Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in EU-27 has been experiencing significant growth in recent years, driven by customer preferences for more fuel-efficient and environmentally friendly transportation options.
Customer preferences: Customers in the EU-27 have shown a strong preference for on-road motorcycles due to their affordability, versatility, and ease of use. On-road motorcycles offer a cost-effective means of transportation, especially in congested urban areas where parking and traffic can be major challenges. Additionally, the rising cost of fuel has made motorcycles an attractive alternative to traditional cars for many consumers.
Trends in the market: One of the key trends in the On-road Motorcycles market in EU-27 is the increasing demand for electric motorcycles. As concerns about air pollution and climate change continue to grow, customers are seeking more sustainable transportation options. Electric motorcycles offer a cleaner and greener alternative to traditional gasoline-powered bikes, and advancements in battery technology have improved their range and performance. This trend is expected to continue as governments and regulatory bodies in the EU-27 implement stricter emissions standards and provide incentives for electric vehicle adoption. Another trend in the market is the growing popularity of smaller displacement motorcycles. In densely populated urban areas, where space is limited and traffic congestion is high, smaller motorcycles are more maneuverable and easier to park. Additionally, smaller motorcycles are generally more affordable and have lower operating costs, making them an attractive option for budget-conscious consumers. This trend is expected to continue as urbanization rates increase and more people migrate to cities.
Local special circumstances: The On-road Motorcycles market in EU-27 is also influenced by local special circumstances. For example, in countries with a strong motorcycle culture, such as Italy and Spain, the market for on-road motorcycles is particularly robust. These countries have a long history of motorcycle manufacturing and racing, and motorcycles are deeply ingrained in their cultural fabric. As a result, the demand for on-road motorcycles is higher in these countries compared to others in the EU-27.
Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the On-road Motorcycles market in EU-27. Firstly, the overall economic growth in the region has led to an increase in disposable income, enabling more consumers to afford motorcycles. Additionally, low-interest rates have made it easier for consumers to finance motorcycle purchases, further stimulating demand. Lastly, the increasing popularity of ride-sharing platforms and food delivery services has created new opportunities for on-road motorcycles, as they provide a cost-effective and efficient means of transportation for these purposes. In conclusion, the On-road Motorcycles market in EU-27 is developing due to customer preferences for affordable and environmentally friendly transportation options. The increasing demand for electric motorcycles and smaller displacement bikes, as well as local special circumstances and underlying macroeconomic factors, are driving the growth of this market.
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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