During the forecast years, 2022 to 2032, Sales of used bikes through bike marketplaces are expected to expand at a moderate rate of 4.8 percent. By the year 2032, the bike market’s net worth is predicted to have increased from US$ 1.53 billion in 2021 to US$ 2.5 billion.
Customers profit from the used bike industry since they are less expensive and require less maintenance than freshly produced bikes. Furthermore, it is claimed that one of the key determinants of the expansion of the used bike market trends to some degree is the deterioration of traffic conditions. Additionally, the increasing number of people who travel to work every day in cities is indirectly increasing used bike sales by providing chances for dealers in the bike sector.
Sales of used bikes through bike marketplaces tend to be the most popular used bikes sold through online bike marketplaces because they provide sellers with a higher profit margin after the sale. This bigger commission cut for market participants during the process has also increased OEM involvement in the sales of old motorcycles through marketplaces.
The regulatory restrictions imposed by the public administration regarding the environmental effects of outdated autos are also clarified by this new market research report on the sales of old bikes through the bike marketplace. Numerous regulatory agencies have established regulations for the control of vehicular emissions throughout any vehicle’s lifetime. In turn, this regulation may be a significant obstacle to the expansion of the bike market during the forecast period.
Some of the market key players include Droom, CredR, Bikedekho, Bikewale, Mahindra First Choice, Bikers Highway, OLX, Quicker, Use Motorcycle Store, and Bicycle Bluebook among others.