Global Motorcycle Rental Market By Type (Luxury Motorcycle, Commonly Motorcycle), By Application (Motorcycle Tourism, Commuter) and By Region - Global Forecast 2030

“Global Motorcycle Rental Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global motorcycle rental market has been segmented on the basis of type, application, as well as regions and countries.

The Global Motorcycle Rental Market was valued at UЅD $1,033.2 Мn in 2020, and is projected to achieve a valuation of UЅD $2,095.6 Мn by 2030, at a САGR of 8.9%.

Overview:

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 sideline to their main businesses of sales and service, but some businesses specialize in offering rental services.

Dynamics:

The increasing levels of vehicular traffic, especially in metropolitan and tier-1 cities across the world. This is gradually resulting in individuals opting to rental vehicles as opposed to purchasing their own. This is a primary factor that is anticipated to continue to fuel the revenue growth of the global motorcycle rental market over the next decade. Moreover, various rental service providers possess a vast fleet of motorcycle models, available in varying price ranges, from which potential clients can choose from. This is another major factor that is expected to boost market growth opportunities for this global industry in the years to come.

Additionally, the increasing availability of luxury motorcycles for rent at affordable prices, and the growing perception luxury motorcycle usage, especially in emerging economies, are some of the other factors that are expected to have a significant impact on the market growth prospects of the global motorcycle rental market in the near future.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global motorcycle rental market is no different, and this factor is anticipated to have an immensely negative impact on the revenue growth of this industry. Moreover, the high manufacturing setup costs associated with the production of mobile phone antennas is another factor that may restrain the revenue growth of the global mobile phone antenna market in the coming years.

Furthermore, the steady increase in disposable incomes of individuals across the world, as well as the drastic change in lifestyles are also factors that are expected influence the revenue growth of the global motorcycle rental market in the foreseeable future.

Segmentation of the Global Motorcycle Rental Market is as follows:

In terms of type, the luxury motorcycle segment accounted for the maximum number of revenue shares of the global motorcycle rental market in 2020, and is expected to continue doing so over the forecast period. The common motorcycle segment is anticipated to index a high CAGR over the next 10 years.

With regards to application, the motorcycle tourism segment accounted for the highest number of revenue shares of the global motorcycle rental market in 2020, and is anticipated to index the highest CAGR over the next decade. The commuter segment is also indicative of registering a high CAGR over the forecast period.

Regional Segmentation and Analysis:

The market in the Asia Pacific region accounted for the maximum number of revenue shares of the global motorcycle rental market in 2020, and are indicative of remaining this industry’s front-runner over the next decade. The markets in Europe and North America accounted for the second-, and third-most number of revenue shares in 2020, and are indicative of retaining their respective market positions over the course of the forecast period.

Segmentation of the Global Motorcycle Rental Market:

Segmentation by Type:

• Luxury Motorcycle
• Commonly Motorcycle

Segmentation by Application:

• Motorcycle Tourism
• Commuter

Segmentation by Regions:

• North America
• Europe
• APAC
• Latin America
• MEA