Motorcycles - Laos

Laos

Highlights

In 2024, the Motorcycles market in Laos is projected to reach a revenue of US$23.70m.
It is expected to experience an annual growth rate of 1.88% from 2024 to 2029, resulting in a projected market volume of US$26.02m by 2029.
The largest segment in the market is On-road Motorcycles, which is anticipated to have a market volume of US$11.71m in 2024.
The unit sales of Motorcycles market in Laos are expected to reach 6.63k motorcyles by 2029.
The volume weighted average price of Motorcycles market in the market is projected to be US$3.73k in 2024.
In terms of market share, Honda Motorcycles is expected to have the highest share in the selected region, with a motorcycle unit sales share of 28.6% in 2024.
The value market share of Honda Motorcycles in the selected region is projected to be 32.1% in 2024.
From an international perspective, it is evident that the highest revenue will be generated India, with US$32.11bn in 2024.
Laos is experiencing a surge in demand for motorcycles due to the country's rugged terrain and lack of accessible public transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Laos 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 in the Motorcycles market in Laos have shifted towards more affordable and fuel-efficient options. As the country continues to develop economically, consumers are seeking cost-effective transportation solutions. Motorcycles provide a practical and affordable mode of transportation, especially in urban areas with congested traffic. Additionally, the rising fuel prices have prompted consumers to opt for motorcycles that offer better fuel efficiency. Trends in the Motorcycles market in Laos indicate a growing demand for electric motorcycles. As environmental concerns become more prominent, consumers are increasingly looking for eco-friendly alternatives. Electric motorcycles offer lower emissions and reduced fuel consumption, making them an attractive option for environmentally conscious consumers. Furthermore, the government has implemented policies to promote the adoption of electric vehicles, including motorcycles, by providing incentives and subsidies. Local special circumstances have also contributed to the growth of the Motorcycles market in Laos. The country's geography, with its mountainous terrain and rural areas, makes motorcycles a practical choice for transportation. Motorcycles are more maneuverable and better suited for navigating challenging road conditions compared to larger vehicles. Additionally, the relatively low cost of motorcycles makes them accessible to a wide range of consumers, including those in rural areas with lower income levels. Underlying macroeconomic factors have also played a role in the development of the Motorcycles market in Laos. The country's economic growth and increasing disposable income levels have led to a rise in consumer spending. As more people can afford motorcycles, the demand for these vehicles has increased. Additionally, the government's efforts to improve infrastructure, such as road networks and transportation systems, have made motorcycles a more viable and convenient mode of transportation. In conclusion, the Motorcycles market in Laos has experienced significant growth due to customer preferences for affordable and fuel-efficient options, the trend towards electric motorcycles, local special circumstances such as geography and income levels, and underlying macroeconomic factors such as economic growth and infrastructure development. These factors have contributed to the increasing popularity and demand for motorcycles in Laos.

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.