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In a used bike market which is characterised by dynamism, companies employ numerous market share positioning strategies which help them to retain and boost their positions within the industry. One of the most widely used strategies is "cost leadership" where businesses aim at being priced lower than their competitors. This can attract customers hunting for a good bargain and later on the company is regarded as a cheap competitor. Nevertheless, being a cost leader generally necessitates lean production along with supplier negotiations and planning the logistics in an economical manner to keep the costs at a minimum.
The third approach is differentiation, where the used bike companies are trying to establish their bikes with a difference in quality, features or the branding. Marketers highlight the aspects like resilience and design or unique agreements with world-famous brands in order to make the product more appreciated and so its value is higher. This strategy aims at the consumers who may not mind paying a premium for the features they value.
In the used bike market as well being such as niche segments too plays a big role. Firms could decide to concentrate on a specific kind of bikes, for example, retro bikes, top performance bikes or e-bikes. This is beneficial for them because they can actually satisfy a community that is distinct in its preferences. Positioning one’s brand in the niche provides the base to create a loyal audience and moderating the effects deriving from the competition in wider markets.
Moreover, geographical or regional placement is a key factor to determine success in the used bike market. Firms may decide to focus their business in locations with particular demographic characteristics, climate or favourable to their product on culture. Knowing the peculiarities of the local region is a necessary step for businesses to adapt their product and marketing approaches to the local inhabitants. Through such a localized commitment, you can foster deeper customer connection, as well as build a real brand loyalty.
Moreover, some businesses tend to impose a customer-focused policy by furnishing quality services, warranty programs, or customer loyalty benefits. By striving for customer retention, businesses target ongoing connections and loyal customers who come back. The development of positive word-of-mouth, as well as customer reviews that are written in a positive manner become strategic in this plan and create a brand that is attractive to potential buyers.
The collaborative approach also involves that companies work together through partnerships, joint ventures, or alliances. They would need partners like dealerships, repair shops or online platform so that their customer reach is multifaceted and they are able to provide complete solution to the customer. Such cooperations can help in creating a bigger network, higher visibility, and competitive edge in the small used bikes market niche.
Used Bike Market Highlights:
Used bikes Market Overview:
The used bike market industry is projected to grow from USD 41.74 Billion in 2023 to USD 69.09 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2024 - 2032). Used Bike Market Size was valued at USD 39.2 Billion in 2022. Economic Factors, Sustainability and Environmental Concerns, Urbanization, Recreational and Touring Activities, Affordable Mobility Options, bike upgrades and Customization, Bike rental businesses are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Used bikes Market Trends
Recreational and Touring Activities is driving the market growth
The touring community frequently hosts group rides and other events that draw riders with all backgrounds and degrees of experience. These gatherings provide venues for networking, experience sharing, and showcasing various motorcycles makes. These events increase interest in used touring bikes and inspire a love of traveling.Motorcycle aficionados who enjoy long trips frequently look for specialized models like cruisers, sport-touring, adventure-touring, and touring bikes. As a result, these bikes are consistently in demand on the used bike market. The demand for these bikes continues to increase as more individuals take up touring as a leisure pastime.Due to their comfort and endurance, touring motorcycles are desirable options on the used bike market. These bikes typically maintain their value well because of their dependability. This encourages more purchasers to look into secondhand touring bikes as a practical way to get started in the touring industry.
A rise in interest in adventure and experiencing travel has contributed to the popularity of touring activities in recent years. The market for secondhand bikes grows as more individuals come to appreciate the fun of long-distance motorcycle touring and to accommodate newcomers looking for accessible solutions for their journeys.In order to modify their bikes for long-distance journeys, touring aficionados frequently spend money on aftermarket improvements and accessories. As a result, both buyers and sellers profit from the growing secondary market for secondhand components and accessories. The need for these aftermarket equipment rises as more riders start touring.Some cyclists might choose used bikes over new ones in order to lower their carbon footprint due to growing environmental concerns. Riders can extend a vehicle's lifecycle by buying a used touring motorcycle, which lessens the demand for new manufacturing and the ensuing environmental impact. Thus, the used bike market revenue.
Used bikes Market Segment Insights:
Used bikes Distribution channel Insights
The Used Bike Market segmentation, based on Distribution channel includes B2C and C2C. The B2C segment dominated the market revenue. Better suited to local or regional marketplaces where customers can see and ride the bikes in-person before buying.
Used bike Source Insights
The Used Bike Market segmentation, based on Source, includes Domestically Manufactured, Imported Bikes. The Imported Bikes category generated the most income. Imported bikes are frequently more desirable to enthusiasts and serious riders due to their advanced features, cutting-edge technology, and superior construction.
Used bike Engine capacity Insights
The Used Bike Market segmentation, based on Engine capacity, includes 50 to 125cc, 125 to 250cc, above 250cc and Electric Drive. The 125 to 250cc category generated the most income. Wide variety of riders are drawn to these bikes since they are adaptable and can handle both city commutes and sporadic highway journeys.
Used bike Type Insights
The Used Bike Market segmentation, based on Type, includes Standard, Sports, Cruiser bikes, Mopeds and Others. The Sports category generated the most income. Some sports bike models, particularly those that are limited-edition or vintage, can increase in value over time, luring investors and collectors.
