The global motorcycle rental market size reached US$ 207.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 411 Million by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028. The easy availability of a wide range of luxury motorbikes at affordable rental fees, the accelerating purchasing cost of luxury bikes and two-wheelers, and the development of energy-efficient e-bikes represent some of the key factors driving the market.
Motorcycle rental is a service that provides individuals with the opportunity to rent motorcycles for a set period and return them when their usage period is over. Bike stores and garages offer rental services usually on an hourly, daily, weekly, or sometimes monthly basis in addition to their main sales and service businesses. Renting motorcycles allows users to ride without the hassle and responsibilities associated with ownership. Additionally, numerous companies specialize in offering motorcycle rentals due to cost advantages. The main target audience for motorcycle rental is people without access to their own motorcycles, usually tourists or travelers. It is common for motorcycle rental businesses to operate near beaches, parks, or other locations that are popular with tourists. Also, motorcycle rental businesses cater to local people who want to explore new places, which is fueling the demand for the service.
Motorcycle Rental Market Trends:
The easy availability of a wide range of luxury motorbikes at affordable rental fees is a significant factor driving the growth of the market. This can be attributed to the accelerating purchasing cost of luxury bikes and two-wheelers. In line with this, the emerging trend of motorcycle tours across tourist destinations is providing an impetus to the market. The shifting preference of consumers toward rental services instead of buying due to the enhanced convenience and no maintenance is acting as another significant factor propelling the market. The rising popularity of numerous motorcycle racing activities across the globe is also impacting the market positively. Moreover, the increasing usage of online portals for reservations of trips and bookings is expected to provide lucrative growth opportunities in the market. Besides this, considerable expansion in the automotive industry resulting in the development of energy-efficient e-bikes is also resulting in a higher product uptake on the global level. Continual innovations, such as level 2 automation resulting in the integration of active safety systems and driver assistance by vehicle OEMs in motorcycles, is creating a positive outlook for the market. Some of the other factors contributing to the market include rapid urbanization, inflating disposable income levels, the growing millennial population taking up adventurous activities, and innovative marketing strategies adopted by major market players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global motorcycle rental market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, booking channel, and application.
- Luxury Motorcycle
- Common Motorcycle
The report has provided a detailed breakup and analysis of the motorcycle rental market based on the type. This includes luxury and common motorcycles. According to the report, common motorcycles represented the largest segment.
Booking Channel Insights:
A detailed breakup and analysis of the motorcycle rental market based on the booking channel has also been provided in the report. This includes websites and apps. According to the report, apps accounted for the largest market share.
- Motorcycle Tourism
A detailed breakup and analysis of the motorcycle rental market based on the application has also been provided in the report. This includes motorcycle tourism and commutes. According to the report, motorcycle tourism accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for motorcycle rental. Some of the factors driving the Asia Pacific motorcycle rental market include the rising popularity of numerous motorcycle racing activities across the region, the emerging trend of motorcycle tours across tourist destinations, and extensive research and development (R&D) in the manufacturing of energy-efficient e-bikes.
The report has also provided a comprehensive analysis of the competitive landscape in the global motorcycle rental market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Adriatic Moto Tours, EagleRider, Harley-Davidson Inc., MotoQuest, Motoroads, Rental 819 (Kizuki Rental Service), The Hertz Corporation, WickedRide Adventure Services Pvt. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
| Historical Period
||Type, Booking Channel, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Adriatic Moto Tours, EagleRider, Harley-Davidson Inc., MotoQuest, Motoroads, Rental 819 (Kizuki Rental Service), The Hertz Corporation, WickedRide Adventure Services Pvt. Ltd., etc.
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Key Questions Answered in This Report:
- How has the global motorcycle rental market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global motorcycle rental market?
- What are the key regional markets?
- Which countries represent the most attractive motorcycle rental markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the booking channel?
- What is the breakup of the market based on application?
- What is the competitive structure of the global motorcycle rental market?
- Who are the key players/companies in the global motorcycle rental market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the motorcycle rental market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global motorcycle rental market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the motorcycle rental industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.