Cruiser Motorbikes to Stimulate Revenue Pools, Technological Innovations at the Core of Key Manufacturers: Fact.MR
NEW YORK, Feb. 9, 2021 /PRNewswire/ Fact.MR s recently published report on the global motorcycle market forecasts an optimistic outlook for 2021 compared to 2020. Despite a pandemic-induced recession, the market has rebounded well since the fourth quarter, and is likely to remain stable throughout the current year. Projections for the forthcoming decade are pegged at a CAGR exceeding 3%.
While global sales experienced a downsizing by nearly 28% (9 million units) in the previous year, growth has been sustained by rising apprehensions amid netizens to utilize public transport services owing to the fear of contracting infections. Hence, private vehicle ownership has spiked. By August end of 2020, nearly 22 million new scooters, mopeds and motorcycles were sold across the world.