On-road Motorcycles - Eastern Asia

Eastern Asia

Highlights

In 2024, it is projected that the revenue in the On-road Motorcycles market segment in Eastern Asia will reach a staggering US$20.06bn.
This segment is expected to experience a steady annual growth rate (CAGR 2024-2029) of 2.36%, which will result in a projected market volume of approximately US$22.53bn by 2029.
Furthermore, the unit sales of On-road Motorcycles market in this region are expected to reach 10.73m motorcyles in 2029.
Looking specifically at the year 2024, the volume weighted average price of On-road Motorcycles market in Eastern Asia is predicted to be US$1.88k.
When considering the international market, it is worth noting that India is expected to generate the highest revenue in this segment, amounting to a significant US$21.50bn in 2024.
In Japan, the trend for on-road motorcycles is towards smaller, more economical models that are well-suited for urban commuting.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Eastern Asia has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards motorcycles as a preferred mode of transportation due to their affordability, fuel efficiency, and convenience. With the increasing urbanization and population density in countries like China, Japan, and South Korea, motorcycles have become a popular choice for commuting in congested city streets. Additionally, motorcycles are seen as a symbol of freedom and adventure, appealing to younger consumers who are looking for an exciting and affordable way to travel. Trends in the market indicate a growing demand for electric motorcycles in Eastern Asia. This can be attributed to several factors, including government initiatives to promote clean and sustainable transportation, rising environmental concerns, and advancements in battery technology. Electric motorcycles offer a greener alternative to traditional gasoline-powered motorcycles, with zero emissions and lower operating costs. As a result, manufacturers in the region are investing in research and development to improve the performance and range of electric motorcycles, making them a viable option for consumers. Local special circumstances in Eastern Asia also contribute to the development of the On-road Motorcycles market. For example, in China, motorcycles are a popular choice for food delivery services due to their maneuverability in congested city streets. This has led to a surge in demand for motorcycles in the country, particularly among delivery companies. In Japan, motorcycles are often used for recreational purposes, such as touring and weekend getaways, contributing to the growth of the market. Underlying macroeconomic factors, such as income levels and population growth, play a significant role in the development of the On-road Motorcycles market in Eastern Asia. As disposable incomes rise in countries like China and South Korea, more individuals are able to afford motorcycles as a means of transportation. Additionally, the growing population in the region creates a larger customer base for motorcycle manufacturers, driving demand for their products. In conclusion, the On-road Motorcycles market in Eastern Asia is experiencing growth due to customer preferences for affordable and convenient transportation options, the increasing demand for electric motorcycles, local special circumstances such as the rise of food delivery services, and underlying macroeconomic factors such as rising incomes and population growth. As the market continues to evolve, manufacturers in the region will need to adapt to changing consumer preferences and invest in innovative technologies to stay competitive.

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.