On-road Motorcycles - Australia

Australia

Highlights

Revenue in the On-road Motorcycles market segment in Australia is projected to reach US$724.80m in 2024.
The market is expected to grow at an annual rate of 1.42% from 2024 to 2029, resulting in a projected market volume of US$777.60m by 2029.
By 2029, unit sales in the On-road Motorcycles market segment in Australia are expected to reach 54.26k motorcyles.
The volume weighted average price of On-road Motorcycles market in Australia in 2024 is projected to be US$14.18k.
From an international perspective, it is evident that India will generate the most revenue in the On-road Motorcycles market segment, with US$21.50bn in 2024.
The Australian motorcycle market is experiencing a surge in demand for adventure motorcycles due to the country's vast and diverse landscapes.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Australia has been experiencing steady growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences play a significant role in shaping the On-road Motorcycles market in Australia. Australian consumers have shown a growing preference for motorcycles as a mode of transportation due to their affordability, fuel efficiency, and convenience in navigating through urban areas with heavy traffic. Additionally, the popularity of adventure tourism and outdoor recreational activities has also contributed to the demand for motorcycles, as they provide a thrilling and adventurous experience for riders. In terms of market trends, there has been a noticeable shift towards electric motorcycles in Australia. With increasing concerns about environmental sustainability and rising fuel prices, consumers are becoming more inclined towards electric vehicles, including motorcycles. The government's initiatives to promote electric mobility and reduce carbon emissions have further accelerated this trend. As a result, motorcycle manufacturers have been introducing a wider range of electric models to cater to the growing demand. Local special circumstances also play a role in the development of the On-road Motorcycles market in Australia. The country's vast and diverse landscape, including its long stretches of open roads and scenic coastal routes, makes it an ideal destination for motorcycle enthusiasts. This has led to a thriving motorcycle tourism industry, with both domestic and international riders exploring the country on their motorcycles. The popularity of motorcycle touring and road trips has contributed to the growth of the market, as riders seek motorcycles that are comfortable, reliable, and suitable for long-distance travel. Underlying macroeconomic factors also influence the On-road Motorcycles market in Australia. The country's strong economy, low unemployment rate, and disposable income levels have created a favorable environment for consumer spending. As a result, more Australians are able to afford motorcycles and are willing to invest in them as a means of transportation or recreational activity. Additionally, favorable interest rates and financing options provided by financial institutions have made motorcycles more accessible to a wider range of consumers. In conclusion, the On-road Motorcycles market in Australia is developing due to customer preferences for affordable and fuel-efficient transportation options, market trends towards electric motorcycles, local special circumstances such as motorcycle tourism, and underlying macroeconomic factors such as a strong economy and favorable financing options. These factors collectively contribute to the growth and evolution of the market, making it an attractive industry for manufacturers and consumers alike.

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.