On-road Motorcycles - Mongolia

Mongolia

The On-road Motorcycles market segment in Mongolia is expected to generate a revenue of US$8.75m by 2024.
This market segment is projected to experience an annual growth rate of 0.14% between 2024 and 2029, resulting in a market volume of US$8.81m by 2029.
In that same year, the unit sales of On-road Motorcycles market are expected to reach 1.41k motorcyles.
It is worth noting that the volume weighted average price of On-road Motorcycles market in 2024 is projected to be US$6.09k.
When considering the international market, it is evident that India will generate the highest revenue, amounting to US$21,500.00m in 2024.
Mongolia's on-road motorcycle market is experiencing a surge in popularity due to its vast and rugged landscapes, attracting adventurers seeking thrilling off-road experiences.

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

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Analyst Opinion

The On-road Motorcycles market in Mongolia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the On-road Motorcycles market in Mongolia have shifted towards more fuel-efficient and environmentally friendly options. With increasing concerns about air pollution and rising fuel prices, consumers are opting for motorcycles that offer better fuel efficiency and lower emissions. This trend is in line with global market preferences, as customers worldwide are also seeking more sustainable transportation options. Trends in the On-road Motorcycles market in Mongolia are also influenced by the country's unique geographical and cultural factors. Mongolia is known for its vast and rugged landscapes, making motorcycles a popular choice for transportation. The off-road capabilities of motorcycles allow riders to navigate through challenging terrains, making them ideal for Mongolia's rural areas. Additionally, motorcycles are often used for recreational purposes, such as off-road adventures and exploring the country's natural beauty. Local special circumstances, such as the nomadic lifestyle and limited infrastructure in certain regions of Mongolia, contribute to the growth of the On-road Motorcycles market. Nomadic herders rely on motorcycles for transportation and to move their livestock across vast distances. The flexibility and maneuverability of motorcycles make them indispensable for these communities. Furthermore, the limited road infrastructure in some areas makes motorcycles a more practical and cost-effective option compared to other vehicles. Underlying macroeconomic factors also play a role in the development of the On-road Motorcycles market in Mongolia. Economic growth and increasing disposable income have led to a rise in consumer spending power, enabling more individuals to afford motorcycles. Additionally, government initiatives to promote tourism and improve transportation infrastructure have further fueled the demand for motorcycles. In conclusion, the On-road Motorcycles market in Mongolia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards more fuel-efficient and environmentally friendly options, the country's unique geographical and cultural factors, the nomadic lifestyle, limited infrastructure, economic growth, and government initiatives all contribute to the development of the market. As these factors continue to shape the market, it is expected that the On-road Motorcycles market in Mongolia will continue to grow in the coming years.

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.