MarketResearch.biz has recently published its market research report titled, “Global Motorcycle Rental Market by Type, by Application, and by Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) – Global Forecast from 2020 to 2029”. The report offers a deep-dive analysis of the global motorcycle rental market. It is through systematic and exhaustive research efforts, both primary and secondary, as well as ideal segmentation that the research results have been gleaned over the study period. The report also presents the first five-year cumulative revenue (2020–2024), which is projected to be valued at more than US$ 6 Billion, and this is expected to increase quite significantly over the latter part of the five-year forecast period.
Motorcycle rental refers to pay and ride services that are operated via a network of nodal points (pickup and drop-off points) and the two-wheeler providers offer wide range of motorcycles that customers can choose from. In the motorcycle rental system, the two-wheelers are owned by service providers and are available to customers only for rental purposes. As per specific requirement, the customers can either rent the motorcycle on daily basis plan, monthly plan, or annually subscription. This approach or method is gaining traction at a faster pace as it offers various benefits including transportation benefits at low costs, social benefits, and most importantly environmental benefits.
Browse the full “Global Motorcycle Rental Market By Type, By Application, And By Region (North America, Europe, Asia Pacific, South America, And Middle East & Africa) – Global Forecast From 2020 To 2029” report at https://marketresearch.biz/report/motorcycle-rental-market/
Global Motorcycle Rental Market: Dynamics
Adoption of motorcycle rental services has been significantly higher over the last few years owing to cost benefits offered to users. This service enables customers to own a motorcycle without actually owing or purchasing one and helps to avoid burden of spending money to buy a two-wheeler, as well as maintenance costs. Moreover, shifting population from rural locations to urban cities for jobs and to earn a living mostly prefer not to purchase vehicles as they may want to move out of the city anytime. This is another factor which is expected to result in higher adoption of motorcycle rental services in megacities and metropolitan cities. In addition, urban areas have recorded traffic congestions, and high levels of air pollution, which is projected to have a positive impact on demand for motorcycle rental services. Inclining trend of road-trips and tourism is another key factor projected to propel market growth. However, inclination towards four wheelers as they over higher level of comfort and helps to avoid air and noise pollution, and increasing number of taxi services are some of the major factor that could hamper target market growth.
Global Motorcycle Rental Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global motorcycle rental market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global motorcycle rental market is expected to register a CAGR of 6% over the forecast period.
Global Motorcycle Rental Market: Segmental Snapshot
The market report has been segmented on the basis of type, application, and region. The type segment includes luxury motorcycle, and commonly motorcycle. The application segment includes motorcycle tourism, and commutes. The regions include North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Type: The luxury type segment is expected to account for highest revenue share in the global market, and is projected to register highest CAGR of more than 8.5% over the forecast period
Application: The motorcycle tourism segment is expected to account for highest share in terms of revenue, and is projected to register highest growth rate of over 8%
Region: The market in the Asia Pacific is expected to account for largest revenue share in the global market, and is projected to register the highest CAGR of over 9.1% over the 10-year forecast period
Global Motorcycle Rental Market: Competitive Analysis
The global motorcycle rental market research report includes company profiles of major players/ companies such as Hertz Corporation, Harley-Davidson, Inc., Adriatic Moto Tours, Wheelstreet, MotoQuest, EagleRider, Motoroads, Dubbelju Motorcycle Rentals, Kizuki Rental Service Co. Ltd., and WickedRide Adventure Services Private Limited.
“Global Motorcycle Rental Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2020–2029” report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global motorcycle rental market for 2019–2029.
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