Motorcycles - Finland

Finland

Highlights

In 2024, the projected revenue in the Motorcycles market in Finland is expected to reach US$50.82m.
Looking ahead, the market is anticipated to experience an annual growth rate (CAGR 2024-2029) of 1.18%, resulting in a projected market volume of US$53.89m by 2029.
Among the various segments, the largest one is On-road Motorcycles, which is projected to reach a market volume of US$40.60m in 2024.
By 2029, it is estimated that the unit sales of Motorcycles market in Finland will reach 4.08k motorcyles.
Furthermore, the volume weighted average price of Motorcycles market in the market is expected to be US$13.21k in 2024.
When considering market share, KTM Motorcycles is expected to have the highest share in the selected region, accounting for 17.2% of motorcycle unit sales in 2024.
Additionally, the value market share of KTM Motorcycles in the selected region is projected to stand at 16.2% in 2024.
From an international perspective, it is worth noting that India is expected to generate the highest revenue in the Motorcycles market, reaching US$32.11bn in 2024.
Finland's motorcycle market is experiencing a surge in demand for electric motorcycles, driven by the country's commitment to sustainability and environmental consciousness.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Finland has been experiencing steady growth in recent years. Customer preferences have shifted towards more eco-friendly modes of transportation, leading to an increased demand for motorcycles. Additionally, the country's unique geography and special circumstances have contributed to the development of the market.

Customer preferences: In Finland, there is a growing trend towards environmentally friendly transportation options. Motorcycles offer a more sustainable alternative to traditional cars, as they consume less fuel and emit fewer greenhouse gases. This has led to an increased interest in motorcycles among consumers who are conscious of their carbon footprint. Additionally, motorcycles provide a more cost-effective solution for commuting in urban areas, where traffic congestion is a common issue.

Trends in the market: One of the key trends in the Finnish motorcycle market is the rising popularity of electric motorcycles. As the technology behind electric vehicles continues to advance, more manufacturers are introducing electric motorcycle models to the market. These bikes offer a clean and quiet ride, making them especially appealing to urban dwellers. The demand for electric motorcycles is expected to continue growing as consumers become more aware of the environmental benefits and the improved performance of these vehicles. Another trend in the market is the increasing popularity of adventure motorcycles. Finland's unique geography, with its vast forests and lakes, offers ample opportunities for off-road riding and exploration. Adventure motorcycles, with their rugged design and off-road capabilities, are well-suited for Finnish riders who enjoy exploring the country's natural landscapes. This trend has led to a surge in sales of adventure motorcycles in recent years.

Local special circumstances: Finland's long and harsh winters present a challenge for motorcycle riders. The cold weather and icy road conditions make it difficult to ride motorcycles for a significant portion of the year. As a result, many riders choose to store their motorcycles during the winter months, leading to a seasonal fluctuation in demand. However, this also creates a sense of anticipation and excitement among riders when the riding season finally arrives. The limited riding season may also contribute to the increased popularity of adventure motorcycles, as riders seek to make the most of the available riding time.

Underlying macroeconomic factors: Finland has a strong economy and a high standard of living, which has a positive impact on the motorcycle market. As disposable incomes rise, more consumers are able to afford motorcycles as a recreational vehicle or a means of transportation. Additionally, favorable financing options and easy access to credit have made motorcycles more affordable for a wider range of consumers. The government's support for sustainable transportation and the development of charging infrastructure for electric vehicles have also played a role in driving the growth of the motorcycle market in Finland. Overall, the combination of changing customer preferences, local special circumstances, and underlying macroeconomic factors has contributed to the steady development of the motorcycles market in Finland.

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.