Global Motorcycle Industry Overview
The motorcycle industry continues to grow. Motorcycle sales reached over 1 million units in Europe in 2019. India is the world’s largest motorcycle market with over 17 million units sold in 2019. Around 200 million motorcycles are in use globally, which is 33 units per 1,000 people. These provide efficient transportation and help reduce traffic congestion.
In 2022, global motorcycle sales totaled 42.8 million units worth $106.7 billion. On-road motorcycles accounted for 70.7% of sales. Scooters had a 23.2% share, while off-road motorcycles comprised 6.1%. In the US, around 9.2 million motorcycles are registered. US sales reached 430,000 units worth $5.13 billion in 2022.
Several factors drive demand, like customization options and motorcycle lifestyles. Categories include mopeds, sports, cruisers, and more. Mid-size engines (801-1000cc) are especially popular. Leading brands such as BMW and Harley Davidson saw strong sales in 2022. Emerging markets like China, India, and Brazil also account for significant portions of sales.
Future of Motorcycles: Electric Market Growth
Looking ahead, the global electric motorcycle market is projected to grow at a CAGR of 8.6% from 2023-2029. Population growth and urbanization in the Asia Pacific region will boost demand for two-wheeled electric vehicles. Continued innovation in smart and sustainable transportation will shape the future motorcycle industry.