Used Bike Market Will See Strong Expansion Through 2031

Used Bike Market

By Type, the standard segment is anticipated to exhibit significant growth in used bikes market in the near future..

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, April 24, 2024 /EINPresswire.com/ — 𝐔𝐬𝐞𝐝 𝐁𝐢𝐤𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 by Distribution Channel (C2C and B2C), by Source (Domestically Manufactured and Imported Bikes), by Engine Capacity (50 to 125cc, 125 to 250cc, Above 250cc, and Electric), by Type (Standard, Sport, Cruiser Bikes, Mopeds, and Others), by Propulsion (ICE and Electric): Global Opportunity Analysis and Industry Forecast, 2021- 2031″. According to the report, the global used bikes market generated $38.7 billion in 2021 and is anticipated to generate $66.2 billion by 2031, witnessing a CAGR of 5.6% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A09641

Asia-Pacific currently dominated the used bikes market in 2021. This was primarily due to the rise in fuel and new bike prices and the adoption of new technology in the used-motor vehicle industry. China has a propensity for producing and selling cutting-edge bicycles that are utilized for both everyday commuting and a variety of adventure-related activities. Meanwhile, there are many chances for the expansion of the used bike industry across the nation due to the presence of various local bike manufacturers who offer a wide selection of customized used bikes and modified used off-road motorbike products.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

𝐁𝐚𝐭𝐟𝐚 𝐉𝐚𝐩𝐚𝐧 𝐈𝐧𝐜., 𝐘𝐚𝐦𝐚𝐡𝐚 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐞𝐝 𝐏𝐫𝐞-𝐎𝐰𝐧𝐞𝐝, 𝐃𝐫𝐨𝐨𝐦, 𝐌𝐨𝐭𝐨𝐫𝐛𝐢𝐤𝐞𝐬 𝟒 𝐀𝐥𝐥, 𝐈𝐧𝐝𝐢𝐚 𝐊𝐚𝐰𝐚𝐬𝐚𝐤𝐢 𝐌𝐨𝐭𝐨𝐫𝐬 𝐏𝐯𝐭. 𝐋𝐭𝐝., 𝐌𝐨𝐭𝐨𝐡𝐮𝐧𝐭 𝐈𝐧𝐜., 𝐔𝐬𝐞𝐝 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞 𝐒𝐭𝐨𝐫𝐞 (𝐃𝐞𝐚𝐥𝐞𝐫 𝐒𝐩𝐢𝐤𝐞), 𝐓𝐫𝐢𝐮𝐦𝐩𝐡 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞𝐬, 𝐁𝐥𝐚𝐝𝐞 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞𝐬, 𝐌𝐮𝐧𝐝𝐢𝐦𝐨𝐭𝐨 𝐄𝐮𝐫𝐨𝐩𝐞 𝐒𝐋

Europe is the second largest market for the used bikes. The rise in popularity of motocross events and modification of used bikes for such events are expected to primarily drive the growth of the used bikes market in European countries. Other factors that drive the growth of the used bike market include modified used bikes, an increase in demand for electric bikes, and a rise in tourism activities. The U.K. is becoming one of the leading markets for used bikes in Europe owing to the independent nature of two wheels compared to public transport. In addition, in the past year, riding a motorcycle or scooter to work has grown in popularity. Moreover, the rise in presence of online platforms and used bike dealers to provide certified used bikes are expected to fuel the growth of the used bike market across the U.K. during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A09641

One major reason that is projected to contribute to a rise in the demand for used bikes produced locally during the forecast period is the increase in traffic congestion in both developed and developing countries. A range of motorcycle types, including ordinary bikes and scooters, have increased in quantity throughout time to meet the wants of varied clientele. Due to the lack of dependable public transportation, there has been a significant increase in the demand for motorcycles in rural areas as well. This is expected to accelerate the expansion of domestically produced bikes in the market for used bikes.

Prime determinants of growth

An increase in demand for two-wheeler due to traffic congestion, the high cost associated with new bikes, and the rise in internet-based sales drive the growth of the global used bikes market. However, the high risk of accidents restricts the market growth. Moreover, the increase in demand for bike taxi services and the rising adoption of electric motorcycles present new opportunities in the coming years.

Based on engine capacity, the 125 to 250cc segment held the highest market share in 2021, accounting for more than one-third of the global used bikes market, and is estimated to maintain its leadership status throughout the forecast period. Along with being affordable and fuel-efficient, the superior appearance of motorcycles in this market segment quickly grabs the attention of the consumer. These motorcycles’ minimal maintenance costs are another aspect of the market’s high demand for this segment. Moreover, 150cc to 200cc dirt bikes with two-stroke engines are typically utilized for off-road racing. Although two-stroke road motorcycles are no longer frequently produced, riders can still buy used bikes. Compared to a typical four-stroke engine, these engines provide more power, but they also require more maintenance. However, the electric drive segment is projected to manifest the highest CAGR of 19.2% from 2022 to 2031.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly half of the global used bikes market, and is likely to dominate the market during the forecast period. The growth of ride-hailing services or bike taxi services in the region is anticipated to propel the growth of the market across the region. One of the most practical modes of transportation, bike taxis allow users to request a vehicle via online platforms. Additionally, information on the driver and the passenger is transmitted when requesting transport, making ride-hailing services far safer than conventional taxi services. However, the LAMEA region is expected to witness the fastest CAGR of 6.2% from 2022 to 2031.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A09641

Based on the distribution channel, the C2C segment held the highest market share in 2021, accounting for more than half of the global used bikes market share, and is estimated to maintain its leadership status throughout the forecast period. Low pricing and easy transfer of documents are the factors that drive the growth of the segment. In addition, direct one-on-one interaction between the buyers and sellers is a major factor that creates scope opportunity for this segment in the used bikes market. However, the B2C segment is projected to manifest the highest CAGR of 6.0% from 2022 to 2031.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By distribution channel, the C2C segment is anticipated to exhibit significant growth in used bikes market in the near future..

By source, the domestically manufactured segment is anticipated to exhibit significant growth in used bikes market in the near future..

By engine capacity, the 125 to 250cc segment is anticipated to exhibit significant growth in used bikes market in the near future.

By Type, the standard segment is anticipated to exhibit significant growth in used bikes market in the near future..

By propulsion, the ICE segment is anticipated to exhibit significant growth in used bikes market in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Electric Bikes Market – https://www.alliedmarketresearch.com/electric-bikes-market

Electric Vehicle Market – https://www.alliedmarketresearch.com/electric-vehicle-market

Electric Vehicle Motor Market – https://www.alliedmarketresearch.com/electric-vehicle-motor-market

Electric Ships Market – https://www.alliedmarketresearch.com/electric-ships-market-A09173

David Correa
Allied Market Research
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