DUBLIN, Dec 22, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Motorcycle Rental Market 2016-2020" report to their offering.
The report forecasts the global motorcycle rental market to grow at a CAGR of 4.80% during the period 2016-2020.
The Global Motorcycle Rental Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is increased dependence on technology to increase customer base. Motorcycle rental operators are increasingly using technology to provide convenience to customers. Most operators are trying to streamline their membership procedures to make motorcycles available to the customer within a minimal time. The high penetration of the internet and subsequent penetration of smartphone users in the economy are the main drivers for the increased dependency on technology.
According to the report, one of the major drivers for this market is increase in road-trip tourism. Increase in road tripping tourism in countries like India and America, and increase in the levels of traffic congestion on city roads have led to the rise in the number of motorcycle tours by tourists. In India, adventure tourism comprised about 35% and wildlife tourism comprised about 40% of the domestic Indian tourism industry in 2015. These are expected to drive the market for motorcycle rentals as most of the locations are situated in places with limited transportation facilities.
Further, the report states that one of the major factors hindering the growth of this market is rise in on-demand taxi operators. The growth in the on-demand taxi market has a negative impact on the market for rental motorcycles. Smartphone penetration and the 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. On-demand taxi operators had an increase of about 15% in the number of rides available in the US in 2015.
- Adriatic Moto Tours
- Wicked Ride
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by application
Part 07: Geographical segmentation
Part 08: Key leading countries
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
Part 16: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/g382t5/global_motorcycle
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets