The U.S.
motorcycle market size is expected to reach USD 10.88 billion by
2025, according to a new report by Grand View Research, Inc., Increasing amount
of disposable income is expected to drive the market. Surplus amount of income
is used by Americans to buy motorcycles which leads to an increase in the sales
and registration of vehicles. According to the Bureau of Transportation
Statistics, motorcycle registrations in the U.S. have increased over the past
10 years, from 3,826,373 in 1997 to 6,678,958 in 2006, which indicates an overall
increase of 75%. Sales of new street-legal motorcycles increased more sharply
over the same period, from 260,000 in 1997 to 892,000 in 2006.
Furthermore, according to Statista Inc., a total of
487,144 units were sold in the U.S. in the year 2016. This shows the potential
demand and growth for these products in the coming years. Growing economic
standards, changing lifestyle and increasing rates of petroleum are shifting
the customer preference towards motorcycles which offer greater fuel efficiency
in comparison to cars. Motorcycles are an effective and affordable way of
transport owing to which the working class and the younger generation of the
society are more attracted towards these products. Growing urbanization is also
a significant factor driving the growth of the market in the country.
According to the International Organization for
Migration in 2015, around 3 million people are migrating to cities every week.
Currently, around 82% of the population in North America are living in the
urban areas with a high concentration in mid and large-sized cities. Such huge
trend towards urbanization has led to growing awareness of new products and
their easy availability. All these factors are expected to boost the U.S.
motorcycle industry over the forecast period.
Browse full research report on U.S. Motorcycle Market: https://www.grandviewresearch.com/industry-analysis/us-motorcycle-market
Further
Key Findings From the Study Suggest:
- Motorbikes segment held the dominant share of 56.7% in the U.S.
motorcycle market owing to the high adoption rate and wide range of
products
- Scooters segment is expected to grow at a lucrative rate of 4.0%
over the forecast period owing to the associated advantages such as better
fuel efficiency, lightweight, and low cost.
- Harley Davidson dominates the U.S. motorcycle industry with a
market share of nearly 47%.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/consumer-goods
Grand
View Research has segmented the U.S. motorcycle market on the basis of product:
U.S.
Motorcycle, Product Outlook (Revenue, USD Million, 2014 - 2025)
- Motorbikes
- Scooters
- Mopeds
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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