On-road Motorcycles - Kazakhstan

Kazakhstan

The revenue in the On-road Motorcycles market segment in Kazakhstan is projected to reach US$24.75m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 1.74%, resulting in a projected market volume of US$26.98m by 2029.
The unit sales in the On-road Motorcycles market segment in Kazakhstan are expected to reach 7.69k motorcyles in 2029.
The volume weighted average price of On-road Motorcycles market segment in Kazakhstan in 2024 is expected to amount to US$3.42k.
From an international perspective, it is shown that the most revenue will be generated India, with US$21,500.00m in 2024.
Despite a growing interest in electric motorcycles globally, Kazakhstan's on-road motorcycle market continues to be dominated by petrol-powered bikes.

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

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Analyst Opinion

The On-road Motorcycles market in Kazakhstan is experiencing significant growth due to customer preferences for efficient and affordable transportation options, as well as the country's unique local circumstances and underlying macroeconomic factors.

Customer preferences: Kazakhstan is a vast country with a diverse landscape, ranging from urban areas to rural regions. Many customers in Kazakhstan prefer on-road motorcycles as a mode of transportation due to their affordability and fuel efficiency. On-road motorcycles are particularly popular among young adults and commuters who need a cost-effective and convenient means of getting around.

Trends in the market: One major trend in the On-road Motorcycles market in Kazakhstan is the increasing demand for electric motorcycles. As the global trend towards sustainable transportation gains momentum, more customers in Kazakhstan are opting for electric motorcycles as a greener alternative to traditional gasoline-powered bikes. This trend is driven by a combination of environmental consciousness and the availability of government incentives for electric vehicle adoption. Another trend in the market is the growing popularity of larger displacement motorcycles. While smaller displacement motorcycles have traditionally dominated the market, there is a rising demand for more powerful bikes among motorcycle enthusiasts and riders who enjoy long-distance touring. This trend is influenced by the desire for enhanced performance and comfort on the road.

Local special circumstances: Kazakhstan's geography and road infrastructure play a significant role in shaping the On-road Motorcycles market. The country's vast territory and diverse terrain make motorcycles a practical choice for navigating through different landscapes. Additionally, the relatively low population density in certain regions of Kazakhstan makes motorcycles an ideal mode of transportation for reaching remote areas. Furthermore, the presence of a strong motorcycle culture in Kazakhstan contributes to the market's development. Motorcycling is not only seen as a means of transportation but also as a recreational activity and a way to connect with like-minded individuals. This cultural aspect fosters a sense of community among motorcycle enthusiasts and drives the demand for on-road motorcycles.

Underlying macroeconomic factors: Kazakhstan's growing economy and increasing disposable income levels are important factors driving the expansion of the On-road Motorcycles market. As the country's middle class continues to grow, more individuals have the financial means to purchase motorcycles for personal use. Additionally, the development of the tourism industry in Kazakhstan has led to an increase in motorcycle rentals and guided tours, further boosting the demand for on-road motorcycles. Furthermore, government initiatives aimed at promoting domestic manufacturing and supporting the automotive industry have had a positive impact on the On-road Motorcycles market. These initiatives include tax incentives for motorcycle manufacturers and the establishment of industrial zones dedicated to the production of motorcycles. Such support encourages local production, stimulates job creation, and contributes to the overall growth of the market. In conclusion, the On-road Motorcycles market in Kazakhstan is experiencing growth driven by customer preferences for affordable and efficient transportation options, the emergence of new trends such as electric motorcycles and larger displacement bikes, local special circumstances including geography and motorcycle culture, and underlying macroeconomic factors such as economic growth and government support for the automotive industry.

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.