Motorcycles - Croatia

Croatia

Highlights

In 2024, the projected revenue in the Motorcycles market in Croatia is expected to reach US$35.75m.
This revenue is anticipated to show an annual growth rate (CAGR 2024-2029) of 5.36%, resulting in a projected market volume of US$46.41m by 2029.
The largest segment in the Motorcycles market in Croatia is On-road Motorcycles, with a projected market volume of US$26.22m in 2024.
The unit sales of Motorcycles market in Croatia are expected to reach 4.30k motorcyles by 2029.
The volume weighted average price of Motorcycles market in Croatia in 2024 is expected to be US$10.68k.
Among the various motorcycle brands, Honda Motorcycles is projected to have the highest market share in Croatia with a motorcycle unit sales share of 16.4% in 2024.
Furthermore, the value market share of Honda Motorcycles in Croatia is expected to stand at 16.8% in 2024.
From an international perspective, it is shown that the most revenue in the Motorcycles market will be generated India, with a projected revenue of US$32.11bn in 2024.
Croatia's motorcycle market is experiencing a surge in demand for electric motorcycles, reflecting the country's commitment to sustainability and eco-friendly transportation solutions.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Croatia has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Croatian customers have shown a growing preference for motorcycles due to their convenience, affordability, and fuel efficiency. Motorcycles are particularly popular among younger consumers who are seeking a cost-effective mode of transportation in urban areas. Additionally, the thrill and freedom associated with riding motorcycles have also contributed to the increasing demand.

Trends in the market: One of the key trends in the Croatian motorcycles market is the rising popularity of electric motorcycles. As consumers become more environmentally conscious, there is a growing demand for eco-friendly transportation options. Electric motorcycles offer a clean and sustainable alternative to traditional petrol-powered bikes, and their sales have been steadily increasing in Croatia. Another trend in the market is the growing popularity of adventure motorcycles. These motorcycles are designed for both on-road and off-road use, making them suitable for exploring Croatia's diverse landscapes. The country's natural beauty and the increasing popularity of adventure tourism have contributed to the rising demand for these motorcycles.

Local special circumstances: Croatia's geography and climate make it an ideal destination for motorcycle enthusiasts. The country offers a variety of scenic routes and winding roads that attract both local and international riders. The popularity of motorcycle tourism has further boosted the demand for motorcycles in Croatia.

Underlying macroeconomic factors: Croatia's improving economy and rising disposable incomes have also played a significant role in the growth of the motorcycles market. As more people have the financial means to afford motorcycles, the demand has increased. Additionally, favorable financing options and low interest rates have made motorcycles more accessible to a wider range of consumers. In conclusion, the motorcycles market in Croatia is experiencing growth due to customer preferences for affordable and fuel-efficient transportation, the popularity of electric and adventure motorcycles, the country's appeal for motorcycle tourism, and the improving macroeconomic conditions. As these factors continue to drive demand, the market is expected to further expand in the coming years.

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.