On-road Motorcycles - Finland

Finland

Highlights

The On-road Motorcycles market segment in Finland is expected to generate a revenue of US$40.60m in 2024.
This revenue is projected to grow at an annual rate of 1.06% from 2024 to 2029, resulting in a market volume of US$42.79m by 2029.
In that year, the unit sales of On-road Motorcycles market segment are expected to reach 2.66k motorcyles.
The volume weighted average price of On-road Motorcycles market segment in 2024 is estimated to be US$16.01k.
When it comes to international comparisons, it is worth noting that India is expected to generate the highest revenue in the On-road Motorcycles market segment, amounting to US$21.50bn in 2024.
Finland is experiencing a growing demand for electric motorcycles, as consumers prioritize sustainability and environmental consciousness in their transportation choices.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Finland is experiencing steady growth due to customer preferences for efficient and eco-friendly transportation options.

Customer preferences: Customers in Finland are increasingly opting for on-road motorcycles as their primary mode of transportation. This is driven by several factors, including the desire for a more cost-effective and efficient means of commuting. On-road motorcycles offer a more affordable alternative to cars, with lower fuel consumption and maintenance costs. Additionally, they provide a quicker and more flexible mode of transportation, especially in congested urban areas. The compact size of on-road motorcycles also makes them easier to park and maneuver in tight spaces.

Trends in the market: One of the key trends in the on-road motorcycles market in Finland is the growing demand for electric motorcycles. As the country aims to reduce its carbon emissions and promote sustainable transportation, more consumers are turning to electric motorcycles as a greener alternative. Electric motorcycles offer zero-emission transportation, reducing the environmental impact of commuting. They also benefit from government incentives and subsidies, making them more affordable for consumers. This trend is expected to continue as the infrastructure for electric vehicles, including charging stations, continues to expand across the country. Another trend in the market is the rising popularity of smaller, lightweight motorcycles. These motorcycles are particularly favored by younger riders and urban dwellers who prioritize agility and ease of use. Smaller motorcycles are also more fuel-efficient, making them an attractive option for cost-conscious consumers. Manufacturers are responding to this trend by introducing a wider range of models with lower engine displacements and improved fuel efficiency.

Local special circumstances: Finland's unique geography and climate contribute to the popularity of on-road motorcycles. The country is known for its extensive network of well-maintained roads, making it ideal for motorcycle enthusiasts to explore the scenic landscapes. Additionally, Finland experiences long and cold winters, which can limit the use of motorcycles. However, advancements in technology, such as improved traction control and heated grips, have made it possible for riders to extend their riding season even in harsh weather conditions.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in Finland can also be attributed to favorable macroeconomic factors. The country has a strong economy with high levels of disposable income, allowing consumers to afford motorcycles as a recreational and practical mode of transportation. Additionally, the government has implemented policies to support the growth of the motorcycle industry, including tax incentives and subsidies for electric motorcycles. These factors, combined with changing consumer preferences and a focus on sustainability, are driving the development of the on-road motorcycles market in Finland.

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.