On-road Motorcycles - Americas

Americas

In 2024, the projected revenue in the On-road Motorcycles market segment in the Americas is expected to reach US$19.09bn.
This market segment is anticipated to experience an annual growth rate of 4.41% (CAGR 2024-2029), resulting in a projected market volume of US$23.69bn by 2029.
By that time, the unit sales in the On-road Motorcycles market segment are expected to reach 3.91m motorcyles.
Additionally, the volume weighted average price of On-road Motorcycles market in 2024 is projected to be US$5.93k.
It is worth noting that, from an international perspective, India is expected to generate the highest revenue in the On-road Motorcycles market segment, with US$21,500.00m in 2024.
In the United States, there is a growing trend towards electric motorcycles as consumers prioritize sustainability and fuel efficiency.

Key regions: Nigeria, United States, Spain, Vietnam, Indonesia

Market

Region

Region comparison

Currency

Analyst Opinion

The On-road Motorcycles market in Americas is experiencing steady growth due to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In the Americas, there is a growing preference for on-road motorcycles among consumers. One reason for this is the increasing popularity of recreational activities such as motorcycle touring and road trips. On-road motorcycles provide a sense of freedom and adventure, allowing riders to explore the vast landscapes of the Americas. Additionally, on-road motorcycles are often seen as a more practical and cost-effective mode of transportation in urban areas, where traffic congestion and limited parking spaces are common.

Trends in the market: One of the key trends in the on-road motorcycles market in the Americas is the growing demand for electric motorcycles. As environmental concerns and sustainability become more prominent, consumers are seeking alternative modes of transportation that are eco-friendly. Electric motorcycles offer a greener and quieter option compared to traditional gasoline-powered motorcycles. This trend is driven by advancements in battery technology, which have improved the range and performance of electric motorcycles. Another trend in the market is the increasing popularity of retro-style motorcycles. These motorcycles are designed to resemble classic models from the past, appealing to consumers who appreciate vintage aesthetics and nostalgia. Retro-style motorcycles often feature modern technology and performance enhancements, offering a blend of old-school charm and contemporary functionality.

Local special circumstances: The Americas is a diverse region with varying local circumstances that impact the on-road motorcycles market. In North America, for example, there is a strong motorcycle culture, with dedicated communities and events that attract enthusiasts. This cultural aspect contributes to the demand for on-road motorcycles and fosters a vibrant market. In South America, on the other hand, motorcycles are often used as a primary mode of transportation due to their affordability and maneuverability in congested urban areas. This practicality drives the demand for on-road motorcycles, especially smaller displacement models that are more fuel-efficient and easier to navigate through traffic.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in the Americas is also influenced by underlying macroeconomic factors. Economic stability and rising disposable incomes in many countries within the region have increased consumer purchasing power. As a result, more individuals are able to afford on-road motorcycles and are willing to invest in them for both recreational and practical purposes. Additionally, government policies and regulations play a role in shaping the market. In some countries, incentives and subsidies are provided to promote the adoption of electric motorcycles, further driving their demand. On the other hand, import tariffs and taxes can impact the affordability and availability of on-road motorcycles, influencing consumer choices. In conclusion, the on-road motorcycles market in the Americas is growing due to customer preferences for recreational and practical transportation options, as well as trends such as the rise of electric and retro-style motorcycles. Local special circumstances, such as the motorcycle culture in North America and the practicality of motorcycles in South America, further contribute to market growth. Economic stability and government policies also play a role in shaping the market. Overall, the future of the on-road motorcycles market in the Americas looks promising as consumer demand continues to evolve.

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.