On-road Motorcycles - Moldova

Moldova

The On-road Motorcycles market segment in Moldova is expected to generate a revenue of US$8.33m in 2024.
This revenue is projected to grow at an annual growth rate of 0.10% (CAGR 2024-2029), resulting in a market volume of US$8.37m by 2029.
In 2029, it is anticipated that there will be 1.24k motorcyles unit sales in the On-road Motorcycles market segment.
The volume weighted average price of On-road Motorcycles market in 2024 is estimated to be US$6.71k.
From an international standpoint, India is expected to generate the highest revenue in the On-road Motorcycles market segment, amounting to US$21,500.00m in 2024.
Moldova's on-road motorcycle market is experiencing a surge in popularity, with an increasing number of young riders embracing the thrill of two-wheeled transportation.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The On-road Motorcycles market in Moldova has been experiencing significant growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.

Customer preferences: Customers in Moldova are increasingly opting for on-road motorcycles as their preferred mode of transportation. This can be attributed to several factors. Firstly, on-road motorcycles are more fuel-efficient compared to other vehicles, making them a cost-effective choice for daily commuting. Additionally, on-road motorcycles offer greater maneuverability in congested urban areas, allowing riders to navigate through traffic more easily. Furthermore, the younger generation in Moldova is increasingly attracted to the stylish and sporty designs of on-road motorcycles, which align with their desire for a modern and dynamic lifestyle.

Trends in the market: One of the key trends in the on-road motorcycles market in Moldova is the growing demand for electric motorcycles. As the global push towards sustainable transportation gains momentum, Moldova is also witnessing a shift towards electric vehicles, including motorcycles. The government has implemented various incentives and subsidies to promote the adoption of electric vehicles, which has further fueled the demand for electric motorcycles. Additionally, advancements in battery technology have led to improved range and performance of electric motorcycles, making them a viable alternative to traditional gasoline-powered motorcycles. Another trend in the market is the increasing popularity of premium and high-performance on-road motorcycles. As disposable incomes rise and consumer preferences evolve, there is a growing demand for motorcycles that offer superior performance, advanced features, and premium aesthetics. Motorcycle manufacturers are responding to this trend by introducing new models with advanced technologies such as ABS, traction control, and ride modes. These premium motorcycles cater to the aspirations of motorcycle enthusiasts who seek a thrilling and exhilarating riding experience.

Local special circumstances: Moldova's geographical location and infrastructure also contribute to the growth of the on-road motorcycles market. The country has a well-developed road network, including highways and rural roads, which makes it conducive for motorcycle riding. Additionally, Moldova experiences mild weather conditions for a significant part of the year, allowing riders to enjoy their motorcycles for a longer duration. These factors make on-road motorcycles an attractive option for transportation and leisure activities in the country.

Underlying macroeconomic factors: Several macroeconomic factors have played a role in the development of the on-road motorcycles market in Moldova. Firstly, the country has witnessed steady economic growth in recent years, leading to an increase in disposable incomes. This has enabled more individuals to afford motorcycles as a means of transportation. Additionally, favorable financing options offered by banks and financial institutions have made it easier for customers to purchase motorcycles. Furthermore, the government's focus on promoting tourism has indirectly contributed to the growth of the on-road motorcycles market. Motorcycle tourism is gaining popularity in Moldova, with tourists exploring the country's scenic landscapes and cultural heritage on motorcycles. This has created a demand for rental motorcycles and accessories, further boosting the market. In conclusion, the on-road motorcycles market in Moldova is experiencing growth due to changing customer preferences, the emergence of new trends such as electric motorcycles and premium models, favorable local circumstances, and supportive macroeconomic factors. As the market continues to evolve, manufacturers and dealers have the opportunity to capitalize on these trends and cater to the evolving needs and preferences of customers in Moldova.

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.