On-road Motorcycles - Pakistan

Pakistan

The projected revenue for the On-road Motorcycles market segment in Pakistan is expected to reach US$1.74bn in 2024.
It is anticipated that the revenue will experience a compound annual growth rate (CAGR 2024-2029) of -0.94%, leading to a projected market volume of US$1.66bn by 2029.
Furthermore, the unit sales in the On-road Motorcycles market segment are expected to reach 0.75m motorcyles in 2029.
The volume weighted average price of On-road Motorcycles market in Pakistan in 2024 is projected to be US$2.11k.
When considering the international perspective, it is evident that India is expected to generate the highest revenue in the On-road Motorcycles market segment, with an estimated amount of US$21,500.00m in 2024.
Pakistan's on-road motorcycle market is experiencing a surge in demand due to the country's growing youth population and increasing urbanization.

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

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Analyst Opinion

The On-road Motorcycles market in Pakistan is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Pakistan, there is a strong demand for on-road motorcycles due to their affordability and convenience. Many people in the country rely on motorcycles as their primary mode of transportation, especially in urban areas with heavy traffic congestion. On-road motorcycles provide a cost-effective solution for commuting, allowing individuals to navigate through crowded streets and reach their destinations quickly. Additionally, the compact size and maneuverability of on-road motorcycles make them ideal for navigating narrow roads and alleys in Pakistan's urban areas.

Trends in the market: One of the key trends in the on-road motorcycles market in Pakistan is the increasing popularity of fuel-efficient and environmentally friendly motorcycles. With rising fuel prices and growing concerns about pollution, consumers are seeking motorcycles that offer better mileage and lower emissions. Manufacturers are responding to this trend by introducing more fuel-efficient models that meet stricter emission standards. This trend is not only driven by consumer demand but also by government regulations and initiatives to promote cleaner and greener transportation options. Another trend in the market is the growing demand for motorcycles with advanced features and technology. Consumers in Pakistan are increasingly looking for motorcycles with features such as digital instrument panels, LED lights, and advanced braking systems. These features not only enhance the overall riding experience but also improve safety and convenience. Manufacturers are incorporating these features into their models to attract customers and gain a competitive edge in the market.

Local special circumstances: Pakistan has a large population, with a significant portion of the population residing in rural areas. In these areas, motorcycles are often the most practical and accessible mode of transportation. The affordability of on-road motorcycles makes them a popular choice for individuals and families in rural areas who rely on motorcycles for daily commuting and transportation of goods. Additionally, the rugged terrain in some parts of Pakistan makes motorcycles the preferred choice for navigating through rough roads and terrains.

Underlying macroeconomic factors: The economic growth in Pakistan has contributed to the development of the on-road motorcycles market. With a growing middle class and increasing disposable income, more people in Pakistan can afford to purchase motorcycles. This has led to an expansion of the customer base and a boost in motorcycle sales. Furthermore, the government's focus on infrastructure development and improvement of road networks has facilitated the growth of the on-road motorcycles market by providing better road connectivity and accessibility. In conclusion, the on-road motorcycles market in Pakistan is experiencing significant growth and development due to customer preferences for affordable and convenient transportation options, market trends towards fuel efficiency and advanced features, local special circumstances such as the rural population and rugged terrain, and underlying macroeconomic factors such as economic growth and infrastructure development. These factors are driving the demand for on-road motorcycles in Pakistan and shaping the future of the market.

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.