Off-road Motorcycles - ASEAN

ASEAN

Highlights

The Off-road Motorcycles market segment in ASEAN is expected to generate a revenue of US$58.11m in 2024.
It is projected to experience a steady annual growth rate (CAGR 2024-2029) of 4.07%, leading to a market volume of US$70.93m by 2029.
The unit sales of Off-road Motorcycles market in this segment are anticipated to reach 8.34k motorcyles in 2029.
The volume weighted average price of Off-road Motorcycles market in ASEAN is estimated to be US$8.34k in 2024.
In terms of international market performance, Brazil is expected to generate the highest revenue, reaching US$1.36bn in 2024.
In the ASEAN region, the demand for off-road motorcycles is rapidly increasing due to the growing popularity of motorsports and the presence of diverse terrains suitable for off-road riding.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Off-road Motorcycles market in ASEAN has been experiencing significant growth in recent years, driven by a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the ASEAN region have played a crucial role in the development of the Off-road Motorcycles market. With a growing interest in outdoor recreational activities and adventure sports, there has been an increasing demand for off-road motorcycles. Customers are drawn to the thrill and excitement of off-road riding, as well as the versatility and durability of these motorcycles. Additionally, the affordability of off-road motorcycles compared to other recreational vehicles has also contributed to their popularity among customers in the ASEAN region. Trends in the market have further fueled the growth of the Off-road Motorcycles market in ASEAN. One notable trend is the rising popularity of off-road motorcycle racing events and competitions. These events attract a large number of participants and spectators, creating a vibrant and competitive market for off-road motorcycles. Manufacturers have responded to this trend by introducing new models with advanced features and technologies to meet the specific needs of off-road racers. Local special circumstances in ASEAN countries have also played a role in the development of the Off-road Motorcycles market. The region's diverse and rugged terrain, including mountains, forests, and coastal areas, provides ample opportunities for off-road riding. This has created a strong demand for off-road motorcycles among outdoor enthusiasts and adventure seekers. Moreover, the availability of off-road trails and tracks in many ASEAN countries has further contributed to the growth of the market. Underlying macroeconomic factors have also influenced the development of the Off-road Motorcycles market in ASEAN. The region's economic growth and rising disposable incomes have increased the affordability of off-road motorcycles for a larger segment of the population. As a result, more individuals are able to afford and participate in off-road riding activities. Additionally, the growth of the tourism industry in ASEAN countries has attracted a significant number of international visitors who are interested in off-road adventures, further boosting the demand for off-road motorcycles. In conclusion, the Off-road Motorcycles market in ASEAN has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The region's interest in outdoor recreational activities, the rising popularity of off-road motorcycle racing events, the diverse terrain, and the economic growth in ASEAN countries have all contributed to the development of the market. With these factors in play, the Off-road Motorcycles market in ASEAN is expected to continue its upward trajectory in the coming years.

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.