Published in Top Brands category by MBA Skool Team
In this article, we have prepared a list of top bike brands in the world 2023 based on revenue. The top bike brands have constantly been on a growth path having a global footprint across continents. Top Bike companies have focused on innovation, fuel efficiency, features, stylish looks etc. All the companies have a strong distribution network globally and ensure good customer satisfaction through after sales services also. Pandemic year has affected the sales of the bike and two-wheeler brands with all the brands seeing drops in revenue and units sold.
Top Bike (Motorcycle) Brands 2023 by Revenue:
The best bike brands in world include brands like Honda, Yamaha, Here Moto Corp, Bajaj followed by TVS, Suzuki, Royal Enfield etc. Here is a list of the top 10 bike companies in the world 2023.
Honda Motors Company Ltd has grown up to become world’s largest motorcycle manufacturer in addition of also holding one of the leading positions in automotive industry.
At present, the company has set up its production facility in 22 countries with 33 production plants.
Honda manufactures a big product portfolio from small scooters to large touring bikes. One of the most popular models is the Honda CB750, which was manufactured in 1960s and is widely regarded as the world's first superbike.
Honda's motorcycle lineup also includes a range of sport-bikes, cruisers, and adventure bikes. The CBR series of sport-bikes are known for their high performance and cutting-edge technology, while the Gold Wing is a popular touring bike that is favored by long-distance riders.
One of the main features of Honda motorcycles is their reliability and it has a reputation for producing bikes that are well-built, easy to maintain, and designed to have a long life. Honda motorcycles also have a strong focus on safety. Many Honda models come equipped with advanced safety features such as ABS brakes, traction control, and airbags. Honda has also been a leader in developing new technologies for motorcycle safety, such as their Riding Assist technology, which helps riders maintain balance at low speeds. Overall, Honda motorcycles are known for their quality, reliability, and safety.
Honda is ranked 1 in the list of top bike brands.
Revenue (million $): 16300
Rank 2. Harley Davidson
Harley Davidson is a USA based Company, which has made significant contributions in the field of motorcycles.
Image: company website
The company was founded in the year 1903 in the city of Wisconsin and since then become a cult motorcycle brand.
Harley Davidson has become synonymous with American motorcycle culture, and its bikes are instantly recognizable around the world. The brand has a loyal fan base, and its motorcycles are known for the brand's heritage, style, and performance. Harley-Davidson produces a wide range of motorcycles, from cruisers to touring bikes. One of the most popular models is the Harley-Davidson Sportster. Harley-Davidson's motorcycle lineup also includes a range of touring bikes, such as the Electra Glide and the Road King.
The company has built a strong brand around its bikes, with a focus on American heritage, freedom, and rebellion. The brand also focuses on customization as per customer needs. Harley-Davidson has a range of accessories and parts that allow riders to customize their bikes to their liking. The company also offers a range of customization services, including custom paint jobs, engine upgrades, and custom seats.
Rank 3. Bajaj Auto
Bajaj Auto is an India based manufacturing company having its headquarter in Pune, India.
Image: company website
Indian brand Bajaj Auto has a strong reputation for producing superior quality motorcycles which are reliable as well as popular with riders in India and globally. The company is known for its popular Pulsar line of sportbikes, which are known for their performance and cutting-edge technology. The Pulsar line includes a range of models based on engine, performance & accessories. Apart from Pulsar, Bajaj Auto produces a range of other motorcycle models, including the Avenger cruiser, the Dominar sports tourer, and the CT commuter bike.
Innovation and R&D is one the main objectives of Bajaj Auto brand. The brand has been a leader in the development of new technologies for motorcycles, including the DTS-i technology, which improves fuel efficiency and performance. The brand has a strong global reach across more than 70 countries. Bajaj Auto has also focused on environmental sustainability via development of electric and hybrid vehicles. On the whole, Bajaj Auto is a highly respected motorcycle manufacturer with a strong reputation for innovation, quality, and reliability.
Revenue (million $): 4150
Rank 4. Hero Moto Corp
Hero is one of the biggest brand in Indian market having around 40% of the market share in the two-wheeler market and more than 50 percent market share in motorcycle market in India.
