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Motorcycle And Bicycle Global Market Report 2021 - COVID-19 Impact and Recovery
The Business Research Company's Motorcycle And Bicycle Global Market Report 2021 - COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK, November 23, 2021 /EINPresswire.com / -- Bicycle manufacturers are increasingly investing in the manufacture of electric bicycles that operate using rechargeable batteries. These electric bicycles serve as an eco-friendly, low-cost mode of transportation and can also be used for recreational bicycle trips, shopping and errands. Major players are also investing in new electric bicycles equipped with internet and GPS features. For instance, in 2019, Hero Cycles, a manufacturer of bicycles and bicycle related products, in partnership with Yamaha Motor Company launched its e-cycle named Lectro EHX20. Similarly, USA based bike manufacturer Bulls, launched three light-weight electric bicycles in 2020.
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The global motorcycle and bicycle market size is expected to grow from $74.36 billion in 2020 to $78.30 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The growth of the motorcycle and bicycle market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The motorcycle and bicycle market is expected to reach $109.74 billion in 2025 at a CAGR of 9%.
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Asia Pacific was the largest region in the global motorcycle and bicycle market, accounting for 42% of the market in 2020. North America was the second largest region, accounting for 20% of the global motorcycle and bicycle market. Africa was the smallest region in the global motorcycle and bicycle market.
Major players covered in the global motorcycle and bicycle market are Yamaha, Honda, BMW, Harley Davidson, Kawasaki.
TBRC's global motorcycle and bicycle market report is segmented by type into motorcycles and parts, bicycles and parts, motor scooters, other motorcycle and bicycle, by distribution channel into independent retailers, online sales.
Motorcycle And Bicycle Global Market Report 2021 - By Type (Motorcycles And Parts, Bicycles And Parts, Motor Scooters, Other Motorcycle And Bicycle), By Distribution Channel (Independent Retailers, Online Sales), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides motorcycle and bicycle market overview, forecast motorcycle and bicycle market size and growth for the whole market, motorcycle and bicycle market segments, and geographies, motorcycle and bicycle market trends, motorcycle and bicycle market drivers, restraints, leading competitors' revenues, profiles, and market shares.
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