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Link to original content: http://es.statista.com/outlook/mmo/motorcycles/worldwide
The Motorcycles Market provides information about motorcycles and their respective makes. It excludes passenger cars, commercial cars, buses, trucks and large vans as well as utility light utility vehicles. We currently provide information on a make level, but in the future, we would expand our market segmentation to include a segmentation by usage or motorcycle capacity.
Background:
The motorcycle industry’s sales are closely connected to economic stability, and dramatic fluctuations, like the financial crisis of the late 2000s, force manufactures to reexamine their strategies and adapt to new market trends. One additional factor that is currently driving changes in the industry is environmental concerns, and this is influencing an increase in the production and use of electric motorcycles.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
The Motorcycles market in Worldwide is experiencing significant growth and development in recent years.
Customer preferences: One of the key factors driving the growth of the Motorcycles market in Worldwide is the increasing demand for affordable and efficient transportation options. Motorcycles offer a cost-effective alternative to cars, especially in densely populated areas where traffic congestion is a major issue. Additionally, motorcycles are often preferred by younger consumers who are looking for a more adventurous and exciting mode of transportation.
Trends in the market: One of the major trends in the Motorcycles market in Worldwide is the increasing popularity of electric motorcycles. With the growing concern for the environment and the need to reduce carbon emissions, many consumers are opting for electric motorcycles as a greener alternative to traditional gasoline-powered bikes. Electric motorcycles offer the advantages of lower maintenance costs, reduced noise pollution, and zero emissions. Another trend in the market is the rise of premium and luxury motorcycles. As the disposable income of consumers increases, there is a growing demand for high-end motorcycles that offer superior performance, advanced technology, and luxurious features. This trend is particularly prevalent in developed countries where consumers are willing to spend more on premium products.
Local special circumstances: In Asia, particularly in countries like India and China, motorcycles are not only a mode of transportation but also a status symbol. Owning a motorcycle is seen as a symbol of freedom and independence. This cultural preference for motorcycles has contributed to the significant growth of the market in these regions. In Europe, motorcycles are often favored for their maneuverability and ability to navigate through narrow streets and congested traffic. The compact size of motorcycles makes them a practical choice for urban dwellers who need to navigate crowded cities.
Underlying macroeconomic factors: The growth of the Motorcycles market in Worldwide can also be attributed to several macroeconomic factors. Rising urbanization and increasing disposable incomes in emerging economies have resulted in a larger middle class population that can afford motorcycles. Additionally, improvements in infrastructure and road networks have made motorcycles a more viable mode of transportation in many regions. Furthermore, the COVID-19 pandemic has also had an impact on the market. With the need for social distancing and avoiding public transportation, many consumers have turned to motorcycles as a safer and more personal mode of transportation. Overall, the Motorcycles market in Worldwide is experiencing growth due to customer preferences for affordable and efficient transportation options, the rise of electric and premium motorcycles, cultural preferences in different regions, and underlying macroeconomic factors such as rising urbanization and increasing disposable incomes.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
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.
Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights
