Off-road Motorcycles - Bangladesh

Bangladesh

In 2024, the projected revenue in the Off-road Motorcycles market segment in Bangladesh is estimated to be US$342.50m.
It is anticipated that this revenue will experience an annual growth rate (CAGR 2024-2029) of 0.88%, leading to a projected market volume of US$357.80m by 2029.
Furthermore, it is expected that the unit sales in the Off-road Motorcycles market segment will reach 101.10k motorcyles in 2029.
To provide an insight into the pricing dynamics, the volume weighted average price of Off-road Motorcycles market segment in 2024 is projected to be US$3.44k.
From a global perspective, it is evident that Brazil will generate the highest revenue in the Off-road Motorcycles market segment, amounting to US$1,364.00m in 2024.
Despite a lack of proper infrastructure, the demand for off-road motorcycles in Bangladesh is steadily increasing due to a growing interest in adventure sports and recreational activities.

Key regions: Germany, Italy, United States, Portugal, Spain

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Analyst Opinion

The Off-road Motorcycles market in Bangladesh has been experiencing significant growth in recent years.

Customer preferences: Bangladesh has a growing population of young and adventurous individuals who are increasingly interested in off-road activities. This has created a demand for off-road motorcycles, as they provide the perfect vehicle for exploring the country's rugged terrains and natural landscapes. Additionally, off-road motorcycles are seen as a symbol of adventure and freedom, which appeals to the younger generation.

Trends in the market: One of the key trends in the Off-road Motorcycles market in Bangladesh is the increasing popularity of off-road racing events. These events attract a large number of participants and spectators, creating a demand for high-performance off-road motorcycles. As a result, manufacturers are focusing on developing technologically advanced and powerful motorcycles that can withstand the rigors of racing. Another trend in the market is the rise of eco-friendly off-road motorcycles. With growing concerns about environmental sustainability, there is a growing demand for off-road motorcycles that are powered by electric or hybrid engines. These motorcycles offer lower emissions and reduced noise pollution, making them more environmentally friendly compared to traditional gasoline-powered off-road motorcycles.

Local special circumstances: Bangladesh is known for its diverse and challenging terrains, including hills, forests, and rivers. This creates a unique demand for off-road motorcycles that are capable of navigating these terrains. Manufacturers have recognized this demand and are designing motorcycles with features such as high ground clearance, rugged tires, and durable suspension systems to cater to the specific needs of Bangladeshi riders.

Underlying macroeconomic factors: The economic growth of Bangladesh has played a significant role in the development of the Off-road Motorcycles market. As the country's economy continues to grow, more people have disposable income to spend on recreational activities such as off-road motorcycling. Additionally, the government has been investing in infrastructure development, including the construction of off-road tracks and trails, which has further fueled the growth of the market. In conclusion, the Off-road Motorcycles market in Bangladesh is experiencing growth due to the preferences of the country's young and adventurous population, the increasing popularity of off-road racing events, and the demand for eco-friendly motorcycles. The unique terrains of Bangladesh also contribute to the growth of the market, as manufacturers design motorcycles specifically tailored to navigate these terrains. The overall economic growth of the country and government investments in infrastructure development are additional factors driving the market's growth.

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.