On-road Motorcycles - Croatia

Croatia

Highlights

The On-road Motorcycles market segment in Croatia is expected to generate a revenue of US$26.22m in 2024.
This market is projected to grow at an annual rate of 5.27% from 2024 to 2029, resulting in a market volume of US$33.89m by 2029.
By that year, the unit sales in the On-road Motorcycles market segment are estimated to reach 2.54k motorcyles.
In 2024, the volume weighted average price of On-road Motorcycles market in Croatia is expected to be US$13.12k.
When comparing international markets, India is projected to generate the highest revenue in the segment, reaching US$21.50bn in 2024.
Croatia's motorcycle market is witnessing a surge in demand for adventure touring motorcycles, fueled by the country's beautiful coastal roads and scenic landscapes.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: In Croatia, there has been a growing preference for on-road motorcycles among consumers. This can be attributed to several factors. Firstly, on-road motorcycles offer a convenient and efficient mode of transportation, especially in urban areas where traffic congestion is a common issue. Secondly, the increasing popularity of adventure tourism and recreational activities has also contributed to the demand for on-road motorcycles, as they provide an exciting and thrilling experience for riders. Additionally, the affordability and accessibility of on-road motorcycles have made them a preferred choice for many consumers.

Trends in the market: One of the key trends in the on-road motorcycles market in Croatia is the shift towards electric motorcycles. With the growing concern for environmental sustainability and the need to reduce carbon emissions, electric motorcycles have gained popularity among environmentally conscious consumers. These motorcycles offer a clean and eco-friendly alternative to traditional gasoline-powered motorcycles. Furthermore, advancements in battery technology have improved the range and performance of electric motorcycles, making them a viable option for everyday commuting. Another trend in the market is the increasing demand for smaller and more lightweight motorcycles. This can be attributed to the rising popularity of urban commuting and the need for maneuverability in congested city streets. Compact and lightweight motorcycles are easier to handle and park, making them ideal for navigating through traffic. Additionally, these motorcycles are more fuel-efficient, which is a key consideration for cost-conscious consumers.

Local special circumstances: Croatia's geographical location and natural landscapes have contributed to the growth of the on-road motorcycles market. The country is known for its beautiful coastline, mountains, and scenic routes, making it an attractive destination for motorcycle enthusiasts and tourists. The availability of well-maintained roads and infrastructure for motorcycle tourism has further fueled the demand for on-road motorcycles in the country.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in Croatia can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among consumers. This has allowed more individuals to afford and purchase motorcycles. Additionally, low interest rates and favorable financing options have made it easier for consumers to finance their motorcycle purchases. In conclusion, the on-road motorcycles market in Croatia is witnessing significant growth due to changing customer preferences, emerging trends such as the shift towards electric motorcycles and smaller, lightweight models, local special circumstances such as the country's natural landscapes, and favorable macroeconomic factors including steady economic growth and favorable financing options. As these factors continue to influence the market, the on-road motorcycles industry in Croatia is expected to thrive in the coming years.

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.