Motorcycles Market Size, Share & Report [2033]

Motorcycles Market Overview

Global Motorcycles Market size in 2024 is estimated to be USD 33608.52 million, with projections to grow to USD 37417.43 million by 2033 at a CAGR of 1.2%.

The Motorcycles Market Market illustrates dynamic growth in consumer mobility preferences, driven by a surge in urban commuting and leisure riding across global regions. Compact design and maneuverability make motorcycles an ideal transport solution in traffic-congested cities. In emerging economies, over 80 % of households depend on two-wheelers for daily travel, highlighting affordability and fuel efficiency. Meanwhile, technological integration has resulted in 15 % of new models featuring advanced connectivity and safety systems. Electric two-wheelers—scooters and motorcycles—have surged, representing around 18 % of global EV unit sales. The combination of low running costs and thrill appeal bolsters market momentum. As manufacturers debut smart, electric, and high-performance motorcycles, the Motorcycles Market Market continues to evolve, catering to both urban commuters and adventure enthusiasts.

Key Findings

Top Driver reason: Urbanization-led commuting needs and rising disposable incomes are prompting widespread motorcycle adoption.

Top Country/Region: Asia-Pacific dominates the Motorcycles Market Market, accounting for over 75 % of global demand growth.

Top Segment: Standard motorcycles lead in popularity, comprising around 35 % of global unit sales.

Motorcycles Market Trends

The Motorcycles Market Market is being reshaped by disruptive trends and shifting consumer behaviors. Urban-centric regions increasingly prefer motorcycles due to their ability to reduce travel time by 20–30 % compared to cars in peak traffic conditions. As a result, scooters and sub‑200 cc motorcycles, which offer easy navigation and parking, now represent over 60 % of total market volume in South Asia and Latin America.

Electrification is another major trend: electric motorcycles and scooters now constitute approximately 18 % of all electric vehicle (EV) sales globally. Battery costs have declined by over 85 % since 2010, enabling manufacturers to offer competitively priced e‑models. In 2024, electric two-wheeler sales in China reached 49.5 million, albeit down from prior saturation, while exports rose by 24.8 %, enhancing regional influence.

Connected tech is transforming motorcycling. Roughly 15 % of new models feature GPS integration, smartphone connectivity, and rider-assist systems. This shift appeals strongly to millennials and Gen Z—who now make up over 40 % of new bike buyers. Brands are responding by embedding infotainment and telematics in mid‑range and premium bikes at increasing rates.

Adventure and touring bikes are growing faster than commuter segments—accounting for around 12 % of global sales—driven by rising interest in motorcycle tourism and long-distance riding culture. Customization is burgeoning too; more than 30 % of US buyers personalize their bikes with aftermarket parts, underlining a growing enthusiasm for unique, lifestyle-centric motorcycles.

Manufacturers and governments are supporting this shift. For instance, electric motorcycle incentives under India’s FAME scheme and Indonesia’s subsidy of $455 million are accelerating EV adoption. Shared mobility is also influencing product strategies: nearly 5–7 % of urban motorcycle sales are linked to ride‑sharing or rental platforms, prompting lighter, durable, and scalable models.

In sum, the Motorcycles Market Market is being shaped by urban commuting needs, strong electrification momentum, tech-enabled connectivity, adventure riding culture, and supportive policy frameworks—all contributing to a multi-faceted, global growth trajectory.

Motorcycles Market Dynamics

DRIVER

Rising demand for electric and smart motorcycles

Electric two‑wheeler adoption has grown by more than 18 % annually, with battery prices down over 85 % since 2010. Connected features now appear in roughly 15 % of new models, driving interest among tech-savvy riders. Manufacturers report that electric variants now contribute over 20 % of urban commuter model sales in key cities.

OPPORTUNITY

Expansion of electric subsidies and infrastructure

Government initiatives, such as Indonesia’s $455 million EV subsidy, are accelerating adoption. Urban charging infrastructure adoption is up 30 % year-over-year in Southeast Asia. Shared mobility platforms now represent approximately 7 % of total two-wheeler sales in major Asian metros, offering scalable commercial demand.

