Motorcycles - Taiwan

Taiwan

Highlights

In 2024, the Motorcycles market in Taiwan is projected to reach a revenue of US$2.71bn.
This represents a significant growth potential for the industry.
Furthermore, it is expected that the market will continue to expand at an annual growth rate (CAGR 2024-2029) of 2.63%, leading to a projected market volume of US$3.08bn by 2029.
Among the various segments within the Motorcycles market, the largest segment is Scooters.
It is projected to have a market volume of US$2.04bn in 2024.
This segment holds great importance in driving the overall market growth.
Looking specifically at unit sales, it is expected that Motorcycles market unit sales will reach 902.00k motorcyles in 2029.
This indicates a positive trend in consumer demand for Motorcycles market in Taiwan.
In terms of pricing, the volume weighted average price of Motorcycles market in 2024 is projected to be US$3.31k.
This average price reflects the pricing dynamics within the market.
When considering market share, Sym is expected to dominate the selected region with a motorcycle unit sales share of 34.8% in 2024.
This signifies the strong presence and popularity of Sym Motorcycles market in Taiwan.
Additionally, the value market share of Sym in the selected region is projected to stand at 38.7% in 2024, further solidifying their position in the market.
From an international perspective, it is interesting to note that India is expected to generate the most revenue in the Motorcycles market, reaching US$32.11bn in 2024.
This indicates the significance of the Indian market in driving global motorcycle sales.
Taiwan's motorcycle market is booming due to the rising demand for electric motorcycles and the government's support for green transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Taiwan has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, and local special circumstances.

Customer preferences: In Taiwan, motorcycles are a popular mode of transportation due to their affordability, fuel efficiency, and convenience. Many Taiwanese consumers prefer motorcycles for their daily commute or short-distance travel, as they offer a cost-effective and efficient way to navigate the country's urban areas. Additionally, motorcycles are often seen as a symbol of freedom and independence, appealing to younger consumers who value mobility and flexibility.

Trends in the market: One significant trend in the Taiwanese motorcycles market is the increasing demand for electric motorcycles. As environmental concerns and government regulations around emissions become more prominent, many consumers are opting for electric motorcycles as a cleaner alternative to traditional gasoline-powered bikes. The government's push for sustainable transportation and the availability of electric charging infrastructure have further fueled the growth of this segment. Another trend is the rising popularity of scooters in Taiwan. Scooters are highly versatile and well-suited for the country's urban environment, where narrow streets and heavy traffic are common. Many Taiwanese consumers prefer scooters for their maneuverability, ease of parking, and lower maintenance costs compared to larger motorcycles. As a result, scooter sales have been on the rise, contributing to the overall growth of the motorcycles market in Taiwan.

Local special circumstances: Taiwan's unique geography and urban landscape contribute to the popularity of motorcycles in the country. With its mountainous terrain and densely populated cities, motorcycles offer a practical solution for navigating through traffic and reaching remote areas that are less accessible by car or public transportation. Additionally, the compact size of motorcycles makes them easier to park in crowded urban areas, where parking spaces are often limited.

Underlying macroeconomic factors: Taiwan's strong economy and stable income levels have also played a role in the growth of the motorcycles market. With a relatively high GDP per capita, many Taiwanese consumers have the purchasing power to afford motorcycles as a means of transportation. Furthermore, the government's efforts to improve infrastructure and promote tourism have led to an increase in domestic and international travel, further driving the demand for motorcycles. In conclusion, the Motorcycles market in Taiwan is experiencing growth due to customer preferences for affordable and fuel-efficient transportation, the increasing popularity of electric motorcycles, the practicality of scooters in Taiwan's urban environment, and the country's unique geography and stable economy. These factors, combined with the government's support for sustainable transportation and infrastructure development, are expected to continue driving the growth of the motorcycles market in Taiwan.

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.