Motorcycles - Kazakhstan

Kazakhstan

Highlights

In 2024, the Motorcycles market in Kazakhstan is projected to reach a revenue of US$49.28m.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 2.00%, resulting in a projected market volume of US$54.40m by 2029.
The largest segment in the market is On-road Motorcycles, with a projected market volume of US$24.75m in 2024.
By 2029, the unit sales of Motorcycles market in Kazakhstan are expected to reach 13.40k motorcyles.
The volume weighted average price of Motorcycles market in the market is projected to be US$3.94k in 2024.
In the selected region, Yamaha is expected to have the highest market share in 2024, with a motorcycle unit sales share of 13.3%.
The value market share of Yamaha in the selected region is projected to be 13.5% in 2024.
From an international perspective, it is evident that the most revenue will be generated India, with a projected revenue of US$32.11bn in 2024.
The demand for motorcycles in Kazakhstan is on the rise due to the country's vast and rugged terrain, making it a popular choice for off-road enthusiasts.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Kazakhstan has been experiencing steady growth in recent years.

Customer preferences: Kazakhstan is known for its vast landscapes and rugged terrain, which makes motorcycles a popular choice for transportation and recreation. Many consumers in Kazakhstan prefer motorcycles over cars due to their affordability, fuel efficiency, and ability to navigate through different terrains. Additionally, motorcycles are often seen as a symbol of freedom and adventure, which resonates with the adventurous spirit of the Kazakh people.

Trends in the market: One of the key trends in the motorcycle market in Kazakhstan is the increasing demand for off-road motorcycles. This can be attributed to the country's diverse geography, which includes mountains, deserts, and steppe regions. Off-road motorcycles are well-suited for navigating these challenging terrains, making them a popular choice among outdoor enthusiasts and adventure seekers. Another trend in the market is the growing popularity of electric motorcycles. As the world becomes more environmentally conscious, consumers in Kazakhstan are also showing a preference for electric vehicles, including motorcycles. Electric motorcycles offer several advantages, including lower emissions, quieter operation, and lower operating costs. The government of Kazakhstan has also been promoting the use of electric vehicles through various incentives and subsidies, further driving the demand for electric motorcycles in the country.

Local special circumstances: Kazakhstan is the largest landlocked country in the world, with a vast territory and a relatively low population density. This unique geographic and demographic situation has contributed to the popularity of motorcycles as a means of transportation. Motorcycles offer a cost-effective and efficient mode of transportation, especially in rural areas where public transportation options may be limited. Additionally, motorcycles are often used for long-distance travel in Kazakhstan, as they are well-suited for covering large distances in a relatively short amount of time.

Underlying macroeconomic factors: The steady growth of the motorcycle market in Kazakhstan can be attributed to several underlying macroeconomic factors. The country has experienced stable economic growth in recent years, which has led to an increase in disposable income and purchasing power among consumers. This, in turn, has fueled the demand for motorcycles as a form of personal transportation and recreation. Furthermore, the government of Kazakhstan has implemented various initiatives to promote the development of the automotive industry, including the motorcycle sector. These initiatives include tax incentives, subsidies, and the establishment of special economic zones for automotive manufacturing. These measures have attracted foreign investment and encouraged the growth of domestic motorcycle manufacturing and assembly in Kazakhstan. In conclusion, the steady growth of the motorcycle market in Kazakhstan can be attributed to customer preferences for affordable and versatile transportation options, the increasing demand for off-road and electric motorcycles, the unique geographic and demographic circumstances of the country, and the underlying macroeconomic factors such as stable economic growth and government initiatives to promote the automotive industry.

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.