Motorcycle Rental Market Size, Share & Trends Analysis Report By Product (Commuter, Luxury), By Type (Off Road, On Road), By Application (Tourism, Commute), By Region And Segment Forecasts, 2024 - 2030

Motorcycle Rental Market Size & Trends

The global motorcycle rental market size was estimated at USD 354.4 million in 2023 and is projected to reach USD 701.4 million by 2030, growing at a CAGR of 10.5% from 2024 to 2030. Rising traffic congestion in large cities worldwide is becoming a primary market driver, encouraging more people to turn to commuter motorcycles as a reliable way to navigate urban areas.

Furthermore, with environmental concerns and rising consciousness pertaining to air pollution and its adverse effects on health, there is a noticeable trend toward electric vehicles among rental customers. Key players are also endeavoring in the electric vehicle segment, transitioning from conventional petrol motorcycles.

Social media has emerged as a significant tool for influencing adventure travelers, amplifying trends in the market for adventure motorcycle rental. The demand for off-road motorcycles and luxury brand rental motorcycles are emerging segments in the market.

The demand for off-road motorcycle travel has been experiencing a notable rise owing to demographic shifts, technological advancements, and changing travel preferences. Modern off-road motorcycles offer a more reliable and comfortable experience that is completely equipped with technology that enhances the riding experience.

Drivers, Opportunities & Restraints

The rising popularity of motorcycle tourism is significantly driving the market's growth over the forecast period.Motorcycle tourism has emerged as a popular trend among travelers seeking adventurous and unique experiences. The desire to explore scenic landscapes and the thrill of riding has boosted the demand for motorcycle rentals globally.

The many challenges faced by urban mobility due to land restrictions and the immense increase in daily commuters are also positively shifting preference toward commuter motorcycle rental. Rental services cater to urban mobility needs by offering flexible, cost-effective solutions for city dwellers and tourists who prefer not to invest in ownership.

Moreover, technology has played a significant role in the market's growth, from the development of user-friendly mobile applications that simplify the rental process to the integration of GPS and other tracking technologies that enhance renters' safety and experience.

Product Insights

“The demand for luxury motorcycle product segment is expected to grow at a significant CAGR of 10.9% from 2024 to 2030 in terms of revenue.”

The commuter motorcycles segment led the market and accounted for 63.17% of the global revenue share in 2023. This segment includes the most common types available for rent. These bikes are versatile, easy to ride, and suitable for various road conditions. Commuter motorcycles are primarily designed for daily travel, offering efficiency, affordability, and ease of navigation in urban environments.

The luxury motorcycle segment is anticipated to grow at a significant CAGR of 10.9% over the forecast period. High-end models from brands like Harley-Davidson, BMW, and Ducati cater to enthusiasts and experienced riders looking for premium experiences. Rentals in this segment are often more expensive but attract customers seeking premium performance, comfort, and style for long rides or special occasions.

Type Insights

“The demand for off road type segment is expected to grow at a significant CAGR of 11.3% from 2024 to 2030 in terms of revenue.”

The on road segment led the market and accounted for 63.10% of the global revenue share in 2023. The on-road vehicle segment of the market is characterized by its diversity in vehicle offerings and customer needs. The growth in the on road segment is attributed to the trends in tourism, urban mobility, and technological advancements.

The off road type segment is expected to witness growth of 11.3% over the forecast period. The increasing interest in adventure tourism, expansion of off-road trails and parks, and social media buzz significantly drive this segment's growth. The challenges faced by the key market participants for this segment include maintenance and operational costs, safety concerns, and regulations related to environmental conservation in wilderness areas.

Application Insights

“The demand for tourism segment is expected to grow at a significant CAGR of 11.1% from 2024 to 2030 in terms of revenue”

The commute segment accounted for 62.34% of the market revenue share in 2023. Due to the rising traffic in the major metro cities and subsequent increases in daily commute times, individuals rent motorcycles for convenience. This segment often sees demand for scooters and lightweight motorcycles that are more manageable in tight urban spaces.

Tourism is likely to witness growth of 11.1% over the forecast period. Rentals in this segment include a wide range of motorcycles, from lightweight models ideal for city exploration to heavyweight bikes designed for long-distance touring. Off road motorcycles for adventurous tourism attract target customers, and motorcycle touring is popular as a form of travel.

Regional Insights

“U.S. to witness fastest market growth at 10.2% CAGR during the forecast period.”

The motorcycle rental market in North America accounted for the largest revenue share of 34.4% in 2023. A wide range of players, including specialized motorcycle rental companies, tour operators offering motorcycle rental as part of their packages, and peer-to-peer rental platforms, are significantly attributed to the high regional market share.

U.S. Motorcycle Rental Market Trends

The motorcycle rental market in the U.S. is estimated to grow at a significant CAGR of 10.2% over the forecast period. The market has experienced notable growth and transformation over the past few years owing to developments in the recreational and tourism industry and parallel developments in the commuting landscape involving motorcycle rentals.

Europe Motorcycle Rental Market Trends

The motorcycle rental market in Europe is growing at the second fastest CAGR during the forecast period. The region's stronghold is bolstered by arich history, diverse cultures, and breathtaking landscapes, motorcycle tourism offers an unparalleled opportunity for exploration and adventure. Further, various key players are investing in electric vehicles, targeting environmentally conscious customers.

Asia Pacific Motorcycle Rental Market Trends

The motorcycle rental market in Asia Pacific is experiencing significant growth, driven by rising tourism, a burgeoning middle class, and an increasing interest in motorcycle travel. Growing technological platforms and a preference for self-guided bike travel are also likely to positively influence the market growth over the forecast period.

Key Motorcycle Rental Company Insights

Some key players operating in the market include Harley Davidson Inc., Edelweiss Bike Travel, and West Coast Motorcycle Hire.

• Edelweiss Bike Travel is a leading motorcycle touring company that has been providing unparalleled motorcycling adventures to enthusiasts around the globe since its inception in 1980 in Austria and neighboring countries. The company also offers a motorcycle rental business with a wide selection of motorcycles and flexible rental durations.

• West Coast Motorcycle Hire is a premier company that offers high-quality motorcycle rentals for enthusiasts and adventurers seeking to explore the scenic beauty of the West Coast of Australia and beyond.

IMTBIKE TOURS SL, Riders Share Inc., and Krabi Moto Rentals are some emerging market participants in motorcycle rental.

• IMTBIKE TOURS SL is a distinguished motorcycle tour company specializing in offering premium guided motorcycle tours and rentals across Europe. The company has been dedicated to delivering high-quality services to motorcycle enthusiasts and adventurers.

• Krabi Moto Rentals is a prominent motorcycle and scooter rental service based in the picturesque region of Krabi, Thailand. Krabi Moto Rentals caters to tourists and locals alike with its user-friendly services, reliability, and extensive range of quality motorcycles and scooters.

Recent Developments

• In April 2024, Royal Enfield launched a motorcycle renting business that is available through websites. Currently, the service is offered in 52 touring destinations across 25 nations at affordable prices for travelers.

• In March 2022, a mobility startup called Chalo in India acquired Vogo, a two-wheeler rental platform based in Bengaluru, India. As a part of the acquisition the platform is transitioning into electric vehicles for all its fleet available.

Motorcycle Rental Market Report Scope

Global Motorcycle Rental Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the motorcycle rental market based on product, type, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Commuter Motorcycles

  • Luxury Motorcycles

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Off Road

  • On Road

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Tourism

  • Commute

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE