On-road Motorcycles - Brunei Darussalam

Brunei Darussalam

Highlights

The projected revenue in the On-road Motorcycles market segment in Brunei Darussalam is expected to reach US$225.40k in 2024.
This forecasted revenue is estimated to grow at an annual growth rate (CAGR 2024-2029) of 1.82%, resulting in a projected market volume of US$246.60k by 2029.
By 2029, it is anticipated that the unit sales in the On-road Motorcycles market segment will reach 58.00motorcyles.
In 2024, the volume weighted average price of On-road Motorcycles market in Brunei Darussalam is expected to amount to US$4.10k.
From an international perspective, it is evident that India is projected to generate the highest revenue in the On-road Motorcycles market segment, with an estimated revenue of US$21.50bn in 2024.
Brunei Darussalam has seen a surge in demand for electric on-road motorcycles, reflecting the country's commitment to sustainable transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Brunei Darussalam is experiencing significant growth and development.

Customer preferences: In Brunei Darussalam, customers have shown a strong preference for on-road motorcycles due to their convenience and affordability. On-road motorcycles are a popular mode of transportation for daily commuting, especially in urban areas where traffic congestion is a common issue. Additionally, the compact size and maneuverability of on-road motorcycles make them suitable for navigating through narrow streets and crowded areas.

Trends in the market: One of the key trends in the on-road motorcycles market in Brunei Darussalam is the increasing demand for electric motorcycles. As the government and consumers become more environmentally conscious, there is a growing interest in electric vehicles, including motorcycles. Electric motorcycles offer lower operating costs and reduced emissions, making them an attractive option for eco-conscious consumers. Furthermore, advancements in battery technology have improved the performance and range of electric motorcycles, addressing previous concerns about limited mileage. Another trend in the market is the rising popularity of sport and performance motorcycles. Bruneians are increasingly interested in motorcycles that offer higher speed and better acceleration. This trend can be attributed to the growing popularity of motorsports and the influence of international motorcycle racing events. As a result, motorcycle manufacturers are introducing new models with advanced features and technologies to cater to this demand.

Local special circumstances: Brunei Darussalam has a relatively small population and limited land area, which has contributed to the popularity of on-road motorcycles. The compact size of motorcycles makes them a practical choice for navigating the country's road network, which consists of both urban and rural areas. Additionally, the affordability of motorcycles compared to other modes of transportation, such as cars, makes them an accessible option for a large portion of the population.

Underlying macroeconomic factors: The strong economic growth in Brunei Darussalam has played a significant role in the development of the on-road motorcycles market. As the country's economy continues to expand, more individuals have the financial means to purchase motorcycles for personal transportation. Additionally, the government's efforts to improve infrastructure, including road networks and public transportation systems, have also contributed to the growth of the on-road motorcycles market. In conclusion, the on-road motorcycles market in Brunei Darussalam is experiencing growth and development due to customer preferences for convenience and affordability, the increasing demand for electric motorcycles, the rising popularity of sport and performance motorcycles, the country's unique circumstances, and the underlying macroeconomic factors such as strong economic growth and infrastructure development.

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.