On-road Motorcycles - LATAM

LATAM

The On-road Motorcycles market market in LATAM is expected to see significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$10.99bn by 2024.
This is a substantial figure and indicates the potential for lucrative opportunities in the region.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 5.55% from 2024 to 2029.
This growth rate is expected to result in a market volume of US$14.40bn by 2029.
This demonstrates the increasing demand for On-road Motorcycles market in LATAM.
In terms of unit sales, it is predicted that the On-road Motorcycles market market will reach a total of 2.72m motorcyles units by 2029.
This indicates a strong demand for these vehicles in the region.
Additionally, the volume weighted average price of On-road Motorcycles market in 2024 is projected to be US$4.98k.
This figure provides insight into the average price at which these motorcycles are being sold in LATAM.
From an international perspective, it is worth noting that India is expected to generate the highest revenue in the On-road Motorcycles market market, reaching US$21,500.00m in 2024.
This highlights the significant market potential India and the importance of this country in the global motorcycle industry.
In LATAM, the market for on-road motorcycles is experiencing a surge in demand due to the region's favorable climate for year-round riding.

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

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Region comparison

Currency

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.