The On-road Motorcycles market in Worldwide has been experiencing significant growth in recent years, driven by several key factors.
Customer preferences: One of the main reasons for the growth in the On-road Motorcycles market is the changing preferences of customers. With increasing urbanization and traffic congestion in many countries, more people are opting for motorcycles as a convenient and agile mode of transportation. Motorcycles offer the advantage of maneuverability in crowded city streets, allowing riders to navigate through traffic more easily. Additionally, motorcycles are often more fuel-efficient than cars, making them an attractive option for cost-conscious consumers.
Trends in the market: A major trend in the On-road Motorcycles market is the rising demand for electric motorcycles. As concerns about environmental sustainability and the impact of fossil fuels grow, consumers are increasingly looking for alternative modes of transportation. Electric motorcycles offer a greener and more sustainable option, as they produce zero emissions and can be charged using renewable energy sources. This trend is particularly strong in developed countries, where environmental consciousness is high and government incentives for electric vehicles are in place. Another trend in the market is the growing popularity of adventure motorcycles. Adventure motorcycles are designed for both on-road and off-road use, making them versatile for a wide range of riding conditions. This appeals to consumers who enjoy long-distance touring or off-road adventures, as they can easily switch between different terrains. Adventure motorcycles also often come equipped with advanced technology and features, such as GPS navigation systems and advanced suspension systems, further enhancing their appeal to riders.
Local special circumstances: In different regions, there are local special circumstances that influence the On-road Motorcycles market. For example, in Southeast Asia, motorcycles are a popular mode of transportation due to their affordability and ability to navigate through congested city streets. In countries like Vietnam and Indonesia, motorcycles are the primary means of transportation for many people, leading to a large market for entry-level motorcycles. In contrast, in Western countries like the United States and Europe, motorcycles are often seen as recreational vehicles rather than primary modes of transportation. This leads to a higher demand for larger, more powerful motorcycles designed for long-distance touring or sport riding. Additionally, in these regions, there are often stricter regulations and safety standards for motorcycles, influencing consumer preferences and the types of motorcycles available in the market.
Underlying macroeconomic factors: The growth of the On-road Motorcycles market is also influenced by macroeconomic factors. Economic growth and rising disposable incomes in emerging markets have led to an increase in consumer spending on leisure activities, including motorcycles. Additionally, low-interest rates and favorable financing options have made motorcycles more affordable and accessible to a wider range of consumers. Furthermore, government policies and regulations play a significant role in shaping the On-road Motorcycles market. In some countries, governments provide incentives and subsidies for the purchase of electric motorcycles, driving the demand for these vehicles. On the other hand, stricter emissions standards and safety regulations can impact the types of motorcycles available in the market and influence consumer preferences. In conclusion, the On-road Motorcycles market in Worldwide is experiencing growth due to changing customer preferences, including the demand for electric motorcycles and adventure motorcycles. Local special circumstances and underlying macroeconomic factors also contribute to the development of the market in different regions. As urbanization and environmental concerns continue to increase, the demand for motorcycles as a convenient and sustainable mode of transportation is expected to grow further.
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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