Motorcycles - Luxembourg

Luxembourg

The projected revenue in the Motorcycles market for Luxembourg is estimated to reach US$1.96m in 2024.
It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 0.00%, resulting in a projected market volume of US$1.96m by 2029.
Among the market segments, the largest one is On-road Motorcycles, which is projected to have a market volume of US$1.59m in 2024.
The unit sales of Motorcycles market in Luxembourg are expected to reach 161.00motorcyles by 2029.
The volume weighted average price of Motorcycles market in 2024 is estimated to be US$12.19k.
In the selected region, Other is expected to have the highest market share in 2024, with a motorcycle unit sales share of 39.8%.
The value market share of Other in Luxembourg is projected to be 35.9% in 2024.
From an international perspective, it is evident that India will generate the highest revenue in the Motorcycles market, amounting to US$32,110.00m in 2024.
Luxembourg's motorcycle market is experiencing a surge in demand for electric bikes, driven by the country's commitment to sustainability and green initiatives.

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

Market

Make

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Luxembourg, being a small and affluent country, has a high demand for motorcycles. Customers in Luxembourg prefer motorcycles for their convenience, fuel efficiency, and ease of maneuverability in the city's narrow streets. Additionally, motorcycles are seen as a status symbol among the younger population, who value the sporty and adventurous image associated with riding motorcycles.

Trends in the market: One of the major trends in the Luxembourg Motorcycle market is the increasing demand for electric motorcycles. With growing concerns about environmental sustainability and the need to reduce carbon emissions, customers in Luxembourg are opting for electric motorcycles as a greener alternative to traditional gasoline-powered bikes. The government's initiatives to promote electric vehicles, including motorcycles, through tax incentives and subsidies, have further fueled the demand for electric motorcycles in the country. Another trend in the market is the rise of premium and luxury motorcycles. As Luxembourg has a high per capita income and a large number of affluent individuals, there is a significant demand for high-end motorcycles from luxury brands. Customers in Luxembourg are willing to spend more on motorcycles that offer advanced features, superior performance, and exclusive designs. This trend is driven by the desire for exclusivity and the willingness to invest in premium products that reflect their lifestyle and status.

Local special circumstances: Luxembourg's small size and well-developed infrastructure make it an ideal country for motorcycle commuting. The compact nature of the country allows for shorter travel distances, making motorcycles a practical and efficient mode of transportation. Moreover, Luxembourg's favorable climate with mild winters and long summers provides favorable conditions for motorcycle riding throughout the year.

Underlying macroeconomic factors: The strong economy of Luxembourg plays a crucial role in the growth of the motorcycle market. The country's high GDP per capita and low unemployment rate contribute to the disposable income of the population, allowing them to afford motorcycles. Additionally, the stable political and economic environment in Luxembourg creates a favorable business environment for motorcycle manufacturers and dealers. In conclusion, the Motorcycles market in Luxembourg is driven by customer preferences for convenience, fuel efficiency, and status symbol. The market is witnessing a growing demand for electric motorcycles and premium luxury bikes. Luxembourg's small size, well-developed infrastructure, and favorable climate make it an ideal country for motorcycle commuting. The strong economy and stable political environment further support the growth of the motorcycle market in Luxembourg.

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.