Europe Motorcycle Market Overview
The Europe Motorcycle Market was valued at USD 43.59 billion in 2023 and is projected to grow at a CAGR of 6.13% from 2024 to 2030. Motorcycles are two-wheeled vehicles with stronger frames than bicycles, powered primarily by petrol engines with capacities ranging from 125cc to over 1000cc. Commonly referred to as motorbikes or bikes, these vehicles are designed for various uses, including long-distance travel, commuting, cruising, sport, and off-road riding.
Market Segmentation
The motorcycle market is segmented based on motorcycle type, engine capacity, and geography:
- Motorcycle Type:
- Adventure
- Cruiser
- Mopeds
- Sports
- Standard
- Touring
- Engine Capacity:
- Up to 150 CC
- 151-300 CC
- 301-500 CC
- 501-800 CC
- 801-1000 CC
- 1001-1600 CC
- Above 1600 CC
- Geographic Scope:
- Major European countries including Italy, Germany, the United Kingdom, Russia, France, and the Rest of Europe.
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Market Dynamics
Driving Factors
The motorcycle market is influenced by several dynamics:
- Increasing Popularity: Riding motorcycles is increasingly viewed as a form of recreation and rejuvenation. The emergence of lightweight cruiser bikes and high-performance models is expanding market prospects, with many manufacturers focusing on standard and cruiser segments to meet growing demand.
- Economic Contributions: The motorcycle sector significantly contributes to the European economy, generating approximately €21 billion to the GDP. With around 389,000 jobs linked to motorcycle production, parts, accessories, clothing, and protective equipment, the industry’s employment impact is notable.
- Cost Efficiency: Commuting by motorcycle offers substantial savings, with average annual commuting costs of €545 compared to €1,435 for cars, making motorcycles an attractive alternative.
- Environmental Benefits: Motorcycles generally produce lower emissions than cars. With an average CO2 emission of 99 grams/km (compared to 210 g/km for cars), and even lower emissions for smaller capacity motorcycles, they present a more environmentally friendly transportation option.
- Traffic Efficiency: If just 5% of the 5.3 million car commuters in Europe switched to motorcycles, the annual time savings could total 21.2 million days, quantified at €3.3 billion, highlighting a significant opportunity for market growth.
Segment Analysis
Among motorcycle types, the Cruiser segment currently holds the largest market share, driven by a growing trend in Europe. This segment is expected to see sustained growth, capitalizing on the increasing popularity of cruiser models.
Impact of COVID-19
The COVID-19 pandemic adversely affected the European motorcycle market, with declines noted particularly in industrialized nations. Favorable government policies promoting innovation and a strong industrial base are essential for recovery and future growth.
Market Report Objectives
The primary goal of this report is to provide a comprehensive analysis of the Europe Motorcycle Market to stakeholders. Key objectives include:
- Identifying dominant trends and their implications for business investments.
- Understanding market dynamics and competitive structures by analyzing market leaders, followers, and regional players.
- Providing qualitative and quantitative insights into market segments and growth drivers.
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Competitive Landscape
The report outlines the competitive landscape of the market, detailing key players such as:
- Aprilia (Noale, Italy)
- BMW Motorrad (Gurugram, India)
- Ducati Motor Holding (Italy)
- KTM (Mattighofen, Austria)
- JAWA Moto (Prague, Czech Republic)
- Husqvarna Motorcycles (Stockholm)
- MV Agusta (Varese, Italy)
- Moto Guzzi (Mandello del Lario, Italy)
- Piaggio (Pontedera, Italy)
Strategic Insights
The report employs Porter’s Five Forces Model to help strategize within the market by identifying competitor dynamics, product quality, and market entry barriers. A PESTEL Analysis further aids in understanding the political, economic, social, technological, environmental, and legal factors that could impact market development.
Market Forecast
The market is projected to reach USD 66.12 billion by 2030, indicating a strong growth trajectory driven by favorable trends, increasing consumer preference for motorcycles, and ongoing advancements in technology.
Conclusion
The Europe Motorcycle Market presents a robust opportunity for growth, bolstered by evolving consumer preferences, economic contributions, and environmental advantages. Stakeholders can leverage this report to navigate market dynamics, identify opportunities, and develop strategic initiatives for the future.
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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