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In this article, we discuss the 15 biggest bike companies in the world. If you want to read about some more bike companies, go directly to 5 Biggest Bike Companies In The World.
A motorcycle is a two-wheeled vehicle, often called a bike, consisting of a metal frame, an engine or an electric motor, and other mechanical and electronic components. It is a popular mode of private transport among the people of both developing and developed societies. The designs of motorcycles are based on the purpose they are built for. For example, sports bikes, cruisers, off-roading, long-distance traveling etc. Similarly, the engine and power capacities may vary, concerning the application. The popularity of motorbikes is mostly due to their cost-effectiveness and fuel consumption. The only downside of this mode of transport is its vulnerability to road accidents.
The current focus of the global motorcycling industry is towards reducing carbon emissions and introducing cleaner and greener technologies, better customer services, research and development, and improving mass production capacity and processes. As the global middle-class population grows, demand for efficient and cheap transportation methods is expected to climb dramatically in the coming years. Motorcycles are becoming more popular as a feasible option; hence, demand for motorcycles and scooters is expected to climb.
The consumer behavior and dynamics of the global markets both can help bike companies in the world redesign their strategies for growth in the future. Affordability and style are becoming the key factors to recapture customer attention. Heavy bikes have a niche market with a small target market; however, affordable and convenient bikes hold more demand today. Notably, there are more than 200 million motorbikes in the world, ranging from simple models to high-end superbikes.
In the year 2021, the global motorcycle market was estimated at $120 billion. With the rise in demand, it reached to about more than $127 billion in the year 2022. Fortune Business Insights predict that the motorcycle market will reach $223 billion by 2029. The Asia-Pacific is the largest market for motorcycles in the world with 8 out of the 10 largest countries by market located in Asia. The largest market in the world is China followed by India and Indonesia. In North America, the US and in Southern America, Brazil makes it to the top of the largest motorbike markets.
The major driving factors of the industry include the rising fossil fuel cost, awareness about cleaner technologies, use of state-of-the-art technology for luxury and the cost-effectiveness of the vehicle. Having small-capacity engines helps in reduced fuel consumption which directly benefits the user in financial terms. Considering developing countries, a bike is thought of as a cheap and effective mode of personal transport. Additionally, related to the point of fossil fuels and rising awareness on the issue of climate change, sales of electric motorcycles are on the rise as well.
Electric bikes are expected to outperform traditional motorbikes in a variety of ways, including fuel efficiency, silent operation, and low noise. Furthermore, as pollution limits tighten, demand for alternative modes of transportation is expected to surge. The current e-motorcycle market stands at about $400 million in the year 2022 which is expected to rise rapidly to more than $1 billion by the year 2027. Furthermore, the use of technology such as antilock braking systems and the introduction of slip clutch systems adds to the safety of the rider.
Despite all the advantages, motorcycles are prone to accidents. The two-wheeler is considered one of the most dangerous modes of road transportation in the world. Every year in the EU 6,800 people die in motorbike accidents. This is one of the restraining factors in the global motorcycle market growth. Some of the top firms working in the bike sector include Harley-Davidson Inc (NYSE:HOG), Ford Motor Company (NYSE:F), and Lightning eMotors, Inc. (NYSE:ZEV), among others discussed in detail below.
Our Methodology
These were picked from a careful assessment of the bike industry. The details of each bike company are mentioned alongside a discussion around top firms in the sector in order to provide readers with some context for their investment decisions.
It is important to clarify that the word bike was used synonymously with motorcycles in this article. Traditional bikes, or cycles, as they are known in some places around the world, were not considered.
15 Biggest Bike Companies In The World
Photo by Zakaria Zayane on Unsplash
Market Capitalization: $1 Billion
Alberto Beggio established the Italian motorcycle company Aprilia in Noale, Italy, immediately following the end of World War II. The business began by making bicycles before transitioning to the production of scooters and small-capacity motorcycles. Beginning with motocross racing and moving on to a world championship-winning road racing programme, Aprilia has maintained a robust motorsport competition programme. Piaggio purchased the business in 2004.
Just like Harley-Davidson Inc (NYSE:HOG), Ford Motor Company (NYSE:F), and Lightning eMotors, Inc. (NYSE:ZEV), Aprilia is one of the biggest bike companies in the world.
Market Capitalization: $900 Million
Currently, KTM, an Austria-based firm, is Europe's top motorbike manufacturer. Nowadays, Pierer Mobility AG and Bajaj Auto jointly own KTM. Despite the pandemic's effects, KTM was still able to sell 212,713 motorcycles in 2020. In the MX2 World Motocross Championship, KTM has won 12 of the last 13 championships. In the Dakar Rally, it has won 18 straight races from 2001 to 2019.
