On-road Motorcycles - Thailand

Thailand

Highlights

The On-road Motorcycles market segment in Thailand is projected to achieve a revenue of US$8.27bn by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 2.49%, leading to a projected market volume of US$9.36bn by 2029.
The unit sales of the On-road Motorcycles market segment in Thailand are anticipated to reach 1.37m motorcyles by 2029.
In 2024, the volume weighted average price of On-road Motorcycles market in Thailand is estimated to be US$6.66k.
In terms of international perspective, India is projected to generate the highest revenue in the On-road Motorcycles market segment, amounting to US$21.50bn in 2024.
Thailand's on-road motorcycle market is booming, fueled by the country's vibrant motorbike culture and the popularity of motorcycle taxis.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Thailand has been experiencing significant growth in recent years.

Customer preferences: Thai consumers have shown a strong preference for on-road motorcycles due to their affordability, fuel efficiency, and convenience. With the increasing urbanization and traffic congestion in Thailand, motorcycles have become a popular mode of transportation for many individuals. Additionally, motorcycles are often seen as a symbol of freedom and independence, which further contributes to their popularity among Thai consumers.

Trends in the market: One of the key trends in the on-road motorcycles market in Thailand is the shift towards larger engine capacities. While smaller motorcycles with engine capacities below 150cc have traditionally dominated the market, there has been a growing demand for motorcycles with engine capacities between 150cc and 250cc. This can be attributed to the increasing purchasing power of Thai consumers and their desire for more powerful and feature-rich motorcycles. Another trend in the market is the rising popularity of electric motorcycles. As environmental concerns become more prominent, there is a growing interest in electric vehicles, including motorcycles. The Thai government has also introduced various incentives and subsidies to promote the adoption of electric motorcycles, which has further fueled their demand.

Local special circumstances: Thailand has a well-established automotive industry, which includes the production of motorcycles. The country is home to several major motorcycle manufacturers, both domestic and international, which has contributed to the growth of the on-road motorcycles market. The presence of these manufacturers has also led to a wide range of options for consumers, with motorcycles available at different price points and specifications.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in Thailand can be attributed to several macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income and purchasing power of consumers. This has enabled more individuals to afford motorcycles and contribute to the market's growth. Secondly, Thailand has a young and growing population, with a significant portion of the population entering the workforce. This demographic trend has led to an increased demand for affordable and efficient modes of transportation, such as motorcycles. Lastly, the government's focus on infrastructure development, particularly in the transportation sector, has also played a role in the growth of the on-road motorcycles market. The expansion of road networks and the improvement of public transportation systems have made motorcycles a more viable and convenient option for commuting in Thailand. In conclusion, the on-road motorcycles market in Thailand has been experiencing significant growth due to customer preferences for affordable and convenient transportation options. The shift towards larger engine capacities and the rising popularity of electric motorcycles are notable trends in the market. The presence of a well-established automotive industry and favorable macroeconomic factors, such as economic growth and infrastructure development, have also contributed 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.