The growth in motorcycling clubs revolving around cruiser motorcycles in the region, popularized by Harley-Davidson and Indian motorcycles, has also augmented the growth of the market in the region.
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High disposable personal income in North America has led to the consumers in the region venture more into leisure activities revolving around motorcycles and scooters, such as racing, bike stunts and off-road activities, which in turn, has increased the demand for high engine capacity two wheelers. This is the main factor driving the growth of the motorcycle market in matured economies, such as North America and European countries. Furthermore, the growth in motorcycling clubs revolving around cruiser motorcycles in the region, popularized by Harley-Davidson and Indian motorcycles, has also augmented the growth of the market in the region.
Motorcycles to surpass scooters with a huge margin
The demand for motorcycle is expected to surpass scooter with a high margin owing to the fact that motorcycle manufacturers are integrating new technologies in the vehicles in order to cater to the numerous needs of the customers. In 2017, the motorcycle sector was valued at US$ 85,142 Mn. Manufacturers are focusing on manufacturing conventional motorcycles with a sportier look featuring air cooled engines as these types of engines are popular among younger riders and consumers in general. People prefer these motorcycles as they are equipped with larger displacement engines and provide good fuel efficiency as compared to smaller displacement engines. Economy segment motorcycles have maintained their prominence in the motorcycle market. Improvements in mileage and other advantages such as larger fuel tank, low cost of maintenance and longevity are responsible for the preference of these motorcycles over scooters. Moreover, motorcycles are known to feature a sportier look and higher acceleration as compared to scooters, which helps in augmenting the preference for motorcycles over scooters.
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The adoption of electric and hybrid motorcycles to emerge as a prominent trend in the global market
A recent trend observed in the motorcycle market is the increase in the adoption of electric motorcycles in some regions such as Europe and South Africa. With the governments focusing on electro mobility and reducing pollution, zero emission vehicles are being increasingly promoted through attractive incentives and schemes. This has led to an enhanced focus on electric motorcycles and thus, a significant increase in the sales of electric motorcycles is expected over the forecast period. Consumers in various countries of regions, such as North America, are focusing on the adoption of electric vehicles owing to their significant health-related benefits. Moreover, the provision for separate lanes for electric vehicles, such as electric bicycles, in South Africa is expected to be a key factor responsible for the adoption of electric bikes in the country.
Scooters to come back in vogue
In the current scenario, scooters are trending, owing to their easy handling, good stability and low price range as compared to conventional motorcycles. Scooters are being preferred by all age group populations, especially aged citizens, teenagers and females. OEM manufactures are also focusing on improving the overall quality of scooters by providing similar features that are present in conventional motorcycles such as disc brakes and ABS systems. The Indian scooters market recorded a healthy 12% yearly growth in 2016 over 2015 and is expected to grow in the future. As a result of these traits, scooters are expected to witness a growth in its demand in the long run.
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