Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in United Kingdom has been experiencing steady growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.
Customer preferences: In the United Kingdom, there is a growing preference for on-road motorcycles among consumers. This can be attributed to several factors, including the increasing popularity of leisure activities such as motorcycle touring and commuting. On-road motorcycles offer a convenient and efficient mode of transportation, especially in urban areas where traffic congestion is a common issue. Additionally, the rising interest in adventure tourism has also contributed to the demand for on-road motorcycles, as they provide a thrilling and immersive experience for riders.
Trends in the market: One of the key trends in the on-road motorcycles market in the United Kingdom is the shift towards electric motorcycles. With the increasing focus on sustainability and reducing carbon emissions, electric motorcycles have gained traction among environmentally conscious consumers. The advancements in battery technology have led to improved performance and longer range for electric motorcycles, making them a viable alternative to traditional petrol-powered bikes. This trend is expected to continue as the government and industry stakeholders promote the adoption of electric vehicles. Another trend in the market is the emergence of online platforms and digital channels for purchasing motorcycles. With the convenience and ease of online shopping, more consumers are opting to buy motorcycles through online platforms. This trend has been further accelerated by the COVID-19 pandemic, as people turned to online channels for their shopping needs. Online platforms provide a wide range of options, competitive pricing, and convenient delivery, making it an attractive option for consumers.
Local special circumstances: The United Kingdom has a well-established motorcycle culture, with a strong community of riders and enthusiasts. This has created a supportive environment for the on-road motorcycles market, with various events, clubs, and forums dedicated to motorcycles. The presence of these communities and the availability of dedicated infrastructure, such as motorcycle-friendly roads and parking spaces, contribute to the growth of the market.
Underlying macroeconomic factors: The United Kingdom has a stable economy with a high level of disposable income among its population. This provides consumers with the financial means to purchase on-road motorcycles. Additionally, favorable financing options and low interest rates have made it easier for consumers to afford motorcycles. The government's focus on infrastructure development, including road improvements and the expansion of cycling and motorcycle lanes, has also contributed to the growth of the on-road motorcycles market. In conclusion, the on-road motorcycles market in the United Kingdom is experiencing growth due to changing customer preferences, including the shift towards electric motorcycles and the increasing popularity of online platforms for purchasing motorcycles. The presence of a strong motorcycle culture and favorable macroeconomic factors further support the growth of the market.
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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