NEW YORK, Sept. 27, 2023 /PRNewswire/ — The trike market is estimated to grow by USD 2.43 billion from 2022 to 2027, growing at a CAGR of 14.4%. The trike market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer trike market are AKO Technical, Arcimoto Inc., AZUB BIKE s.r.o., Bombardier Recreational Products Inc., Boss Hoss Cycles Inc., Campagna Motors Inc., CHAMPION TRIKES OF ARIZONA, Cheetah Trikes Inc., HANNIGAN MOTORSPORTS, Harley Davidson Inc., Motor Trike Inc., Motorcycle Tour Conversions Inc., Piaggio and C. Spa, Polaris Inc., Qooder SA, Renegade Trike Corp., Roadsmith Inc., Tilting Motor Works Inc., Van Raam Reha Bikes B.V., and Yamaha Motor Co. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
Technavio has announced its latest market research report titled Global Trike Market 2023-2027
Company Offering:
Arcimoto Inc. – The company offers trikes such as FUV, Rapid Responder, Roadster, and more.
Bombardier Recreational Products Inc. – The company offers trikes such as Can-Am Spyder RT, Can-Am Ryker, and more.
Boss Hoss Cycles Inc. – The company offers trikes such as New SS Truck Trike, Coupe Trike, and more.
For details on companies and their offerings – Buy the report!
By Geography, the market is classified as North America, Europe, APAC, Middle East and Africa, and South America. North America will have the largest share of the market. North America will contribute 64% to the growth of the global market during the forecast period. The US and Canada are among the major contributing countries in the region for the trike market. The growth of the market in these countries can be attributed to an increase in the number of baby boomers and female motorcycle riders. In comparison to other regions in its demographics, North America plays a major role in the growth of the trikes market. Hence, such factors drive the growth of the regional trikes market during the forecast period. Download a sample report to get more insights on the market share of various regions and the contribution of the segments.
Impactful driver- Better stability in trikes when compared to conventional motorcycles
Key Trend – Frequent modification in the concept of trikes
Major Challenges – The high price of trikes when compared to traditional motorcycles
Market Segmentation
By Product, the reverse trike segment is significant during the forecast period. This segment is launched by several prominent market players in the global trike market. The market players include BRP, Campagna Motors, and Polaris Industries. The segment offers more stability through better weight distribution, which, in turn, enables effective braking. This segment will offer more stability while braking and cornering activities. This enables the riser to reduce the turn radius. Hence, such factors drive the growth of the reverse trike segment of the trikes market during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Free Sample Report
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Trike Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.4% |
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YoY growth 2022-2023 (%) |
26.01 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Key countries |
US, Canada, China, UK, and France |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Retail Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
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SOURCE Technavio
