Motorcycles - Lebanon

Lebanon

Highlights

Lebanon's Motorcycles market is projected to generate a revenue of US$24.89m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of -2.86%, resulting in a market volume of US$21.53m by 2029.
The largest segment in the market is On-road Motorcycles, which is projected to reach a market volume of US$22.95m in 2024.
The unit sales of Motorcycles market are expected to reach 3.04k motorcyles in 2029.
The volume weighted average price of Motorcycles market in 2024 is projected to be US$7.06k.
In Lebanon, Honda Motorcycles is expected to have the highest market share in 2024, with a motorcycle unit sales share of 22.0%.
The value market share of Honda Motorcycles in the country is projected to stand at 13.6% in 2024.
From an international perspective, India is expected to generate the most revenue in the Motorcycles market, with US$32.11bn in 2024.
Despite the challenging economic conditions in Lebanon, the motorcycle market continues to thrive due to high demand for fuel-efficient and affordable transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Lebanon has been experiencing steady growth in recent years, driven by customer preferences for affordable and efficient transportation options.

Customer preferences: Lebanese consumers have shown a growing preference for motorcycles as a means of transportation, particularly in urban areas where traffic congestion is a major issue. Motorcycles offer a cost-effective and convenient alternative to cars, allowing riders to navigate through traffic more easily and reach their destinations faster. Additionally, motorcycles are more fuel-efficient than cars, making them an attractive option for cost-conscious consumers.

Trends in the market: One of the key trends in the motorcycles market in Lebanon is the increasing demand for electric motorcycles. As environmental concerns become more prominent, consumers are seeking greener transportation alternatives. Electric motorcycles offer a clean and sustainable option, with zero emissions and lower operating costs compared to traditional gasoline-powered motorcycles. This trend is expected to continue as the government and private sector invest in infrastructure to support electric vehicle adoption. Another trend in the market is the rise of motorcycle ride-sharing services. Similar to popular ride-hailing services for cars, motorcycle ride-sharing platforms provide an on-demand transportation solution for users. This trend has gained traction in urban areas where motorcycles are a popular mode of transportation. The convenience and affordability of motorcycle ride-sharing services have made them a preferred choice for many commuters, contributing to the growth of the motorcycles market in Lebanon.

Local special circumstances: Lebanon's geography and road infrastructure also play a role in the development of the motorcycles market. The country's mountainous terrain and narrow roads make motorcycles a practical choice for navigating through challenging terrains. Additionally, the compact size of motorcycles allows riders to easily find parking spaces in crowded urban areas, where parking is often limited.

Underlying macroeconomic factors: The motorcycles market in Lebanon is influenced by several macroeconomic factors. The country's relatively high population density, especially in urban areas, creates a strong demand for efficient transportation options. Additionally, Lebanon has a young population, with a significant portion of the population being of working age. This demographic profile contributes to the demand for motorcycles as a cost-effective and convenient mode of transportation for commuting to work or school. Furthermore, the affordability of motorcycles compared to cars makes them an attractive option for consumers with limited purchasing power. The lower upfront cost and lower maintenance expenses of motorcycles make them a more accessible choice for many Lebanese consumers. In conclusion, the motorcycles market in Lebanon is experiencing growth due to customer preferences for affordable and efficient transportation options. The increasing demand for electric motorcycles and the rise of motorcycle ride-sharing services are key trends shaping the market. The country's geography, road infrastructure, and demographic profile also contribute to the development 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.