The U.S. motorcycle market size is expected to reach
USD 10.88 billion by 2025, according to a new report by Grand View Research,
Inc., Increasing amount of disposable income is expected to drive the market.
Surplus amount of income is used by Americans to buy motorcycles which leads to
an increase in the sales and registration of vehicles. According to the Bureau
of Transportation Statistics, motorcycle registrations in the U.S. have
increased over the past 10 years, from 3,826,373 in 1997 to 6,678,958 in 2006,
which indicates an overall increase of 75%. Sales of new street-legal
motorcycles increased more sharply over the same period, from 260,000 in 1997
to 892,000 in 2006.
Furthermore, according to Statista Inc., a total of
487,144 units were sold in the U.S. in the year 2016. This shows the potential
demand and growth for these products in the coming years. Growing economic
standards, changing lifestyle and increasing rates of petroleum are shifting
the customer preference towards motorcycles which offer greater fuel efficiency
in comparison to cars. Motorcycles are an effective and affordable way of
transport owing to which the working class and the younger generation of the
society are more attracted towards these products. Growing urbanization is also
a significant factor driving the growth of the market in the country.
According to the International Organization for
Migration in 2015, around 3 million people are migrating to cities every week.
Currently, around 82% of the population in North America are living in the
urban areas with a high concentration in mid and large-sized cities. Such huge
trend towards urbanization has led to growing awareness of new products and
their easy availability. All these factors are expected to boost the U.S.
motorcycle industry over the forecast period.
Full
Research Report On U.S. Wine Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/us-motorcycle-market
www.grandviewresearch.com/industry-analysis/us-motorcycle-market
Further
key findings from the report suggest:
- Motorbikes segment held the dominant share of
56.7% in the U.S. motorcycle market owing to the high adoption rate and
wide range of products
- Scooters segment is expected to grow at a
lucrative rate of 4.0% over the forecast period owing to the associated
advantages such as better fuel efficiency, lightweight, and low cost.
- Harley Davidson dominates the U.S. motorcycle
industry with a market share of nearly 47%.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/consumer-goods
www.grandviewresearch.com/industry/consumer-goods
Grand View Research has segmented the U.S. motorcycle market on the basis
of product:
U.S.
Motorcycle, Product Outlook (Revenue, USD Million, 2014 - 2025)
- Motorbikes
- Scooters
- Mopeds
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/us-motorcycle-market-analysis
www.grandviewresearch.com/press-release/us-motorcycle-market-analysis
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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