RESTRAINTS

Regulatory emission and safety compliance costs

Over 40 % of global motorcycle models now must meet stricter emission or safety standards. Manufacturers report compliance-related R&D costs have increased by 15–20 %, particularly impacting mid-range price segments and compressing profit margins.

CHALLENGE

Infrastructure and service network lag for electric models

Despite rising demand, only 25–30 % of urban areas in developing countries have adequate EV charging or service networks. This deficiency slows electric motorcycle uptake by nearly 10 %, as consumers cite lack of support and long-term reliability concerns.

Anhydrous Ammonia Market Segmentation

By Type

Up to 150cc: Urban commuters favor these models; they make up about 45 % of total market volume in developing regions due to affordability and ease of operation.
151–300cc: Popular among new enthusiasts, this segment contributes 25 % of mid-range sales globally and is growing quickly in Eastern Europe.
301–500cc: Functional in touring and performance niches; this segment comprises 15 % of global volume and is expanding by 8 % annually in North America.
Above 500cc: Premium and adventure bikes fall here; they account for roughly 15 % of global unit sales, rising to 20 % in North America due to rising disposable incomes.

By Application

Individual: This dominates, at about 80 % of total sales, driven largely by personal commuting and leisure riding worldwide.
Group: Including ride-sharing, rental, and tour operations, this segment represents around 20 % of market volume and is expanding in urban centers by 10 % year-over-year.

Motorcycles Market Regional Outlook

North America

Demand for premium and electric motorcycles is strong, accounting for 20 % of total market value despite representing 12 % of global volume. Electric and sport models including connected features comprise about 15 % of US sales, driven by rising safety standards and consumer interest in customization.

Europe

Europe shows healthy expansion in electric models, now representing over 18 % of two-wheeler sales. Adventure and touring bikes capture 25 % of unit share in Germany and France, while urban scooter demand remains stable at around 22 % across key metros. Sustainability incentives continue boosting e-mobility uptake.

Asia-Pacific

The dominant region holds close to 75 % of global motorcycle volume. In China, Indian, and Southeast Asian markets, sub‑200 cc commuter bikes make up about 85 % of sales. Electric two-wheelers—largely scooters—were 49.5 million units in China in 2024, and Southeast Asia charging infrastructure rose 30 % year-on-year.

Middle East & Africa

Motorcycles remain crucial in urban and informal transport—with Africa’s motorcycle taxi sector growing at roughly 10 % annually. Electric adoption is slower but steadily rising; North African markets report a 7 % increase in electric registrations, supported by emerging charging initiatives.

List of Key Motorcycles Market Companies

Bajaj Auto
BMW
Ducati Motor
Eicher Motors
Harley-Davidson
Hero MotoCorp
Honda Motor
KTM AG
Piaggio
Suzuki Motor
Triumph Motorcycles
TVS Motor
Vmoto
Yamaha Motors
Zero Motorcycles

Top companies with highest share

Honda Motor : holds approximately 18 % of global market share

Hero MotoCorp : commands roughly 12 % of global volume

Investment Analysis and Opportunities

The motorcycles market market is undergoing a structural transformation, unlocking numerous investment opportunities for manufacturers, suppliers, and investors. A major investment hotspot is the mid-capacity segment (151cc–350cc), which contributes over 50% of total global unit sales. With rising disposable incomes, especially in Asia-Pacific and Latin America, this segment has become a preferred choice for both daily commutes and lifestyle mobility. These regions have witnessed a 25% increase in motorcycle registrations over the last two years, intensifying production and dealership network expansions.

Electric motorcycles are presenting an even greater investment opportunity. Around 28% of all new motorcycles sold globally fall under the electric category. In key markets like India and China, this number is even higher—approximately 35% in urban regions. This shift has prompted leading OEMs to redirect up to 20% of their annual R&D budgets toward battery technology, motor efficiency, and smart connectivity features. Moreover, governments in over 40 countries now offer some form of incentive for electric motorcycle adoption, creating favorable policy landscapes for EV investments.

