Rapid growth in Motorcycle Rental Market driven by urban congestion and experiential travel
The Motorcycle Rental Market is on the rise, with a projected value of USD 693.46 million by 2032, fueled by a CAGR of 10.06%. Urban congestion and a preference for experiential travel are driving the trend, making rentals a popular choice for both transportation and recreation.
The U.S. motorcycle rental market is expected to reach USD 219.91 million by 2032, with a CAGR of 9.67%. Tourism, recreational riding, and flexible mobility options are driving steady growth, creating opportunities for rental service providers and fleet expansion.
Commuter motorcycles are dominating the market with over 58% share, offering practical, affordable transportation solutions for urban areas. On-road motorcycles hold over 68% market share, providing versatility and adaptability for paved roads and highways. The commuting segment leads with more than 54% share, as motorcycles become a preferred urban transportation option.
North America leads the Motorcycle Rental Market, holding a dominant position with over 42% market share in 2023. Strong demand from the U.S. and Canada, along with investments in technology and sustainability, contribute to the region’s growth. Meanwhile, the Asia-Pacific region is experiencing the fastest growth, driven by rising popularity in countries like India, Thailand, and Indonesia.
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Read more at GlobeNewswire: Motorcycle Rental Market to USD 693.46 Million by 2032,