Off-road Motorcycles - Southeast Asia

Southeast Asia

Highlights

The Off-road Motorcycles market segment in Southeast Asia is set to achieve a projected revenue of US$58.34m in 2024.
This market segment is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 4.05%, resulting in a projected market volume of US$71.14m by 2029.
By that time, unit sales of Off-road Motorcycles market are anticipated to reach 8.41k motorcyles.
The volume weighted average price of Off-road Motorcycles market in 2024 is projected to be US$8.28k.
In terms of international comparison, Brazil is expected to generate the highest revenue in the Off-road Motorcycles market segment, reaching US$1.36bn in 2024.
The demand for off-road motorcycles in Southeast Asia has been steadily increasing due to the region's diverse terrain and growing interest in adventure sports.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Off-road Motorcycles market in Southeast Asia is experiencing significant growth and development.

Customer preferences: Customers in Southeast Asia have shown a strong preference for off-road motorcycles due to the region's diverse terrain and the popularity of outdoor recreational activities. Off-road motorcycles provide an exciting and adventurous experience, attracting both young and adult riders. Additionally, the affordability and availability of off-road motorcycles have made them accessible to a wider range of customers in the region.

Trends in the market: One of the key trends in the Off-road Motorcycles market in Southeast Asia is the increasing demand for electric off-road motorcycles. With growing concerns about environmental sustainability and a shift towards eco-friendly transportation, customers are becoming more interested in electric vehicles, including off-road motorcycles. The advancements in battery technology have made electric off-road motorcycles more practical and efficient, offering comparable performance to their gasoline-powered counterparts. This trend is expected to continue as more manufacturers introduce electric off-road motorcycle models to the market. Another trend in the market is the customization of off-road motorcycles. Customers in Southeast Asia are increasingly looking for personalized and unique off-road motorcycles that reflect their individual style and preferences. This has led to a rise in aftermarket parts and accessories, allowing riders to modify and enhance the performance and aesthetics of their motorcycles. Manufacturers have recognized this trend and are offering a wide range of customization options and accessories to cater to the growing demand.

Local special circumstances: The geographical and cultural diversity of Southeast Asia presents unique opportunities and challenges for the Off-road Motorcycles market. The region is home to a wide range of terrains, including mountains, jungles, and coastal areas, which attract off-road motorcycle enthusiasts. Additionally, the popularity of off-road motorcycle racing events and competitions in countries like Thailand and Indonesia further drives the demand for off-road motorcycles. However, the market also faces challenges such as varying regulations and restrictions on off-road motorcycle usage in different countries. Some countries have strict regulations on off-road riding areas and noise emissions, which can impact the market growth. Manufacturers and distributors need to navigate these regulatory differences and adapt their products and marketing strategies accordingly.

Underlying macroeconomic factors: The growing economies and rising disposable incomes in Southeast Asia are contributing to the development of the Off-road Motorcycles market. As more people in the region have the financial means to afford recreational vehicles, the demand for off-road motorcycles is expected to increase. Additionally, the expanding middle class in countries like Thailand, Indonesia, and Malaysia is driving the growth of the market, as more individuals are able to participate in outdoor activities and pursue their passion for off-road riding. Furthermore, the tourism industry in Southeast Asia plays a significant role in the Off-road Motorcycles market. The region attracts a large number of adventure-seeking tourists who are interested in off-road motorcycle tours and experiences. This presents an opportunity for manufacturers and tour operators to cater to the needs of these tourists and promote off-road motorcycle tourism in the region. In conclusion, the Off-road Motorcycles market in Southeast Asia is growing due to customer preferences for adventurous outdoor activities, the increasing demand for electric off-road motorcycles, and the trend towards customization. The unique geography and cultural diversity of the region, along with the underlying macroeconomic factors such as growing economies and the tourism industry, further contribute to the market's development. However, challenges related to regulations and restrictions on off-road motorcycle usage need to be addressed by manufacturers and distributors operating in the region.

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.