Market Capitalization: $3.5 Billion
The Kawasaki motorcycle and engine company employs about 5,000 people across 12 production and sales divisions in 10 different nations. Their success is largely due to their universality. They serve a variety of clients. They sell motorcycles for a wide range of customers, ranging from $2,300 to $550,000.
Market Capitalization: $737 Million
Triumph is the biggest British motorcycle manufacturing company. Triumph markets and distributes its products through a network of about 700 dealerships and six manufacturing facilities. When its sales reached a height of 60,628 units in 2017, Triumph had the highest level of annual sales. Due in major part to the effects of the pandemic, the company was only able to sell 48,993 motorcycles in the fiscal year 2020 that concluded on June 30 with a turnover of roughly $593.232 million.
Market Capitalization: N/A
Indian Motorcycles was acquired by Polaris in 2011. In addition to a network of over 200 dealers in North America, it has over 300 overseas dealers. 2020 saw a combined 330,000 unit sales for Indian Motorcycle and Polaris Slingshot. The largest market for them was North America, where they sold 190,000 units.
Market Capitalization: $6.8 Billion
Harley-Davidson Inc (NYSE:HOG) became well-known after providing bicycles with motors to American soldiers fighting in the First World War in 1903. As of right now, Harley-Davidson Inc (NYSE:HOG) has a network of 1,379 dealers spread all around the globe. Despite the pandemic's devastating effects on sales, Harley-Davidson Inc (NYSE:HOG) nonetheless managed to sell 180,248 motorcycles in the FY 2020, generating $4.05 billion in revenue. Large displacement cruisers, street motorcycles, and touring motorcycles are their areas of expertise. They don't produce sports bicycles. Harley-Davidson Inc (NYSE:HOG) is far more expensive than some of its rivals, with an average price of $20,338 in 2019.
Market Capitalization: $6.6 Billion
Polaris Inc. (NYSE:PII) is based in Medina, Minnesota, in the United States. Polaris Inc. (NYSE:PII) was established in Roseau, Minnesota, where it continues to maintain facilities for engineering and production. Up until January 2017, Polaris Inc. (NYSE:PII) produced bikes through its Victory Motorcycles subsidiary. Polaris Inc. (NYSE:PII) now produces motorcycles through the Indian Motorcycle subsidiary, which it acquired in April 2011. In 2021, they made total sales of $8.2 billion. Polaris Inc. (NYSE:PII) has been a leader in power sports products since 1954, providing enriching and innovative experiences for people to enjoy outdoor activities. Polaris has forward operations in over 100 countries.
Market Capitalization: $7 Billion
Hero Motocorp Ltd., formerly known as Hero Honda, is based in New Delhi, India, and produces Indian motorbikes and scooters. The largest two-wheeler manufacturer in both India and the world is Hero Motocorp. It has a market share of roughly 46% for two-wheelers in India. Hero Honda Motors was named 108th among the 200 most prestigious companies in the world by Forbes in 2006. The company's market value is more than $7 billion. The prominent bike models it sells include Hunk, Splendor, Glamour, and Deluxe.
Market Capitalization: $8 Billion
With 135 subsidiaries and more than 52,000 personnel, Yamaha Motors, with its headquarters in Iwata, Japan, runs its manufacturing and marketing operations from the island country. With an estimated five million motorcycles sold globally in the 2019 financial year and $15.3 billion in sales revenue, Yamaha has a strong following among enthusiasts of two wheels. After years of development and innovation, Yamaha is now able to provide goods of the greatest caliber at competitive prices. The company was founded in 1955 and holds a strong position in the ASEAN region, with 40% sales, which have been its strength since the 1990s.
Market Capitalization: N/A
Royal Enfield is the oldest global brand of motorcycles who are still in business. The Enfield Cycle Company of Redditch, Worcestershire, England, which created and produced the Royal Enfield Bullet, the longest-lasting motorbike design in history, produced the first Royal Enfield motorcycle in 1901. In 1990, Royal Enfield began working with the Indian automaker Eicher Group, which it later merged with in 1994. Right now, they are based in Chennai, India with annual revenue of over $1.1 billion.
Along with Harley-Davidson Inc (NYSE:HOG), Ford Motor Company (NYSE:F), and Lightning eMotors, Inc. (NYSE:ZEV), Royal Enfield is one of the biggest bike companies in the world.
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Disclosure. None. 15 Biggest Bike Companies In The World is originally published on Insider Monkey.
