Motorcycle Rental Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41093

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The motorcycle rental market size has the potential to grow by USD 168.02 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (commuter motorcycles and luxury motorcycles) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bashar Technologies Pvt. Ltd. (Wheelstreet), Dubbelju Motorcycle Rentals LLC, Harley-Davidson Inc., JC Bromac Corp. (EagleRider), Kizuki Co. Ltd. (Kizuki Rental Service), MotoQuest, MOTOROADS Sole Trade Ltd., Polaris Inc. (Motorcycle International LLC), SMTOURS d.o.o. (Adriatic Moto Tours), and The Herrtz Corp. (Hertz Ride).

What will be the Motorcycle Rental Market Size in 2020?

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Who are the Major Motorcycle Rental Vendors?

The market is fragmented. MotoQuest, MOTOROADS Sole Trade Ltd., Polaris Inc. (Motorcycle International LLC), SMTOURS d.o.o. (Adriatic Moto Tours), and The Herrtz Corp. (Hertz Ride) are some of the major market participants. Most of the vendors are investing in R&D and entering strategic partnerships. Although the increasing congestion and overcrowding in cities will offer immense growth opportunities, the prevalence of bicycle rentals and sales will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this motorcycle rental market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this motorcycle rental market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Bashar Technologies Pvt. Ltd. (Wheelstreet)
  • Dubbelju Motorcycle Rentals LLC
  • Harley-Davidson Inc.
  • JC Bromac Corp. (EagleRider)
  • Kizuki Co. Ltd. (Kizuki Rental Service)
  • MotoQuest
  • MOTOROADS Sole Trade Ltd.
  • Polaris Inc. (Motorcycle International LLC)
  • SMTOURS d.o.o. (Adriatic Moto Tours)
  • The Herrtz Corp. (Hertz Ride)

Which are the Key Markets for Motorcycle Rental?

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APAC will offer several growth opportunities to market vendors during the forecast period. The increasing purchase of luxury motorcycles owing to the growing disposable income, the rising popularity of motorcycle touring, and the high penetration of luxury motorcycles will significantly influence motorcycle rental market growth in this region.

Over 36% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for motorcycle rentals in APAC. Market growth in this region will be faster than the growth of the market in other regions.

What are the Major Product Segments in the Motorcycle Rental Market?

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Motorcycles in the commuter segment mainly consist of scooters and motorcycles, which are priced significantly lower than the luxury models. Many congested urban cities in developing regions are witnessing increased penetration of commuter motorcycles due to their ease of traveling and last-mile connectivity in high-traffic conditions.

The motorcycle rental market share growth by the commuter motorcycles segment will be faster than the growth of the market by the luxury motorcycles segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the motorcycle rental market size.

How will Congestion and Overcrowding in Cities Influence Motorcycle Rental Market Growth?

The increasing traffic congestions is one of the major challenges for large and metropolitan cities across the globe. Developing countries are primarily facing traffic congestions owing to a lack of proper road infrastructure, growing economic conditions, and higher disposable income. Consequently, India and China are the largest markets for commuter motorcycles in the superbike rental market. Technavio’s market study identifies the increasing congestion and overcrowding in cities as one of the primary factors for the motorcycle rental market growth. The lack of parking space and increasing traffic congestions are driving consumers to rent motorcycles. Moreover, motorcycle rentals are affordable and convenient to use. Our market analysts estimate that the market will register a CAGR of almost 10% by 2024.

Motorcycle rental operators are steadily incorporating technology to enhance consumer experience and strategize their market operations. The increasing dependency on technology is supported by the high penetration of internet and smartphone users, one of the key motorcycle rental market trends. Rental companies in the superbike rental market are adopting digital platforms such as mobile-based apps and online websites for business and advertisement. Also, to enhance consumer convenience, operators are upgrading the features and updating mobile apps. The growing dependence of suppliers on technology to increase customer base will significantly influence market growth.

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What are the Key Factors Covered in this Motorcycle Rental Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive motorcycle rental market growth during the next five years
  • Precise estimation of the motorcycle rental market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the motorcycle rental industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of motorcycle rental market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The motorcycle rental market growth will increase by $168.02 million during 2019-2024.
The motorcycle rental market is expected to grow at a CAGR of 9.67% during 2019-2024.
Technavio has segmented the motorcycle rental market by product (Commuter motorcycles and Luxury motorcycles) and geographic (North America, APAC, Europe, and South America).
Bashar Technologies Pvt. Ltd. (Wheelstreet), Dubbelju Motorcycle Rentals LLC, Harley-Davidson Inc., JC Bromac Corp. (EagleRider), Kizuki Co. Ltd. (Kizuki Rental Service), MotoQuest, MOTOROADS Sole Trade Ltd., Polaris Inc. (Motorcycle International LLC), SMTOURS d.o.o. (Adriatic Moto Tours), The Herrtz Corp. (Hertz Ride) are a few of the key vendors in the motorcycle rental market.
APAC will register the highest growth rate of 37.59% among the other regions. Therefore, the motorcycle rental market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the motorcycle rental market growth are:
  • Increase in road-trip tourism
The motorcycle rental market vendors should focus on grabbing business opportunities from the commuter motorcycles segment as it accounted for the largest market share in the base year.
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