Motorcycles - Ukraine

Ukraine

Highlights

The revenue in the Motorcycles market in Ukraine is projected to reach US$8.74m in 2024.
It is expected to show an annual growth rate of 3.87% (CAGR 2024-2029), resulting in a projected market volume of US$10.57m by 2029.
Among the market segments, the largest is On-road Motorcycles with a projected market volume of US$6.43m in 2024.
The unit sales of Motorcycles market in Ukraine are expected to reach 6.03k motorcyles by 2029.
The volume weighted average price of Motorcycles market in 2024 is projected to be US$1.62k.
Musstang is expected to have the highest market share in the selected region with a motorcycle unit sales share of 18.3% in 2024.
The value market share of Musstang in Ukraine is expected to be 9.1% in 2024.
From an international perspective, it is shown that the most revenue will be generated India, amounting to US$32.11bn in 2024.
The motorcycle market in Ukraine is experiencing a surge in demand for electric bikes due to increasing environmental consciousness among consumers.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Ukraine has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local special circumstances.

Customer preferences: In Ukraine, motorcycles have become increasingly popular among consumers due to their affordability, fuel efficiency, and ease of maneuverability in congested urban areas. Many individuals, especially young people, are opting for motorcycles as a more cost-effective and convenient mode of transportation compared to cars. Additionally, motorcycles are also favored by motorcycle enthusiasts who enjoy the thrill and freedom of riding.

Trends in the market: One of the key trends in the Ukrainian motorcycle market is the increasing demand for electric motorcycles. As environmental concerns and sustainability become more prominent, consumers are seeking greener alternatives for transportation. Electric motorcycles offer a cleaner and more sustainable option compared to traditional gasoline-powered motorcycles. This trend is expected to continue as the government encourages the adoption of electric vehicles through various incentives and subsidies. Another trend in the market is the growing popularity of higher-end motorcycles. As the economy improves and disposable incomes rise, consumers are willing to invest in premium motorcycles that offer superior performance and features. This trend is particularly evident among motorcycle enthusiasts and those who use motorcycles for recreational purposes.

Local special circumstances: The Ukrainian motorcycle market is also influenced by local special circumstances. The country's large population, coupled with its extensive road network, provides a significant customer base for motorcycle manufacturers and dealers. Furthermore, the relatively low cost of motorcycles compared to cars makes them an attractive option for many Ukrainians, especially in rural areas where car ownership may be less common.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the development of the motorcycle market in Ukraine. The country's economic growth and increasing disposable incomes have enabled more individuals to afford motorcycles. Additionally, the improving infrastructure and road conditions have made motorcycle travel more accessible and convenient. These factors, combined with the changing customer preferences and local special circumstances, have created a favorable environment for the growth of the motorcycle market in Ukraine. Overall, the motorcycle market in Ukraine is experiencing growth due to changing customer preferences, including the demand for electric motorcycles and higher-end models. The local special circumstances, such as the large population and affordability of motorcycles, further contribute to the market's development. Additionally, underlying macroeconomic factors, such as economic growth and improved infrastructure, support the growth of the motorcycle market in Ukraine.

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.