Global Market Share Analysis of Motorcycle Industry

This page analyzes the global market share and market size of motorcycles and two-wheeler manufacturers. It also provides an overview and trends of the world’s leading motorcycle manufacturers such as Honda, Yamaha, Hero, Bajaj, Harley-Davidson, BMW and TVS Motor.

Global Motorcycle Market Share (Value Basis)

Using the motorcycle companies’ FY2020 sales as the numerator and the market size discussed below as the denominator, the global market share of the motorcycle industry in 2020 is calculated to be Honda in first place worldwide, Yamaha in second place, and Hero MotoCorp in third place.

Global market share of the motorcycle and bikes industry in terms of value in 2020

  • No.1 Honda 22.6%
  • No. 2 Yamaha 10.4%
  • No. 3 Hero MotoCorp 5.9%
  • No. 4 Bajaj 5.1%
  • No. 5 Harley-Davidson 4.4%
  • No. 6 BMW 3.7%
  • No. 7 TVS Motor 3.1%
  • No. 8 Suzuki 2.6%
  • No. 9 Kawasaki Heavy Industries 2.3%
  • No. 10 Piaggio 2.1%
  • No. 11 KTM 1.8%
  • No. 12 Ducati 1.1%
  • No. 13 Roncin Motor 0.8%
  • No. 14 LEE FANG 0.7%
Global Motorcycle Market Share (Value Basis, 2020)
Global Motorcycle Market Share (Value Basis, 2020)

In the year 2020, Honda continues to dominate and hold the number one position, with Yamaha in second place and the Japanese dominating the first and second positions.In third and fourth place, the Indian heroes Motocorp and Bajaj finally overtook Harley-Davidson of the U.S.A., which boasts of its deep-rooted popularity not only in terms of volume but also in terms of value, and in sixth place is BMW, which operates under the Motrad brand. However, after World War II, Japanese motorcycle manufacturers began to break down the stronghold of European and American motorcycle manufacturers. Now, the focus has shifted to the competition between the emerging Indian motorcycle manufacturers and the Japanese. Chinese manufacturers such as Long Xin Motor and Li Fan are also gaining ground.

Global motorcycle market share (volume basis)

An analysis of the top six positions, using the sales volume of each motorcycle manufacturer in FY2020 as the numerator and the market size as the denominator, shows that three of the top six companies are from India.

Global market share of the motorcycle and bikes industry in terms of volume in 2020

  • No. 1 Honda 18.2%
  • No. 2 Hero MotoCorp 10.3%
  • No. 3 Bajaj 7.0%
  • No. 4 Yamaha 6.7%
  • No. 5 TVS Motor 5.8%
  • No. 6 Suzuki 2.7%
Global market share of the motorcycle and bikes industry in terms of volume in 2020
Global market share of the motorcycle and bikes industry in terms of volume in 2020

Market size of the motorcycle industry

DEALLAB estimates the 2020 global market size of the motorcycle and bikes industry to be $74.35 billion. The data used for reference is as follows. According to the research firm Business Research Company, the market size of this industry in 2020 is $74.35 billion, with a CAGR of 3.63% from 2015, and is expected to grow at 8.09% through 2025. According to research firm Techsci Research, the market will be worth $98 billion in 2019. According to the research firm Motorcycle Data, the motorcycle industry will sell 56.5 million units in 2020, a decrease of 9 million units (-14%) from 2019. In terms of operating numbers, it is estimated to be around 300 million units.

Classification of motorcycles

In the classification of motorcycles, engine displacements of less than 125cc are called small motorcycles, while engine displacements of 125cc or more are called medium or large motorcycles. It is said that small motorcycles account for more than 95% of total sales.

Merger and Acquisitions

M&As among motorcycle manufacturers are not very active. The sales multiples of transactions are generally one to two times.

2011 Hero acquires stake in joint venture from Honda
2012 Audi acquires Ducati from an investment fund

Motorcycle industry transaction multiples (sales multiples)

Japan Motorcycles Top 4

Honda

Honda is a Japanese automobile and motorcycle manufacturer founded in 1948 by Soichiro Honda. It is the world's leading manufacturer of passenger cars and the world's largest motorcycle manufacturer. The company is also involved in the development of boat engines, lawn mowers and other gardening equipment, the HondaJet luxury aircraft, sales finance, and humanoid robots (ASIMO).

Yamaha

Yamaha was founded in 1955 and is one of Japan's leading manufacturers of transportation equipment. It is a sister company of Yamaha Corporation, a manufacturer of musical instruments. The company's products include motorcycles, leisure boats, off-road vehicles, snow vehicles, electrically power assisted bicycles, golf carts, and a wide range of other transportation equipment.

Suzuki Motor

Suzuki’s strength lies in mini cars and motorcycles. It has an overwhelming presence in the Indian four-wheel market.

Kawasaki Heavy Industries

Kawasaki Heavy Industries is one of Japan's leading manufacturers of space defense and heavy electric machinery, with its origins in the Kawasaki Tsukiji Shipyard, established in 1896 by Shozo Kawasaki with the support of Masayoshi Matsukata. In addition to Kawasaki Shipbuilding (Kawasaki Heavy Industries), Kawasaki Kisen and Kawasaki Steel (JFE) belonged to the prewar Kobe Kawasaki Zaibatsu. The company has an excellent reputation for training engineers. Today, Kawasaki develops and manufactures general-purpose engines for defense, aero engines, rolling stock, plants, hydraulic equipment, industrial robots for welding and silicon ware transport, shipbuilding, medium and large motorcycles, off-road four-wheelers, personal watercraft (marketed under the Jet Ski trademark), and agricultural machinery.

India’s top three motorcycle manufacturers

Hero MotoCorp.

Founded in 1984, Hero MotoCorp is one of the largest motorcycle manufacturers in India. The company grew with technology licensed from Honda, but dissolved its joint venture with Honda in 2010.

Bajaj Auto (Bajaj)

The core of the Bajaj conglomerate. It grew up with technology licensed from Kawasaki Heavy Industries of Japan.

TVS motor

Founded by Sundaram Iyengar in 1982, TVS Motor is a major motorcycle manufacturer in India. It has grown through technology licensing from Suzuki and is close to BMW.

China’s leading motorcycle manufacturers

Grand River Haojue Group Australian Precision Machinery Co.

A Chinese autobar manufacturer. The company produces Suzuki motorcycles on an OEM basis.

Chongqing Longxin Motorcycle (Loncin Holding)

A Chongqing-based motorcycle manufacturer that produces BMW motorcycles on an OEM basis and Loncin brand motorcycles. The company also produces motorcycle engines, agricultural machinery, and landscaping equipment.

Lifan Group (Lifan)

A Chongqing-based manufacturer of automobiles and motorcycles, operating under the Lifan brand.

European and US Motorcycle Manufacturers

Piaggio

Piaggio is a motorcycle manufacturer based in Italy. It is famous for its Vespa series. In terms of sales by region, approximately 50% of sales in fiscal 2019 are in Europe and the United States, but approximately 30% of sales are in India.

Harley-Davidson

Harley-Davidson is a large motorcycle manufacturer based in the United States. It is nicknamed “Harley.

BMW Motorrad (BMW Motorrad)

Founded in 1916 as an aircraft engine manufacturer, BMW is now a German luxury automobile manufacturer, operating worldwide under the BMW Motorrad brands of BMW, MINI, Rolls-Royce, and motorcycles. Rolls-Royce and MINI became part of BMW in 1998 and 1994, respectively. Motorrad is a large motorcycle manufacturer that has been in business since 1923. It is also involved in automobile leasing and operates under Alphabet. It is also a leader in electric vehicles (EVs).

Ducati

Ducati is a luxury motorcycle manufacturer based in Italy, which was acquired by Audi and is now part of the Volkswagen Group.

KTM

KTM is a motorcycle manufacturer based in Austria. The company specializes in off-road motorcycles.

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