Image: company website
The company in total has six manufacturing facilities, out of which five is in India and one is in Columbia. Further, the company is also expected to start its seventh manufacturing plant in Bangladesh & has expanded its global presence in 35 different countries and it continues to grow. The company’s leadership lies in the 100-125cc motorcycles. However, the company is trying to get into the premium segment which has seen a rise by about 20$ the previous year. Owing to the local political and economic factors, the exports of two-wheelers saw a decline by about 5.9%. The company is specifically targeting countries like Nepal and Bangladesh which has been showing a double-digit growth continuously. In Bangladesh specifically, the entry level motorcycles are in high demand and hence the move of the company to open a manufacturing facility there is justified. The company, in a recent move, has come up with the initiative of “Fight fake, be safe” to fight the menace of spurious parts. To come into the motorsport map, the company has partnered with Speedbrain Gmbh which is a German off-road racing specialist. The company has also also associated itself with Global Golf events and came up with Her Challenge at the British master’s last year. The company has ventured itself into E-mobility by partnering with Ather Energy which is a start-ups in the two-wheeler EV space. Hero is one of the best bike brands in India and also globally.
Revenue (million $): 3600
Rank 5. KTM
KTM AG is a renowned name in the powersports vehicles where it has a reputation of producing innovative and trend-setting vehicles on a regular basis.
It is a premium manufacturer of high-performance motorcycles for both off-road and street use, and the company has its headquarter and research and development center in Mattighofen, Austria.
Austria based KTM bikes is known for manufacturing high-performance motorcycles that are popular with riders around the world. KTM's bikes are known for their cutting-edge technology, pioneer engineering, and racing performance history. One of the most popular models is the KTM 390 Duke, which is a genuine sportbike that is known for its performance and handling. KTM's lineup also includes a range of off-road bikes, such as the KTM 250 EXC-F and the KTM 450 SX-F. Another popular model in KTM's lineup is the KTM 1290 Super Duke R.
The company has a long history of success in off-road racing, and its bikes are designed with racing in mind. Another focus area of KTM is its investment towards R&D and innovation. KTM was one of the first motorcycle manufacturers to incorporate electronic fuel injection. KTM is a highly respected motorcycle manufacturer with a strong reputation for performance, engineering, and racing heritage.
Revenue (million $): ~2600
Rank 6. TVS
TVS Motor Company is the largest company among the 90 companies of the TVS group in terms of size and revenue.
Image: company website
TVS group comprises of the companies dealing in the areas of finance, automobiles, aviation, education, insurance, electronics, textiles, investment, housing, services and logistics. The company is the third-largest two-wheeler manufacturer in India, and is a global leader in motorcycles. TVS Motors has recorded a double-digit growth both in sales as well as revenue of its motorcycles and two-wheelers divisions. Having been ahead of the industrial performance for three consecutive years, the company is raising bars for itself and its competitors every year. The company has a production capacity of 3.2 million every year. The company produces its vehicles from three major manufacturing sites, three out of which are in India, one each in Tamil Nadu, Karnataka and Himachal Pradesh while the fourth facility is in Indonesia. The company credit its high growth rate to its continuous commitment to innovation. It achieved a rare feat of launching seven new products on the same day. In 2018, the company launched TVS Ntorq 125 which is India’s first scooter with Bluetooth and smart connectivity. The company has a strong focus on quality improvement with daily works management, Total Quality Management, Total Employee Involvement Program, Kaizen to name a few. The company has also taken multiple initiatives in providing a cleaner and greener product. The company claim to have all its products 85% recyclable. The company was also the first to use a catalytic converter in its bike. Moving ahead, the company are looking towards launching electric scooters and the three-wheelers fitted with CNG and LPG options.
Revenue (million $): 2520
Rank 7. BMW
BMW AG is the parent company of BMW group which is a global leader in cars & motorcycles.
The company is based in Munich, Germany and its area of business lies mostly in Automobiles, Engines, products of machinery and Metal Working Industry as well as it deals in the services of them all. Its three major segments include automotive, motorcycle and financial services. The company employs around 1.3 lacks people and operates in more than 150 countries all around the world. In the motorcycle business, the company operates with the brand, BMW Motorrad. The company operates in the premium segment of the global motorcycle sector with 250 cc plus models such as Sport, Tour, Roadster, Heritage, Adventure and Urban Mobility. This segment helps it in generating a higher revenue even with a lesser unit of sales. The motorcycle division of BWM, Motarrad saw a significant rise in its sales number and the revenue it generated for the company. For the first time, the company was able to cross the 150000 mark in its sales volume. It was able to reach a figure of 1,64,153 from 1,45,032 when compared with the previous year. This is a significant 13.2% rise. This increase in sales was because of the dynamic rise in the motorcycle sale sin the Europe market with France having 24.4% jump in its sales volume making it one of the top bile brands. Italy and Spain also witnessed a double-digit growth. However, there was a drop in the sales in USA. The period witnessed a launch of six new motorcycle models and five revised models by the company.
