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Global Three-Wheeled Motorcycle Market To Be Driven By The Growing Concerns About Road Safety In The Forecast Period Of 2020-2025

The new report by Expert Market Research titled, ‘Global Three-Wheeled Motorcycle Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global three-wheeled motorcycle market, assessing the market based on its segments like wheel positions, types, engines, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2015-2025)

• Forecast CAGR (2020-2025): 12%

The rising awareness among people regarding road-safety is driving the three-wheeled motorcycle industry forward. The safety and stability provided to the vehicle by the introduction of an additional third wheel provides it with extra stability, providing further impetus to the three-wheeled motorcycle sales. Rapid urbanisation, rising disposable incomes, and increased congestion on city roads is aiding the market growth, especially in developing regions. More and more customers are shifting to vehicles with enhanced designs and comfort. Owing to rapid technological advancements and investments in this sector by leading automotive manufacturers, the market has seen a surge in demand for three-wheeled motorcycles, further driving the market growth forward.

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Industry Definition and Major Segments

A three-wheeler, as the name suggests, is a vehicle with three wheels. Some are motorised tricycles or motorcycles, while others are tricycles without a motor. Three-wheeled motorcycles are also known as motorised tricycle or trike. They are mostly powered by an electric motor, scooter, or a car.

Based on wheel position, the market is segmented into:

• Two Wheels at Front
• Two Wheels at Rear

The market by type can be bifurcated into:

• Sports
• Cruiser
• Touring
• Recreational

The vehicle by engine can be broadly classified into:

• Combustion Engines
o Up to 150 cc
o 151-300 cc
o 301-500 cc
o Above 500 cc
• Electric

The regional markets include:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Market Trends

With rapid urbanisation and rising disposable incomes in developing regions, the three-wheeled motorcycle market is gaining traction. The growing demand for improved vehicle safety is also driving the market forward. Veteran bikers suffering from aching knees and joints tend to prefer these, owing to the added stability in these vehicles. Moreover, developed regions like North America and Europe are expected to witness a growing demand for three-wheeled motorcycles. Many people, especially the youth segment’s attraction towards road trips and tourism activities, are providing an impetus to the market in these regions. Easier financing options for customers in developing regions like the Asia Pacific is also expected to drive the market forward.

Key Market Players

The major players in the market are Honda Motor Co., Ltd. (TYO: 7267), Yamaha Motors Cp., Ltd. (TYO: 7272), Harley-Davidson, Inc. (NYSE: HOG), Polaris Industries, Inc. (NYSE: PII), Bombardier Recreational Products Inc. (TSE: DOO), and Piaggio & C.S.p.a (BIT: PIA), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

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