The On-road Motorcycles market in Portugal has been experiencing significant growth in recent years.
Customer preferences: Portuguese consumers have shown a growing preference for on-road motorcycles due to their versatility, fuel efficiency, and affordability. On-road motorcycles are popular among both urban and rural residents, as they are well-suited for commuting in congested cities and navigating through narrow country roads. Additionally, the sporty design and performance capabilities of on-road motorcycles appeal to younger consumers who value style and speed.
Trends in the market: One of the key trends in the on-road motorcycles market in Portugal is the increasing demand for electric motorcycles. As environmental concerns and sustainability become more prominent, consumers are seeking alternative modes of transportation that have a smaller carbon footprint. Electric motorcycles offer a greener and more eco-friendly option compared to traditional gasoline-powered motorcycles. The availability of government incentives and subsidies for electric vehicles has further fueled the growth of this segment in Portugal. Another trend in the market is the rise of online sales channels. With the increasing penetration of internet and smartphones, consumers are increasingly turning to online platforms to research and purchase on-road motorcycles. Online sales channels provide convenience, a wide range of options, and competitive pricing, attracting a growing number of consumers who prefer the ease of online shopping.
Local special circumstances: Portugal's favorable climate and scenic landscapes make it an ideal destination for motorcycle enthusiasts. The country's winding roads and coastal routes offer thrilling riding experiences, attracting both domestic and international tourists. The tourism industry plays a significant role in driving the demand for on-road motorcycles, as visitors often rent motorcycles to explore the country's natural beauty. This has created a niche market for rental services and guided motorcycle tours.
Underlying macroeconomic factors: The economic stability and improving purchasing power of Portuguese consumers have contributed to the growth of the on-road motorcycles market. As the country recovers from the financial crisis, disposable incomes have increased, allowing more individuals to afford motorcycles. Furthermore, favorable financing options and low-interest rates have made it easier for consumers to purchase motorcycles, stimulating demand in the market. In conclusion, the on-road motorcycles market in Portugal is experiencing growth due to customer preferences for versatile and affordable transportation options. The increasing demand for electric motorcycles and the rise of online sales channels are notable trends in the market. Portugal's favorable climate and tourism industry also contribute to the demand for on-road motorcycles. Overall, the market is supported by the country's economic stability and improving purchasing power.
Data coverage:
Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.Modeling approach / Market size:
Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.Additional Notes:
The market is updated once a year.
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