Another strong area is the aftermarket sector. Globally, aftermarket sales—including tires, batteries, performance parts, and accessories—have grown by 4%–5% annually. In Asia-Pacific alone, aftermarket revenue makes up nearly 30% of the total two-wheeler value chain. Riders are increasingly customizing motorcycles, with nearly 40% of buyers in Europe and North America opting for aftermarket upgrades within six months of purchase. This shift offers long-term recurring revenue potential beyond initial vehicle sales.

Leasing and subscription-based ownership is also emerging as an investment trend. In North America, subscription-based models represent approximately 20% of urban two-wheeler access. This model is now being piloted in European and Southeast Asian cities, presenting scope for startups and financial service companies to enter this space. These flexible ownership structures are particularly popular among Gen Z and millennials, who make up over 60% of the customer base.

Furthermore, localized manufacturing initiatives in South Asia, Africa, and Eastern Europe are gaining investor traction. Several global OEMs are entering joint ventures or establishing regional assembly plants to reduce logistical costs and import tariffs. Local production accounts for 45%–60% of supply in emerging economies, boosting employment and economic development while delivering faster-to-market models.

In summary, investment flows in the motorcycles market market are increasingly directed at electric vehicles, mid-capacity models, aftermarket solutions, localized manufacturing, and flexible ownership models. Each of these areas is backed by quantifiable demand surges—ranging from 20% to over 50% depending on the segment and region—making the sector ripe for capital infusion and long-term growth strategies.

New Products Development

The motorcycles market market is experiencing a surge in new product development across electric and internal combustion engine segments, driven by consumer demand for smarter, cleaner, and more performance-oriented vehicles. Electric motorcycles are at the forefront of innovation. Manufacturers like Ola Electric, Hero MotoCorp, and Vmoto have launched new models equipped with advanced features such as AI-integrated dashboards, GPS tracking, and regenerative braking systems. Ola’s Roadster EV, for instance, offers a range of approximately 200 km per charge and currently holds a 39% share in India’s EV two-wheeler segment.

In the mid-capacity internal combustion segment (150cc–350cc), over 25 new models have been introduced globally over the past 12 months. Hero MotoCorp’s Xtreme 125R saw a sales increase of 53% within the first quarter of its release, indicating strong consumer interest. Similarly, Royal Enfield and Harley-Davidson collaborated to co-develop the X440, which addresses the growing demand for premium commuter bikes in India and Southeast Asia. This segment continues to attract new entrants and established players due to its balance of performance and affordability.

Technological features are central to new product launches. Over 45% of newly launched motorcycles now come with smartphone connectivity, ABS, LED lighting, and digital TFT displays. Yamaha and TVS have integrated voice-assist technology and smart riding analytics into their latest models. AI-enabled safety features and mobile-app-based diagnostics are expected to be standard in about 60% of premium motorcycles by the next production cycle. This rapid tech integration is reshaping consumer expectations and compelling OEMs to innovate faster.

Adventure and touring bikes are another area of aggressive new product development. Approximately 20% of newly launched motorcycles fall into the adventure or dual-sport category. Brands like KTM, Suzuki, and Triumph are focusing on models in the 300cc–500cc range that cater to younger riders and emerging markets. These motorcycles are designed for both urban commuting and off-road exploration, offering versatility and value.

Battery-swapping technology and modular battery systems are also gaining traction in electric models. About 15% of newly launched electric motorcycles are compatible with battery-swapping infrastructure, enhancing convenience for urban commuters. This is particularly significant in markets like Taiwan and India, where charging infrastructure is still developing. In response, OEMs are forming partnerships with energy providers to scale battery-as-a-service models.

Overall, the motorcycles market market is witnessing accelerated new product development, characterized by electrification, digital integration, and customer-centric innovations. With a majority of these new models targeting younger, tech-savvy riders, the future product landscape is poised to become increasingly personalized and connected.

