Motorcycles - Southern Europe

Southern Europe

Highlights

The Motorcycles market in Southern Europe is projected to generate revenue of US$7.73bn in 2024.
This represents a substantial growth rate, with an annual growth rate (CAGR 2024-2029) of 3.30%.
As a result, the market is expected to reach a volume of US$9.09bn by 2029.
Within the Motorcycles market, the largest segment is On-road Motorcycles, which is projected to have a market volume of US$5.58bn in 2024.
This segment demonstrates the significant demand for Motorcycles market designed for on-road use in Southern Europe.
Looking specifically at unit sales, it is expected that there will be 1.02m motorcyles Motorcycles market sold in 2029.
This showcases the popularity and continued growth of the market in the region.
In terms of pricing, the volume weighted average price of Motorcycles market in the Southern European market is projected to be US$8.91k in 2024.
This indicates the value that consumers place on Motorcycles market in this region.
When considering market share, Honda Motorcycles is anticipated to have the highest market share in the selected region, with a motorcycle unit sales share of 16.2% in 2024.
This demonstrates the strong presence and popularity of Honda Motorcycles among consumers in Southern Europe.
Furthermore, the value market share of Honda Motorcycles in the selected region is expected to stand at 17.3% in 2024.
This highlights the brand's success in capturing a significant portion of the market's value.
From an international perspective, India is projected to generate the highest revenue in the Motorcycles market, with an estimated revenue of US$32.11bn in 2024.
This showcases the importance of the Indian market and its contribution to the global motorcycle industry.
With a rich history of motorcycle culture, Southern European countries like Italy and Spain continue to see a strong demand for stylish and high-performance motorcycles.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Southern Europe has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards motorcycles as a mode of transportation. This can be attributed to several factors. Firstly, motorcycles offer a more cost-effective alternative to cars, especially in urban areas where parking spaces are limited and traffic congestion is a common issue. Additionally, motorcycles are more fuel-efficient, making them a more environmentally friendly option. Furthermore, motorcycles provide a sense of freedom and agility that appeals to many consumers, especially the younger generation. One of the key trends in the market is the increasing demand for electric motorcycles. This trend can be observed not only in Southern Europe but also worldwide. The growing concern for the environment and the push for sustainable transportation options have contributed to the rise in popularity of electric motorcycles. These vehicles offer zero emissions and lower operating costs compared to traditional gasoline-powered motorcycles. As a result, manufacturers have been investing in research and development to improve the performance and range of electric motorcycles, making them a viable option for consumers. Another trend in the market is the rise of online sales channels. With the increasing popularity of e-commerce, consumers are now able to purchase motorcycles online, bypassing traditional dealerships. This trend has been facilitated by the ease of comparing prices and models online, as well as the convenience of doorstep delivery. Online sales have also allowed manufacturers to reach a wider customer base, including those in remote areas where physical dealerships may be limited. Local special circumstances in Southern Europe have also contributed to the growth of the motorcycles market. The region's warm climate and scenic landscapes make it an ideal destination for motorcycle enthusiasts. This has led to an increase in tourism focused on motorcycle riding, creating a demand for rental services and guided tours. Additionally, the region's narrow and winding roads are better suited for motorcycles, making them a popular choice among locals for daily commuting and leisure activities. Underlying macroeconomic factors have also played a role in the development of the motorcycles market in Southern Europe. The region's economic recovery following the global financial crisis has led to increased consumer confidence and spending power. This has translated into higher demand for discretionary items such as motorcycles. Furthermore, low interest rates and favorable financing options have made it easier for consumers to purchase motorcycles, further driving market growth. In conclusion, the motorcycles market in Southern Europe has been experiencing significant growth due to shifting customer preferences, including the demand for electric motorcycles and the rise of online sales channels. Local special circumstances, such as the region's climate and road infrastructure, have also contributed to market development. Additionally, underlying macroeconomic factors, including economic recovery and favorable financing options, have further fueled market 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.