Off-road Motorcycles - Kazakhstan

Kazakhstan

Highlights

In Kazakhstan, the Off-road Motorcycles market segment is projected to generate a revenue of US$18.36m by 2024.
This market is expected to witness an annual growth rate of 1.75% (CAGR 2024-2029), resulting in a projected market volume of US$20.03m by 2029.
By that time, unit sales in the Off-road Motorcycles market segment are expected to reach 2.27k motorcyles.
Furthermore, the volume weighted average price of Off-road Motorcycles market in the segment is anticipated to amount to US$8.54k in 2024.
From an international perspective, it is worth noting that Brazil is projected to generate the highest revenue in the Off-road Motorcycles market segment, reaching US$1.36bn in 2024.
Kazakhstan's off-road motorcycle market is experiencing a surge in demand due to the country's vast and diverse landscape.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Off-road Motorcycles market in Kazakhstan has been experiencing steady growth in recent years.

Customer preferences: Kazakhstan, being a country with vast and diverse landscapes, has a strong demand for off-road motorcycles. The rugged terrains and wide open spaces make off-roading a popular recreational activity among the population. Additionally, the affordability and versatility of off-road motorcycles make them an attractive option for both experienced riders and beginners looking to explore the outdoors.

Trends in the market: One of the key trends in the off-road motorcycles market in Kazakhstan is the increasing popularity of electric off-road motorcycles. With growing concerns about environmental sustainability, many consumers are opting for electric vehicles, including off-road motorcycles. These electric models offer a quieter and more eco-friendly riding experience, making them a preferred choice for environmentally conscious riders. Another trend in the market is the rising demand for off-road motorcycles with advanced features and technology. Consumers in Kazakhstan are increasingly looking for off-road motorcycles that offer superior performance, durability, and safety features. Manufacturers are responding to this demand by incorporating innovative technologies such as traction control, adjustable suspension, and advanced braking systems into their off-road motorcycles.

Local special circumstances: Kazakhstan's vast and diverse landscapes provide ample opportunities for off-road riding, attracting both local enthusiasts and tourists. The country is known for its beautiful mountain ranges, deserts, and steppe regions, which offer a variety of terrains for off-road adventures. This unique geographical advantage contributes to the growing popularity of off-road motorcycles in Kazakhstan. Furthermore, the government's efforts to promote tourism and outdoor activities have also played a role in the development of the off-road motorcycles market. Kazakhstan has been actively investing in the development of infrastructure and facilities for adventure tourism, including off-road trails and parks. These initiatives have created a favorable environment for the growth of the off-road motorcycles market in the country.

Underlying macroeconomic factors: The overall economic growth and increasing disposable income in Kazakhstan have also contributed to the development of the off-road motorcycles market. As the economy continues to grow, more individuals have the financial means to invest in recreational activities such as off-roading. The rising middle class in the country is particularly driving the demand for off-road motorcycles. Additionally, the availability of financing options and the presence of a well-established dealer network have made off-road motorcycles more accessible to a wider range of consumers. This has further fueled the growth of the market, as individuals can now purchase off-road motorcycles through affordable installment plans. In conclusion, the Off-road Motorcycles market in Kazakhstan is experiencing steady growth due to customer preferences for off-roading, the popularity of electric off-road motorcycles, and the demand for advanced features and technology. The country's unique landscapes and government initiatives to promote adventure tourism have also contributed to the market development. Furthermore, the overall economic growth and increasing disposable income in Kazakhstan have made off-road motorcycles more affordable and accessible to a larger consumer base.

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.