On-road Motorcycles - Israel

Israel

The On-road Motorcycles market segment in Israel is predicted to generate a revenue of US$22.48m in 2024.
This market is expected to experience an annual growth rate of 1.16% from 2024 to 2029, resulting in a projected market volume of US$23.81m by 2029.
Unit sales in this segment are expected to reach 4.17k motorcyles in 2029.
The volume weighted average price of On-road Motorcycles market in Israel is projected to be US$5.57k in 2024.
In terms of international comparison, India is expected to generate the highest revenue in 2024, amounting to US$21,500.00m.
Israel's on-road motorcycle market is experiencing a surge in demand due to the country's favorable climate and extensive network of scenic routes.

Key regions: Nigeria, United States, Spain, Vietnam, Indonesia

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Analyst Opinion

The On-road Motorcycles market in Israel has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: In Israel, there has been a growing demand for on-road motorcycles as a means of transportation and recreational activity. Many customers are attracted to the convenience and cost-effectiveness of motorcycles compared to cars. Additionally, there is a strong interest in motorcycles among young adults and urban dwellers who value the freedom and flexibility that motorcycles offer.

Trends in the market: One of the key trends in the on-road motorcycles market in Israel is the increasing popularity of electric motorcycles. As the country strives to reduce its carbon footprint and promote sustainable transportation, there has been a growing interest in electric vehicles, including motorcycles. The availability of government incentives and the development of charging infrastructure have further fueled the adoption of electric motorcycles in Israel. Another trend in the market is the rise of motorcycle-sharing services. Similar to the global trend of ride-sharing, motorcycle-sharing platforms have gained traction in Israel, especially in densely populated urban areas. These services provide an affordable and convenient alternative to traditional motorcycle ownership, appealing to customers who only need a motorcycle for occasional use or short trips.

Local special circumstances: Israel's unique geographic and cultural characteristics also contribute to the development of the on-road motorcycles market. The country's compact size and well-maintained road network make it ideal for motorcycle use. Furthermore, the warm climate and scenic landscapes attract motorcycle enthusiasts and tourists alike, boosting the demand for on-road motorcycles.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in Israel is also influenced by underlying macroeconomic factors. The country's stable economy and rising disposable income levels have enabled more consumers to afford motorcycles. Additionally, the government's efforts to promote tourism have attracted a growing number of visitors, creating a potential customer base for motorcycle rentals and tours. In conclusion, the on-road motorcycles market in Israel is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increasing popularity of electric motorcycles and motorcycle-sharing services, combined with Israel's favorable geographic and cultural characteristics, have contributed to the market's development. With ongoing support from the government and continued economic stability, the on-road motorcycles market in Israel is expected to continue its upward trajectory.

Methodology

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.