Researchers predict biking boom
Added on Friday, February 12th, 2010 by Carole Nash Editor | 3 Comments
Researchers predict biking boom
Research firm Mintel is predicting that the UK motorcycle and scooter industry is set for a boost over the next five years, with strong sales expected as government and local authorities look to introduce congestion cutting measures.
With local authorities increasingly considering congestion charging, increased parking charges and more complex road networks in an attempt to reduce congestion, as well as government initiatives such as road charging and VED linked to CO2 emissions being considered by government bodies, the motorcycle industry could be see a surge in new and returning riders according to researchers.
It’s believed that the industry could grow as much as 60% in the next five years alone. Despite a 21% collapse in new bike sales in 2009, sales of new machines are predicted to reach £895 million by 2014 while volume sales will increase by 41%, with bike units set to rise to 157,300 in 2014 – up from 111,500 in 2009. Between 1998 and 2008, the number of motorcycles and scooters in use increased by a staggering 71% compared with just a 24% increase in the number of cars.
The “celebrity” factor has also been highlighted, following the success of TV documentaries such as “Long Way Down”.
“This upsurge in demand for motorcycles suggests that some people are escaping the ravages of the UK recession on two wheels, inspired by the prospect of the kind of adventure that has been shown in recent television documentaries,” said Robert McNab, senior automotive analyst at Mintel. The mainstay of the market over at least the past decade has been lapsed or former motorcycle owners returning to the market. Principally aged over 35 and owning a car as well, lapsed owners have returned to the market purchasing generally either a new or used supersports bike for leisure weekend riding rather than as daily personal transport.”
The research also highlights a core number of aspiring riders, with 18% of adults who currently own a motorcycle being lapsed riders. Furthermore, 12% of adults who previously owned a motorcycle or scooter would like to own one again.
“The advent of returner bikers, many of whom remember fondly the British, European or Japanese bikes they owned when they were younger, has meant that nostalgia is an important determinant of demand in the motorcycle market,” he added. “This could particularly benefit sales of two British motorcycle brands – Triumph and the recently relaunched Norton brand with its new Commando model.”
Schemes to encourage motorcycle usage, such as “Get On”, are also proving to be a success, with as many as 13% of adults who have never owned a motorcycle or scooter before claiming that they like the idea of owning one. Those who have never owned but like the idea of owning a motorcycle or scooter are generally aged under 35 but with a high proportion of 16-24 year olds.
“Leaving college with debts averaging around £6,500 will limit young riders’ ability to finance a new machine, especially a large capacity motorcycle once they’ve passed their test. In the short term the solution is likely to be a second-hand scooter or small capacity motorcycle,” McNabb added
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3 Comments
Marty
February 12th, 2010More chance see a nun naked in a convent, where do they they do their research, China.
Fact; there are several small cars that a cheaper to tax than most bikes, so why do they use VED / Co2 link as a factor.
Norton’s will be so expensive, who will have the spare cash to splash out on one of these.
Parking charges; Motorcycles are now being hit with this, and free parking for motorcycles will slowly disappear.
What planet do these researchers live on, because it isn’t on this one.
Alastair
February 15th, 2010Totally agree. Mintel are so out of touch with the UK motorcycle market it is laughable. If they asked a selection of 100 motorcycle dealers and importers what is going on, instead of using data from a few home survey respondents, keen to obtain some free M&S vouchers, that would be a start. The under 25s see motorcycling as an uncool – and expensive – pastime that their fathers and grandads do – that is the core of the problem in the long term.
carole
February 26th, 2010Whilst I would like to believe this prediction is true, I also think the research and argument for are flawed. Having said that, I also do not agree with Alastairs’ statement “The under 25s see motorcycling as an uncool – and expensive – pastime that their fathers and grandads do – that is the core of the problem in the long term.” We are seeing an increase in younger motorcyclist, not the other way around.