The Motorcycles market in North Macedonia has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Motorcycles market in North Macedonia have shifted towards more fuel-efficient and environmentally-friendly options. With rising concerns about climate change and increasing fuel prices, consumers are opting for motorcycles that offer better fuel efficiency and lower emissions. This has led to a rise in the demand for electric motorcycles and scooters, as well as smaller displacement bikes that consume less fuel. Additionally, there is a growing interest in motorcycles that offer a combination of performance and comfort, with features such as advanced suspension systems and ergonomic designs. Trends in the market reflect a growing interest in leisure and recreational activities, as well as the need for affordable transportation. Motorcycles are increasingly being used for recreational purposes, such as off-road riding and touring. This trend is driven by the desire for adventure and the thrill of exploring new places. Furthermore, motorcycles are seen as a cost-effective alternative to cars, especially in congested urban areas where parking is limited and traffic is a major issue. As a result, there is a growing demand for motorcycles as a means of transportation for daily commuting. Local special circumstances in North Macedonia also contribute to the development of the Motorcycles market. The country has a relatively small size and a diverse landscape, with mountains, lakes, and rural areas. This makes motorcycles an attractive mode of transportation for navigating through different terrains and enjoying the scenic beauty of the country. Additionally, the relatively low cost of motorcycles compared to cars makes them more accessible to a wider range of consumers, including young adults and those with lower incomes. Underlying macroeconomic factors also play a role in the growth of the Motorcycles market in North Macedonia. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. This has contributed to a higher demand for motorcycles as consumers have more purchasing power. Furthermore, the government has implemented policies to promote the use of motorcycles as a means of transportation, such as providing incentives for the purchase of electric motorcycles and improving infrastructure for motorcycles. In conclusion, the Motorcycles market in North Macedonia is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards fuel-efficient and environmentally-friendly options, the growing interest in recreational activities and affordable transportation, the diverse landscape of the country, and the steady economic growth all contribute to the growth of the 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.
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