Off-road Motorcycles - Finland

Finland

Highlights

In 2024, the Off-road Motorcycles market segment in Finland is projected to generate a revenue of US$6.30m.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 1.17%, resulting in a projected market volume of US$6.67m by 2029.
By 2029, unit sales in the Off-road Motorcycles market segment are expected to reach 718.00motorcyles.
The volume weighted average price of Off-road Motorcycles market in 2024 is projected to be US$9.19k.
From an international standpoint, it is noteworthy that Brazil is anticipated to generate the highest revenue in the Off-road Motorcycles market segment, with US$1.36bn in 2024.
Despite Finland's harsh climate and rugged terrain, the demand for off-road motorcycles continues to grow steadily.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Finland has a strong tradition of outdoor activities and a love for nature, which has contributed to the popularity of off-road motorcycles in the country. Many Finnish consumers enjoy exploring the country's vast forests and rugged terrain, making off-road motorcycles a popular choice for recreational purposes. Additionally, off-road motorcycle sports, such as motocross and enduro racing, have gained a strong following in Finland, further driving the demand for these vehicles.

Trends in the market: One of the key trends in the Off-road Motorcycles market in Finland is the increasing demand for electric off-road motorcycles. As environmental concerns continue to rise, many consumers are looking for more sustainable alternatives to traditional gasoline-powered motorcycles. Electric off-road motorcycles offer a quieter and cleaner riding experience, making them attractive to environmentally conscious consumers. This trend is in line with the global shift towards electric vehicles and is expected to continue driving the growth of the off-road motorcycle market in Finland. Another trend in the market is the growing popularity of adventure touring motorcycles. Adventure touring motorcycles are designed for long-distance travel and are equipped with features that allow riders to explore various terrains. In Finland, where there are vast areas of untouched wilderness, adventure touring motorcycles have become popular among riders who want to embark on off-road adventures and explore the country's natural beauty. This trend is also influenced by the increasing popularity of motorcycle tourism, as more riders are seeking unique and adventurous experiences.

Local special circumstances: Finland's geographical characteristics and climate also play a role in shaping the Off-road Motorcycles market. The country has a large number of forests and lakes, providing ample opportunities for off-road riding. Additionally, Finland experiences long and harsh winters, which limits the riding season for traditional off-road motorcycles. However, the development of snow bikes, which are motorcycles equipped with skis and tracks, has allowed riders to continue enjoying off-road riding even during the winter months. This unique adaptation to the local climate has further contributed to the growth of the off-road motorcycle market in Finland.

Underlying macroeconomic factors: Finland has a stable and prosperous economy, which has positively influenced the Off-road Motorcycles market. The country has a high standard of living and a strong purchasing power, allowing consumers to afford recreational vehicles such as off-road motorcycles. Additionally, Finland has a well-developed infrastructure and a comprehensive network of trails and tracks for off-road riding, making it an attractive destination for riders. These factors, combined with the cultural affinity for outdoor activities, have created a favorable environment for the growth of the Off-road Motorcycles market in Finland.

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.