Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in South America has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in South America have played a crucial role in driving the growth of the On-road Motorcycles market. South American consumers have shown a strong preference for motorcycles as a means of transportation due to their affordability and fuel efficiency. Additionally, motorcycles are often favored for their maneuverability in congested urban areas. These customer preferences have created a high demand for On-road Motorcycles in the region. Trends in the market have also contributed to the growth of the On-road Motorcycles market in South America. One notable trend is the increasing popularity of electric motorcycles. As concerns about environmental sustainability and rising fuel prices continue to grow, more consumers in South America are opting for electric motorcycles as a greener and more cost-effective alternative. This trend has led to the introduction of a wider range of electric motorcycle models in the market, catering to the evolving preferences of South American consumers. Local special circumstances have also played a role in the development of the On-road Motorcycles market in South America. The region's diverse terrain, ranging from urban areas to rural landscapes, has created a need for motorcycles that can navigate different types of roads and conditions. As a result, manufacturers have been focusing on producing motorcycles with enhanced suspension systems and off-road capabilities to meet the demands of South American consumers. Underlying macroeconomic factors have further fueled the growth of the On-road Motorcycles market in South America. Economic growth in the region has resulted in an expanding middle class with increased purchasing power. As a result, more individuals are able to afford motorcycles as a mode of transportation or for recreational purposes. Additionally, favorable government policies and incentives have encouraged the growth of the motorcycle industry, leading to increased production and sales. In conclusion, the On-road Motorcycles market in South America is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumer preferences continue to evolve and the region's economy expands, the market is expected to further thrive 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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