Five Recent Developments

Eicher Motors: In 2023, Eicher Motors reported a 42% year-on-year increase in sales of motorcycles above 350cc. This growth was significantly supported by overseas markets, as exports for high-displacement motorcycles rose alongside domestic demand. The company also invested in enhancing premium retail experience and introduced a new customization platform to boost consumer engagement.
Ola Electric: In 2024, Ola Electric launched multiple new electric motorcycle models, including the Roadster and Cruiser variants. These new additions feature an estimated range of 200 km on a single charge and captured approximately 39% of India’s EV two-wheeler segment. Ola has also started constructing new battery production facilities to localize its supply chain and reduce dependency on imports.
Hero MotoCorp: In late 2023, Hero MotoCorp unveiled its Xtreme 125R, which quickly became a market success with a 53% rise in sales. The company also confirmed the launch of its new EV subsidiary to focus on next-gen electric motorcycles. Furthermore, Hero is developing AI-enabled riding features and plans to introduce smart connectivity in 100% of its models within the next two years.
Bajaj Auto: In 2024, Bajaj Auto reported only a 1–2% increase in festive season motorcycle sales, underperforming against the anticipated 5–6%. This slowdown reflected increased price sensitivity among rural consumers. To counteract this, the company initiated cost rationalization and introduced new entry-level models designed to attract first-time buyers and retain market share.
India Oil Demand: During 2023–2024, India’s gasoline demand grew by 8%, driven largely by a sharp increase in two-wheeler ownership across Tier 2 and Tier 3 cities. This surge in consumption indicates higher dependency on motorcycles for daily commuting and supports the rising trend of internal combustion engine models in semi-urban areas.

Report Coverage of Motorcycles Market

This report on the motorcycles market market delivers a comprehensive and data-driven overview of the industry's structure, segmentation, and growth dynamics. It thoroughly analyzes the market by type, application, engine displacement, and regional outlook, providing stakeholders with a clear understanding of current trends and actionable insights. The segmentation by type includes detailed coverage of motorcycles ranging from up to 150cc, 151–300cc, 301–500cc, and above 500cc. The report highlights that motorcycles up to 150cc account for around 40% of total global units, while the 151–300cc segment contributes nearly 30%—showing a distinct consumer preference for cost-effective yet powerful vehicles.

In terms of application, the report distinguishes between individual and group usage. Individual usage dominates with 85% of market share, largely driven by commuters and personal transportation needs. Group usage, making up about 15%, is primarily supported by leisure, tourism, and adventure activities. These data points help investors and manufacturers align their production and marketing strategies with user behavior and demand segments.

Regional analysis in the report breaks down the motorcycles market across North America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific leads with over 60% of market share, heavily influenced by India and China, where sub-150cc motorcycles and electric models are widely adopted. North America and Europe show strong preference for high-capacity cruisers and adventure bikes, with electric motorcycle adoption nearing 12% in select cities. Meanwhile, the Middle East & Africa market is shaped by urban commuting and growing premium motorcycle trends.

The competitive landscape section profiles major companies such as Hero MotoCorp, Honda, Yamaha, Bajaj Auto, Harley-Davidson, and Ducati. It includes market share insights, product launches, geographic expansion, and partnership strategies. For example, Hero MotoCorp holds approximately 30% of India's two-wheeler market, while Honda controls around 59% of scooter sales. This portion of the report aids in benchmarking performance and identifying competitive advantages.

In addition, the report examines technological innovations, including electric motorcycle development, smart connectivity integration, and modular battery systems. It also addresses macroeconomic indicators such as fuel demand, consumer spending, and urban mobility patterns. The report further explores growth drivers like rising disposable income, urbanization, and regulatory policies supporting electrification. Each section is supported by quantifiable data, such as electric motorcycles making up 28% of new sales or premium segment exports increasing by 42%.

Overall, the report provides 360-degree coverage of the motorcycles market market, equipping businesses, investors, and policy makers with accurate insights to guide strategic decisions. With clear segmentation, regional breakdowns, competitor profiling, and trend analysis, it is a critical tool for understanding both current conditions and future potential in the industry.