Published Date : Jan 09, 2017
ALBANY, NY, Jan 09, 2017: The 58-page research study, titled “Global Motorcycle Rental Market 2016-2020,” offers a detailed reports, presenting insights into the key factors that are projected to determine the development of the market in the forecast period. As per the study, the global market for motorcycle rentals is estimated to register a 5.0% CAGR between 2016 and 2020.
The growing number of motorcycle tourer events and communities and the rising traffic congestion in most of the overcrowded cities are some of the major factors estimated to fuel the growth of the global motorcycle rental market in the next few years. On the other hand, a substantial rise in on-demand taxi operators, the rise in bicycle and electric rentals, and the rise in ride-sharing services in India and Europe are estimated to restrict the growth of the overall market in the next few years. Nevertheless, the expansion of product portfolio and the rising number of partnerships are expected to generate potential opportunities for the key players in the market.
On the basis of application, the global motorcycle rental market has been categorized into luxury and commuter. As per the research study, the luxury segment is anticipated to lead the global motorcycle rental market in the coming years. The high level of comfort offered by the luxury motorcycle in comparison with the others is the key factor fuelling the growth of this segment. The rising preference to rent a luxury motorcycle is considerably high as customers get a chance to enjoy the ride without actually facing any financial constraint of possessing such a costly motorcycle.
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From a geographical viewpoint, the global market for motorcycle rentals can be categorized on the basis of geography into the U.S., India, and Europe. In 2015, Europe led the global motorcycle rental market and accounted for a key share. This region is projected to remain in the leading position throughout the forecast period, followed by the U.S. A significant increase in the number of foreign and domestic tourist inflow is one of the important factors anticipated to encourage the growth of the motorcycle rental market in Europe. In addition, the rise in the road trip tourism in this region is estimated to accelerate the growth of the market in the coming years.
At present, the global motorcycle rental market is extremely competitive in nature, thanks to the presence of a large number of players operating in it. With the mounting number of players entering the market, the market is projected to witness stiff competition throughout the forecast period. In addition, the growing focus on research and development activities and the expansion of product portfolio are some of the factors expected to encourage the growth of the market in the next few years. Some of the key players operating in the motorcycle rental market across the globe are Adriatic Moto Tours, Wicked Ride, Motoroads, WheelStreet, and EagleRider.
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