Motorcycles - Denmark

Denmark

Highlights

In 2024, the projected revenue in the Motorcycles market in Denmark is expected to reach US$36.88m.
This market is also projected to show an annual growth rate of 0.98% between 2024 and 2029, resulting in a projected market volume of US$38.72m by 2029.
The largest segment within the Motorcycles market in Denmark is On-road Motorcycles, which is expected to have a market volume of US$29.76m in 2024.
By 2029, the unit sales of Motorcycles market in Denmark are expected to reach 3.46k motorcyles.
Furthermore, the volume weighted average price of Motorcycles market in Denmark is projected to be US$11.13k in 2024.
In terms of market share, Honda Motorcycles is expected to have the highest share with 19.2% in 2024.
Additionally, the value market share of Honda Motorcycles in Denmark is projected to be 18.9% in 2024.
Looking at the international perspective, it is evident that India will generate the most revenue in the Motorcycles market, with US$32.11bn in 2024.
Denmark's motorcycle market is experiencing a surge in demand for electric bikes due to the country's strong focus on sustainability.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Denmark has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: In Denmark, there has been a shift in customer preferences towards more eco-friendly and sustainable modes of transportation. This has resulted in an increased demand for electric motorcycles, which offer lower emissions and reduced environmental impact compared to traditional gasoline-powered motorcycles. Additionally, customers are also looking for motorcycles that offer better fuel efficiency and lower maintenance costs.

Trends in the market: One of the key trends in the Danish motorcycle market is the growing popularity of electric motorcycles. The government has been actively promoting the use of electric vehicles, including motorcycles, through various incentives and subsidies. This has encouraged manufacturers to introduce a wider range of electric motorcycle models in the market, catering to the increasing demand. Another trend in the market is the rise of motorcycle sharing services. This trend is driven by the increasing urbanization and the need for more flexible and convenient transportation options. Motorcycle sharing services provide an affordable and efficient way for people to commute within the city, especially during peak hours. This trend has been further accelerated by the advancements in technology, such as mobile applications that allow users to easily locate and rent motorcycles.

Local special circumstances: Denmark has a well-developed infrastructure for motorcycles, including a network of well-maintained roads and designated parking spaces. This makes it easier for motorcycle riders to navigate through the city and find parking, which contributes to the growing popularity of motorcycles as a mode of transportation. Additionally, Denmark has a strong motorcycle culture, with various motorcycle clubs and events taking place throughout the year. This creates a sense of community among motorcycle enthusiasts and fosters a positive image of motorcycles in the society.

Underlying macroeconomic factors: The Danish economy has been performing well in recent years, with steady GDP growth and low unemployment rates. This has resulted in increased disposable income and consumer spending, which has positively impacted the motorcycle market. As consumers have more purchasing power, they are more likely to invest in recreational vehicles such as motorcycles. Furthermore, the government's focus on sustainable transportation and reducing carbon emissions has also played a role in the growth of the motorcycle market. The introduction of incentives and subsidies for electric motorcycles has made them more affordable and attractive to consumers, leading to an increase in sales. In conclusion, the Motorcycles market in Denmark is experiencing growth due to changing customer preferences towards eco-friendly and sustainable transportation, emerging trends in the market such as electric motorcycles and motorcycle sharing services, local special circumstances including a well-developed infrastructure and strong motorcycle culture, and underlying macroeconomic factors such as a strong economy and government support for sustainable transportation.

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.