On-road Motorcycles - Asia

Asia

The projected revenue for the On-road Motorcycles market segment in 2024 is estimated to be US$67.07bn.
It is anticipated that the revenue will experience an annual growth rate of 2.71% from 2024 to 2029, resulting in a projected market volume of US$76.66bn by 2029.
In that same year, it is expected that the unit sales for the On-road Motorcycles market segment will reach 30.23m motorcyles.
The volume weighted average price for the On-road Motorcycles market segment in 2024 is projected to be US$2.38k.
When considering the international perspective, it is evident that India will generate the highest revenue in the segment, with an estimated revenue of US$21,500.00m in 2024.
It is important to note that these figures pertain specifically to the On-road Motorcycles market market segment within the continent of Asia.
In Japan, the demand for high-performance sport bikes is driving the on-road motorcycle market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The On-road Motorcycles market in Asia has been experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this positive trajectory. Customer preferences play a crucial role in driving the growth of the On-road Motorcycles market in Asia. In many Asian countries, motorcycles are a popular mode of transportation due to their affordability, fuel efficiency, and ability to navigate through congested city streets. Additionally, motorcycles are often seen as a symbol of freedom and independence, particularly among the younger population. These factors have led to a strong demand for on-road motorcycles in the region. Trends in the market have also contributed to the growth of the On-road Motorcycles market in Asia. One notable trend is the increasing popularity of electric motorcycles. With a growing emphasis on sustainability and environmental consciousness, many Asian consumers are opting for electric motorcycles as a greener alternative to traditional gasoline-powered bikes. This shift towards electric motorcycles is further supported by government incentives and initiatives promoting the adoption of electric vehicles. Another trend in the market is the introduction of advanced features and technologies in on-road motorcycles. Manufacturers are constantly innovating to meet the evolving needs and preferences of consumers. Features such as integrated navigation systems, smartphone connectivity, and advanced safety features are becoming increasingly common in on-road motorcycles. These technological advancements not only enhance the riding experience but also contribute to the overall growth of the market. Local special circumstances also play a role in the development of the On-road Motorcycles market in Asia. In countries with limited public transportation infrastructure, motorcycles provide a practical and efficient means of transportation. Additionally, the presence of large urban populations with limited parking space further drives the demand for compact and maneuverable motorcycles. Underlying macroeconomic factors have also contributed to the growth of the On-road Motorcycles market in Asia. Rising disposable incomes, particularly in emerging economies, have made motorcycles more affordable and accessible to a larger segment of the population. Economic growth and urbanization have also led to an increase in the number of people commuting to work, further driving the demand for on-road motorcycles. In conclusion, the On-road Motorcycles market in Asia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for affordable and efficient transportation, the popularity of electric motorcycles, the introduction of advanced features, and the presence of urban populations with limited parking space are all contributing to the positive trajectory of the market.

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.