Motorcycles - Iran

Iran

Highlights

Revenue in the Motorcycles market in Iran is projected to reach US$685.80m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 1.67%, resulting in a projected market volume of US$744.90m by 2029.
The largest segment in the Motorcycles market in Iran is On-road Motorcycles, with a projected market volume of US$565.90m in 2024.
Motorcycles market unit sales in Iran are expected to reach 137.60k motorcyles in 2029.
The volume weighted average price of the Motorcycles market in Iran in 2024 is expected to amount to US$5.31k.
With a motorcycle unit sales share of 26.8% in 2024, Honda Motorcycles is expected to have the highest market share in Iran.
The value market share of Honda Motorcycles in Iran is expected to stand at 22.1% in 2024.
From an international perspective, it is shown that the most revenue in the Motorcycles market will be generated India, reaching US$32.11bn in 2024.
Iran's motorcycle market is experiencing a surge in demand, driven by affordable models and a growing middle class.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Iran has been experiencing significant growth in recent years.

Customer preferences: Motorcycles are a popular mode of transportation in Iran, particularly among the younger population. They are seen as a convenient and affordable means of getting around in a country with a rapidly growing urban population. Additionally, motorcycles are preferred for their fuel efficiency, which is a key consideration in a country where fuel prices are relatively high.

Trends in the market: One of the key trends in the Iranian motorcycles market is the increasing demand for electric motorcycles. This can be attributed to a growing awareness of environmental issues and a desire for more sustainable transportation options. Electric motorcycles offer lower emissions and reduced reliance on fossil fuels, making them an attractive choice for environmentally conscious consumers. Another trend in the market is the rise of online sales platforms for motorcycles. With the increasing penetration of the internet and smartphones, more consumers are turning to online platforms to research and purchase motorcycles. This trend is driven by the convenience and ease of online shopping, as well as the availability of a wider range of options compared to traditional brick-and-mortar stores.

Local special circumstances: Iran has a large young population, with a significant portion of the population under the age of 30. This demographic is highly tech-savvy and is driving the demand for motorcycles, particularly electric motorcycles. Additionally, the government has implemented policies to promote the use of electric vehicles, including motorcycles, by offering subsidies and tax incentives. These factors have contributed to the growth of the electric motorcycles market in Iran.

Underlying macroeconomic factors: Iran has experienced steady economic growth in recent years, which has led to an increase in disposable income among the population. This has made motorcycles more affordable and accessible to a larger segment of the population. Additionally, the government has taken steps to improve infrastructure and reduce traffic congestion, which has further boosted the demand for motorcycles as a means of transportation. In conclusion, the Motorcycles market in Iran is growing due to customer preferences for affordable and fuel-efficient transportation options, as well as the increasing demand for electric motorcycles. Online sales platforms and government policies promoting the use of electric vehicles have also contributed to the growth of the market. The young population and steady economic growth in Iran have created a favorable environment for the expansion of the motorcycles market.

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.