Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Taiwan has been experiencing significant growth in recent years, driven by customer preferences for efficient and affordable transportation options. Taiwanese consumers have shown a strong preference for on-road motorcycles due to their compact size, fuel efficiency, and ease of maneuverability in congested urban areas. Additionally, the relatively low cost of on-road motorcycles compared to cars has made them an attractive option for budget-conscious consumers.
Customer preferences: In Taiwan, customer preferences for on-road motorcycles are influenced by several factors. Firstly, the compact size of these motorcycles makes them ideal for navigating through crowded city streets and finding parking in limited spaces. This is particularly important in Taiwan, where urban areas can be densely populated and parking can be a challenge. Secondly, on-road motorcycles are known for their fuel efficiency, making them a cost-effective transportation option for consumers. With rising fuel prices and a growing emphasis on sustainability, many Taiwanese consumers are opting for on-road motorcycles as a more economical and environmentally friendly alternative to cars.
Trends in the market: One notable trend in the on-road motorcycles market in Taiwan is the increasing demand for electric motorcycles. As the government and consumers become more conscious of environmental issues, there has been a growing interest in electric vehicles, including motorcycles. Electric motorcycles offer the advantage of zero emissions and lower operating costs, making them an attractive option for environmentally conscious consumers. Another trend in the market is the growing popularity of scooters with higher engine capacities. While smaller scooters with engine capacities below 150cc have traditionally dominated the market, there is now a rising demand for larger scooters with engine capacities between 150cc and 250cc. These scooters offer more power and performance, appealing to consumers who prioritize speed and acceleration.
Local special circumstances: Taiwan's unique geography and urban landscape contribute to the popularity of on-road motorcycles. The island's mountainous terrain and winding roads make motorcycles a practical choice for navigating challenging landscapes. Additionally, the high population density in urban areas creates a need for compact and efficient transportation options, making on-road motorcycles a popular choice among Taiwanese consumers.
Underlying macroeconomic factors: The growth of the on-road motorcycles market in Taiwan is also influenced by macroeconomic factors. The relatively low cost of on-road motorcycles compared to cars makes them an affordable option for many consumers, especially in a country where the cost of living is relatively high. Additionally, the strong manufacturing capabilities in Taiwan contribute to the availability and affordability of on-road motorcycles, further driving market growth. In conclusion, the on-road motorcycles market in Taiwan is experiencing growth due to customer preferences for efficient and affordable transportation options. The compact size, fuel efficiency, and maneuverability of on-road motorcycles make them a popular choice among Taiwanese consumers. Additionally, the increasing demand for electric motorcycles and larger scooters with higher engine capacities reflects evolving consumer preferences in the market. The unique geography and urban landscape of Taiwan, along with underlying macroeconomic factors, further contribute to the growth of the market.
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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