On-road Motorcycles Market Incremental Opportunity Assessment till 2028

On-road Motorcycles Industry Overview

The global on-road motorcycles market size was valued at USD 56.8 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2028.

The rising focus by manufacturers on manufacturing high-performance and comfortable on-road motorcycles is the key factor driving the growth of the market. Moreover, the increase in sports bike users and the growing trend of customization are some of the factors swelling demand for on-road motorcycles and driving the market. The COVID-19 outbreak negatively impacted the market. This is due to the shutting of plants in top motorcycle manufacturing nations such as China, Japan, India, and ASEAN. This has also affected the supply of components to the manufacturing services globally and stuck the production as large numbers of manufacturers are reliant on the supplies from China.

Gather more insights about the market drivers, restrains and growth of the Global On-road Motorcycles Market

U.S. on-road motorcycles market size, by type, 2019 - 2028 (USD Billion)

The on-road motorcycle is also known as a street motorcycle. On-road motorcycles are mainly manufactured to be ridden on paved roads. Some are manufactured to excel at covering long distances and others just for cruising the neighborhood. On-road motorcycles driven by electric motors are becoming more common, with companies such as Harley-Davidson entering the market. The better and more competent products launched consistently from manufacturers, the rise in trend of customization, and the swelling number of motorbike sports takers create a lucrative opportunity for the market.

Various types of on-road motorcycles include standard, cruiser, sports bike, and touring. Touring motorcycles are large, with fairing and luggage. Cruiser motorcycles consist of low-stepped seats and pullback bars. Sport motorcycles consist of low handlebars, and rear-seat pegs, and are designed for performance. Standards motorcycles are versatile, general-purpose street motorcycles. Because of their flexibility, lower costs, and moderate engine output, standards are particularly suited to motorcycle beginners. Inventions in the automobile industry pave the way for enhanced and better on-road motorcycles about comfort, suspension, and safety.

The COVID-19 pandemic has negatively affected the on-road motorcycles market. Numerous customers have canceled bookings, which were made before the crisis. The current situation is an unprecedented one for the industry. Concern over the lack of clarity has been issued by major two-wheeler manufacturers from around the world. India, China, and Japan have been hit the hardest. However, manufacturers are optimistic that following the end of the lockdown period, customers will be more likely to evade public transport, increasing the demand for private vehicles, including motorcycles, which in turn will surge demand for on-road motorcycles over the forecast period.

Browse through Grand View Research's Automotive & Transportation Industry Research Reports.

  • Electric Bus Market - The global electric bus market size was valued at USD 40.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030.
  • Electric Three Wheeler Market - The global electric three wheeler market size was valued at USD 829.5 million in 2021 and is anticipated to register a compound annual growth rate (CAGR)of 7.5 % during the forecast period.

Key Companies profiled:

Some prominent players in the on-road motorcycles market include

  • Harley-Davidson Incorporation
  • Yamaha Motor Co., Ltd.
  • Ducati Motor Holding S.p.A.
  • Honda Motor Co., Ltd.
  • Kawasaki Heavy Industries, Ltd.
  • BMW AG
  • Suzuki Motor Corporation
  • Hero MotoCorp Limited
  • Bajaj Auto Ltd.
  • TVS Motor Company

Order a free sample PDF of the On-road Motorcycles Market Intelligence Study, published by Grand View Research.

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