MARKET INSIGHT – Motorcycle, Bicycle and Parts Manufacturing
NACIS 336991 | $6,950,898,000
by Joe Jackson
Marketing & Events Assistant, PMPA
Published June 1, 2022
The consumer market for motorcycles and bicycles is growing at a rapid pace. Dual- purpose motorcycles (street and off-road) sales grew 22% from 2019-2021 with a 45% uptick for bicycles from 2019 to 2021. This growth streak is forecasted to continue due to the increasing demand for electric bikes that have adapted cutting edge technology which makes these vehicles safe, comfortable and modern as well as bicycling becoming a fast-growing hobby among the younger generation.
Top 5 Companies
- Harley-Davidson Inc., WI
- Varroc Lighting Systems Inc., MI
- Fox Factory Holding Corp., CA
- Sram LLC, IL
- BRG Sports Inc., IL
- The components that precision machining shops manufacture provide essential functionality so that the motorcycle, bicycle and parts manufacturing industry’s products have reliable working parts. Precision machining makes the parts that make these work safely.
- If precision machining products are only 1% of this industry’s spending, that would equate to $37 million in sales opportunity in NAICS 336991 for our precision machining shops.
- The motorcycle, bicycle and parts manufacturing industry is one of precision machining’s most concentrated markets served. Of the 353 companies verified in this NAICS Code, the top company, Harley-Davidson makes up 82% of sales in this industry.
- The motorcycle, bicycle and parts manufacturing industry spend is $3.7 billion on materials, components, supplies, minerals and machinery.
- The precision machined products manufacturing industry sales are three times that of the motorcycle, bicycle and parts manufacturing industry.
Source: U.S. Census, NAICS.com, Fortunebusinessinsights.com