On-road Motorcycles - Kuwait

Kuwait

Highlights

The On-road Motorcycles market segment in Kuwait is projected to generate a revenue of US$12.54m in 2024.
It is expected to experience an annual growth rate of 0.58% (CAGR 2024-2029), resulting in a projected market volume of US$12.91m by 2029.
The unit sales in the On-road Motorcycles market segment are expected to reach 1.60k motorcyles in 2029.
In 2024, the volume weighted average price of the On-road Motorcycles market segment is expected to be US$8.06k.
When looking at the international perspective, it is evident that India will generate the highest revenue in the segment, with an estimated US$21.50bn in 2024.
The popularity of high-performance sports motorcycles is rapidly growing in Kuwait, reflecting the country's affinity for speed and luxury.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Kuwait has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Kuwait have played a crucial role in the development of the On-road Motorcycles market. Kuwaitis have shown a growing interest in recreational activities and outdoor sports, leading to an increased demand for motorcycles. Additionally, the younger population in Kuwait has been increasingly inclined towards motorcycles as a mode of transportation due to their affordability and convenience. In terms of market trends, the On-road Motorcycles market in Kuwait has witnessed a shift towards more technologically advanced and environmentally friendly motorcycles. Consumers are now looking for motorcycles with advanced features such as GPS navigation, Bluetooth connectivity, and improved fuel efficiency. This trend is driven by the global shift towards sustainability and the increasing awareness of environmental issues. Local special circumstances in Kuwait have also contributed to the growth of the On-road Motorcycles market. The country has a favorable climate for outdoor activities, making motorcycles an attractive option for recreational purposes. Additionally, the government of Kuwait has been actively promoting tourism and leisure activities, which has further boosted the demand for motorcycles. Underlying macroeconomic factors have also played a significant role in the development of the On-road Motorcycles market in Kuwait. The country has a strong economy with high disposable income levels, allowing consumers to afford motorcycles as a luxury item. Furthermore, the government's investment in infrastructure development, including the construction of new roads and highways, has improved accessibility and convenience for motorcycle riders. In conclusion, the On-road Motorcycles market in Kuwait is experiencing significant growth due to various factors. Customer preferences for recreational activities and affordable transportation options, market trends towards technologically advanced and environmentally friendly motorcycles, local special circumstances such as favorable climate and government promotion of tourism, and underlying macroeconomic factors such as a strong economy and infrastructure development have all contributed to the development of the 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.