Motorcycles Market Expected To Fuel Industry Growth With $171.5 Billion By 2028: Grand View Research Inc.
The global motorcycles market size was estimated to reach USD 171.5 billion by 2028 and is anticipated to expand at a CAGR of 7.4% from 2022 to 2028 , according to a new report by Grand View Research, Inc. Rising disposable income and improvement in living standards has increased demand for motorcycles across the globe, thereby driving the market growth. In addition, the launch of high-performance motorcycles, the surge in sportbike users, and the developing trend of customization are the factors that drive the market. The travel restriction imposed by the governments on public transportation such as buses, trains, and metros has resulted in heavy demand for motorcycles amid the COVID-19 pandemic. The high cost of the motorcycles and uncomfortable seating structure are some of the factors hampering the growth of the market. Apart from that, the growing risk of road accidents for motorcycle riders acts as a major restraining factor for the market. Most of the major players operati