“Global Motorcycle Rental Market, By Type (Luxury Motorcycle, Commonly Motorcycle), By Application (Motorcycle Tourism, Commuter), as well as by Region – Global Forecast 2021 to 2029.”, which offers a comprehensive view of the Global Motorcycle Rental Market through systematic segmentation, covering every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this market is projected to be over $1,505.5 Mn, and is estimated to increase significantly over the latter part of the forecast period.
A motorcycle for hire or motorcycle rental business rents out motorbikes for short periods of time, usually on an hourly basis. Most rental services are offered by bike stores or garages as a side-line to their main businesses of sales and service, but some businesses specialize in offering rental services.
Vehicular congestion is rapidly becoming a serious problem for most local, state, and national governing authorities across the globe to manage. This is an even greater problem in several metropolitan and tier-1 cities of the world. As such, a growing number of individuals are now more keen on the notion of renting rather than buying to own, which is a major factor that is expected to continue to fuel the revenue growth of the Global Motorcycle Rental Market in the foreseeable future. Additionally, the number of rental services providers has exponentially increase in recent years, with several of them offering a wide range of rental options for varying budgets. This is also a factor slated to further contribute to the market growth of this global industry. Furthermore, a gradual change in lifestyles for several individuals, as well as the fact that there has been a stable increase in the disposable incomes of individuals around the world are also elements expected to influence this global industry, further augmenting its market’s footprint. These are some of the most crucial factors anticipated to play a critical role in augmenting projected revenues for the Global Motorcycle Rental Market to $2,095.6 Mn by 2029, at a CAGR of 8.9%.
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