Honda Targets 50% Global Motorcycle Market Share By 2030; To Open EV Motorcycle Factory In India By 2028
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Honda Motor, the global leader in motorcycles, has laid out an ambitious roadmap for the future, encompassing market expansion, product innovation, and a definitive push toward electrification. The company aims to solidify its dominance by increasing its market share, expanding sales in key regions, and reaching the historic milestone of 500 million cumulative motorcycle sales by 2025.
For the fiscal year ending March 31, 2025, Honda is on track to sell 20.2 million units, maintaining an estimated 40 per cent global market share. Asia remains Honda’s most dominant region, contributing 85 per cent (17.17 million units) of its total sales, with India, Indonesia, Thailand, and Vietnam being key drivers. Meanwhile, Japan, Europe, and the U.S. collectively account for 6 per cent (1.2 million units). Notably, in 2024, Honda set all-time sales records in 37 countries and territories.
Expanding Market Presence in the Global South
With global motorcycle sales projected to grow from 50 million to 60 million units by 2030, Honda is focusing on expanding its footprint in the “Global South,” particularly in India, Indonesia, the Philippines, Brazil, and other Latin American markets.
India, the world’s largest motorcycle market, remains a crucial battleground. Honda has built a formidable lineup catering to diverse customer needs, featuring best-selling models like the Activa scooter, Dio for young riders, Shine for rural users, and SP as a premium commuter option. The company is enhancing its dealership network and automating production plants to further increase its market share. Additionally, Honda plans to export high-value Indian-manufactured motorcycles to South America, capitalising on similar customer demands.
Beyond India, Honda foresees increasing demand in Pakistan, Bangladesh, and ASEAN countries, driven by growing working-class populations. The company is strategically leveraging its robust sales and service networks to strengthen its position in these regions.
Dominating the European Fun Motorcycle Market
In Europe, where large-size “Fun” motorcycles dominate, Honda continues to enhance its lineup with popular models like the CB, CBR, Africa Twin, and Rebel series. The revival of legacy brands such as Hornet and Transalp has also been instrumental in maintaining Honda’s market leadership in Italy, Germany, France, Spain, and the UK.
Honda is investing in advanced technologies to enhance the riding experience, including Dual Clutch Transmission (DCT) and Honda E-clutch. The company is also developing the world’s first motorcycle V3 engine equipped with an electric turbocharger, with plans for mass production.
Accelerating Toward Carbon Neutrality
Aiming for carbon neutrality in the 2040s, Honda is advancing both electric and internal combustion engine (ICE) models. The company has launched multiple initiatives under its “Triple Action to Zero” strategy, focused on carbon neutrality, clean energy, and resource circulation.
Electrification and Battery Infrastructure
Honda has set a target of selling 4 million electric motorcycles annually by 2030, with 30 new electric models in the pipeline. As of 2024, 13 electric models have already been launched.
Key recent developments include:
To support its electric push, Honda is establishing a robust charging and battery-swapping network. Its subsidiary, Honda Power Pack Energy India (HEID), is launching Honda e:Swap services in Bengaluru, Delhi, and Mumbai to eliminate range anxiety for users.
Reducing Cost of Ownership for EVs
A key challenge in EV adoption is the Total Cost of Ownership (TCO). To address this, Honda plans to establish a dedicated electric motorcycle plant in India by 2028. The facility will leverage modular production, reducing costs while increasing efficiency. Additionally, Honda is collaborating with battery manufacturers to ensure stable procurement and localised battery development.
Battery Recycling and Second-Life Usage
Honda is committed to sustainable resource usage, including repurposing used batteries. In India, the company has partnered with OMC Power to use second-life Honda Mobile Power Packs for rural electrification, providing power to schools and local businesses in off-grid areas.
Green Manufacturing and Sustainability Initiatives
Honda is also reducing its environmental impact through various corporate sustainability initiatives:
By 2030, Honda aims to capture a 50 per cent global market share, ensuring that its motorcycles continue to be the preferred choice for millions worldwide.