On-road Motorcycles - Georgia

Georgia

Highlights

The On-road Motorcycles market segment in Georgia is forecasted to generate a revenue of US$17.04m by 2024.
This market segment is expected to experience a steady annual growth rate of 4.02% from 2024 to 2029, resulting in a projected market volume of US$20.75m by 2029.
By that time, unit sales in the On-road Motorcycles market segment are expected to reach 2.51k motorcyles.
In 2024, the volume weighted average price of On-road Motorcycles market in Georgia is projected to be US$8.07k.
When considering the international market, it is noteworthy that India is expected to generate the highest revenue in the On-road Motorcycles market segment, reaching US$21.50bn in 2024.
Georgia is experiencing a surge in demand for on-road motorcycles, driven by its mountainous terrain and a growing interest in adventure tourism.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Georgia has been experiencing significant growth in recent years.

Customer preferences: Customers in Georgia have been increasingly drawn to on-road motorcycles due to their versatility and fuel efficiency. On-road motorcycles provide a convenient mode of transportation for daily commuting, as well as for recreational purposes. The compact size and maneuverability of these motorcycles make them ideal for navigating through traffic in urban areas. Additionally, the lower fuel consumption of on-road motorcycles compared to cars has made them an attractive option for cost-conscious consumers.

Trends in the market: One major trend in the on-road motorcycles market in Georgia is the increasing demand for electric motorcycles. With growing concerns about environmental sustainability and the need to reduce carbon emissions, many consumers are opting for electric motorcycles as a greener alternative to traditional gasoline-powered motorcycles. The availability of charging infrastructure and government incentives for electric vehicle adoption have further fueled the demand for electric motorcycles in Georgia. Another trend in the market is the rising popularity of higher displacement motorcycles. As consumers become more affluent, they are willing to invest in larger and more powerful motorcycles for both commuting and leisure purposes. This trend is driven by the desire for a more comfortable and powerful riding experience, as well as the prestige associated with owning a higher-end motorcycle brand.

Local special circumstances: Georgia's geographic landscape, with its diverse terrain and scenic routes, has contributed to the growth of the on-road motorcycles market. The country offers a wide range of riding experiences, from mountainous regions to coastal roads, making it an attractive destination for motorcycle enthusiasts. Additionally, the relatively mild climate in Georgia allows for year-round riding, further boosting the demand for on-road motorcycles.

Underlying macroeconomic factors: The overall economic growth in Georgia has had a positive impact on the on-road motorcycles market. As the country's economy has expanded, disposable incomes have increased, enabling more individuals to afford motorcycles. Moreover, the development of the tourism industry in Georgia has attracted a growing number of international visitors, many of whom rent or purchase motorcycles to explore the country. These factors have contributed to the overall growth and development of the on-road motorcycles market in Georgia.

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.