LONDON--(BUSINESS WIRE)--The global super-sport motorcycle market is projected to grow to 0.9 million units by 2021, at a CAGR of nearly 11% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global super-sport motorcycle market for 2017-2021. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Super-sport motorcycles are racing motorcycles that are intended to be street legal by their manufacturers. These motorcycles are typically light and nimble and usually have full body plastic faring. The increasing number of racing events across various geographies are steadily improving the adoption rates of super-sport motorcycles.|
Technavio’s research study segments the global super-sport motorcycle market into the following regions:
Super-sport motorcycle market in Europe
“Europe dominated the super-sport motorcycle market in 2016, holding over 55% of the overall shares. Its total shares are expected to increase through the forecast period, driven by rising adoption to support the strong racing culture in the region,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive manufacturing research.
In 2016, France, Italy, Germany, Spain, and the UK were the leading revenue contributors to the super-sport motorcycle market in Europe. Premium sports motorcycle manufacturers such as BMW Motorrad, Ducati, MV Agusta, and Triumph are centered in the region, which also boosts the market growth.
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Super-sport motorcycle market in the Americas
The number of super-sport motorcycles in the Americas is expected to be over 220,000 by 2021. The US and Canada dominate the revenue generation for the market in the region, with baby boomers comprising the leading consumers for super-sport motorcycles. The increasing need for stability and comfort in these motorcycles are resulting in the launch of new vehicles to the market, creating new revenue streams. The presence of top vendors, such as Honda and Kawasaki, and a strong racing culture drives the adoption of motorcycles in the US.
Super-sport motorcycle market in APAC
“APAC is projected to showcase a CAGR of nearly 15% through the forecast period, establishing itself as the fastest-growing segment of the market. The emergence of favorable environmental factors, rising disposable incomes, and consumer pull will drive the growth of the market segment,” says Siddharth.
China and India dominate the super-sport motorcycle market in APAC. Japan, Australia, and New Zealand have been showing impressive adoption of these vehicles in the past few years, which has been attracting various players to these markets. Prominent racing series, such as All Japan Road Race Championship, are also significantly impacting the regional segment.
The top vendors in the global super-sport motorcycle market highlighted in the report are:
- Yamaha Motor Company
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