U.S. Motorcycle Market Share, Growth, & Trends Analysis Report 2020—2027
The U.S. Motorcycle market size was valued at USD 8.25 billion in 2019 and it is anticipated to reach USD 12.25 billion market size by 2027 growing at a cagr of 3.2% over the forecast period. The growing adoption of electric motorcycles and of the increasing trend of moto vlogging is anticipated to support the US motorcycle market growth. Additionally, increasing promotion of motorsports such as bike racing, drift racing, stunt racing is expected to further boost the US motorcycles market in upcoming years.
Although that year 2020 started with some optimistic Trends for the u.s. motorcycle industry, the emergence of coronavirus pandemic which results in into lockdown in many states has severely impacted the motorcycle sales in the United States. The motorcycle sales were decreased by almost 40% between March 2020 and September 2020. The pandemic has not only affected the sales but also the production rates, the motorcycle industry supply chain was heavily affected resulting in a substantial delay in the supply of raw material and spare parts from the suppliers from Asia & Europe due to lockdown.
The market has been segmented based on product type into motorbikes, scooters, and mopeds. The motorbike segment is dominating the u.s. motorcycle market with greater than 55% market share in 2019. Motorbikes are highly preferred by regular Riders as motorbikes offer driving comfort for long-range driving, have greater engine capacity and performance, and are available in a premium range from Mini top motorcycle manufacturers in the U.S. Among motorbikes, the demand for sports bikes specifically hires in States such as California, mainly due to the increasing craze for bike racing in the state.
The demand for scooters is steadily increasing in the United States making it one of the fastest-growing segments in the upcoming few years.
Companies such as Honda have launched technologically advanced electric scooters and mopeds in the country to attract new Riders, especially from the middle-income group.
On the basis of type, the market has been segmented into fuel-based and electric motorcycles. The fuel-based motorcycle segment is dominating the market with a greater than 90% market share in 2019. Whereas the electric motorcycle segment is expected to emerge as the fastest-growing segment between 2020 to 2027. The demand for electric motorcycle is steadily growing in the United States, electric motorcycles are environmentally friendly, cost-effective, noiseless, pollution-free vehicles; therefore the US electric motorcycle market is expected to gain significant momentum over the forecast period.
Companies such as Harley Davidson, Honda Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., and Suzuki Motor Corporation accounted for the largest U.S. motorcycle market share by manufacturers in 2019. Companies in this particular market use strategies such as new product development, technological enhancement, social marketing strategies to improve their market share. The trend of bikers’ meetups, sponsored tours, video stories, and events are growing in the u.s. motorcycle industry.
Following is the list of top motorcycle manufacturers in the U.S. that are profiled in this particular report:
For the purpose of this report, UpGraph research has segmented the u.s. motorcycle by-product as mentioned below:
U.S. motorcycle market, By Product (Revenue in USD Million, Shipment in Units, 2017-2027)
U.S. motorcycle market, By Type (Revenue in USD Million, Shipment in Units, 2017-2027)
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