Motorcycles - Brazil

Brazil

The Motorcycles market in Brazil is set to witness a significant increase in revenue, reaching a projected value of €7.29bn in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 8.10%, resulting in a projected market volume of €10.76bn by 2029.
Among the various segments within the market, the On-road Motorcycles segment is expected to dominate, with a projected market volume of €5.35bn in 2024.
Looking ahead, the unit sales of Motorcycles market are anticipated to reach 2.28m motorcyles by 2029.
In 2024, the volume weighted average price of Motorcycles market in the Brazilian market is projected to be €4.59k.
As for market share, Honda Motorcycles is expected to lead the way with a motorcycle unit sales share of 82.4% in 2024, making it the most dominant player in the selected region.
Furthermore, the value market share of Honda Motorcycles in Brazil is expected to stand at 49.9% in 2024.
While in Brazil is a significant player in the Motorcycles market, it is worth noting that the highest revenue is projected to be generated India, with an estimated value of €29,780.00m in 2024.
In Brazil, the motorcycle market is experiencing a surge in demand, driven by the growing middle class and the need for affordable and efficient transportation options in urban areas.

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

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Analyst Opinion

The Motorcycles market in Brazil has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the motorcycles market in Brazil is the increasing demand for affordable and efficient transportation options. Motorcycles are often seen as a more cost-effective alternative to cars, especially in urban areas where traffic congestion is a major issue. Additionally, motorcycles offer the advantage of being able to navigate through narrow streets and alleyways, making them a popular choice for commuting in crowded cities.

Trends in the market: A notable trend in the motorcycles market in Brazil is the growing popularity of electric motorcycles. As environmental concerns continue to rise, more consumers are seeking greener transportation options. Electric motorcycles offer a cleaner and more sustainable alternative to traditional gasoline-powered bikes. With advancements in battery technology and the increasing availability of charging infrastructure, the demand for electric motorcycles is expected to continue to rise in Brazil. Another trend in the market is the increasing popularity of higher-end motorcycles. As the economy in Brazil has improved in recent years, consumers have more disposable income to spend on luxury items. This has led to a growing demand for premium motorcycles, with features such as advanced technology, enhanced performance, and stylish designs. Motorcycle manufacturers are responding to this trend by introducing new models and expanding their product offerings in the higher-end segment.

Local special circumstances: Brazil has a large population and vast geographical area, which presents unique challenges and opportunities for the motorcycles market. The country's diverse terrain, ranging from urban areas to rural regions, creates a need for motorcycles that can perform well in different conditions. This has led to the development of a wide range of motorcycles, including off-road bikes, scooters, and touring motorcycles, to cater to the diverse needs of Brazilian consumers. Additionally, Brazil has a strong motorcycle culture, with motorcycle clubs and events being popular among enthusiasts. This cultural affinity towards motorcycles further drives the demand for motorcycles in the country.

Underlying macroeconomic factors: The growth of the motorcycles market in Brazil is also influenced by several macroeconomic factors. The country's improving economy and rising middle class have resulted in increased purchasing power among consumers, making motorcycles more affordable and accessible. Additionally, government initiatives to improve infrastructure and reduce traffic congestion have further fueled the demand for motorcycles as a mode of transportation. In conclusion, the motorcycles market in Brazil is experiencing significant growth due to customer preferences for affordable and efficient transportation options, the increasing popularity of electric motorcycles, and the rising demand for higher-end models. Local special circumstances, such as Brazil's diverse terrain and strong motorcycle culture, contribute to the market's development. Furthermore, underlying macroeconomic factors, including the improving economy and government initiatives, play a significant role in driving the growth of the motorcycles market in Brazil.

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.