Giant Manufacturing Co. Ltd. (commonly known as Giant) is a Taiwanese bicycle manufacturer, recognized as the world's largest bicycle designer and manufacturer.[1][4] Giant has manufacturing facilities in Taiwan, the Netherlands, China,and Hungary. They have future plans for Vietnam to be the fifth location.
History
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Giant Cadex 980C first mass-produced carbon fibre road bicycle A Giant TCX cyclocross bicycleGiant was established in 1972 in Dajia, Taichung County in Taiwan (now part of Taichung City), by King Liu and several friends.[who?] A major breakthrough came in 1977 when Giant's chief executive, Tony Lo, negotiated a deal with Schwinn to begin manufacturing bikes as an OEM, manufacturing bicycles to be sold exclusively under other brand names as a private label. As bike sales increased in the U.S., and after workers at the Schwinn plant in Chicago went on strike in 1980, Giant became a key supplier, making more than two-thirds of Schwinn bikes by the mid-1980s, representing 75% of Giant's sales. When Schwinn decided to find a new source and in 1987 signed a contract with the China Bicycle Company to produce bikes in Shenzhen, Giant, under new president Bill Austin (formerly vice-president marketing at Schwinn), established its own brand of bicycles to compete in the rapidly expanding $200-and-above price range. In 1984, Giant also set up a joint venture, "Giant Europe", with Andries Gaastra of Dutch bicycle manufacturer Koga-Miyata.[5] In 1992, Gaastra sold his shares back, and Giant became a full shareholder of Giant Europe.
By 2018, Giant had sales in over 50 countries, in more than 12,000[6] retail stores. Its total annual sales in 2017 reached 6.6 million bicycles with revenue of US$1.9 billion.[7]
Most of its merchandise is destined for the European Union, the United States, Japan, and Taiwan.
COVID-19 pandemic
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With the coronavirus pandemic, the demand for Giant's bicycles increased. Bicycle manufacturing skyrocketed in Taiwan, fueled by global demand sparked by fear of contracting the coronavirus on crowded buses and trains in Europe or America, or by the need for outdoor activities after weeks of confinement. With this increase in demand, Giant is planning to build a new large plant in the European Union. In addition, the company is moving factories from China to Taiwan.[8]
COVID-19's effect on the bicycle industry is evinced by a 55% increase in Giant's revenue in the first quarter of 2021. E-bikes have accounted for 30% of sales.[9]
Mosh BMX
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In 1996, Giant established their Mosh BMX division with the help of Redline Bicycles founder Linn Kastan and racer Jason Richardson. Mosh manufactured BMX bikes and parts, as well as managed a professional BMX racing team.[10] In 2002 Giant signed a three-year sponsorship deal with Satellite Sports Group (a company that then managed the former GT Air Show) to begin manufacturing Giant branded bikes to boost the Giant label.[11] These bikes were priced between $150 and $350, filling in the open entry level price gap that their Mosh labeled high-end bikes could not. Giant made bikes using the Mosh name until 2003 when it switched to labeling all high end stunt specific parts as Mosh parts. The parts were sold separately as well as on Giant labeled BMX bikes.[10] In 2008, Mosh was disbanded.[12]
Liv
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In 2008 Giant launched the Liv/Giant sub-brand with products focused exclusively on the female cycling market.[13]
Liv Racing AGR Women's team bikesIn 2014, the Liv/Giant sub-brand was re-branded to Liv.[14] The re-branding was meant to further differentiate the Liv brand products with existing Giant product, communicating the concept of "designed by women for women". All Liv products are designed from the ground up including frame geometry and carbon layup, and utilizes separate molds and designs that separate it from Giant branded products. As part of the rebranding, dedicated Liv stores and Liv zones within most Giant retailers were introduced.[15]
Momentum
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In 2015, Giant announced the global launch of its Momentum brand lifestyle bikes. The first two models, the iNeed Street and iWant Park, had an ARP of US$425 and were aimed at a younger, more urban demographic than Giant's more expensive performance road and mountain bikes.[16]
Cadex
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In July 2019, Giant launched CADEX, previously the name of their mass-produced carbon fiber bicycle launched in 1987, as their line of bicycle components, wheels, tires, and finishing kits.[17] Before the brand was officially launched, UCI WorldTeam teams sponsored by Giant (Team Sunweb on 2018, and CCC Pro Team on 2019) were seen with components branded as #Overachieve, which Giant says were race-tested prototypes of the CADEX components. This line was designed to "develop superior cycling components for pro racers" and compete directly with the Specialized S-Works line.[18]
Technologies and innovations
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Giant Halfway folding bicycleIn 1987, Giant introduced the CADEX carbon fiber road bike. Giant became the first bicycle maker to apply computer-aided design and volume production techniques to the production of carbon road bikes.[19]
In 1995, Giant designed the first road bicycle with a sloping top tube featuring a smaller rear triangle. The tighter chainstay-seatstay configuration is said to be inherently stiffer than a more conventional frame design, and because less material is used, the Compact Road design is also said to be lighter.[20] With more responsive cornering and improved acceleration, as well as improved aerodynamics, the Giant design became largely imitated.
