On-road Motorcycles - Chile

Chile

Highlights

The projected revenue for the On-road Motorcycles market segment in Chile is expected to reach US$131.50m in 2024.
This market is anticipated to experience a steady annual growth rate (CAGR 2024-2029) of 2.22%, resulting in a projected market volume of US$146.80m by 2029.
By that time, the unit sales in the On-road Motorcycles market segment are expected to reach 32.43k motorcyles.
In 2024, the volume weighted average price of On-road Motorcycles market in Chile is projected to be US$4.38k.
When considering the international market, it is worth noting that India is expected to generate the highest revenue, reaching US$21.50bn in 2024.
Chile's on-road motorcycle market is experiencing a surge in sales due to the growing popularity of adventure tourism in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Chile has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: In Chile, there is a growing demand for on-road motorcycles due to their versatility and cost-effectiveness. Many customers are opting for motorcycles as a means of transportation, especially in urban areas where traffic congestion is a common issue. On-road motorcycles provide a convenient and efficient mode of transportation, allowing riders to navigate through traffic and reach their destinations quickly. Additionally, motorcycles are also popular among adventure enthusiasts who enjoy exploring Chile's diverse landscapes and natural beauty.

Trends in the market: One of the key trends in the on-road motorcycles market in Chile is the increasing popularity of electric motorcycles. As sustainability becomes a global priority, more customers are looking for eco-friendly alternatives to traditional gasoline-powered motorcycles. Electric motorcycles offer a clean and efficient mode of transportation, with lower emissions and reduced operating costs. The Chilean government has also been promoting the adoption of electric vehicles, including motorcycles, through various incentives and subsidies, further driving the demand for electric motorcycles. Another trend in the market is the growing demand for smaller and more affordable motorcycles. Many customers, especially young riders and first-time buyers, are seeking motorcycles that are easy to handle, fuel-efficient, and affordable. This trend is driven by the need for economical transportation options and the desire for personal mobility. Motorcycle manufacturers are responding to this trend by introducing smaller models with lower engine displacements and competitive pricing.

Local special circumstances: Chile's geography and climate also play a role in the development of the on-road motorcycles market. The country's diverse terrain, ranging from the Andes Mountains to the Pacific coastline, offers ample opportunities for motorcycle enthusiasts to explore and experience different riding conditions. Additionally, Chile's mild climate allows for year-round motorcycle riding, further contributing to the market's growth.

Underlying macroeconomic factors: Chile's stable and growing economy has also contributed to the development of the on-road motorcycles market. With a rising middle class and increasing disposable income, more consumers have the financial means to purchase motorcycles. Additionally, the availability of financing options and favorable interest rates have made motorcycles more accessible to a broader range of customers. In conclusion, the on-road motorcycles market in Chile is experiencing significant growth due to changing customer preferences, emerging trends such as the demand for electric motorcycles and smaller, more affordable models, as well as local special circumstances such as Chile's diverse geography and mild climate. The country's stable economy and increasing disposable income also contribute to the market's expansion.

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.