Motorcycles Fuel Tank Market Outlook 2030 -
Motorcycles are considered to be a convenient alternative to public transportation (which is often unreliable and overcrowded) as they are an easy mode of transportation for reaching destinations during road congestions. With the social advancement of women and growing demand for comfort and convenience, demand for scooters has been continually increasing, as they help riders in keeping their legs together, rather than straddling. The motorcycle market is dominated by Asian countries, such as India, China, Pakistan, Indonesia, Vietnam, etc., and these countries are likely to maintain their dominance over the coming years. Buyers in these countries are highly interested in purchasing pocket-friendly motorcycles, which majorly falls under the segment for less than 20-liter fuel tank. The Indian motorcycle market is the largest in the world since 2016 with major manufacturers such as Hero, TVS, Honda, etc. The motorcycles with less than 20-liter fuel tank have huge demand, as they are affordable and have a very low maintenance cost. Apart from the maintenance and affordability factor, these motorcycles give higher mileage than the premium bikes. Most of the motorcycle fuel tank manufacturing companies are concentrated in the Asia-Pacific region. Expansion of manufacturing plants and collaborations are the major characteristics of this market.
COVID-19 Impact analysis
The COVID-19 pandemic has limited growth of the motorcycle market with the closure of plants has brought the industry to a standstill and added intense pressure on manufacturers as well as the distributors and supply chain of motorcycle components. The pandemic is set to hit the economy of many countries, there is a chance of a recession period though there are many possibilities of sales going down in many manners. The upcoming launching of many high-tech vehicles has been put to hold in many countries seeking the condition of the pandemic, and will crucially affect the motorcycle fuel market in the forecast period. The full extent of COVID-19’s impact on human life, the global economy, and enterprises is not yet known but, it has become an extraordinary catalyst for change in the coming future. In the short-term, people are changing, and enterprises should update their personalization strategies to keep up which quickly update their understanding of individuals’ wants and needs, and quickly retire information that is no longer valid. The dynamics of the COVID-19 which are changing quickly and the inability to visit some physical sites have led to the realization that transparency about employee whereabouts and wellbeing, about goods in transit, and manufacturing has become very crucial.
Top Impacting Factors
- Surge in bike sales around the world, attractive design, and demand for light weight material are driving the growth of the market.
- Rise in penetration and demand for electric motorcycles, and enactment of stringent emission norms is expected to hamper the growth of te market.
- Increase in the consumer demand for high speed motorcycles, and rising disposable income can be seen as an opportunity for the market investments.
The motorcycles fuel tank market trends are as follows:
Surge in bike sales around the world
The trend of motorcycle riding is rising in the youth generation across the globe owing to the movies in the Hollywood and Bollywood related to the car and bike racing. Moreover, attractive marketing strategies and launch of various design of vehicles rises demand for advance vehicles by youth. There is an increase in the awareness among the bike riders for the good performance motorcycles. Youth consumers are very much selective about the performance and comfort of motorcycle. Furthermore, many automobile manufacturers are making joint ventures for the product expansion, and R&D. For instance, in January 2020, Bajaj Auto and Triumph Motorcycles signed a formal agreement to develop and manufacture mid-range motorcycles for emerging markets, including India. This partnership focuses on product development and brand portfolio across various regions, Also, in September 2020, Hero Motor Corp to make a partnership agreement with Harley Davidson to expand its premium product portfolio in all segments including engine capacity and components. In addition, companies are targeting the Tier II countries for their growth by increasing awareness through roadshows and presence in various popular shows across the roads, which result in more sales of motorcycle thus, directly propelling the growth of the motorcycles fuel tank market.
Key benefits of the report:
- This study presents the analytical depiction of the motorcycles fuel tank market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the motorcycles fuel tank market.
- The current market is quantitatively analyzed to highlight the motorcycles fuel tank market growth scenario.
- The report provides a detailed motorcycles fuel tank market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the motorcycles fuel tank market research report:
- Which are the leading market players active in the motorcycles fuel tank market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the motorcycles fuel tank market?
- What are the projections for the future that would help in taking further strategic steps?
Motorcycles Fuel Tank Market Report Highlights
| Aspects | Details |
 By Capacity |
|
 By Type |
|
 By Material |
|
 By Region |
|
 Key Market Players | Royal Enfield., JBM Group, AG Industries, Harley Davidson, Magna International, Goshi Giken Group, Linde-Wiemann GmbH, Textron-Kautex, Wuxi Zhengda Enterprise, Luxam DK Jain Group |
Loading Table Of Content...
