Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Central & Western Europe is experiencing significant development and growth.
Customer preferences: Customers in Central & Western Europe are increasingly showing a preference for on-road motorcycles. These motorcycles offer a convenient and efficient mode of transportation, especially in urban areas with heavy traffic. Additionally, on-road motorcycles are often more affordable than cars and provide a sense of freedom and adventure to riders. As a result, there is a growing demand for on-road motorcycles among both young and older demographics in the region.
Trends in the market: One of the key trends in the on-road motorcycles market in Central & Western Europe is the increasing popularity of electric motorcycles. With a growing emphasis on sustainability and reducing carbon emissions, consumers are turning to electric vehicles, including motorcycles. Electric motorcycles offer a greener alternative to traditional gasoline-powered motorcycles, and advancements in battery technology have improved their range and performance. This trend is expected to continue as governments in the region implement stricter emissions regulations and provide incentives for electric vehicle adoption. Another trend in the market is the rise of motorcycle sharing services. Similar to car-sharing platforms, motorcycle sharing services allow individuals to rent motorcycles for short periods of time. This trend is particularly prominent in urban areas where owning a motorcycle may not be practical or affordable for everyone. Motorcycle sharing services provide a convenient and cost-effective solution for individuals who need transportation for short trips or occasional use. This trend is driven by the increasing popularity of ride-sharing and the desire for flexible mobility options.
Local special circumstances: Central & Western Europe is home to several motorcycle manufacturers that have a strong presence in the region. These manufacturers, such as BMW, Ducati, and Triumph, have a loyal customer base and offer a wide range of on-road motorcycles to cater to different preferences and riding styles. Their presence in the market contributes to the overall growth and development of the on-road motorcycles market in the region. Additionally, the region's well-developed road infrastructure and favorable weather conditions for riding motorcycles contribute to the growth of the market. Central & Western Europe has a vast network of well-maintained roads and scenic routes that attract motorcycle enthusiasts. The region's mild climate also allows for year-round riding, further boosting the demand for on-road motorcycles.
Underlying macroeconomic factors: The growth of the on-road motorcycles market in Central & Western Europe is also influenced by underlying macroeconomic factors. The region has experienced steady economic growth, which has led to an increase in disposable income and consumer spending. As a result, more individuals are able to afford motorcycles and are willing to invest in them for personal transportation and recreational purposes. Furthermore, favorable financing options and low interest rates have made it easier for consumers to purchase motorcycles. Many manufacturers and dealerships offer attractive financing plans and promotions, making motorcycles more accessible to a wider range of customers. In conclusion, the on-road motorcycles market in Central & Western Europe is developing due to customer preferences for convenient and affordable transportation, as well as the growing popularity of electric motorcycles and motorcycle sharing services. The region's well-developed road infrastructure, favorable weather conditions, and the presence of renowned motorcycle manufacturers further contribute to the growth of the market. Additionally, underlying macroeconomic factors such as steady economic growth and favorable financing options play a role in driving the market's 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.
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