On-road Motorcycles - Malaysia

Malaysia

Highlights

In Malaysia, the projected revenue of the On-road Motorcycles market segment is set to reach US$3.09bn in 2024.
This market is expected to demonstrate a steady annual growth rate of 2.31% from 2024 to 2029, resulting in a projected market volume of US$3.46bn by 2029.
By that time, the unit sales of On-road Motorcycles market are estimated to reach 462.00k motorcyles.
Furthermore, the volume weighted average price of On-road Motorcycles market in 2024 is anticipated to be US$7.35k.
It is worth noting that, on an international scale, India is forecasted to generate the highest revenue in this segment, amounting to US$21.50bn in 2024.
The motorcycle market in Malaysia is experiencing a surge in demand for electric models due to rising environmental consciousness among consumers.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Malaysia has been experiencing significant growth in recent years.

Customer preferences: Customers in Malaysia have shown a strong preference for on-road motorcycles due to their affordability and practicality. On-road motorcycles are a popular choice for daily commuting, especially in urban areas where traffic congestion is a common issue. Additionally, the relatively low cost of maintenance and fuel consumption make on-road motorcycles an attractive option for budget-conscious consumers.

Trends in the market: One of the key trends in the on-road motorcycles market in Malaysia is the increasing demand for electric motorcycles. As the government and consumers become more environmentally conscious, there has been a shift towards electric vehicles, including motorcycles. The availability of electric motorcycles with improved battery technology and longer range has contributed to this trend. Furthermore, the government has introduced incentives and subsidies to encourage the adoption of electric motorcycles, further driving their popularity in the market. Another trend in the market is the growing popularity of sport bikes and high-performance motorcycles. Malaysian consumers, particularly the younger generation, are increasingly interested in motorcycles that offer a thrilling riding experience and a sense of style. This trend is supported by the expanding middle-class population and increasing disposable income, which allows consumers to afford higher-end motorcycles.

Local special circumstances: One of the unique characteristics of the Malaysian market is the presence of a large motorcycle riding community. Motorcycling is not only seen as a mode of transportation but also as a recreational activity and a way of life for many Malaysians. This strong motorcycle culture has contributed to the growth of the on-road motorcycles market in the country. It has also led to the development of various motorcycle clubs and events, creating a vibrant community that supports the industry.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in Malaysia is also influenced by several macroeconomic factors. The country's strong economic growth, stable political environment, and improving infrastructure have created a conducive environment for the industry. Additionally, the government's efforts to promote tourism and attract foreign investments have resulted in an influx of expatriates and tourists, further boosting the demand for on-road motorcycles. Furthermore, the availability of financing options and the ease of obtaining motorcycle licenses have made it easier for consumers to purchase and ride motorcycles. This has contributed to the increasing number of motorcycle riders in the country. In conclusion, the on-road motorcycles market in Malaysia is experiencing growth due to customer preferences for affordable and practical transportation options, the increasing demand for electric motorcycles, the popularity of sport bikes and high-performance motorcycles, the presence of a strong motorcycle riding community, and favorable macroeconomic factors.

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.