Revenue (million $): 2200
Rank 8. Piaggio
Piaggio Group is an Italian based company headquartered in Pisa, Italy.
Image: company website
The company also has a research and development center in California, USA by the name Piaggio Group Advanced Design Center. Piaggio group is one of the largest European Manufacturer of two-wheelers specializing in the product range of scooters, motorcycles and mopeds in the segment of 50 to 1400cc. The important brands and products it operates in are Aprilia, Moto Guzzi, Vespa, Piaggio, Derby and Scarabeo. Besides two-wheeler segment, the group also has a product range in three-wheeler and four-wheeler commercial vehicle segment with its model Ape, Quargo and Porter. The Piaggio group also has a 45% ownership in a Chinese company named Zongshen Piaggio Foshan Motorcycles. The company does not use the data from this joint venture In the Group’s financial result. This makes it one of the top bike brands worldwide. In the European market, the company relies on Aprilia and Moto Guzzi to improve sales and profitability in the European and North American market. In India, it is using Vespa range to penetrate further into the market. The company has gained a 9.3% increase in the total sale of its two-wheeler accounting for its total net sale to reach 3,76,000 units. This has accounted for a total revenue of $1,176 billion which is 3.7% rise from the previous year. In the motorcycle racing, Aprilia has established itself as one of the most successful brands in the history having won 54 world titles till date, 38 out of them are in world championships, 7 in superbikes and 9 in off-road disciplines and hence is one of the best bike brands in the world.
Revenue (million $): ~2100
Rank 9. Royal Enfield
Eicher Motors Limited is one of the leaders in the Indian Automotive space.
The company is having its area of operations in commercial vehicles, motorcycles through Royal Enfield brands well as in personal utility vehicles. Royal Enfield is one of the oldest motorcycle brands in continuous production and is now a leader in the premium motorcycle segment in India with a share of 95% in the mid-size motorcycle market segment (250cc-750cc). With five models namely Bullet, Classic, Thunderbird, Continental GT and Himalayan, the company the company was able to make a sale of 8,20,493 the previous year which is a huge 23 percent jump from its previous performance. In the same period the company generated a revenue of $1,440 million from the motorcycle segment which is more than 23% rise from its previous year performance. Besides India, the company has started exploring its base in the countries like Colombia, Indonesia and Thailand where the motorcycle industry is in the same line as the Indian Market. The company has also tied-up with Flipkart to sell its complete range of gear and accessories through e-commerce. In international markets, the company’s motorcycles are sold through 568 dealerships across 46 countries along with 25 exclusive stores across 13 countries and two direct subsidiaries in North America and Brazil. Rider Mania is the Royal Enfield’s marquee riding festival had its 14th edition held in Vagator (Goa), which witnessed a participation of 6,000+ riders, media and influencers from across the country. Besides, the company also has “One Ride” which has become one among the world’s largest community rides organized by Royal Enfield every year in April. Enfield mainly in India is still fighting for its rank in best bike brands list.
Revenue (million $): 1100
Rank 10. Suzuki
Suzuki Motor Corporation is a Japanese Automobile company headquartered in Minami-ku, Hamamatsu.
The company’s major market segment includes Automobiles, Motorcycles, marines and Power Products. In the motorcycle segment, the company focuses on the 150cc and upwards segment in addition to the sports categories. The group deals in the motorcycles ranging from large-engine displacement to small engine displacement. The company operates through its subsidiaries such as Thai Suzuki Motor Company Ltd for the manufacturing of motorcycles in overseas, Suzuki Auto Parts Manufacturing Company Ltd. for the manufacturing of parts, Suzuki Motorcycle Sales Inc for the marketing of its motorcycles in the domestic market and Suzuki Deutschland GmbH for the marketing of motorcycles in the overseas market. The company witnessed a decline both in its production and sales of motorcycles worldwide with sale going down by 9% while revenue seeing a fall by 11.8% in the same period. The domestic market of Japan saw an overall reduction in motorcycle sales by 6% the previous year with Suzuki managing a rise in sale by 3% in the same period. As is the case with other brands, motorcycle market in Europe saw a rise which has impacted positively on all motorcycle brands including Suzuki. North American market saw a decline and Suzuki sale was no exception. The ASEAN market sale saw a flat figure with some of its nation like India saw a rise in the sale while China witnessed a decline. Suzuki has made a return to the motorcycle racing in 2015 and since then has been developing programs to compete at the highest level and making itself a top bike brand.
Revenue (million $): ~600
Ranking Methodology for top bike brands:
1. The leading bike manufacturing companies are considered.
2. Parameters like revenues were considered
3. A final score is calculated and the ranks are evaluated.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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