On-road Motorcycles - Central Asia

Central Asia

The Central Asian market segment for On-road Motorcycles market is expected to witness significant growth in the coming years.
According to projections, the revenue in this segment is estimated to reach US$112.70m by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 1.48% (CAGR 2024-2029), resulting in a projected market volume of US$121.30m by 2029.
In terms of unit sales, it is predicted that the On-road Motorcycles market segment will reach 20.93k motorcyles units by 2029.
This growth can be attributed to various factors such as increasing consumer demand and favorable market conditions.
Moreover, the volume weighted average price of On-road Motorcycles market in 2024 is expected to be around US$5.68k.
This figure demonstrates the market's willingness to pay for the products in this segment, indicating a positive outlook for manufacturers and retailers operating in Central Asia.
From an international perspective, India is projected to generate the highest revenue in the On-road Motorcycles market segment, with an estimated amount of US$21,500.00m in 2024.
This highlights the country's significant contribution to the overall market and signifies its prominence in the industry.
Central Asia is experiencing a surge in demand for on-road motorcycles, driven by the region's vast and diverse landscapes, which offer thrilling riding experiences.

Key regions: Nigeria, United States, Spain, Vietnam, Indonesia

Market

Region

Region comparison

Currency

Analyst Opinion

The On-road Motorcycles market in Central Asia is experiencing significant growth and development due to several key factors. Customer preferences in the region play a crucial role in driving the demand for on-road motorcycles. Central Asian customers are increasingly looking for affordable and fuel-efficient transportation options, and on-road motorcycles provide a cost-effective solution. Additionally, the compact size and maneuverability of on-road motorcycles make them well-suited for navigating the region's congested urban areas and narrow roads. One of the trends in the on-road motorcycles market in Central Asia is the increasing popularity of electric motorcycles. As concerns about environmental sustainability and rising fuel prices grow, more customers are opting for electric motorcycles as a greener and more economical alternative. The advancements in battery technology and the availability of charging infrastructure have also contributed to the growing acceptance of electric motorcycles in the region. Another trend in the market is the rising demand for higher-powered motorcycles. As the standard of living improves in Central Asia, customers are willing to invest in more powerful and performance-oriented motorcycles. This trend is particularly evident among younger riders who are attracted to the thrill and excitement of riding high-performance motorcycles. As a result, manufacturers are introducing new models with advanced features and higher engine capacities to cater to this growing segment. Local special circumstances also contribute to the development of the on-road motorcycles market in Central Asia. The region's rugged terrain and vast open spaces make motorcycles a practical mode of transportation for both urban and rural areas. In rural areas, motorcycles are often used for agricultural purposes and transportation of goods. Additionally, the relatively low cost of ownership and maintenance makes motorcycles an attractive option for individuals and small businesses in the region. Underlying macroeconomic factors also play a significant role in the growth of the on-road motorcycles market in Central Asia. The region's improving economic conditions, rising disposable incomes, and expanding middle class have led to an increase in consumer spending power. As a result, more individuals are able to afford motorcycles, leading to a higher demand for on-road motorcycles in the market. In conclusion, the on-road motorcycles market in Central Asia is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As customers in the region seek affordable and fuel-efficient transportation options, on-road motorcycles provide a cost-effective solution. The rising popularity of electric motorcycles and the demand for higher-powered motorcycles are driving the market's growth. Additionally, the region's rugged terrain and improving economic conditions contribute to the development of the on-road motorcycles market in Central Asia.

Methodology

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.