Used bikes Propulsion Insights
The Used Bike Market segmentation, based on Propulsion, includes ICE and Electric. The ICE category generated the most income. Compared to electric bikes, ICE motorcycles are typically less expensive to acquire and maintain, enticing purchasers on a tight budget.
Figure 1: Used Bike Market by Distribution channel, 2024 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Used bike Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Used bike Market dominated this market in 2022 (45.80%). The demand for affordable commuting options, rising urbanization, and a growing interest in sustainable transportation options are the main factors driving the secondhand bike industry in North America. Additionally, the convenience of online marketplaces and the rising appeal of recreational riding have helped this sector flourish in the area. Further, the U.S. Used bike market held the largest market share, and the Canada Armor Materials market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Used Bike Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe used bike market accounts for the second-largest market share. A number of factors, such as a strong focus on environmentally friendly transportation, well-established cycling infrastructure, and a rising understanding of the health and fitness advantages of biking, are driving the secondhand bike industry in Europe. Because of the region's dedication to sustainability, urban congestion, and the practicality of internet markets, there is a healthy market for used bicycles across the continent. Further, the German used bike market held the largest market share, and the UK used bike market was the fastest growing market in the European region
The Asia-Pacific Used bike Market is expected to grow at the fastest CAGR from 2024 to 2032. There are many elements that influence the secondhand bike market in Asia-Pacific. Demand for economical and effective transportation options has increased as a result of rapid urbanization and congested city streets. Bicycle use has increased as a result of rising health and fitness awareness as well as environmental concerns. The availability of internet marketplaces for buying and selling old bikes has also been crucial to the expansion of the business in the area. Moreover, China’s used bike market held the largest market share, and the Indian used bike market was the fastest growing market in the Asia-Pacific region.
Used bike Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the used bike market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, used bike industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global used bike industry to benefit clients and increase the market sector. In recent years, the used bike industry has offered some of the most significant advantages to medicine. Major players in the used bike market, including Motohunt Inc., Motorbikes 4 All, Batfa Japan Inc., Triumph Motorcycles, Used Motorcycle Store (Dealer Spike), Mundimoto Europe SL, Yamaha Certified Pre-Owned, India Kawasaki Motors Pvt. Ltd., Droom, Blade Motorcycles, are attempting to increase market demand by investing in research and development operations.
Mundimoto Europe SL, Owner of a company that sells motorcycles online with the goal of revolutionizing the motorcycle purchasing process. The company helps customers search, finance, and buy a variety of motorcycles through their mobile devices by offering online offers and details, reconditioned vehicles, payment options, home delivery services, motorcycle modification, and more.
Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American firm founded in 1845 that has been inventing, manufacturing, and distributing a wide range of products. Brunswick now employs over 13,000 people in 24 countries. Among the various boating brands owned by Brunswick are Sea Ray, Boston Whaler, Bayliner, Mercury Marine, Attwood, Lund, Crestliner, Mastervolt, MotorGuide, Harris Pontoons, Freedom Boat Club, Princecraft, Heyday, Lowe, Uttern, Quicksilver, and CZone. In June 2019, A partnership agreement was inked between BRUNSWICK Company and VIR zoom to launch a product called VIR zoom solution. This collaboration, if correctly executed, was expected to transform Life Fitness' se3 explore bikes into a virtual reality experience.
Key Companies in the used bikes market include
- Motohunt Inc.
- Motorbikes 4 All
- Batfa Japan Inc.
- Triumph Motorcycles
- Used Motorcycle Store (Dealer Spike)
- Mundimoto Europe SL
- Yamaha Certified Pre-Owned
- India Kawasaki Motors Pvt. Ltd.
- Droom
- Blade Motorcycles
Used Bikes Market Industry Developments
3 JUNE 2024 : Forestry Land Scotland's deer control contractor Colin Sloss moved to a Yamaha ATV because of improvements in build quality and safety. Across a wide swath from Campbeltown to Fort William, the primary ATV utilized for deer management operations is the Kodiak 700 EPS. Colin Sloss, a deer control contractor for Forestry Land Scotland, realized he needed a bike that offered improved safety and build quality after 15 years of faithfulness to a competing brand. He decided it was time to "take a punt" on a Yamaha ATV.
It is the best decision I have ever made, to be honest. When I bought my first two bikes a few years ago, a Kodiak 450 and Kodiak 700 EPS, I did not think I would ever switch from the brand I had before, but I would not look back."
Colin recently traded in his Yamaha Kodiak 700 for a newer model, having bought both of his ATVs more than two years ago. Colin's father uses the Yamaha 450 Kodiak primarily, and the primary ATV used for deer management operations in Colin's business is replaced by the Kodiak 700. The ATV is always in high demand and is used extensively throughout the year due to the large area it covers and the fact that work requires Colin and his seven-person team to travel from Campbeltown to the other side of Fort William, including Mull.
Used bike Market Segmentation:
Used bikes Distribution channel Outlook
- B2C
- C2C
Used bikes Source Outlook
- Domestically Manufactured
- Imported Bikes
Used bikes Engine capacity Outlook
- 50 to 125cc
- 125 to 250cc
- Above 250cc
- Electric Drive
Used bikes Type Outlook
- Standard
- Sports
- Cruiser bikes
- Mopeds
- Others
Used bikes Propulsion Outlook
- ICE
- Electric
Used bike Regional Outlook
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
Rest of the World
-
Middle East
-
Africa
-
Latin America
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