While the global passenger vehicle market is dominated by the industry giant Toyota, the global motorcycle segment appears to be led by Honda.

According to a report from Japan Times, Honda’s global motorcycle sales are projected to reach 20.2 million units for the fiscal year ending in March this year.

This means that Honda currently holds as much as 40 percent of the global motorcycle market share!

This development is supported by strong demand from several markets, including India, Indonesia, the Philippines, Brazil, and several countries in Central and South America.

Honda is also determined to increase its market share target to 50 percent, which will include electric motorcycles, with total sales aiming to hit 60 million units by 2030.

To achieve this, a new assembly plant dedicated to electric-powered motorcycles will be established in India and is set to begin operations in 2028.

As part of a serious drive toward electrification, the manufacturer also plans to launch up to 30 electric models in order to reach an annual sales target of four million units for electric motorcycles (EVs) by 2030.

Other initiatives in the pipeline include developing battery usage and recycling, reducing e-bike costs, ensuring that existing facilities are more environmentally friendly, and further expanding the network of existing battery-sharing and swapping stations.

To date, Honda operates 37 assembly facilities across 23 countries.