The Motorcycles market in Spain is experiencing steady growth, driven by changing customer preferences, emerging trends in the market, and local special circumstances.
Customer preferences: In recent years, there has been a shift in customer preferences towards motorcycles in Spain. This can be attributed to several factors, including the increasing urbanization and congestion in cities, as well as the rising cost of fuel. Motorcycles offer a more convenient and cost-effective mode of transportation, especially for short distances. Additionally, motorcycles are seen as a stylish and adventurous choice for many consumers, appealing to the younger generation in particular.
Trends in the market: One of the key trends in the motorcycles market in Spain is the growing demand for electric motorcycles. With the increasing focus on sustainability and environmental consciousness, more consumers are opting for electric vehicles, including motorcycles. Electric motorcycles offer a clean and efficient alternative to traditional gasoline-powered bikes, with lower emissions and reduced operating costs. This trend is expected to continue as the technology improves and the charging infrastructure expands. Another trend in the market is the rise of shared mobility services. Similar to the global trend, Spain has witnessed the emergence of motorcycle-sharing platforms, allowing users to rent motorcycles for short periods of time. This trend has gained popularity among urban dwellers who prefer the flexibility and convenience of using a motorcycle without the need for ownership. These shared mobility services are often accessed through mobile applications, making it easier for consumers to find and book a motorcycle when needed.
Local special circumstances: Spain's warm climate and scenic landscapes make it an ideal country for motorcycle enthusiasts. The country offers a diverse range of terrains, from winding mountain roads to picturesque coastal routes, attracting both local riders and tourists. The popularity of motorcycle tourism has contributed to the growth of the market, with many riders exploring different regions of Spain on their motorcycles.
Underlying macroeconomic factors: The overall economic stability and increasing disposable income in Spain have also played a role in the growth of the motorcycles market. As the economy improves, consumers have more purchasing power and are more likely to invest in recreational vehicles such as motorcycles. Additionally, the availability of financing options and favorable interest rates have made it easier for consumers to afford motorcycles. In conclusion, the motorcycles market in Spain is experiencing growth due to changing customer preferences, emerging trends such as electric motorcycles and shared mobility services, as well as local special circumstances such as the popularity of motorcycle tourism. The underlying macroeconomic factors, including economic stability and increasing disposable income, have also contributed to the market's development.
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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