Published on : Dec 22, 2016
Albany, New York, December 22, 2016: Market Research Hub (MRH) has recently added a new forecast report, titled “Global Motorcycle Rental Market 2016-2020” to its report offerings. The report provides an in-depth analysis of the present scenario and growth prospects of the global motorcycle rental market for 2016 to 2020. Geographically, key regions focused in the report includes the U.S., Europe and India.
Nowadays, because of fine weathers, most of the visitors love to be outdoors. A terrific way to get around to go an amazing place is to rent a motorcycle and enjoy the ride. Renting a motorcycles for a day is the best way to go for on and off road adventures and also there are many places that rent this mode of open air freedom transportation. The rental market allows users to rent motorcycles of their preference, which may be renting a high brand motorcycle such as Harley-Davidson, Kawasaki and Royal Enfield. In other words, for tourists and travelers who look to rent motorcycles for entertaining purposes the motorcycle rental market is a booming trade. Research analysts have estimated that the market will grow at CAGR of 4.80% through 2020.
According to the report findings, one of the major driver for the market is increase in road-trip tourism. As observed, most of the locations are situated in places where transportation facilities are limited, thus peoples are moving towards road-tripping. Countries like the U.S. and India, where increase in the levels of traffic congestion on city roads have led to the increase in the number of motorcycle tours. Furthermore, the report also outlines the major factor i.e. hampering the growth of the market. It describes that, growth in on-demand taxi market has a negative impact on the market for rental motorcycles. The smartphone penetration and increased use of applications has enabled easier reach of on-demand taxis to customers in the US, which accounted for about 67% of the total US adult population in 2015.
There are a lot of companies are available worldwide who rent various kinds of bikes for different level of bikers. To calculate the market size, the report considers the average revenue of the rental companies operating in India, U.S. and Europe. Key vendors highlighted in the report are-
- Adriatic Moto Tours
- Wicked Ride
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Also, increased dependence on technology to raise consumer base is one of the latest trend in the market during the forecast period of 2016 to 2020. Motorcycle rental operators are progressively using technology to provide convenience to customers.
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