1. Global motorcycle brand market overview
1.1 Global motorcycle market size
According to market research data, the global motorcycle market will be approximately US$105 billion in 2023 and is expected to reach US$135 billion by 2028, with an average annual compound growth rate of approximately 4%. The Asian market is the world's largest motorcycle market, accounting for nearly 60% of global motorcycle sales.
1.2 Major motorcycle brands
- Japanese brands: such as Honda, Yamaha, Suzuki, Kawasaki, dominate the global market, especially in Asian and European markets.
- European brands: such as BMW, Ducati, and Triumph, known for their high-end and performance, with their main markets in Europe and North America.
- Indian brands: such as Bajaj, Hero and Royal Enfield, occupy important positions in the Indian and African markets.
- Chinese brands: such as Loncin, Lifan, CFMoto, Zongshen, Qianjiang, are gradually emerging in the Southeast Asian, African and Latin American markets.
2. Analysis of market size and opportunities in various countries
2.1 Asian market
2.1.1 India
India is the world's second largest motorcycle market, with annual sales exceeding 20 million units. The Indian market is price-sensitive, and demand is dominated by entry-level and mid-range motorcycles. Chinese brands can enter this market through price advantages and localization strategies.
2.1.2 Southeast Asia
In Southeast Asian countries such as Indonesia, Thailand and Vietnam, motorcycles are the main form of transportation. Annual sales in Indonesia are approximately 6 million vehicles, while those in Thailand and Vietnam are 3 million and 2.5 million respectively. Chinese brands can attract local consumers by offering cost-effective products and flexible financing options.
2.2 African market
The African market is growing rapidly and motorcycles are the main form of transportation in many countries. Nigeria, Kenya and Tanzania are the main markets. Chinese brands can quickly expand their market share by cooperating with local dealers and leveraging their market networks and sales channels.
2.3 South American market
In South American markets such as Brazil and Argentina, the motorcycle market is growing steadily. Annual sales in Brazil are approximately 1 million vehicles and in Argentina 500,000 vehicles. Chinese brands can meet local environmental regulations and consumer demands by introducing environmentally friendly motorcycles and electric motorcycles.
2.4 European market
The European market has greater demand for high-end and high-performance motorcycles. Germany, France and Italy are the main markets. Although the barriers to entry are high, Chinese brands can enter this market through acquisitions or cooperation and gradually improve their brand image and market share.
2.5 North American market
The North American market is dominated by high-end and recreational motorcycles, with the United States being the main market, with annual sales of approximately 500,000 vehicles. Chinese brands can meet the diverse needs of consumers by introducing cost-effective leisure motorcycles and electric motorcycles.
3. Chinese motorcycle brands’ overseas strategy
3.1 Product localization
Make product localization adjustments according to the needs of different markets. Targeting the price-sensitive market, we can provide cost-effective entry-level motorcycles. Targeting the high-end market, high-end models with superior performance and stylish designs can be launched.
3.2 Brand building
In the international market, we will strengthen brand building and enhance brand awareness and reputation. You can increase brand exposure and influence by participating in international motorcycle exhibitions and sponsoring events.
3.3 Sales channels
Cooperate with local dealers and agents to establish a complete sales and after-sales service network. The market can be rapidly expanded through the establishment of joint ventures, authorized dealers, etc.
3.4 Technological innovation
Continue to carry out technological innovation and improve product competitiveness. Especially in the field of electric motorcycles and intelligent connected motorcycles, we will improve the technical level and meet the market's demand for environmental protection and intelligence.
3.5 Financing and financial options
Provide flexible financing and financial solutions, such as installment payment, leasing, etc., to lower the threshold for consumers to purchase cars and increase market penetration.
4. Analysis of overseas opportunities
4.1 Asian market
Demand for motorcycles continues to grow in the Asian market, especially in India and Southeast Asian countries. The Indian market has a large demand for economical and mid-range motorcycles, and Chinese brands can enter this market through price advantages. There is a huge demand for motorcycles in the Southeast Asian market, and Chinese brands can attract consumers by providing cost-effective products.
4.2 African market
The number of motorcycles in the African market continues to increase, and there is a greater demand for motorcycles with high durability and cost-effectiveness. Chinese brands can quickly expand their market share by cooperating with local dealers to establish sales networks.
4.3 South American market
Demand for environmentally friendly and electric motorcycles is growing significantly in South America, especially in Brazil and Argentina. Chinese brands can meet local environmental regulations and consumer demands by introducing environmentally friendly and electric motorcycles.
4.4 European market
The European market has a large demand for high-end and high-performance motorcycles, and the barriers to entry are high. However, Chinese brands can enter this market through technical cooperation or acquisitions and gradually improve their brand image and market share.
4.5 North American market
The North American market is dominated by high-end and leisure motorcycles. Chinese brands can meet the diverse needs of consumers by introducing cost-effective leisure motorcycles and electric motorcycles.
5. Conclusion
Overall, Chinese motorcycle brands have huge development potential in the global market. Through product localization, brand building, sales channel expansion, technological innovation and providing flexible financing solutions, Chinese motorcycle brands can occupy an important position in the global market. By understanding market demands and opportunities and grasping market trends, Chinese motorcycle brands will usher in a brighter future. We hope this report can provide valuable reference for your strategic decision-making.
