Off-road Motorcycles - Turkey

Turkey

Highlights

In 2024, the projected revenue in the Off-road Motorcycles market segment in Turkey is expected to reach US$181.50m.
Looking ahead, the revenue is anticipated to display a compound annual growth rate (CAGR 2024-2029) of 4.99%, resulting in a projected market volume of US$231.50m by 2029.
By that time, unit sales in the Off-road Motorcycles market segment are expected to reach 50.75k motorcyles.
Furthermore, the volume weighted average price of Off-road Motorcycles market in Turkey is projected to amount to US$4.44k in 2024.
When considering the international market, it is noteworthy that Brazil is expected to generate the highest revenue, reaching US$1.36bn in 2024.
Turkey's off-road motorcycle market is experiencing a surge in popularity due to the country's diverse terrain and growing interest in adventure sports.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Turkey have shown a strong preference for off-road motorcycles due to their versatility and ability to handle various terrains. Off-road motorcycles are popular among adventure enthusiasts and outdoor sports enthusiasts who enjoy activities such as trail riding, motocross, and enduro racing. These motorcycles are designed to withstand rugged conditions and provide an exhilarating riding experience.

Trends in the market: One of the key trends in the Off-road Motorcycles market in Turkey is the increasing demand for electric off-road motorcycles. With the growing awareness of environmental issues and the need for sustainable transportation solutions, consumers are seeking alternative options to traditional gasoline-powered motorcycles. Electric off-road motorcycles offer a cleaner and quieter riding experience, making them attractive to environmentally conscious riders. Additionally, advancements in battery technology have improved the performance and range of electric off-road motorcycles, further driving their popularity. Another trend in the market is the rise of off-road motorcycle clubs and communities in Turkey. These clubs organize events, races, and group rides, creating a sense of camaraderie among off-road motorcycle enthusiasts. The presence of these clubs has contributed to the growth of the market by promoting the sport and attracting new riders.

Local special circumstances: Turkey's diverse landscape and natural beauty make it an ideal destination for off-road motorcycle enthusiasts. From mountainous regions to coastal areas, Turkey offers a wide range of terrains for off-road riding. This unique geographical advantage has contributed to the popularity of off-road motorcycles in the country.

Underlying macroeconomic factors: The growing popularity of off-road motorcycles in Turkey can be attributed to several macroeconomic factors. Firstly, the increasing disposable income of the middle class has enabled more people to afford recreational vehicles such as off-road motorcycles. As the economy continues to grow, more individuals are able to pursue their hobbies and engage in outdoor activities. Additionally, the government's efforts to promote tourism in Turkey have indirectly benefited the Off-road Motorcycles market. The country has invested in developing off-road trails and adventure tourism infrastructure, attracting both domestic and international tourists. This has created a demand for off-road motorcycles as tourists seek to explore the country's natural landscapes. In conclusion, the Off-road Motorcycles market in Turkey is experiencing growth due to customer preferences for versatile and rugged motorcycles, the increasing demand for electric off-road motorcycles, the rise of off-road motorcycle clubs, Turkey's diverse landscape, and underlying macroeconomic factors such as rising disposable income and government initiatives to promote tourism.

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.