Motorcycles - Ireland

Ireland

Revenue in the Motorcycles market is estimated to reach €19.84m in 2024.
It is expected to experience an annual growth rate of 5.85% (CAGR 2024-2029), resulting in a projected market volume of €26.36m by 2029.
The largest segment in the market is On-road Motorcycles, which is projected to have a market volume of €15.81m in 2024.
The unit sales of Motorcycles market are expected to reach 2.32k motorcyles in 2029.
The volume weighted average price of Motorcycles market in 2024 is anticipated to be €11.37k.
In Ireland, the Motorcycles market is expected to witness significant growth.
Other is projected to have the highest market share in the country, with a motorcycle unit sales share of 33.2% in 2024.
The value market share of Other in Ireland is anticipated to be 29.1% in the same year.
From an international perspective, India is projected to generate the highest revenue in the Motorcycles market, with €29,470.00m in 2024.
This highlights the strong demand for Motorcycles market in the Indian market.
Despite the small size of Ireland, the demand for motorcycles is steadily increasing, driven by the country's picturesque landscapes and growing interest in adventure tourism.

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

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Analyst Opinion

The Motorcycles market in Ireland has seen significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Ireland, there has been a shift in customer preferences towards motorcycles as a mode of transportation. Motorcycles offer a cost-effective and efficient way to navigate through the country's urban areas, especially during peak traffic hours. Furthermore, motorcycles are often perceived as a stylish and adventurous mode of transportation, attracting younger consumers who seek a sense of freedom and individuality. The growing popularity of motorcycles among this demographic has contributed to the overall growth of the market.

Trends in the market: One notable trend in the Irish motorcycle market is the increasing demand for electric motorcycles. As sustainability becomes a key concern for consumers worldwide, the demand for eco-friendly transportation options has risen significantly. Electric motorcycles offer a greener alternative to traditional gasoline-powered bikes, with lower emissions and reduced fuel consumption. This trend aligns with the global shift towards electric vehicles and reflects the growing environmental consciousness among Irish consumers. Another trend in the market is the rising popularity of motorcycles for recreational purposes. Ireland's scenic landscapes and winding roads make it an ideal destination for motorcycle enthusiasts. Many locals and tourists alike are opting for motorcycle rentals or purchases to explore the country's natural beauty. This trend has led to an increase in the sales of motorcycles designed for long-distance touring and adventure riding.

Local special circumstances: Ireland's unique geography and climate also contribute to the growth of the motorcycle market. The country's narrow and winding roads, particularly in rural areas, make motorcycles a practical choice for commuting and navigating through tight spaces. Additionally, Ireland's mild climate allows for year-round motorcycle riding, unlike other countries with harsher weather conditions. These local special circumstances create a favorable environment for the motorcycle market to thrive.

Underlying macroeconomic factors: The overall growth of the Irish economy has had a positive impact on the motorcycle market. As disposable incomes rise and consumer confidence improves, individuals have more purchasing power to invest in motorcycles. Additionally, low interest rates and favorable financing options provided by financial institutions have made motorcycles more accessible to a wider range of consumers. These macroeconomic factors have contributed to the increased demand and sales of motorcycles in Ireland. In conclusion, the Motorcycles market in Ireland has experienced significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards motorcycles as a mode of transportation, the demand for electric motorcycles, the popularity of motorcycles for recreational purposes, Ireland's unique geography and climate, and the overall economic growth have all played a role in the development of the market.

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.