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The global three-wheeled motorcycle industry is being aided by the growing demand for improved vehicle safety owing to the growing incidences of motorcycle collisions. Ageing or veteran bikers, who suffer from aching knees, joints, and muscles prefer these motorcycles as they are super-steady and relatively safer. To cater to this growing demand, the manufacturers are promoting the safety and comfort of three-wheeled motorcycles. Many shops are even offering motorcycle-to-trike conversion services, along with trike conversion kit packages, OEM parts, and aftermarket parts. With the leading players such as Harley-Davidson, Polaris, and Can-Am jumping on the bandwagon to provide customers with not only safe but premium three-wheeled motorcycles, the product is currently experiencing a surge in popularity.
The growing demand for automatic-driving experience without the need for clutching or manual shifting is pushing manufacturers to develop enhanced technology. In July 2020, Polaris Industries, Inc. (NYSE: PII) introduced its newest model, the Grand Touring LE to the Polaris Slingshot 2020 lineup, which is designed to deliver next-level comfort, style, and design, along with AutoDrive transmission, thus providing customers with a premium experience. Moreover, the growing investments by the companies to promote their products and enhance their global reach will also aid the market growth. In September 2019, Harley-Davidson Inc (NYSE: HOG) announced that the company is planning to focus investment and build new capabilities to amplify its brand power and attract riders, further strengthening its long-term objective to build the next generation of riders. Such developments are expected to enhance the sales volume of three-wheeled motorcycles, thus, accelerating the industry growth.
Market Breakup by Wheel Position, Type, Engine, and Regions:
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The major players in the global three-wheeled motorcycle market are Honda Motor Co., Ltd., Yamaha Motors Co., Ltd., Harley-Davidson, Inc., Polaris Industries, Inc., Bombardier Recreational Products Inc., and Piaggio & C. S.p.a, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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