Motorcycles - Czechia

Czechia

Highlights

The Motorcycles market in Czechia is projected to generate a revenue of US$293.10m in 2024.
It is expected to experience an annual growth rate of 9.22% (CAGR 2024-2029), leading to a market volume of US$455.50m by 2029.
Among the various segments, On-road Motorcycles is anticipated to be the largest with a projected market volume of US$231.20m in 2024.
The unit sales of Motorcycles market are expected to reach 38.19k motorcyles by 2029.
In 2024, the volume weighted average price of Motorcycles market is predicted to be US$11.75k.
Honda Motorcycles is expected to have the highest market share in the selected region, accounting for 24.6% of motorcycle unit sales in 2024.
Additionally, the value market share of Honda Motorcycles in the selected region is projected to be 23.1% in 2024.
From an international perspective, India is forecasted to generate the highest revenue in the Motorcycles market, amounting to US$32.11bn in 2024.
Czechia's motorcycle market is experiencing a surge in demand for electric bikes, as consumers prioritize eco-friendly transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Czechia 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: In Czechia, motorcycles are popular among a wide range of consumers, including both young and older riders. Many people are attracted to the freedom and thrill that motorcycles offer, as well as the lower cost of ownership compared to cars. Additionally, motorcycles are often seen as a more convenient mode of transportation in urban areas with heavy traffic congestion.

Trends in the market: One of the key trends in the Czechia motorcycles market is the increasing demand for electric motorcycles. With growing concerns about environmental sustainability and rising fuel prices, consumers are becoming more interested in electric vehicles as an alternative to traditional gasoline-powered motorcycles. This trend is in line with the global shift towards electric mobility. Another trend in the market is the rising popularity of adventure motorcycles. These motorcycles are designed for both on-road and off-road use, appealing to riders who enjoy exploring different terrains and going on long-distance trips. The adventure motorcycle segment has been witnessing significant growth, with manufacturers introducing new models to cater to this demand.

Local special circumstances: Czechia has a strong motorcycle culture, with a number of motorcycle clubs and events taking place throughout the year. This has created a sense of community and camaraderie among motorcycle enthusiasts, further fueling the demand for motorcycles in the country. Additionally, the country's beautiful landscapes and well-maintained road infrastructure make it an ideal destination for motorcycle tourism, attracting riders from both domestic and international markets.

Underlying macroeconomic factors: The overall economic stability and increasing disposable income in Czechia have played a significant role in the growth of the motorcycles market. As people have more purchasing power, they are more likely to invest in recreational vehicles such as motorcycles. Furthermore, the availability of easy financing options has made motorcycles more accessible to a larger segment of the population. In conclusion, the motorcycles market in Czechia is experiencing steady growth due to customer preferences for freedom and cost-effective transportation, as well as the increasing demand for electric and adventure motorcycles. The country's strong motorcycle culture, well-developed road infrastructure, and economic stability are further contributing to this growth.

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.