Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in GCC is witnessing significant growth and development due to various factors.
Customer preferences: Customers in the GCC region are increasingly opting for on-road motorcycles due to their convenience, affordability, and versatility. On-road motorcycles provide a cost-effective mode of transportation for daily commuting, especially in congested urban areas. Additionally, the younger population in the region is showing a growing interest in motorcycles as a means of recreation and adventure. These customer preferences are driving the demand for on-road motorcycles in the GCC market.
Trends in the market: One of the key trends in the on-road motorcycles market in the GCC is the increasing popularity of electric motorcycles. With the growing focus on sustainability and environmental consciousness, customers are gravitating towards electric vehicles, including motorcycles. Electric motorcycles offer benefits such as zero emissions, lower operating costs, and reduced noise pollution. This trend is expected to continue as more electric motorcycle models become available in the market. Another trend in the market is the rise of motorcycle ride-sharing services. Similar to car-sharing platforms, motorcycle ride-sharing services are gaining traction in the GCC region. These services provide customers with an affordable and convenient way to travel short distances, especially in congested areas where traditional transportation options may be limited. The increasing popularity of motorcycle ride-sharing is contributing to the overall growth of the on-road motorcycles market in the GCC.
Local special circumstances: The GCC region has a favorable climate for motorcycle riding, with warm weather throughout the year. This makes motorcycles an attractive mode of transportation for both daily commuting and recreational purposes. Additionally, the region's well-developed road infrastructure and extensive network of highways make it conducive for motorcycle travel. These local special circumstances further contribute to the growth of the on-road motorcycles market in the GCC.
Underlying macroeconomic factors: The GCC region is experiencing rapid urbanization and economic growth, which is driving the demand for personal transportation. As more people move to urban areas and join the workforce, the need for efficient and affordable transportation options increases. On-road motorcycles provide a cost-effective solution for daily commuting, especially in congested cities where traffic congestion and limited parking spaces are common. The growing urban population and economic prosperity in the GCC region are key underlying macroeconomic factors fueling the development of the on-road motorcycles 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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