Off-road Motorcycles - Mexico

Mexico

In Mexico, the Off-road Motorcycles market segment is expected to generate a revenue of US$1.12bn in 2024.
This market segment is projected to experience a steady annual growth rate (CAGR 2024-2029) of 4.26%, resulting in a market volume of US$1.38bn by 2029.
By then, unit sales in the Off-road Motorcycles market segment are expected to reach 273.30k motorcyles.
The volume weighted average price of Off-road Motorcycles market in Mexico is projected to be US$4.82k in 2024.
However, when looking at the international landscape, it becomes evident that the highest revenue in this segment will be generated Brazil, with an expected revenue of US$1,364.00m in 2024.
The demand for off-road motorcycles in Mexico has soared due to the country's rugged terrain and growing interest in extreme sports.

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

Market

Region

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Currency

Analyst Opinion

The Off-road Motorcycles market in Mexico has experienced significant growth in recent years, driven by changing customer preferences and favorable local circumstances.

Customer preferences: In Mexico, there is a growing interest in off-road motorcycles among outdoor enthusiasts and adventure seekers. The rugged terrain and diverse landscapes in the country make it an ideal destination for off-road riding. Customers are increasingly attracted to the thrill and excitement of off-road motorcycling, as well as the opportunity to explore remote areas that are inaccessible by traditional vehicles. Additionally, the affordability and availability of off-road motorcycles have made them more accessible to a wider range of customers.

Trends in the market: One of the key trends in the Off-road Motorcycles market in Mexico is the increasing demand for electric off-road motorcycles. As sustainability and environmental concerns gain importance worldwide, customers are looking for alternative energy solutions in the off-road sector as well. Electric off-road motorcycles offer several advantages, including reduced noise pollution, lower maintenance costs, and zero emissions. Manufacturers are responding to this trend by introducing a range of electric off-road motorcycles with improved performance and longer battery life. Another trend in the market is the growing popularity of off-road motorcycle tours and events. Tour operators are organizing guided off-road tours in Mexico, providing customers with the opportunity to explore the country's natural beauty while enjoying the thrill of off-road riding. These tours cater to both experienced riders and beginners, offering customized routes and training programs. Additionally, off-road motorcycle events, such as races and competitions, are gaining traction in Mexico, attracting participants and spectators from across the country.

Local special circumstances: Mexico's geographical diversity and favorable climate contribute to the growth of the Off-road Motorcycles market. The country is home to a wide range of terrains, including deserts, mountains, and forests, providing ample opportunities for off-road riding. The warm climate and long riding seasons make Mexico an attractive destination for off-road enthusiasts, both domestic and international. Additionally, the government's efforts to promote tourism and outdoor activities further support the development of the off-road motorcycle market in Mexico.

Underlying macroeconomic factors: The growing Off-road Motorcycles market in Mexico is also influenced by several macroeconomic factors. The country's improving economy and rising disposable incomes have increased the purchasing power of consumers, enabling them to invest in recreational vehicles such as off-road motorcycles. Furthermore, the government's investment in infrastructure development, including the construction of off-road trails and parks, has created a conducive environment for the growth of the off-road motorcycle market. Additionally, the presence of a strong manufacturing sector in Mexico has led to the availability of a wide range of off-road motorcycles at competitive prices. In conclusion, the Off-road Motorcycles market in Mexico is experiencing significant growth due to changing customer preferences, the popularity of off-road motorcycle tours and events, favorable local circumstances, and underlying macroeconomic factors. The increasing demand for electric off-road motorcycles and the country's geographical diversity contribute to the expansion of the market. With the government's support and the continued interest of customers, the Off-road Motorcycles market in Mexico is expected to continue its upward trajectory.

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.