Used Bike Market Size, Share, Growth Analysis, By Distribution Channel(C2C (Consumer-to-consumer), and B2C (Business-to-consumer)), By Source(Domestically Manufactured and Imported Bikes), By Engine Capacity(50 to 125cc, 125 to 250cc, above 250cc, and Electric Drive), By Type(Standard, Sports, Cruiser, Mopeds), By Propulsion(ICE and Electric), By Region - Industry Forecast 2024-2031

Drivers

Driving Leisure and Tourism Activities

• The touring area often hosts group rides and other events that attract riders of all backgrounds and experience levels. These events provide venues for networking, sharing experiences and showcasing motorcycle designs. These events increase the interest in the use of touring bikes and inspire the love of traveling. Motorcycle enthusiasts who enjoy long journeys tend to look for specialized devices such as cruisers, sports tours, adventure touring and touring bikes. As a result, this bike continues to be in demand in the used bike market. The demand for these bikes is constantly increasing as more individuals take up touring as a leisure sport.

Increased Demand for Two Wheelers Due to Traffic Congestion

• One of the most pressing issues in growing cities around the world is the increase in traffic. Nowadays, because of how society operates, everyone must face traffic accidents during rush hour. There is no doubt that many timetables around the world have resulted in frequent traffic jams on existing highways. The worrying situation is that even though many solutions have been tried to reduce traffic congestion, there has not been much development in this area itself and every year the traffic deteriorates. Thus, increasing traffic congestion drives the demand for used bicycles in developing regions, thus feeding the global used bike market.

Restraints

Increased Cost Associated with a New Bike

• High cost associated with new bicycles is the major factor expected to drive the growth of the global used bike market. Sake prices sometimes go up. This is because of the nature of the industry. Many companies park their bikes in markets where they can make a big profit and keep their money flowing. Notably, the much cheaper bikes will not cover labor and supply costs. The components of motorcycles are a major reason why they are more expensive or more expensive than cars. Carbon fiber and other materials come in many shapes and forms, and the higher the quality of the carbon fiber, the more expensive it is. This also covers the cost of additional maintenance required during refrigerated storage and transport.

Limited Availability of Quality Used Bike

• One of the main challenges in the global used bike market is the limited availability of quality used bikes. Many potential buyers prefer to buy second-hand bikes due to budget constraints or durability concerns. But finding a used bike in good condition with a reliable service history can be difficult, reducing customer confidence and sales volume.