Motorcycles - Georgia

Georgia

The Motorcycles market in Georgia is projected to reach a revenue of US$25.35m in 2024.
It is expected to show an annual growth rate of 3.94% (CAGR 2024-2029), resulting in a projected market volume of US$30.75m by 2029.
The largest segment in the market is On-road Motorcycles, which is projected to have a market volume of US$17.01m in 2024.
In 2029, the Motorcycles market unit sales are expected to reach 4.63k motorcyles.
The volume weighted average price of Motorcycles market in 2024 is projected to be US$6.50k.
In the selected region, Other is expected to have the highest market share in 2024, with a motorcycle unit sales share of 45.5%.
The value market share of Other in the selected region is projected to be 57.2% in 2024.
From an international perspective, it is shown that the most revenue will be generated India, with US$32,110.00m in 2024.
Georgia's motorcycle market is experiencing a surge in demand for off-road bikes, driven by the country's rugged terrain and growing interest in adventure tourism.

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

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Analyst Opinion

The Motorcycles market in Georgia has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences: Customer preferences in the Motorcycles market in Georgia have shifted towards more affordable and fuel-efficient options. With rising fuel prices and increasing environmental consciousness, consumers are looking for motorcycles that offer better mileage and lower emissions. Additionally, there is a growing demand for motorcycles that are suitable for both urban commuting and leisure riding. This has led to an increase in the popularity of smaller, lightweight motorcycles that are easy to maneuver in congested city streets.

Trends in the market: One of the key trends in the Motorcycles market in Georgia is the growing popularity of electric motorcycles. As the technology behind electric vehicles continues to improve and become more affordable, consumers are increasingly considering electric motorcycles as a viable alternative to traditional gasoline-powered bikes. Electric motorcycles offer several advantages, including lower operating costs, reduced maintenance requirements, and a smaller carbon footprint. This trend is expected to continue as more manufacturers introduce electric motorcycle models to the market. Another trend in the market is the rise of online sales channels. With the increasing popularity of e-commerce platforms, consumers in Georgia are now able to purchase motorcycles online, often at lower prices compared to traditional brick-and-mortar dealerships. This shift towards online sales has also allowed for greater access to a wider range of motorcycle models and brands, giving consumers more options to choose from.

Local special circumstances: One of the unique factors influencing the Motorcycles market in Georgia is the country's geography and climate. Georgia is known for its diverse landscapes, ranging from mountainous regions to coastal areas. This has created a demand for motorcycles that are suitable for different terrains and weather conditions. Off-road motorcycles and adventure bikes, capable of handling rugged terrain, are particularly popular among motorcycle enthusiasts in Georgia. Additionally, the country's mild climate allows for year-round riding, further contributing to the demand for motorcycles.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Motorcycles market in Georgia. The country has experienced steady economic growth in recent years, leading to an increase in disposable income levels. This has allowed more people to afford motorcycles as a mode of transportation and leisure activity. Additionally, the government has implemented policies to promote the automotive industry, including the motorcycle sector. These policies have created a favorable business environment for motorcycle manufacturers and dealers, leading to increased investment and market expansion.

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.