The section supplies an in depth evaluation of key market gamers and the methods for enlargement within the motorbike market. The influence of COVID-19 may have a long run implication on the growth of the motorbike market. It is anticipated that even when the pandemic is introduced beneath management, the demand is anticipated to remain muted until the end of 2020 owing to the unsure financial situation.
According to the Motorcycle Industry Council, the female possession of bikes has elevated to 14% in 2014. Owing to which the manufacturers are focusing in the direction of growing smaller and light-weight bikes. The U.S. motorcycle market size was estimated at USD 7.eighty five billion in 2016 and is anticipated to grow at a CAGR of three.7% over the forecast period. High disposable income is expected to speed up the demand for motorcycles on this area over the forecast period.
However, a optimistic outlook for bikes in creating countries of Asia-Pacific coupled with the shift in direction of personal mobility amid COVID-19 is anticipated to foster the demand for motorbike market. Furthermore, to cope with this outbreak, manufacturers are specializing in integrating technology of their manufacturing processes to streamline their supply chain and optimize manufacturing.
Data counsel a considerable generational divide in attitudes toward heavyweight bikes, the type of bikes offered by brands similar to Harley and Polaris’ Indian brand, mentioned UBS analyst Robin Farley in a note printed Friday. Secondary assets referred to analysts during the preparation of the bike market study include statistics from governmental organizations, trade journals, white papers, and internal and exterior proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, advertising/product managers, and market intelligence managers, who have contributed to the development of this report as a major useful resource. Regional evaluation in terms of supply chain evaluation, enterprise execution and market worth analysis supplies an in-depth perspective about the future scope of the global motorcycle market. In addition, a separate section on the market structure has additionally been offered.
In addition, prominent gamers are making substantial progress by growing an alternate source for procuring components amid COVID-19. This is anticipated to revamp their manufacturing process and drive the expansion of the motorbike market. As per the report revealed by Fact.MR, it’s estimated that the motorbike market will begin showing optimistic signs by the end of 2020. At the same time, manufacturers are optimistic that with the resumption of production vegetation in China and development of locally sourced components, this can enable them to maneuver in the direction of a recovery phase which is foreseen to stabilize the motorcycle market. It isn’t solely connectivity that is persevering with to pick up pace at Bosch, but additionally electromobility.