The global conventional motorcycles and scooters market is projected to reach a valuation of USD 1,99,138.0 million by 2033. The market is anticipated to grow at a CAGR of 3.8% between 2023 and 2033. The conventional motorcycles and scooters market is set to be valued at USD 1,37,145.2 million in 2023.
Increasing transportation charges and longer commuting times of public transportation are the key factors that are projected to fuel growth in the conventional motorcycles and scooters market. Growing traffic congestion is also predicted to increase the commute time, which can be a concern for the working-class population. Hence, motorcycles and scooters are projected to provide an effective solution to save time owing to their small and compact size, which in turn, is likely to accelerate growth in the global conventional motorcycles and scooters market.
Furthermore, the increasing population and growing need for personal mobility are other factors driving the market positively. India and China are considered to be the prominent hubs for motorcycle and scooter manufacturers. The conventional motorcycles and scooters market holds about ~88 to 93% of the global two-wheeler market.
Besides, in developing countries, motorcycles have retained their dominance in recent years. Motorcycles are preferred over scooters due to their increased mileage and other benefits such as a larger gasoline tank, low maintenance costs, and longevity that go along with it. Additionally, motorcycles are preferred over scooters as they are said to have a sportier appearance and greater acceleration, compared to the latter.
| Attributes | Key Statistics |
|---|---|
| Global Conventional Motorcycles and Scooters Market Estimated Size (2023E) | USD 1,37,145.2 million |
| Projected Market Valuation (2033F) | USD 1,99,138.0 million |
| Value-based CAGR (2023 to 2033) | 3.8% |
| Collective Value Share: Top 5 Countries (2023) | More than 82.3% |
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According to historical data, the conventional motorcycles and scooters market exhibited growth at a CAGR of 3.4% between 2018 and 2022. The global market for conventional motorcycles and scooters is expected to reach USD 1,32,635.6 million in 2022.
Demand for high-engine capacity two-wheelers has increased as a result of consumers' rising involvement in leisure activities focused around traditional motorcycles and scooters such as racing, bike stunts, and off-road activities, due to high disposable personal income. This is expected to be the primary factor boosting the conventional motorcycles and scooters market forward.
Moreover, due to rising disposable income in rural areas and a dearth of reliable public transportation infrastructure, there is significant growth in terms of demand for motorbikes and scooters. As compared to urban areas, road infrastructure in rural areas is still in the stage of infancy. This, combined with the absence of an adequate transportation system, has fueled the expansion of the conventional motorcycles and scooters market in emerging economies.
Due to their easy handling, good stability, and lower price range, as compared to conventional motorcycles, scooters are currently more popular. These are preferred by all age groups, especially aged citizens, teenagers, and the female population. Original equipment manufacturers (OEMs) are also concentrating on enhancing the overall quality of scooters by adding equipment like disc brakes and ABS systems that are also seen in traditional motorbikes.
Growing Middle-class Population with Dual Income
The market for conventional motorcycles and scooters is mainly being driven by increasing urbanization in developing nations, rising employment rates, improvements in disposable income, and growing middle-class households with dual incomes. Other factors influencing growth in the conventional motorcycles and scooter market include affordable price ranges for the middle class and the freedom of movement that comes with it in congested metropolitan areas. Besides, low environmental effects and convenience of parking due to their compact size are projected to push the demand for conventional motorcycles and scooters in the assessment period.
Increasing Traffic Congestion Worldwide
Countries like India, China, France, and Italy have experienced severe traffic jams and smog development as a result of the rising number of heavy and four-wheeled automobiles on roads. Travel time has greatly increased due to growing traffic congestion, which is a major problem for the working-class population.
To address this issue, governments of the above-mentioned countries have enacted a wide range of measures such as lowering the top speed restriction for vehicles. Adoption of small and compact two-wheelers might be a practical answer to the issue of escalating traffic congestion. As a result, motorcycles and scooters are likely to position themselves as an efficient answer in the years to come, thereby driving the industry.
Incorporation of Advanced Features
Original equipment manufacturers (OEMs) have added multiple new features to conventional motorcycles and scooters such as automatic headlights on (AHO), disc brakes, and anti-lock braking systems (ABS), to gain an upper hand in the highly competitive market. These features are expected to help in increasing rider safety, reducing the chances of accidents, and maintaining the life of conventional motorcycles & scooters. Young riders belonging to the age group of 20 to 30 years often choose sports motorcycles owing to their rising preference for performance practicality that comes inbuilt with ABS systems and disc brakes to ensure maximum safety of riders.
