Motorcycles - Uzbekistan

Uzbekistan

Highlights

The Motorcycles market in Uzbekistan is projected to generate a revenue of US$57.36m in 2024.
This market is expected to experience a steady annual growth rate (CAGR 2024-2029) of 2.49%, resulting in a projected market volume of US$64.87m by 2029.
The largest segment in this market is On-road Motorcycles, which is projected to reach a market volume of US$34.31m in 2024.
In terms of unit sales, the Motorcycles market is expected to reach 12.60k motorcyles units in 2029.
The volume weighted average price of Motorcycles market in the market is projected to be US$4.98k in 2024.
In Uzbekistan, Honda Motorcycles is expected to have the highest market share in the selected region, with a motorcycle unit sales share of 33.4% in 2024.
Furthermore, the value market share of Honda Motorcycles in the selected region is expected to stand at 29.9% in 2024.
From an international perspective, it is evident that India will generate the most revenue in the Motorcycles market, with a projected revenue of US$32.11bn in 2024.
Uzbekistan's motorcycle market is experiencing a surge in demand for locally manufactured bikes due to increased government support and favorable economic conditions.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Uzbekistan is experiencing significant growth, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Uzbekistan, motorcycles are becoming increasingly popular among consumers as a mode of transportation. This is mainly due to their affordability, fuel efficiency, and ease of maneuverability in congested urban areas. Additionally, motorcycles are seen as a symbol of freedom and adventure, appealing to the younger generation who value independence and individuality. As a result, there is a growing demand for motorcycles in Uzbekistan, especially among the urban population.

Trends in the market: One of the key trends in the motorcycles market in Uzbekistan is the shift towards electric motorcycles. With the increasing concern for environmental sustainability, consumers are showing a preference for electric vehicles, including motorcycles. Electric motorcycles offer lower emissions, reduced noise pollution, and lower operating costs compared to traditional gasoline-powered motorcycles. This trend is in line with the global shift towards electric vehicles and is expected to continue driving the growth of the motorcycles market in Uzbekistan. Another trend in the market is the increasing popularity of sports motorcycles. Uzbekistan has a young population that is increasingly interested in sports and recreational activities. As a result, there is a growing demand for motorcycles that offer higher performance and speed. Sports motorcycles not only cater to the thrill-seeking desires of consumers but also provide a sense of status and prestige. This trend is expected to continue as the economy grows and disposable incomes increase.

Local special circumstances: Uzbekistan has a unique geography and landscape that makes motorcycles a practical choice for transportation. The country has a diverse terrain, including mountainous regions and vast plains, which can be challenging to navigate using traditional vehicles. Motorcycles provide a flexible and efficient mode of transportation in these areas, allowing consumers to easily travel across different terrains. Additionally, motorcycles are well-suited for the congested urban areas of Uzbekistan, where narrow streets and heavy traffic can make driving larger vehicles difficult.

Underlying macroeconomic factors: The growing motorcycles market in Uzbekistan is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth in recent years, resulting in an expanding middle class with increased purchasing power. As a result, consumers have more disposable income to spend on recreational activities and personal transportation, including motorcycles. Furthermore, the government of Uzbekistan has implemented policies to promote domestic manufacturing and investment in the automotive industry, including motorcycles. These policies have attracted both domestic and foreign manufacturers, leading to increased competition and product availability in the market. In conclusion, the motorcycles market in Uzbekistan is witnessing significant growth due to customer preferences for affordable and efficient transportation, the trend towards electric motorcycles, the popularity of sports motorcycles, the unique local circumstances that make motorcycles practical, and the underlying macroeconomic factors such as economic growth and government policies. As these factors continue to drive the market, the motorcycles industry in Uzbekistan is expected to further expand in the coming years.

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.