On-road Motorcycles - Lebanon

Lebanon

Highlights

The On-road Motorcycles market segment in Lebanon is anticipated to witness a significant increase in revenue, with projections indicating a figure of US$22.95m in 2024.
Furthermore, it is expected that this revenue will continue to grow at an annual rate of -2.98% (CAGR 2024-2029), resulting in a projected market volume of US$19.73m by 2029.
In terms of unit sales, the On-road Motorcycles market segment is estimated to reach 2.15k motorcyles in 2029.
This growth in sales is attributed to the increasing demand for motorcycles in Lebanon.
Additionally, the volume weighted average price of the On-road Motorcycles market segment in 2024 is projected to be US$9.15k.
This indicates the average price at which motorcycles in this segment are expected to be sold.
From a global perspective, it is evident that India is set to generate the highest revenue in the On-road Motorcycles market segment, with a staggering US$21.50bn expected in 2024.
This highlights the significant market potential and demand for motorcycles in the Indian market.
Despite economic challenges, the demand for on-road motorcycles in Lebanon remains strong due to the country's passion for motorcycling culture.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Lebanon has been experiencing significant development in recent years.

Customer preferences: Lebanon is known for its vibrant and bustling cities, and on-road motorcycles have gained popularity among urban dwellers. The compact size and maneuverability of motorcycles make them a convenient mode of transportation for navigating through traffic and finding parking in congested areas. Additionally, on-road motorcycles are often chosen by young professionals and students who are looking for an affordable and efficient means of transportation.

Trends in the market: One of the key trends in the on-road motorcycles market in Lebanon is the increasing demand for electric motorcycles. As environmental concerns continue to grow, more consumers are opting for eco-friendly transportation options. Electric motorcycles offer a clean and sustainable alternative to traditional gasoline-powered bikes. The government of Lebanon has also been promoting the adoption of electric vehicles through various incentives and subsidies, which has further fueled the demand for electric motorcycles. Another trend in the market is the rising popularity of sport motorcycles. Lebanon has a passionate community of motorcycle enthusiasts who enjoy the thrill and adrenaline rush of riding high-performance bikes. Sport motorcycles are designed for speed and agility, making them ideal for riders who seek an exhilarating experience on the road. The demand for sport motorcycles has been driven by the increasing number of motorcycle clubs and events in the country, where riders can showcase their skills and compete with fellow enthusiasts.

Local special circumstances: Lebanon's geographical landscape also plays a significant role in the development of the on-road motorcycles market. The country is known for its scenic coastal roads, mountainous terrains, and winding routes, making it a paradise for motorcycle riders. The diverse landscapes offer a variety of riding experiences, attracting both local riders and tourists who want to explore the beauty of Lebanon on two wheels. The popularity of motorcycle tourism has contributed to the growth of the market, with many riders purchasing motorcycles specifically for leisure and adventure purposes.

Underlying macroeconomic factors: Lebanon's improving economy has also contributed to the development of the on-road motorcycles market. As the country recovers from a period of political and economic instability, consumer confidence is increasing, leading to higher purchasing power. This has allowed more individuals to afford motorcycles and contribute to the growth of the market. Additionally, the government's efforts to improve infrastructure and road connectivity have made motorcycle commuting more convenient and attractive for many Lebanese residents. In conclusion, the on-road motorcycles market in Lebanon is experiencing significant development due to customer preferences for convenient and affordable transportation, as well as the rising demand for electric and sport motorcycles. The country's unique geographical landscape and improving economy further contribute to the growth of the market. As the market continues to evolve, it is expected that the demand for on-road motorcycles in Lebanon will continue to rise.

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.