On-road Motorcycles - Spain

Spain

Highlights

The On-road Motorcycles market segment in Spain is projected to generate a revenue of US$1.74bn in 2024.
This is expected to grow at an annual rate of 3.04% (CAGR 2024-2029), resulting in a projected market volume of US$2.02bn by 2029.
In the same year, the unit sales of On-road Motorcycles market in Spain are expected to reach 138.60k motorcyles.
The volume weighted average price of On-road Motorcycles market in Spain in 2024 is projected to be US$14.40k.
From an international perspective, it is noteworthy that India is projected to generate the highest revenue in the On-road Motorcycles market segment, amounting to US$21.50bn in 2024.
Spain's on-road motorcycle market is experiencing a surge in demand for electric motorcycles, driven by the country's commitment to sustainability and environmental consciousness.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Spain has been experiencing steady growth in recent years.

Customer preferences: In Spain, there is a strong demand for on-road motorcycles due to their versatility and fuel efficiency. Many consumers prefer motorcycles as a mode of transportation, especially in urban areas where traffic congestion is a common issue. On-road motorcycles are also popular among young adults who are looking for a cost-effective and convenient way to commute.

Trends in the market: One of the key trends in the on-road motorcycles market in Spain is the increasing popularity of electric motorcycles. With the growing concern for the environment and the need for sustainable transportation options, more consumers are opting for electric motorcycles. These vehicles offer zero-emission transportation and are considered more eco-friendly compared to traditional gasoline-powered motorcycles. Additionally, advancements in battery technology have improved the range and performance of electric motorcycles, making them a viable option for daily commuting. Another trend in the market is the rise of smaller displacement motorcycles. Spanish consumers are increasingly interested in smaller and more agile motorcycles that are easier to maneuver in congested urban areas. These motorcycles are also more affordable and have lower maintenance costs, making them an attractive option for budget-conscious consumers.

Local special circumstances: Spain has a rich motorcycle culture, with a long history of motorcycle racing and a strong enthusiast community. This has contributed to the popularity of motorcycles as a mode of transportation and as a recreational vehicle. The country also has favorable weather conditions, with mild winters and long summers, which allows for year-round motorcycle riding.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in Spain can be attributed to several macroeconomic factors. The country has experienced a steady economic recovery in recent years, leading to increased consumer spending power. This has resulted in higher demand for recreational vehicles, including motorcycles. Additionally, Spain has a well-developed road infrastructure and a comprehensive network of motorcycle dealerships and service centers, making it easier for consumers to purchase and maintain motorcycles. In conclusion, the on-road motorcycles market in Spain is growing due to customer preferences for versatile and fuel-efficient transportation options, as well as the increasing popularity of electric motorcycles and smaller displacement bikes. The country's rich motorcycle culture, favorable weather conditions, and improving economic situation are also contributing factors to the market's growth.

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.