On-road Motorcycles - Ukraine

Ukraine

Highlights

The On-road Motorcycles market segment in Ukraine is expected to generate a revenue of US$6.43m in 2024.
It is projected to experience a strong annual growth rate of 3.71% (CAGR 2024-2029), resulting in a market volume of US$7.71m by 2029.
By that time, unit sales in the On-road Motorcycles market segment are expected to reach 4.12k motorcyles.
The volume weighted average price of On-road Motorcycles market in Ukraine is anticipated to be US$1.73k in 2024.
In terms of international comparison, India is projected to generate the highest revenue in the On-road Motorcycles market segment, amounting to US$21.50bn in 2024.
The Ukrainian on-road motorcycle market is experiencing a surge in demand for electric motorcycles due to increasing environmental consciousness.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Ukraine has been experiencing steady growth in recent years, driven by customer preferences for affordable and efficient transportation options, as well as the local special circumstances and underlying macroeconomic factors in the country. Customer preferences in Ukraine have been shifting towards more cost-effective and practical transportation options, and on-road motorcycles have emerged as a popular choice. With rising fuel prices and increasing traffic congestion in urban areas, motorcycles offer a more affordable and efficient mode of transportation compared to cars. Additionally, motorcycles are easier to maneuver in crowded city streets and can provide a faster commute, further appealing to customers. Trends in the On-road Motorcycles market in Ukraine also reflect global and regional developments. The market has seen a rise in the popularity of electric motorcycles, as customers become more environmentally conscious and seek greener alternatives. Electric motorcycles offer lower emissions and reduced fuel consumption, making them an attractive option for eco-conscious consumers. Another trend in the market is the increasing demand for motorcycles with higher engine capacities. This can be attributed to the growing popularity of long-distance touring and recreational riding among motorcycle enthusiasts. Customers in Ukraine are willing to invest in motorcycles that offer better performance and comfort for extended rides, contributing to the growth of this segment in the market. Local special circumstances in Ukraine have also played a role in the development of the On-road Motorcycles market. The country has a large rural population, and motorcycles are often the preferred mode of transportation in these areas due to their affordability and ability to navigate through uneven terrain. Additionally, the presence of a strong motorcycle culture in Ukraine, with various motorcycle clubs and events, has further contributed to the market's growth. Underlying macroeconomic factors have also influenced the On-road Motorcycles market in Ukraine. The country has experienced economic growth in recent years, leading to an increase in disposable income levels. This has allowed more people to afford motorcycles and contribute to the market's expansion. Furthermore, favorable government policies and incentives, such as reduced taxes and import duties on motorcycles, have encouraged the growth of the market. In conclusion, the On-road Motorcycles market in Ukraine is developing due to customer preferences for affordable and efficient transportation options, the emergence of electric motorcycles, the demand for motorcycles with higher engine capacities, local special circumstances such as the rural population and motorcycle culture, and underlying macroeconomic factors such as economic growth and favorable government policies.

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.