Principal Consultant
Need for High Fuel Efficiency to Drive Sales of Mini Motorcycles in India
| Country | Market CAGR % (2023 to 2033) |
|---|---|
| India | 4% |
The Indian conventional motorcycles and scooters market is witnessing a significant surge in its valuation as a result of increased sales of conventional motorcycles and scooters. Ease of maneuvering through congested roads, reduced carbon emissions, higher fuel efficiency, and provision of an affordable form of transportation, as compared to three or four-wheeled vehicles are some of the major factors influencing the demand for conventional motorcycles and scooters in India. As per FMI, the Indian conventional motorcycles and scooters market is estimated to surpass USD 49,473.1 million by the end of 2023.
Rising Export Activities in Japan to Push the Demand for Moped Motorcycles
| Country | Market Share % (2023) |
|---|---|
| Japan | 9.9% |
The conventional motorcycles and scooters market in Japan is anticipated to be valued at more than USD 2,254.8 million in 2023. The Japanese Big Four are responsible for more than a quarter of all motorcycle sales worldwide. The backbone of the Japanese motorcycle industry is made up of Honda, Yamaha, Suzuki, and Kawasaki. Motorcycles are largely a product for export from Japan. The ones manufactured in the country are typically shipped to North America or Europe.
Rising Number of Motorcycle Clubs in the United States to Foster Sales of Dirt Bikes
| Country | Market Share % (2023) |
|---|---|
| The United States | 14.5% |
The conventional motorcycles and scooters market in the United States is anticipated to be valued at more than USD 9,993.6 million in 2023. Growth in the United States conventional motorcycle industry has been fueled by an increasing number of motorcycle clubs that promote riding cruiser motorcycles, which are represented by the legendary American brand Harley-Davidson and other companies.
In the current scenario, a certain class of the population in the United States is very active in recreational activities like countryside riding, especially with high engine capacity with a class type of motorcycles. This trend of recreational activities has changed the perception of riding in the country with males over 35 years of age actively involved in such activities.
Demand for Motorcycles to Grow at a Rapid Pace in the Upcoming Decade
| Segment | Market Share % (2023) |
|---|---|
| Conventional Motorcycles | 77.6% |
By product type, the conventional motorcycle segment is expected to reach a valuation of more than USD 102,925.2 million by the end of 2023 in the global conventional motorcycles and scooter market. Maxi, three-wheeled, and enclosed scooter product types are expected to be the least attractive of all the segments in the conventional motorcycles and scooters market owing to their high cost, bulky nature in terms of development, and impracticality, as compared to the standard segment.
Demand for Motorcycles and Bikes with Up to 150CC Engines to Aid Growth
| Segment | Market Share % (2023) |
|---|---|
| Upto 150 cc | 21.7% |
By engine capacity type, the up to 150cc segment is expected to dominate the global conventional motorcycles and scooters market in the evaluation period. As per FMI, the segment is projected to create an incremental opportunity worth more than USD 1,03,721.0 million by the end of 2023 in the global conventional motorcycles and scooters market. Motorcycles and scooters with this engine capacity type are small in size, as compared to other engines. These two-wheelers also have high fuel efficiency and sleek designs.
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Over the last few years, there has been a rising number of acquisitions and growth efforts to increase the supply of conventional motorcycles and scooters among key players. Several major firms are also working on technology development. Contracts & agreements, new product developments, and partnerships are some of the crucial growth strategies adopted by key firms to maintain their market positions.
For instance,
Yamaha, Hero, and Piaggio Are Looking Beyond Conventional Motorcycles and Scooters Designs!
Amidst all the buzz about electric motorcycles and scooters, the conventional category continues to be lucrative. Leading manufacturers are not only focusing on the electric segment but also ensuring that sales of conventional offerings remain intact. Additionally, the launch of new variants, price reductions, and upgradation of features are some of the other aspects that manufacturers are focusing upon.
They are also targeting developing countries because, in developed countries, motorcycles and scooters are usually considered a hobby or luxury, whereas, in developing countries, these are an important medium for commuting. For instance, as part of the medium-term management plan (2022 to 2044) for Yamaha Motor Co., a leading name in conventional motorcycle and scooter space, India and Nigeria are expected to be the key focus areas for the company. It is likely to focus on building its asset management business through partnerships with regional partners
Capacity expansion is another key focus area for the company, as it plans to utilize all of its 1.5 million installed production units per year by CY25, up from the present utilization rate of 55%. The two-wheeler producer also intends to quadruple domestic volumes by 2025.
