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

Report ID: SQMIG25A2241 | Region: Global | Published Date: April, 2024
Pages: 221 | Tables: 142 | Figures: 76

Used Bike Market News

In May 2022, Yamaha will launch a pre-certified platform to ensure the quality of used bikes. The new pre-owned leased platform provides customers with a ‘one stop shop’ for approved used Yamaha motorcycles or scooters, where customers can find all UK franchised dealerships in one place.

In February 2022, Mundimoto raised $22.6 million to expand his portfolio beyond his native Spain and into Europe, starting with Italy and Holland. Mundimoto is an online motorcycle buying and selling startup. It plans to hire 50 engineers and 250 additional employees to advance the technology product and support international expansion.

In October 2021, Triumph launched its Total Care program encompassing a range of services and products. The overall care umbrella covers the range of services offered by Triumph, from online service booking and extended warranty (EW) to RSA, service packages, and the condition & history of their selected used bikes.

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Used Bike Market size was valued at USD 39.18 Billion in 2022 and is poised to grow from USD 41.74 Billion in 2023 to USD 69.06 Billion by 2031, growing at a CAGR of 6.50% in the forecast period (2024-2031).

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the used bike industry to benefit clients and increase the market sector. In recent years, the used bike industry has offered some of the most significant advantages to medicine. Major players in the used bike market, including Motohunt Inc., Motorbikes 4 All, Batfa Japan Inc., Triumph Motorcycles, Used Motorcycle Store (Dealer Spike), Mundimoto Europe SL, Yamaha Certified Pre-Owned, India Kawasaki Motors Pvt. Ltd., Droom, Blade Motorcycles, are attempting to increase market demand by investing in research and development operations. 'Yamaha Certified Pre-Owned.', 'Used Motorcycle Store. Com (Dealer Spike)', 'Triumph Motorcycles', 'Mundimoto Europe SL', 'Motorbikes4All', 'Motohunt Inc.', 'Droom, India Kawasaki Motors Pvt. Ltd.', 'Blade Motorcycles', 'Bafta Japan Inc.', 'Mahindra & Mahindra', 'Pedego Electric Bikes', 'Haibike', 'M1 Sporttechnik', 'Easy Motion Electric Bikes', 'Yamaha Motor Corporation', 'Prodecotech', 'Stealth Electric Bikes', 'F.I.V.E. Bianchi'

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.

Rise in the Shift Towards Sustainable Transportation: A key characteristic of the environmental perspective and urban movement and seasonal sequences increases in permanent transportation solutions related to the environmental perspective as in wind waste, carbon, landfills, cars and boxers, and the environmental choices consumers make in various contexts. The shift towards sustainable transport is driven by government initiatives aimed at encouraging bicycle schemes, bike sharing programs and environmentally friendly modes of transportation has become easy to find bicycle parking , which has helped the market growth as sustainability continues to be a driving force behind consumer behavior, the used bike market is expected to witness a steady expansion in the future without a background.

By 2022, this market will be dominated by the North America region in the used bike market (45.80%). The demand for affordable modes of transportation, increasing urbanization and growing interest in sustainable transportation are the main drivers of bicycle adoption in North America. Since then, the U.S. used bike market holds the largest market share, and the Canadian market is the fastest growing market in North America region. North America, the used bike market reflects a strong cycling culture and a strong emphasis on sustainable transportation. The United States and Canada demonstrate a demand for cheaper and more environmentally friendly commuting options. Urban development and a focus on health and fitness are contributing to the popularity of cycling, and the region’s well-established cycling enthusiast community supports the used bike market as it is developing.

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