Key Highlights
- The global motorcycle market was valued at approximately $115 billion in 2022
- Asia-Pacific accounts for over 75% of worldwide motorcycle sales
- In 2023, over 87 million motorcycles were sold globally
- The United States has more than 8 million registered motorcycles
- Honda is the leading motorcycle manufacturer worldwide, holding approximately 20% market share as of 2022
- Electric motorcycles are projected to constitute over 30% of global motorcycle sales by 2030
- The motorcycle industry provides employment to over 22 million people worldwide
- India is the largest motorcycle market by volume, with over 18 million units sold in 2022
- The number of motorcycle accidents in the US increased by 3% in 2022 compared to 2021
- The average age of motorcycle riders in the US is around 45 years old
- The global motorcycle helmets market is expected to reach $2.5 billion by 2027, with a CAGR of 5%
- European countries such as Italy and France have seen a 12% increase in motorcycle registrations during 2022
- The average fuel efficiency of motorcycles is approximately 70 miles per gallon
The motorcycle industry is speeding into a new era of innovation, growth, and sustainability, fueled by a booming global market valued at over $115 billion in 2022 and shifting rapidly toward electric mobility and smarter technologies.
Electric and Alternative Technologies
- The motorcycle industry’s carbon footprint reduction efforts include the development of electric models and sustainable manufacturing practices
Electric and Alternative Technologies Interpretation
Manufacturers and Brands
- Honda is the leading motorcycle manufacturer worldwide, holding approximately 20% market share as of 2022
- The top three motorcycle brands in terms of global sales are Honda, Yamaha, and Hero MotoCorp
- The fastest production motorcycle record was held by the Kawasaki Ninja H2, reaching 249 mph in 2020
Manufacturers and Brands Interpretation
Market Sizes and Trends
- The global motorcycle market was valued at approximately $115 billion in 2022
- In 2023, over 87 million motorcycles were sold globally
- The United States has more than 8 million registered motorcycles
- Electric motorcycles are projected to constitute over 30% of global motorcycle sales by 2030
- The motorcycle industry provides employment to over 22 million people worldwide
- India is the largest motorcycle market by volume, with over 18 million units sold in 2022
- The average age of motorcycle riders in the US is around 45 years old
- The global motorcycle helmets market is expected to reach $2.5 billion by 2027, with a CAGR of 5%
- The average fuel efficiency of motorcycles is approximately 70 miles per gallon
- The global motorcycle aftermarket industry was valued at over $32 billion in 2022
- The adoption of IoT and smart technology in motorcycles is projected to grow at a CAGR of 7% through 2028
- The most popular motorcycle segment is the commuter bikes category, accounting for nearly 54% of sales globally
- In 2022, the e-motorcycle segment experienced a growth rate of 15% compared to the previous year
- China is the world’s largest producer of motorcycles, manufacturing over 22 million units in 2022
- The average age of motorcycle buyers in the US is rising, from 41 years in 2012 to 45 years in 2022
- The average price of a new motorcycle in the US is approximately $9,500
- Entry-level motorcycles typically cost between $2,000 and $4,000, making them the most affordable segment
- The number of motorcycle licenses issued globally increased by 6% from 2019 to 2022
- The average monthly fuel cost for a motorcycle rider in the US is around $50, depending on usage
- The motorcycle industry has seen a 20% increase in online sales during the COVID-19 pandemic
- Motorcycle safety gear sales, including jackets, gloves, and protective pants, increased by 12% in 2022
- The global market for motorcycle tires is valued at over $4 billion and is expected to grow annually by 4.5% through 2025
- India’s government has promoted motorcycle use as part of its urban transportation plans, leading to a 10% annual increase in sales since 2018
- The penetration of ABS (Anti-lock Braking System) in new motorcycles globally reached 65% in 2023, up from 30% in 2018
- Custom motorcycle segments comprise approximately 8% of total motorcycle sales worldwide
- The rise of ride-sharing and subscription motorcycle services is expected to grow at a CAGR of 7% through 2027
- The global lithium-ion battery market for electric motorcycles is expected to grow at a CAGR of 23% from 2023 to 2030, reaching a value of $4.8 billion
- The growth of urbanization is projected to increase global motorcycle demand by an additional 12 million units annually by 2030
- As of 2023, only about 20% of all motorcycles sold worldwide are electric, indicating significant growth potential
- North American motorcycle insurance premiums reached approximately $3.4 billion in 2022, showing industry growth in the insurance segment
- Hybrid electric motorcycles are emerging, combining traditional engines with electric motors, with a projected market share of 5% by 2025
- The motorcycle racing industry contributes over $2 billion annually in related revenues globally, including events, sponsorships, and media rights
Market Sizes and Trends Interpretation
Regional Markets and Adoption
- Asia-Pacific accounts for over 75% of worldwide motorcycle sales
- European countries such as Italy and France have seen a 12% increase in motorcycle registrations during 2022
- North America accounts for approximately 12% of the global motorcycle market
- Electric motorcycle adoption in Europe is increasing rapidly, with over 250,000 units sold in 2022
- The top five motorcycle exporting countries in 2022 were China, Japan, India, Vietnam, and Thailand
- The majority of motorcycle owners in urban areas prefer scooters and smaller bikes due to ease of parking and maneuverability
- In 2022, the top three countries for motorcycle exports were China, India, and Vietnam, accounting for over 70% of world exports
- The penetration of electric scooters in North America is expected to reach 8 million units by 2030, driven by urban congestion and environmental policies
Regional Markets and Adoption Interpretation
Safety, Maintenance, and Industry Challenges
- The number of motorcycle accidents in the US increased by 3% in 2022 compared to 2021
- The average lifetime of a motorcycle is around 15 years with proper maintenance
- The most common causes of motorcycle accidents are speeding, alcohol impairment, and non-use of helmets, according to NHTSA
- Maintenance and repair services account for about 25% of the U.S. motorcycle aftermarket revenue
- The average annual maintenance cost for a motorcycle in the US is around $250, depending on model and usage
- The average lifespan of motorcycle tires is approximately 3,000 to 5,000 miles, depending on riding style and terrain
Safety, Maintenance, and Industry Challenges Interpretation
Sources & References
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