Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Southern Europe is experiencing steady growth due to several factors.
Customer preferences: Customers in Southern Europe have shown a strong preference for on-road motorcycles, as they are a popular mode of transportation in urban areas. On-road motorcycles are preferred for their fuel efficiency, cost-effectiveness, and convenience in navigating through traffic congestion. Additionally, the younger generation in Southern Europe is increasingly attracted to the sporty and adventurous image associated with on-road motorcycles.
Trends in the market: One of the key trends in the on-road motorcycles market in Southern Europe is the increasing demand for electric motorcycles. With growing concerns about environmental sustainability and rising fuel prices, customers are opting for electric motorcycles that offer zero-emission transportation and lower operating costs. This trend is driven by government initiatives promoting the adoption of electric vehicles and the availability of charging infrastructure in major cities. Another trend in the market is the rise of online sales channels. Customers in Southern Europe are increasingly turning to online platforms to research and purchase on-road motorcycles. Online sales channels offer a wide range of options, competitive pricing, and convenient delivery services. This trend is also fueled by the COVID-19 pandemic, which has accelerated the shift towards online shopping across various industries.
Local special circumstances: Southern Europe has a rich culture and history of motorcycling, which contributes to the popularity of on-road motorcycles. Countries like Italy and Spain have a strong motorcycle racing tradition, with passionate fan bases and a thriving motorcycling community. This cultural affinity towards motorcycles creates a favorable environment for the growth of the on-road motorcycles market in the region.
Underlying macroeconomic factors: The economic stability and improving purchasing power in Southern Europe are key drivers of the on-road motorcycles market. As the region recovers from the impact of the global financial crisis, consumers have more disposable income to spend on recreational activities and personal transportation. This has led to an increase in demand for on-road motorcycles as a means of leisure and commuting. Furthermore, favorable government regulations and incentives have also contributed to the growth of the market. Governments in Southern Europe have implemented policies to promote the use of motorcycles as a sustainable and efficient mode of transportation. These policies include reduced taxes, parking benefits, and dedicated lanes for motorcycles, making on-road motorcycles an attractive option for customers. In conclusion, the on-road motorcycles market in Southern Europe is witnessing steady growth due to customer preferences for fuel-efficient and cost-effective transportation, the rise of electric motorcycles, the increasing popularity of online sales channels, the region's cultural affinity towards motorcycles, and the improving macroeconomic conditions. These factors are driving the demand for on-road motorcycles and shaping the market trends in the region.
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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