The sales of used bikes through bike marketplaces are expected to witness a steady growth trajectory, with an average Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period. However, as awareness regarding the availability of used bikes through bike marketplaces increases, sales are projected to soar to US$ 68 billion by 2032. The Internet plays a pivotal role in driving the demand for used bikes, with the emergence of numerous websites facilitating the purchase of used bikes or showcasing portfolios for offline sales.
Bike shops worldwide experienced inventory shortages as listings from manufacturers slowed down significantly. As a result, consumers turned to online platforms and marketplaces to fulfill their biking needs, further driving the sales of used bikes through digital channels.
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Key Takeaways
- The historical size of the global used bike marketplace in the year 2021 is estimated to be around US$ 38.2 Billion.
- The yea-on-year growth rate of the used bike marketplace is found to have improved from that of 4% recorded during the time period covering 2017 to 2021.
- On the basis of distribution channel, customer to customer method of business is the dominating segment with 62.8% contribution.
- Imported bikes accrue almost 63% of the total sales of used bikes through bike marketplace achieved by the global market.
- Bikes with an engine capacity ranging between 150 CC to 200 CC is figured out to be the highest selling segment for the sales ofused bikes through bike marketplace.
- In consistent with the fact, super bikes are the most popular segment with 25.2% market share and higher profit margin for the sales ofused bikes through bike marketplace.
- Used electric bikes for sale through marketplaces has surfaced to be rapidly gaining traction against petrol bikes, by acquiring nearly 31.7% of the total market in a very short time.
Competitive Landscape
Some of the market key players includes Droom, CredR, Bikedekho, Bikewale, Mahindra First Choice, Bikers Highway, OLX, Quicker, Use Motorcycle Store, and Bicycle Bluebook among others.
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Key Segments
By Distribution Channel:
- Customer to Customer
- Business to Customer
By Source:
- Domestic Bikes
- Imported Bikes
By Engine Capacity:
- Up to 100 CC
- 100 to 110 CC
- 110 to 135 CC
- 135 to 200 CC
- Above 200 CC
By Type:
- Computer
- Off-Roading
- Sports
- Super Bikes
- Cruiser Bikes
- Others
By Propulsion:
- Petrol
- Electric
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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