Market Research Reports, Inc, a kind of market research aggregator originally from India and based in Lewes, Delaware, drew my eye with MOTORCYCLE INDUSTRY CURRENT TRENDS report. This summary is intended to give you an idea of what the report, which will typically cost you something like US$3500, contains. Read it and, as they say, weep.
Motorcycles industry comprises companies that manufacture motorcycles. Motorcycles are two wheeler vehicles used for transportation. Motorcycles are equipped with engines that run on fuels such as petrol, diesel and LPG. Motorcycles primarily require petrol to run. Motorcycle manufacturers across the globe have evolved from manufacturing bicycles to fully functional high quality, fast engines equipped motorcycles. Companies that manufacture motorcycles are into designing, manufacturing, testing and maintenance of the motorcycles.
That’s the introduction. Here is the summary.
Motorcycles are the convenient mode of transportation. Motorcycle companies that have established themselves in the market are seeing many competitors. Being a creative field, motorcycle industry offers new opportunities for growth and innovation. There is a culture of motorcyclists increasing in number and forming groups in various parts of the world; to celebrate and to bring together the same brand motorbike owners and enthusiasts to single platforms.
In global environment awareness campaigns, the major concerns such as carbon emissions are taken into serious considerations; for that there are new entrants of electric powered scooters introduced. Electric scooters run on batteries and can clock a good distance with full recharge. Motorcycles being a lot heavier and need extreme power for running use engines that help covering long distances. Motorcycle industry along with the help of NGOs and government incorporates changes that are an additional beneficial factor.
Cutting down on weight of the vehicles is of top priority for many manufacturers as it helps in achieving efficient running and allows customer in comfortable and economical spending on the motorcycles. Motorcycles are gaining importance in terms of primary mode of transport across the world. Already established brands strategize and market aggressively in retaining customer loyalty. Companies that have already enjoyed successful campaigns benefit enormously for the engagement with the prospective customer they have developed over marketing. With introducing new segments for various demographics, various age groups with variety of motorcycles models, companies are gaining incredibly. Motorcycle industry gains revenues up to billions of dollars per year with the prediction of increased CAGR every year. US alone includes more than 70 companies that are established and are going strong and China’s market’s hopes of improving the development of motorcycle manufacturing industry to be driven by domestic and international usage in the last couple of years. Indian motorcycle industry however is fluctuating between economic slowdown and introduction of premium vehicles; the market in India being very prospective growth worthy for premium motorcycle manufacturers, the graph is steadily improving and scaling higher. As compared to the motorcycle market in India five years ago, there has been a rapid growth with introduction of new models and new brands.
Well, at least that much is free. If it were not as risible as it is, this would be a serious worry. Please note that I am not making fun of the dubious English. What I am doing, though, is pointing out just how appalling the standard of industry research reports is. Mrs Bear, my dearly beloved spouse, was an industry analyst for some years and she would be horrified by the slipshod approach of the above.
The important thing is that this report from June 2020 is so appallingly inaccurate. The comments about electric as opposed to internal combustion bikes are just nonsense, but that’s just one thing. So, if you’ve wondered why the motorcycle industry has pursued some of the directions it has, perhaps the answer is here. They’ve been buying these reports!
I don’t know, maybe common sense should make a return to the motorcycle industry? Yeah, I know. Your chance, and Buckley’s. That’s an Australianism that means – no chance at all.