Motorcycles - EU-27

EU-27

In 2024, the projected revenue in the Motorcycles market for the EU-27 is estimated to reach US$13.62bn.
It is expected that this revenue will experience an annual growth rate of 4.34% (CAGR 2024-2029), resulting in a projected market volume of US$16.84bn by 2029.
Among the various segments in the market, the largest one is On-road Motorcycles, which is projected to have a market volume of US$10.17bn in 2024.
Looking ahead, the unit sales of Motorcycles market in the EU-27 are expected to reach 1.46m motorcyles by 2029.
Additionally, the volume weighted average price of Motorcycles market in 2024 is expected to be US$11.37k.
When considering the international perspective, it is evident that India will generate the highest revenue, amounting to US$32,110.00m in 2024.
In Germany, the demand for electric motorcycles is on the rise, with consumers increasingly opting for environmentally-friendly alternatives.

Key regions: Thailand, Italy, Indonesia, Spain, Germany

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Analyst Opinion

The Motorcycles market in EU-27 is experiencing steady growth due to customer preferences for fuel-efficient and cost-effective transportation options, as well as the increasing popularity of leisure activities such as motorcycling.

Customer preferences: In recent years, there has been a shift in customer preferences towards more fuel-efficient and cost-effective transportation options. Motorcycles offer a more economical alternative to cars, especially in urban areas where traffic congestion and parking limitations are common. Additionally, motorcycles are often favored by young consumers who are looking for a more affordable mode of transportation.

Trends in the market: One of the key trends in the Motorcycles market in EU-27 is the increasing popularity of electric motorcycles. With the growing concern for environmental sustainability, many consumers are opting for electric vehicles, including motorcycles. Electric motorcycles offer a cleaner and quieter alternative to traditional gasoline-powered bikes, and they are also more cost-effective in the long run due to lower fuel and maintenance costs. Another trend in the market is the rising demand for leisure motorcycles. Motorcycling has become a popular recreational activity, with many consumers using motorcycles for weekend getaways and long-distance touring. This trend is driven by the desire for adventure and freedom, as well as the availability of well-maintained road networks and scenic routes in the EU-27 countries.

Local special circumstances: The Motorcycles market in EU-27 is influenced by various local special circumstances. For example, countries with a high population density and limited parking spaces, such as the Netherlands and Belgium, have a higher demand for motorcycles as a practical mode of transportation. On the other hand, countries with a strong motorcycle culture, such as Italy and Spain, have a larger market for leisure motorcycles.

Underlying macroeconomic factors: The growth of the Motorcycles market in EU-27 is also supported by underlying macroeconomic factors. The improving economic conditions in the region, including rising disposable incomes and low unemployment rates, have contributed to increased consumer spending on motorcycles. Additionally, favorable government policies and incentives for electric vehicles have encouraged the adoption of electric motorcycles in the EU-27 countries. In conclusion, the Motorcycles market in EU-27 is experiencing growth due to customer preferences for fuel-efficient and cost-effective transportation options, as well as the increasing popularity of leisure activities such as motorcycling. The market is also influenced by local special circumstances and underlying macroeconomic factors that support the growth of the industry.

Methodology

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.