Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Brazil has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Brazil have been shifting towards motorcycles as a mode of transportation. This can be attributed to several factors. Firstly, motorcycles offer a cost-effective alternative to cars, which can be expensive to purchase and maintain. Secondly, motorcycles are well-suited for navigating Brazil's congested urban areas, where traffic can be a major issue. Finally, motorcycles provide a sense of freedom and mobility, allowing riders to easily navigate through crowded streets and reach their destinations more quickly. Trends in the On-road Motorcycles market in Brazil have also played a role in its development. One notable trend is the increasing popularity of electric motorcycles. As environmental concerns grow, more consumers are opting for electric vehicles, including motorcycles. This trend is expected to continue as the government implements policies to promote the use of electric vehicles and reduce carbon emissions. Another trend in the market is the rise of online sales channels. With the increasing availability of internet access and the convenience it offers, more consumers are choosing to purchase motorcycles online. This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in online shopping across various industries. Local special circumstances in Brazil have also contributed to the growth of the On-road Motorcycles market. Brazil has a large population and a growing middle class, which has increased the demand for affordable transportation options. Additionally, the country's diverse geography, with its vast coastlines, mountains, and rural areas, makes motorcycles an attractive choice for exploring and commuting. Underlying macroeconomic factors have also played a role in the development of the On-road Motorcycles market in Brazil. The country has experienced economic stability in recent years, with low inflation and steady GDP growth. This has created a favorable environment for consumer spending and investment in the automotive industry. In conclusion, the On-road Motorcycles market in Brazil is experiencing growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As customer preferences continue to shift towards motorcycles as a mode of transportation, and as trends such as the rise of electric motorcycles and online sales channels continue to evolve, the market is expected to further expand 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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