To boost overall profitability and revenues, manufacturers are also focusing on launching new subdivisions. For instance, Hero MotoCorp unveiled its new brand Vida, in a bid to focus on its sustainability initiatives and take the lead in emerging technologies such as electric vehicles. It has also announced a USD 100 Million global sustainability fund. The sustainability fund will be a collaboration between BML Munjal University and Hero MotoCorp.
New product launch continues to be a key strategy for leading motorcycle and scooter manufacturers. For instance, in January 2019, Piaggio announced the launch of four new products across its flagship brands – Aprilia, Moto Guzzi, Piaggio, and Vespa. With the launch of new products around its flagship brands, the company is focusing on strengthening its position as one of the leaders in this space.
Further, to increase the total investment and credit line, Piaggio is partnering with reputed banks and lenders. In June 2022, the company announced that it has signed a deal with a group of main banks to extend and grow a revolving credit facility worth 187.5 million euros. The credit facility has been raised to 200 million euros as Piaggio has also got leading banks such as Bank of America, Merrill Lynch, Banca Nazionale del Lavoro, HSBC, Intesa Sanpaolo, ING Bank, and Unicredit on board.
| Report Attributes | Details |
|---|---|
| Estimated Market Size (2023) | USD 1,37,145.2 million |
| Projected Market Valuation (2033) | USD 1,99,138.0 million |
| Value-based CAGR (2023 to 2033) | 3.8% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD million) |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East & Africa (MEA). |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, Association of Southeast Asian Nations, Australia and New Zealand, GCC Countries, Northern Africa, South Africa |
| Key Market Segments Covered | Product Type, Engine Capacity Type, and Region |
| Key Companies Profiled | Yamaha Motors Co., Ltd.; Piaggio & C. SpA; Suzuki Motor Corporation; Honda Motor Co., Ltd.; Hero Motocorp Ltd.; Eicher Motors Limited; Harley-Davidson, Inc.; Bajaj Auto Ltd.; TVS Motor Company; Lifan Industry (Group) Co., Ltd.; Ducati Motor Holding S.p.A.; KTM AG; Triumph Motorcycles Ltd.; Kwang Yang Motor Co., Ltd.; Syarikat Motosikal dan Enjin Nasional Sdn. Bhd.; Sanyang Motor Co., Ltd.; Walton Group; QianJiang Group Co., Ltd.; Luoyang Northern Ek Chor Motorcycle Co., Ltd.; Chongqing YinXiang Motorcycle (Group) Co., Ltd |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, market dynamics and challenges, strategic growth initiatives |
The market is projected to expand at a 3.8% CAGR until 2033.
The 2023 market value is USD 1, 37,145.2 million.
The market developed at a 3.4% CAGR from 2018 to 2022.
India is predicted to expand at a 4% CAGR by 2033.
Conventional motorcycle unit is expected to be highly preferred.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Conventional Motorcycles 5.1.1. Standard 5.1.2. Cruiser 5.1.3. Mopeds 5.1.4. Sports 5.1.5. Others 5.2. Conventional Scooters 5.2.1. Standard 5.2.2. Enclosed 5.2.3. Maxi 5.2.4. Three-Wheeled 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Engine Capacity Type 6.1. Up to 150cc 6.2. 151-300cc 6.3. 301-500cc 6.4. Above 500cc 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Yamaha Motors Co., Ltd. 17.2. Piaggio & C. SpA 17.3. Suzuki Motor Corporation 17.4. Honda Motor Co., Ltd. 17.5. Hero Motocorp Ltd. 17.6. Eicher Motors Limited 17.7. Harley-Davidson, Inc. 17.8. Bajaj Auto Ltd. 17.9. TVS Motor Company 17.10. Lifan Industry (Group) Co., Ltd. 17.11. Ducati Motor Holding S.p.A. 17.12. KTM AG 17.13. Triumph Motorcycles Ltd. 17.14. Kwang Yang Motor Co., Ltd. 17.15. Syarikat Motosikal dan Enjin Nasional Sdn. Bhd. 17.16. Sanyang Motor Co., Ltd. 17.17. Walton Group 17.18. QianJiang Group Co., Ltd. 17.19. Luoyang Northern Ek Chor Motorcycle Co., Ltd. 17.20. Chongqing YinXiang Motorcycle (Group) Co., Ltd 18. Assumptions & Acronyms Used 19. Research Methodology
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Conventional Motorcycles and Scooters Market
