Motorcycles - Belgium

Belgium

In 2024, the projected revenue in the Motorcycles market in Belgium is expected to reach €291.20m.
This revenue is projected to show an annual growth rate (CAGR 2024-2029) of 0.98%, resulting in a projected market volume of €305.70m by 2029.
The largest segment in the market is On-road Motorcycles, which is projected to have a market volume of €234.30m in 2024.
The unit sales of Motorcycles market in Belgium are expected to reach 27.71k motorcyles by 2029.
The volume weighted average price of Motorcycles market in the market is expected to be €11.12k in 2024.
In terms of market share, Other is projected to have the highest share in the selected region, with a motorcycle unit sales share of 29.2% in 2024.
The value market share of Other is expected to stand at 28.7% in 2024.
From an international perspective, it is shown that the most revenue will be generated India, with €29,470.00m in 2024.
Despite being a relatively small country, Belgium has a strong motorcycle culture, with a growing trend towards electric bikes.

Key regions: Thailand, Italy, Indonesia, Spain, Germany

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Analyst Opinion

The Motorcycles market in Belgium has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, and local special circumstances. Customer preferences in Belgium have been shifting towards more environmentally friendly modes of transportation, leading to an increased demand for motorcycles. Motorcycles are seen as a more sustainable and efficient alternative to traditional cars, especially for urban commuting. Additionally, motorcycles offer a sense of freedom and flexibility that appeals to many consumers. Trends in the market further support the growth of the Motorcycles market in Belgium. One notable trend is the rise of electric motorcycles. As the technology for electric vehicles continues to advance, more consumers are opting for electric motorcycles due to their lower environmental impact and lower operating costs. This trend is in line with the broader global shift towards sustainable transportation solutions. Another trend in the market is the increasing popularity of motorcycles for recreational purposes. Belgium is known for its scenic landscapes and well-maintained road networks, making it an attractive destination for motorcycle enthusiasts. This has led to a growing demand for motorcycles designed specifically for touring and adventure riding. Local special circumstances also contribute to the development of the Motorcycles market in Belgium. The country has a strong motorcycle culture, with numerous motorcycle clubs and events taking place throughout the year. This creates a sense of community and camaraderie among motorcycle enthusiasts, further driving the demand for motorcycles. Additionally, the relatively small size of Belgium makes motorcycles a convenient and practical mode of transportation for both urban and rural areas. Underlying macroeconomic factors also play a role in the growth of the Motorcycles market in Belgium. The country has a stable economy with a high standard of living, which allows consumers to afford motorcycles as a luxury item. Furthermore, favorable government policies and incentives, such as tax breaks and subsidies for electric vehicles, encourage consumers to purchase motorcycles. Overall, the Motorcycles market in Belgium is developing due to customer preferences for sustainable transportation, market trends towards electric and recreational motorcycles, local special circumstances such as a strong motorcycle culture, and favorable macroeconomic factors.

Methodology

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.