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
15th October 2019
find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
“Global Motorcycle Rental Market” is a published report at MarketResearch.biz. The global motorcycle rental market is expected to be valued at over US$ 1 Bn in 2020 and is projected to register a CAGR of 8.2% over the forecast period. The global motorcycle market report has been segmented on the basis of type, application, and region.
Motorcycle rental is a business that allows individuals to rent motorcycles for a time period and return it when their requirement is over. It is the best alternative for motorcycle ownership. In this process, owners of motorcycle rental firms allow users to rent their motorcycles on an annually, monthly, and daily basis. This avoids the burden of shipping users’ motorcycles when they want to do a bike tour. The process of renting motorcycles is the same as that of renting a car. A valid driving license is needed to rent a motorcycle. Motorcycle rental services operators normally have pickup and drop-off services. They also offer a wide range of different types of two-wheelers to their clients, which enable clients to choose a motorcycle of their choice, pay and ride whenever they want. Motorcycle rental services have evolved over the years from a basic service provided by well-known organizations to a globally recognized service of advanced urban transport industry. The automotive rental industry has been growing to a globally recognized industry providing various transportation benefits, social benefits, and environmental benefits. Due to cost advantages, various firms offer to users, demand for motorcycle rental has increased over the past few years. Renting motorcycles allow users to use it for rides without maintenance cost and a burden of ownership.
The global motorcycle rental market is projected to have a significant growth during the forecast period due to growing number of bike tours around the globe. In addition, in countries like India, wildlife tourism covers around 40% of the domestic tourism industry and adventure tourism about 35% of the same. As most of the famous tourist spots have very limited transportation facilities, the global market of motorcycle rentals is expected to have further growth. Moreover, visitors of these famous tourist destinations want their vehicles to reach the place and rent a motorcycle for the same. An increase in road trip tourism around the globe is expected to increase demand for motorcycle rental services in the global motorcycle rental market during the forecast period. In addition, an increasing popularity of various motorcycle racing across the globe is projected to increase demand for motorcycle rental services. The wide use of the internet to customize reservations, travel trips, and bookings is expected to bring various growth opportunities to the market.
Continuous growing vehicle traffic has become a serious issue in metropolitan cities around the globe. Due to the lack of proper road infrastructure, developing nations are affected by serious traffic congestion issues. This made riders to use rented motorcycles over self-purchased motorcycles. This is a factor expected to drive demand for motorcycle rental services in the global motorcycle rental market during the forecast period. Other factors driving the demand for motorcycle rental services in the global motorcycle rental market are high purchasing cost of luxury bikes and the growing perception of luxury motorcycles in developing economies such as China, India, and Japan. Motorcycle rental companies are providing various luxurious motorbikes on rent at an affordable rate. Attributed to this affordability and convenience, consumers are adopting motorcycle rental services instead of buying, which is driving growth of the motorcycle rental market.
Global Motorcycle Market Segment Analysis:
By Type: Among the type segments, the luxury motorcycle segment is projected to account for majority revenue share, and register a CAGR of over 8.5% over the forecast period.
By Application: Among the application segments, the motorcycle tourism segment is projected to account for majority revenue share, and register a CAGR of 8% over the forecast period.
Global Motorcycle Market Regional Analysis:
The market in Asia Pacific currently accounts for highest revenue share among the regional markets, followed by North America, Europe, South America, and Middle East & Africa respectively. The Asia Pacific market is projected to register highest CAGR of over 9.1% in the global motorcycle rental market.
Key Developments by Companies:
Harley-Davidson, Inc. (Year-2019)
Contracts/Agreements; In January, the company and Panasonic entered into a partnership to introduce its first electric motorcycle.
Acquisitions/Mergers/Takeovers; In March, the company acquired StaCyc, a manufacturer of kids electric-powered two-wheelers.
New Products/Services; In August, Harley-Davidson introduced the new electric motorcycle LiveWire in India.
New Products/Services; In August, Harley-Davidson introduced the BS-VI emission norm compliant Bike, Street 750, in India.
Contracts/Agreements; In August, the company partnered with Uncharted Supply to develop motorcycle rider-focused products.
EagleRider partners with Total Control Training, Inc. to encourage new riders by giving out exciting offers.
EagleRider adds three new routes in the Alaskan region, the final frontier of the USA.
EagleRider announces a strategic alliance with RevZilla, the world's largest online motorcycle gear retailer
EagleRider and Harley-Davidson now have 100 plus rental locations
EagleRider starts its operations in India
EagleRider and Harley-Davidson enter into an exclusive agreement
Global Motorcycle Market Segmentation:
- Luxury Motorcycle
- Commonly Motorcycle
- Motorcycle Tourism
- North America
- Asia Pacific
- South America
- Middle East & Africa
- Hertz Corporation
- Harley-Davidson, Inc.
- Adriatic Moto Tours
- Dubbelju Motorcycle Rentals
- Kizuki Rental Service Co. Ltd.
- WickedRide Adventure Services Private Limited
- Chapter 1 Global Motorcycle Rental Market Overview
- 1.1 Introduction
- 1.2 Taxonomy
- 1.3 Drivers for Global Motorcycle Rental Market
- 1.4 Restraints for Global Motorcycle Rental Market
- 1.5 Opportunities for Global Motorcycle Rental Market
- 1.6 Trends for Global Motorcycle Rental Market
- 1.7 PEST Analysis
- 1.8 PORTER’s Five Forces Analysis
- 1.9 Macro-Economic Factors
- 1.10 Market Expansion Strategies
- 1.11 Market Investment Feasibility Analysis
- 1.12 Opportunity Orbits
- 1.13 Regional Market Share and BPS Analysis in Global Motorcycle Rental Market
- 1.14 Go to Market Strategy – Market Maturity
- 1.15 Opportunity Map Analysis
- 1.15.1 Optimistic Scenario
- 1.15.2 Likely Scenario
- Chapter 1 Global Motorcycle Rental Market Overview
Frequently Asked Questions (FAQ)
Revenue from the luxury motorcycle segment in the global motorcycle rental market is projected to expand at a CAGR of 8.8% over the forecast period
The projected global revenue share difference between luxury motorcycle and common motorcycle segments in the global market in 2029 is US$ 819 Mn.
Asia Pacific market is projected to account for highest revenue share of US$ 547.1 Mn in 2022.
In 2026, luxury motocycle segment is projected to account for revenue share of US$ 1,116.2 Mn
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