Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in BRICS is experiencing significant growth and development due to various customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the On-road Motorcycles market in BRICS are playing a crucial role in driving its growth. Customers in these countries are increasingly looking for affordable and fuel-efficient transportation options. On-road motorcycles provide a cost-effective solution for daily commuting, especially in congested urban areas. Additionally, the younger generation in BRICS countries is showing a growing interest in motorcycles as a symbol of freedom and adventure. Trends in the market are also contributing to the development of the On-road Motorcycles market in BRICS. One prominent trend is the increasing demand for electric motorcycles. With growing concerns about environmental pollution and rising fuel prices, customers are seeking more sustainable transportation options. Electric motorcycles offer a clean and efficient alternative to traditional gasoline-powered bikes. This trend is particularly evident in countries like China and India, where governments are actively promoting the adoption of electric vehicles through subsidies and incentives. Another trend in the market is the rise of online sales channels. E-commerce platforms have gained popularity in BRICS countries, allowing customers to conveniently browse and purchase motorcycles online. This trend has significantly expanded the reach of motorcycle manufacturers and has made it easier for customers to access a wide range of options. Additionally, online platforms provide customers with detailed product information and customer reviews, enabling them to make informed purchasing decisions. Local special circumstances also play a role in the development of the On-road Motorcycles market in BRICS. For example, in Brazil, motorcycles are often used as a cost-effective mode of transportation due to limited public transport infrastructure. In India, motorcycles are preferred over cars due to their maneuverability in congested traffic conditions. These local circumstances create a favorable environment for the growth of the On-road Motorcycles market in these countries. Underlying macroeconomic factors further contribute to the development of the On-road Motorcycles market in BRICS. Economic growth and rising disposable incomes in these countries have led to an increase in consumer spending. As a result, more individuals are able to afford motorcycles for personal transportation. Additionally, favorable government policies, such as tax incentives and subsidies, have further stimulated the demand for motorcycles in BRICS countries. In conclusion, the On-road Motorcycles market in BRICS is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for affordable and fuel-efficient transportation options, the rise of electric motorcycles, the popularity of online sales channels, and favorable local circumstances are driving the growth of this market in BRICS countries.
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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