Prepare for an invasion of riders on our roads as motorcycle sales skyrocket, says international market researcher Global Industry Analysts (GIA).
Despite the effects of the GFC on motorcycle sales in the past five years, GIA’s latest report says sales of motorcycles, scooters and mopeds will reach 80.8 million units by 2020.
The report says there are many factors that will contribute to this growth.
“Favourable demographic trends, including growing population, increasing number of women and youngsters seeking affordable and convenient means of transportation, and growing number of ‘born-again’ middle-aged bikers seeking to reignite the thrill of bike riding, are providing much required traction to the market,” the GIA report says.
Another major reason listed in the report is the migration of rural populations to urban areas which puts mobility pressures on our cities. The report says public transportation systems are not up to the extra demands, so people are turning to cheaper and more convenient transportation, in particular, powered two-wheelers.
It’s all good news for riders because the larger the number of riders on our roads, the more political clout we will have to ensure laws and road rules are sympathetic to our needs.
Europe’s motorcycle market has been depressed and is now experiencing a resurgence exemplified by the range of new models at motorcycle shows in Cologne and Milan in the past month. Europe is currently one of the fastest growing markets at 4.8%.
However, the biggest growth in motorcycle sales is expected in the Asia-Pacific region where the key factors are huge populations, burgeoning economies, growing employment opportunities and a mass exodus of rural inhabitants to urban cities, particularly in China and India.
The GIA lists the major players in the market including two Indian companies and one Chinese. They are Bajaj Auto, BMW Group, China Jialing, Ducati, Harley-Davidson, Hero MotoCorp, Honda, Kawasaki, Piaggio, Suzuki, Triumph and Yamaha.
While future motorcycle sales growth will come from people seeking transportation solutions, ardent motorcycle riders like you and me know that bikes are not just about cheap, convenient and environmentally sound transportation solutions.
In other words, they don’t just move the body, they also move the soul.
This is a factor the report doesn’t seem to identify. In a world that is changing at ever-increasing rates, it’s nice to know there is something as simple as two wheels and an engine that can transport our mind and soul from the rat race.