson announced it would be setting up new production facilities out of the US to meet the demand of its consumers in the European Union countries. The company plans to set up new facilities in Thailand with operations of the plant estimated to commence in nine to eighteen months.
Other leading players operating in the motorcycle market include Kawasaki Heavy Industries, Ltd., Triumph Motorcycles Limited, Lifan Industry (Group) Co., Ltd, TVS Motor Company Limited, Eicher Motors Limited, Suzuki Motor Corporation, Honda Motor Company, Limited, Hero MotorCorp Limited, Polaris Industries Inc., and Bayerische Motoren Werke AG.
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