Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in China has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Chinese consumers have shown a growing preference for on-road motorcycles due to their affordability, convenience, and versatility. On-road motorcycles are seen as a cost-effective mode of transportation, particularly in congested urban areas where traffic can be a major issue. Additionally, the younger generation in China is increasingly attracted to the sporty and adventurous image associated with on-road motorcycles.
Trends in the market: One of the key trends in the on-road motorcycles market in China is the increasing demand for electric motorcycles. With concerns over air pollution and a push towards sustainable transportation, electric motorcycles have gained popularity among environmentally conscious consumers. The Chinese government has also implemented favorable policies and subsidies to promote the adoption of electric vehicles, including motorcycles. Another trend in the market is the rise of online sales channels. E-commerce platforms have become a popular way for consumers to purchase on-road motorcycles, offering a wide range of options and competitive prices. This trend has contributed to the overall growth of the market, making motorcycles more accessible to a larger consumer base.
Local special circumstances: China's vast population and rapid urbanization have created unique circumstances that have influenced the development of the on-road motorcycles market. The country's large population, combined with the increasing number of people moving to urban areas, has led to a higher demand for affordable and efficient transportation options. On-road motorcycles, with their lower cost and ability to navigate through traffic, have emerged as a popular choice for many Chinese consumers. Additionally, the availability of affordable financing options has made it easier for consumers to purchase on-road motorcycles. This has further fueled the growth of the market, as consumers are able to spread out the cost of their purchase over time.
Underlying macroeconomic factors: China's strong economic growth and rising disposable incomes have played a significant role in the development of the on-road motorcycles market. As more individuals have the financial means to purchase vehicles, the demand for on-road motorcycles has increased. Furthermore, the growth of the middle class in China has created a larger consumer base with the ability to afford on-road motorcycles. Government policies and regulations have also influenced the market. The Chinese government has implemented measures to promote the development of the domestic motorcycle industry, including tax incentives and subsidies. These policies have encouraged domestic manufacturers to invest in research and development, leading to the production of higher quality motorcycles that meet the needs and preferences of Chinese consumers. In conclusion, the on-road motorcycles market in China is experiencing strong growth due to changing customer preferences, emerging trends such as the demand for electric motorcycles and online sales channels, local special circumstances such as the need for affordable transportation options in urban areas, and underlying macroeconomic factors including strong economic growth and government policies.
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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