On-road Motorcycles Market Size, Share & Trends Analysis Report By Type (Sports Bikes, Cruiser Motorcycles, Touring Motorcycles), By Region (North America, Europe, Asia Pacific, Central & South America, MEA)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2024-2033

The global on-road motorcycles market size was exhibited at USD 57.10 billion in 2023 and is projected to hit around USD 105.19 billion by 2033, growing at a CAGR of 6.3% during the forecast period of 2024 to 2033.

Key Takeaways:

• Asia Pacific accounted for a significant revenue share of more than 64.0% in 2023. 
• The cruiser motorcycles segment dominated the market and contributed a revenue share of more than 57.0% in 2023.

On-road Motorcycles Market: Overview

In the dynamic landscape of transportation, on-road motorcycles stand as enduring symbols of freedom, mobility, and adrenaline-fueled adventure. As key players in the global automotive industry continue to innovate, adapt, and respond to evolving consumer preferences and regulatory frameworks, the on-road motorcycles market undergoes a fascinating evolution of its own.

On-road Motorcycles Market Growth

The growth of the on-road motorcycles market is fueled by several key factors. Technological advancements play a crucial role, with innovations in engine technology, materials, and design leading to more efficient and powerful motorcycles. Urbanization and increasing traffic congestion also drive market growth, as consumers seek agile and maneuverable two-wheelers for convenient mobility in crowded cities. Cultural shifts towards recreational and alternative modes of transportation further contribute to the market's expansion. Additionally, growing environmental concerns prompt manufacturers to develop electric and hybrid motorcycles, catering to environmentally conscious consumers. These factors collectively propel the growth of the on-road motorcycles market, shaping its trajectory in the automotive industry.

On-road Motorcycles Market Report Scope

On-road Motorcycles Market Dynamics

The dynamics of the on-road motorcycles market are shaped by a multitude of factors, two of the most significant being technological innovation and urbanization. Technological advancements drive market evolution, with continuous improvements in engine technology, materials, and design enhancing the performance, efficiency, and safety of motorcycles. These innovations not only attract consumers seeking cutting-edge features but also address regulatory requirements and environmental concerns, fostering sustainable growth in the market. Concurrently, urbanization and increasing traffic congestion propel the demand for on-road motorcycles as viable solutions for navigating crowded city streets. With their agility, maneuverability, and space-saving advantages, motorcycles offer commuters a practical and efficient means of transportation, driving market expansion in urban areas.

On-road Motorcycles Market Restraint

Despite its growth potential, the on-road motorcycles market faces notable restraints, with regulatory challenges and safety concerns standing out as significant barriers to growth. Stringent emission regulations and safety standards impose compliance burdens on manufacturers, leading to increased production costs and potential market entry barriers for smaller players. Additionally, safety concerns surrounding motorcycle accidents and fatalities contribute to consumer hesitancy and regulatory scrutiny, impacting market demand and public perception. Addressing these restraints requires collaborative efforts from industry stakeholders, policymakers, and safety advocates to implement effective regulations, promote safety initiatives, and enhance public awareness, ultimately fostering a safer and more sustainable environment for on-road motorcycle usage.

On-road Motorcycles Market Opportunity

In the on-road motorcycles market, opportunities abound, particularly in the realm of electrification and expanding demographic reach. The shift towards electric motorcycles presents a significant opportunity for manufacturers to capitalize on growing consumer interest in sustainable transportation solutions. With advancements in battery technology and infrastructure, electric motorcycles offer zero-emission alternatives that appeal to environmentally conscious consumers and align with global efforts to combat climate change. Moreover, expanding the demographic reach of on-road motorcycles presents another promising opportunity. By targeting underrepresented segments such as women, younger riders, and urban commuters, manufacturers can tap into new markets and diversify their customer base. 

On-road Motorcycles Market Challenges

Within the on-road motorcycles market, two significant challenges stand out: intensifying competition and shifting consumer preferences. As the market becomes increasingly saturated with established players and new entrants, competition intensifies, placing pressure on manufacturers to differentiate their offerings through innovation, branding, and value-added services. This heightened competition not only squeezes profit margins but also necessitates ongoing investments in research and development to stay ahead of rivals.

Moreover, shifting consumer preferences present another formidable challenge for the on-road motorcycles market. Rapid changes in lifestyle trends, socio-economic dynamics, and cultural influences can lead to fluctuations in demand and preferences among motorcycle buyers. Manufacturers must remain vigilant and adaptable, continuously monitoring consumer insights and market trends to anticipate shifts in demand and adjust their product portfolios and marketing strategies accordingly. Failure to address these challenges effectively can result in market share erosion and missed opportunities for growth in an increasingly dynamic and competitive landscape.

Segments Insights:

Type Insights

The cruiser motorcycles segment dominated the market and contributed a revenue share of more than 57.0% in 2023. The segment is expected to forecast a CAGR of 6.4% from 2024 to 2033. The demand for cruiser variation is steadily growing, with users taking more interest in this segment, particularly in North America and Europe. With the improvement of lightweight cruiser motorcycles, the market is set to extend its prospects in the future. Thus, several motorcycle manufacturers are progressing into these segments to take advantage of the rising demand for cruiser motorcycles. Thus, the high demand for cruiser motorcycles contributed more to the market revenue.

The touring motorcycles segment is expected to witness the 2nd highest CAGR of 6.0% from 2024 to 2033. Touring motorcycles have higher power & torque, trendy colors, and eye-catching design. The touring motorcycles are comfortable to ride for a long distance. Hence, these bikes are more popular in developed countries such as the U.S., Canada, and South America. Thus, the touring motorcycles demand is increasing steadily and is expected to grow at a considerable CAGR over the forecast period.

Regional Insights

Europe is forecast to register the 2ndhighest CAGR of 6.0% from 2024 to 2033. According to the European Association of Motorcycle Manufacturers (ACEM), major countries in Europe such as Germany, Italy, France, the U.K., and Spain account for about 80.0% of on-road motorcycle registrations in 2020. The emerging trend of vehicle ownership, particularly among the millennial population, is also propelling the market growth in the region. Moreover, the growing travel and tourism industry in Europe has led to the rise of bike-rental services, thus further boosting the demand for on-road motorcycles. Thus, the market for on-road motorcycles in Europe is expected to witness a considerable CAGR over the forecast period.

Regional analysis revealed that the Asia Pacific accounted for a significant revenue share of more than 64.0% in 2023. According to Infineum International Limited, India, China, Indonesia, and Vietnam are the major countries that generated maximum revenue for the on-road motorcycle market. With high demand for on-road motorcycles in the developing countries of Asia such as India, Japan, Indonesia, and Vietnam, OEMs are creating manufacturing facilities in these nations to avoid paying import duties and to gain an edge in the motorcycle market. Thus, the demand for on-road motorcycles is high in the Asia Pacific and it contributes to more revenue generation in this region.

Some of the 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

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global on-road motorcycles market.

Type

• Sports Bikes
• Cruiser Motorcycles
• Touring Motorcycles
• Standard Motorcycles

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)