Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Europe is experiencing significant growth and development in recent years.
Customer preferences: European customers have shown a strong preference for on-road motorcycles due to their versatility, fuel efficiency, and ease of navigation through congested city streets. Additionally, the increasing popularity of leisure activities such as motorcycle touring and road trips has contributed to the growing demand for on-road motorcycles in Europe.
Trends in the market: One of the key trends in the European on-road motorcycles market is the rising demand for electric motorcycles. With increasing concerns about environmental sustainability and a shift towards cleaner modes of transportation, European customers are increasingly opting for electric motorcycles. This trend is further fueled by government incentives and subsidies for electric vehicles, making them more affordable and accessible to the general public. Another trend in the market is the growing popularity of retro-styled motorcycles. European customers have shown a strong affinity for vintage aesthetics and classic designs, leading to an increased demand for motorcycles with a retro look. This trend is evident in the market with the introduction of models that combine modern technology with nostalgic design elements.
Local special circumstances: Europe has a well-developed infrastructure and a network of scenic roads that make it an ideal region for motorcycle enthusiasts. The diverse landscapes and varying terrains across different European countries attract riders from all over the world. Furthermore, the presence of motorcycle-friendly laws and regulations in many European countries makes it easier for riders to enjoy their motorcycles on the road.
Underlying macroeconomic factors: The strong economic growth in Europe has contributed to the increasing disposable income of consumers, enabling them to invest in recreational activities such as motorcycle riding. Additionally, the availability of easy financing options and affordable insurance rates has made it more feasible for individuals to purchase on-road motorcycles. In conclusion, the on-road motorcycles market in Europe is witnessing significant growth due to customer preferences for versatile and fuel-efficient vehicles, the rising demand for electric motorcycles, and the popularity of retro-styled designs. The well-developed infrastructure, motorcycle-friendly laws, and strong economic growth in Europe further support 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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