By 1998, with Mike Burrows, Giant refined the design for racing by the professional ONCE team. This was only after initial resistance by the Union Cycliste Internationale and subsequent amendment to its regulations to allow for bicycles with a sloping top tube.
Giant road frames were originally made of 6061 (ALUXX) aluminium alloy and were also characterized by bladed forks and seat posts to reduce air resistance. Frames came in three sizes (small, medium, and large), with riders fitted through the use of stems and seat posts of different lengths. By 2018, Giant road frames were available in up to six sizes (X-Small, Small, Medium, Medium/Large, Large and X-Large).
In 2003, the Total Compact Road (TCR) frame was offered in carbon fiber construction and marketed as the TCR Composite range. In 2006, Giant added a higher-grade carbon fiber frame marketed as the TCR Advanced frame, which was characterized by an integrated seat post (ISP). These frames were most notably raced at the Tour de France by T-Mobile's professional team. Using this design, the seat post on the new frame must be cut precisely to fit the owner by a trained Giant dealer. The TCR Advanced SL frames with ISP continued to be raced internationally, most notably by the Rabobank team (2009-2013), Team Giant-Shimano (2014), Giant-Alpecin (2015–2016) and Team Sunweb (2017-2018).
In terms of other innovations, Giant also introduced its Maestro suspension in 2006. Maestro Suspension, according to Giant, is designed to deliver an efficient rear suspension power transfer. Maestro utilizes a setup of four pivot points and two linkages to create a floating pivot point that is designed to reduce pedal bob and enables the rear wheel to travel vertically.
As of 2020, Giant categorizes its bicycles by user:
Within each Level are several Uses, such as Race, Endurance, City, Cruiser, etc.
In late 2016, Giant announced the Road-E+ e-Bike, which features:
E-Bikes have become an increasingly popular type of bike of late. They now come in many different offerings, just like Giant offers with their normal bikes. The main three types are sorted into categories which are: Electric Road Bikes, Electric Mountain Bikes, Electric Adventure Bikes.
Giant's first foray into professional road cycling was with the defunct Spanish Team ONCE directed by Manolo Saiz using Giant TCR frames in custom sizes for each individual rider. Laurent Jalabert was one of the most notable cyclists in the ONCE Team.
Giant currently sponsors a number of cycling teams as well as individual athletes.
Team Sunweb's Giant TCRs race bike.In road cycling, Giant celebrated multiple achievements as the bike supplier of UCI WorldTeam Team Sunweb (both men and women), which competes in the highest level of road cycling. They are most noted for when both men and women teams won the Team Time Trial event at the 2017 UCI World Championships in Bergen, Norway. Notable riders include Tom Dumoulin, winner of the pink jersey in the 2017 Giro d'Italia; Warren Barguil, winner of the polka-dot jersey in the 2017 Tour de France, and Michael Mathews, winner of the green jersey in the 2017 Tour de France.
In 2019, Giant switched sponsorship from Team Sunweb to CCC Pro Team.
Giant also sponsors many individual teams and athletes who range from ex-pros to current world champions.[23]
Kristian Blummenfelt is arguably Giant's most popular sponsored athlete, as he is currently one of the best triathletes in the world. He recently won an Olympic gold medal in Tokyo this summer as well as holds the records in the 70.3 and the 140.6 distances.
Hector Leonardo Paez is another well known sponsored athlete, as he is a previous world champion XC mountain bike champion.
Rahsaan Bahati is a former 10-time U.S. National Road Champion as well as the founder of the Bahati Foundation which works to build strong communities by providing underserved youth with bicycles.
Some of the teams that Giant sponsor include: The Giant Off-Road Factory Team, The Black Foxes, and Team Onyx.[24] Team Onyx is an all-black expedition racing team who have appeared on the show Worlds Toughest Race while competing in an Eco-Challenge.
In 2022 Giant entered a sponsorship with Team Jayco–AlUla.
See also
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References
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