Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Belgium is experiencing steady growth due to several factors. Customer preferences for motorcycles as a mode of transportation have been increasing, leading to an increase in demand for on-road motorcycles. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.
Customer preferences: In Belgium, there is a growing preference for motorcycles as a mode of transportation. Motorcycles offer several advantages such as cost-effectiveness, convenience, and the ability to navigate through traffic easily. Many individuals are opting for motorcycles as a means to commute to work or for recreational purposes. This shift in customer preferences has led to an increase in the demand for on-road motorcycles in the country.
Trends in the market: One of the key trends in the on-road motorcycles market in Belgium is the increasing popularity of electric motorcycles. With a growing concern for the environment and a push towards sustainable transportation, electric motorcycles have gained traction among consumers. These motorcycles offer lower emissions and are seen as a greener alternative to traditional gasoline-powered motorcycles. As a result, there has been a rise in the production and sales of electric motorcycles in Belgium. Another trend in the market is the focus on safety features in on-road motorcycles. Customers are becoming more conscious about safety while riding motorcycles and are looking for advanced features such as anti-lock braking systems, traction control, and stability control. Motorcycle manufacturers are incorporating these features into their models to cater to the evolving customer preferences.
Local special circumstances: Belgium has a well-developed road infrastructure, which makes it conducive for motorcycle commuting. The country has a dense population and urban areas with heavy traffic congestion. Motorcycles offer a practical solution for navigating through traffic and reaching destinations quickly. Additionally, Belgium is known for its scenic landscapes and winding roads, making it an attractive destination for motorcycle enthusiasts. These local special circumstances have contributed to the growth of the on-road motorcycles market in Belgium.
Underlying macroeconomic factors: The overall economic stability in Belgium has played a significant role in the development of the on-road motorcycles market. With a stable economy, individuals have higher disposable incomes, which allows them to invest in recreational vehicles such as motorcycles. Additionally, favorable financing options and low-interest rates have made it easier for consumers to purchase motorcycles. These underlying macroeconomic factors have created a conducive environment for the growth of the on-road motorcycles market in Belgium. In conclusion, the on-road motorcycles market in Belgium is witnessing growth due to customer preferences for motorcycles as a mode of transportation, the popularity of electric motorcycles, the focus on safety features, local special circumstances, and underlying macroeconomic factors. As these trends continue to evolve, the market is expected to experience further development in the coming years.
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.
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