Motorcycles and bike accessories are becoming increasingly popular around the world, and their popularity extends from established to developing markets. For example, in 2013, U.S. motorcycle sales increased by 1.4 percent to reach 466,000 units sold. While the positive trend is favorable, it represents only a fraction of the opportunity that exists within the global market. To put things in perspective, 2012, China sold 26.4 million units. With the industry expected to reach a value of 64.6 billion USD globally by 2018, there is significant financial opportunity in motorcycles and accessories. In this white paper, learn more about growth trends and how you can capitalize on them by using international order fulfillment warehouses to reach customers faster.
Let’s start with the obvious: Motorcycles and their accessories have been defining cool since the dawn of time. However, it’s only in recent years that the industry has revved up around the globe — their practicality in navigating bustling city streets combined with low operating and maintenance costs make motorcycles a popular transportation option worldwide.
According to Datamonitor, the global motorcycle market will be valued at $64.6 billion by 2018, driven by a five-year compound annual growth rate of 8.6 percent. Motorcycle popularity is most pronounced in emerging markets and particularly within the Asia-Pacific region. Consider this: Motorcycle sales in the U.S. totaled 452,386 units in 2012. By comparison, in China, sales hit 26.4 million units. And it’s not just bike sales that nourish the market. In certain European countries, spend per biker is increasing as veteran riders seek to accessorize riders adopt trends like eco-friendly bikes and equipment. Custom parts, clothing, and protective helmets all contribute to strong sales, which translate into huge opportunities for bike companies everywhere.
Take American motorcycle giant Harley-Davidson, for example. The brand wields a certain influence internationally, but the truth is that the majority of its $5.3 billion annual revenue comes from United States sales. The domestic market has been sufficient for a long time, but the growth potential that Asia offers is too significant to ignore, and Harley knows it. That’s why the company is accelerating its push into China — a rapidly developing economy with an appreciation for the art of biking — and so should you.
To discover more fulfillment resources, explore some of our topic-based collections or browse our resource library.