Motorcycles (HS: 87112020) are two or three-wheeled motor vehicles with internal combustion engines. They're widely used for transportation, patrols, and cargo/passenger transport, and also serve as sports equipment.

After decades of growth, China leads globally in motorcycle production, consumption, and exports. Given recent market trends, China's motorcycle market is projected to grow at a 5% CAGR from 2024 to 2029, reaching USD 2.88 billion by 2029.

According to customs data, from January to December 2024, China's motorcycle exports were approximately USD 2.72 billion, a 17.78% year-on-year increase. Motorcycle imports were around USD 1.384 million, surging 423.64% year-on-year.

From January to December 2024, the average export price of motorcycles was USD 509.6 per unit, down by 1.67% year-on-year. This slight decline in export prices can be attributed to several factors: the rapid rise of the motorcycle industry in emerging markets such as Vietnam and India, which has intensified competition with China; fluctuations in raw material prices, which have eased cost pressures on enterprises and allowed them to maintain market share through price reductions; and the global layout and industrial chain synergy of domestic motorcycle enterprises, which have enabled them to quickly respond to market demands, reduce costs, and enhance competitiveness. During the same period, the average import price of motorcycles was USD 450.6 per unit, a year-on-year decrease of 14.1%.

In terms of export volume, motorcycle exports reached 5.339 million units from January to December 2024, a year-on-year increase of 19.77%. This growth was driven by a structural surge in the global motorcycle market, with significant increases in demand from regions such as Southeast Asia, Africa, and Latin America, as well as rising demand from developed countries in Europe and America. Chinese motorcycle enterprises have strengthened their competitiveness and captured overseas markets through advantages in the entire industrial chain, including cost efficiency, performance, brand building, and technological innovation.

From the perspective of trade regions, Asia and Europe are the main export destinations for China's motorcycles, accounting for 78.1% of the total exports. From January to December 2024, among the six continents to which China exported motorcycles, exports to Asia amounted to USD 684 million, a year-on-year increase of 28.9%; exports to Africa reached USD 901 million, up 17.4%; exports to Latin America were USD 778 million, up 16.6%; exports to Europe were USD 299 million, up 4.1%; and exports to Oceania were USD 13.39 million, up 39.7%. The only continent with a decline in exports was North America, with exports amounting to USD 45.38 million, a year-on-year decrease of 6.1%.

In terms of export countries and regions, from January to December 2024, Turkey was the largest export country for Chinese motorcycles, with an export value of USD 237 million, followed by Togo and the Philippines, with export values of USD 191 million and USD 1.9 billion, respectively.

From January to December 2024, the export value of motorcycles to Turkey increased by 83.77% year-on-year. The reasons for this significant growth include the rapid expansion of Turkey's motorcycle market in recent years, with motorcycle sales increasing by 57.3% from 2019 to 2023. In 2024, the number of motorcycles in Turkey surpassed 3.2 million units, securing the fifth position in Europe, which highlights the strong demand for motorcycles in the country. Amid global inflation, the cost advantages of Chinese motorcycles have become increasingly evident, especially in terms of price competitiveness. This has enabled Chinese motorcycles to capture a larger market share in Turkey.

From the perspective of major exporting provinces and cities, the top five provinces and cities in terms of export value were Guangdong, Chongqing, Jiangsu, Zhejiang, and Fujian, which together accounted for 94.81% of the total exports. Following them were Shanghai, Henan, Beijing, Jilin, and Shandong, with export values of USD 61.59 million, USD 25.46 million, USD 17.33 million, USD 14.5 million, and USD 11.83 million, respectively.

With the growing popularity of motorcycle culture and the gradual relaxation of restrictions on motorcycle use, motorcycles, as means of transportation and leisure, will be favored by more consumers. Meanwhile, continuous innovation and product upgrades are expected to bring more development opportunities to China's motorcycle industry.

However, Chinese motorcycle companies also face multiple structural challenges, such as stricter environmental regulations, the ripple effects of EU anti-dumping and anti-subsidy investigations, competition in the Indian market, and fluctuations in raw material prices and supply chain risks. For motorcycle companies, it is essential to monitor the latest changes in international trade data for motorcycles and achieve value enhancement through brand premiumization, technological self-reliance, and service ecosystem development. Only by finding a balance amidst the interplay of "crisis" and "opportunity" can they gain a preemptive advantage in the global industrial restructuring.

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