DUBLIN, July 21, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Trike Market 2016-2020" report to their offering.
The global trike market to grow at a CAGR of 13.22% during the period 2016-2020.
The traditional two-wheeled motorcycle dominates the market because these machines are engineered with tested and proven mechanisms and offer significant mileage. Another type of vehicle is the trike. This vehicle was introduced during the last decade, but mostly focused on three-wheeled counterparts to motorized trikes. However, motorcycle trikes and scooter trikes remain in the nascent stage. Motorcycle trikes may gain traction during the forecast period.
A trend which will boost market growth is the rising backward (reverse) concept in trikes. The trike market is at a nascent stage but market is witnessing fast development in the form of design, features, and performance. Delta trikes were developed first, which were an extension of traditional motorcycles with two rear wheels. These trikes were more stable than traditional motorcycles and fulfilled customer requirements.
But the need for high acceleration and high-performance trikes created problems for this type particularly when sudden braking or turning takes place. Delta trikes push weight of the rider outside, which can be hazardous while turning or sudden braking. The reverse trikes concept is used by OEMs like Polaris Slingshot, Can-Am Spyder, and Campagna Motors for their versions of trikes.
According to the report, a key growth driver is the rising numbers of baby boomers and women riders expanding market demand. Trikes were developed to allow aged people to continue their passion for riding. The senior demographic is the ideal customer for the trike market and their custom plays an important role in the trike market. Additionally, the trike market is witnessing rising adoption from women riders.
Further, the report states that one challenge that could restrict market growth is the higher initial price compared to traditional motorcycles.
- Bombardier Recreational Products
- Campagna Motors
- Polaris Industries
Other prominent vendors
- Lehman Trikes
- Motor Trike
- MTC Voyager
- Roadsmith Trikes
- Tilting Motor Works
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 end-users
Part 07: Market segmentation by trike type
Part 08: Geographical segmentation
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
Part 15: Appendix
For more information visit http://www.researchandmarkets.com/research/h4bds2/global_trike
Research and Markets
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SOURCE Research and Markets