Motorcycle industry statistics by state 2024
There’s nothing quite like riding a motorcycle to truly enjoy the thrill of the open road. Americans have an affinity for motorcycles, and the bike market continues to reflect this passion.
Read on for a deep dive into key statistics regarding the motorcycle industry, including state-specific details on ownership, overall industry projections and insight into the emerging trend of electric motorcycles.
The global motorcycle market size was valued at $105.52 billion in 2021 and is projected to reach $233.5 billion by 2031, according to Allied Market Research.
Jump to insightThe number of on-road motorcycles registered in the U.S. has more than doubled from 4.3 million in 2002 to 8.8 million in 2023.
Jump to insightOf all of the U.S. states, California and Florida boast the largest number of registered motorcycles. Rhode Island, Vermont, Wyoming and Alaska are among the states with the fewest registered motorcycles.
Jump to insightMotorcycle market revenue in the U.S. is projected to reach nearly $7 billion in 2024 — that number is expected to increase to $7.49 billion by 2028.
Jump to insightThe average cost of motorcycles has remained somewhat steady in recent years. In 2024, the average cost to purchase a motorcycle is just over $12,000.
Jump to insightGeneral motorcycle market trends and overview
Despite the risks of riding, motorcycles are having a moment. In virtually every region of the world, motorcycle sales are predicted to rise in the coming years. Amid ongoing economic turmoil, environmental concerns and rising urbanization, two-wheel vehicles are an increasingly attractive option.
In 2021, the global motorcycle market size was valued at $105.52 billion but is projected to reach $233.51 billion by 2031, according to Allied Market Research. Another estimate values the 2023 global motorcycle market at $139 billion, projecting a steady climb toward $284 billion by 2030.
That growth certainly applies to U.S. buyers. According to the most recent data available (2023), there are approximately 8.8 million registered motorcycles in the U.S. Experts predict that sales of on-road motorcycles will continue to steadily grow. The addition of more environmentally friendly, energy efficient electric options should also bolster future motorcycle sales.
While Harley-Davidson is the top motorcycle manufacturer in the U.S. (27.1% of market share as of 20234), in 2023 Honda overall globally sold the most two-wheelers (over 18 million).
Types of motorcycles
Though terms may differ slightly depending on the region, the motorcycle market is often segmented into the following categories:
- Standard: Typically have an upright, mostly neutral seat position and engine power that would be classified as middle-of-the-road. (Cruising bikes are typically similar.)
- Sport: High-powered engine, built for speed and racing.
- Touring: More robust chassis, more powerful engine and more storage.
The market also includes “off-road” bikes (think dirt bikes and other two-wheelers designed to ride on dirt or sand), scooters and electric motorcycles.
Motorcycle registration by state
In 2023, according to data compiled by IHS Markit and published by the Insurance Institute for Highway Safety, there were 8,790,480 on-road motorcycles registered in all 50 states (plus Washington, D.C.). That number is up from 8,587,020 in 2021, and dramatically larger than the 2002 nationwide tally of 4,339,271.
By far, California has the highest number of registered motorcycles in the U.S. (936,809). After the Golden State, the highest concentration of on-road two-wheelers are in Florida (668,046), Ohio (407,952), Pennsylvania (403,039) and Texas (394,351). Meanwhile, states with colder climates and sparser populations — such as North Dakota, Alaska, Wyoming and Vermont — are much lower on the list.
The Insurance Institute for Highway Safety’s registration data is also segmented by motorcycle type. These include subsets of different styles of bikes, such as custom “choppers,” which are low-riding motorcycles with higher handlebars. The data shows that in 2023, “dual purpose” vehicles (street-legal bikes that can be used either off- or on-road) were the most commonly owned two-wheelers in the U.S. (735,149), closely followed by scooters (695,621).
Electric motorcycle trends
As the cost of gas continues to soar, and a heightened awareness of the environment increases in the U.S. and around the world, opportunities for the electric motorcycle market abound. As of 2023, the global electric two-wheeler market is worth approximately $36 billion, although that value could soar north of $120 billion by 2030.
Another forecast predicts that the worldwide electric motorcycle market could be worth an astounding $143.8 billion by 2030. In the U.S., numbers are projected to rise as well. According to one estimate, between 2023 and 2030, the U.S. electric motorcycle market is expected to experience a compound annual growth rate of nearly 19%.
As of 2024, some of the top electric motorcycle manufacturers include:
- Honda
- Maeving
- Energica Motor Company
- Zero Motorcycles, Inc.
- CAKE
- SUR-RON USA
- Harley-Davidson, Inc.
- Electric Motion
As technology and infrastructure improves (regarding battery design, safety and distance capacity, as well as the availability of charging stations, etc.) electric motorcycle sales should rise exponentially for the foreseeable future.
Motorcycle market trends, predictions and projections
Worldwide, from 2022 to 2031, motorcycles are projected to see an 8.6% compound annual growth rate, resulting in a total market value exceeding $233.5 billion. Global motorcycle sales are also expected to surpass $60 million in 2028 (resulting in $145.5 billion in revenue), up from an estimated $56.09 million in sales for 2024.
The Asia-Pacific region remains the top player in terms of global motorcycle market share, but demand throughout North America is also strong. Statista estimates that throughout the region, over 1 million motorcycles will be sold in 2024, generating total revenue exceeding $9 billion.
Overall, a notable rise in the demand of electric motorcycles and other advancements in the industry meant to enhance the safety and comfort of riders will help shape and bolster this dynamic market for years to come.
FAQ
How many motorcycles are registered in the U.S.?
There are approximately 8.8 million registered motorcycles throughout the country.
Which U.S. state has the most motorcycles?
By a large margin, California is home to the most motorcycles (936,809).
How much is the motorcycle industry worth?
In 2024, U.S. motorcycle market revenue is projected to reach nearly $7 billion and is expected to increase to $7.49 billion by 2028.
References
- “Motorcycle size, share and competitive landscape.” Allied Market Research. Evaluated March 20, 2024.Link Here
- “Motorcycle market size and forecast.” Verified Market Research. Evaluated March 20, 2024.Link Here
- “Motorcycles registered in the United States, 2002-2023.” Insurance Institute for Highway Safety. Evaluated March 20, 2024.Link Here
- “Market share of major motorcycle brands in the U.S. in 2023, based on unit sales.” Statista. Evaluated March 20, 2024.Link Here
- “World bestselling motorcycles ranking 2023.” MotorCycles Data. Evaluated March 20, 2024.Link Here
- “Electric motorcycle market to hit $121.07 billion by 2030.” Grand View Research. Evaluated March 20, 2024.Link Here
- “Electric motorcycle market size, share and analysis.” Zion Market Research. Evaluated March 20, 2024.Link Here
- “Electric motorcycle market size, share and growth report, 2030.” Grand View Research. Evaluated March 20, 2024.Link Here
- “Motorcycles - Worldwide.” Statista. Evaluated March 20, 2024.Link Here
- “Motorcycles - North America.” Statista. Evaluated March 20, 2024.Link Here
Figures