Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Nordics has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Nordics have been shifting towards more sustainable and eco-friendly modes of transportation, which has led to an increased demand for electric motorcycles. This trend is driven by a growing awareness of environmental issues and a desire to reduce carbon emissions. Additionally, customers in the Nordics value functionality and practicality, which has led to a rise in the popularity of adventure motorcycles that can handle various terrains and weather conditions. Trends in the market also play a significant role in the development of the On-road Motorcycles market in the Nordics. One such trend is the increasing popularity of motorcycle touring. The Nordics are known for their stunning landscapes and scenic routes, making them an attractive destination for motorcycle enthusiasts. This trend has contributed to the growth of the market as more people are purchasing motorcycles for leisure and travel purposes. Another trend in the market is the rising demand for premium motorcycles. Customers in the Nordics are willing to spend more on high-quality motorcycles that offer advanced features, comfort, and performance. This trend is driven by a growing disposable income and a desire for luxury and exclusivity. Local special circumstances also impact the On-road Motorcycles market in the Nordics. The region's climate, with long winters and challenging road conditions, has led to a demand for motorcycles that are suitable for all seasons. This has resulted in an increased interest in motorcycles with advanced traction control systems, heated grips, and other features that enhance safety and comfort in cold weather. Underlying macroeconomic factors, such as economic growth and stability, also contribute to the development of the market. The Nordics have a strong economy with high levels of disposable income, which allows people to afford motorcycles as a mode of transportation or a recreational vehicle. Additionally, favorable government policies and incentives, such as tax breaks for electric motorcycles, have further stimulated the market. In conclusion, the On-road Motorcycles market in the Nordics is developing due to customer preferences for sustainable and practical transportation, market trends such as motorcycle touring and premium motorcycles, local special circumstances like challenging weather conditions, and underlying macroeconomic factors including economic growth and government incentives. These factors have created a favorable environment for the growth of the market, and it is expected to continue expanding in the coming years.
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.
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