U.S. Motorcycle Market Growth & Trends
The U.S. Motorcycle Market size is expected to reach $12.25 billion by 2027, growing at a CAGR of 3.2% between 2020 to 2027 as per the new research report published by UpGraph Research. An increase in the demand for bikes in the young generation can help to boom this industry in near future. The young generation is day by day attracted to the superbikes and the amount of disposable income is also increasing, hence the substantial growth of the U.S. Motorcycle has been projected in the forecast period.
When we talk about transportation mediums, Motorcycles are the economically feasible and convenient mode of transportation as compare to other vehicles. Also, Motorcycles are faster in way of transportation than other vehicles, hence the demand for the Motorcycle is rapidly increasing in the US Market.
Many of the new players are entering into the U.S. Motorcycle market and they are investing in the development of new and different vehicles like scooters and different bikes. Also, they provide new designs and custom designs to the consumers as per their interest and because of this, the overall demand for U.S. Motorcycle has been increased. In 2014 in the US Market, 8.4 million motorcycles have been registered. Motorcycles are easy to operate in congested areas, they are low-cost vehicles and their engine provides greater fuel efficiency as compared to other automobile vehicles so these all qualities make Motorcycles desirable product.
Women are providing a new consumer base to this U.S. Motorcycle industry, as the female ownership of bike has been increasing in 2014 by 14%. Hence the manufacturers are focusing on the production of lighter and smaller bikes. These are other factors that are helping to boost the U.S. Motorcycle industry in the forecast period.
U.S. Motorcycle Market Segmentation
For this study, the U.S. Motorcycle Market has been segregated into the following key segments.
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)