Off-road Motorcycles - Portugal

Portugal

The Off-road Motorcycles market segment in Portugal is predicted to see a significant increase in revenue, reaching €62.67m in 2024.
This is expected to be followed by a steady annual growth rate (CAGR 2024-2029) of 2.28%, leading to a projected market volume of €70.16m by 2029.
In the same year, unit sales in the Off-road Motorcycles market segment are expected to reach 7.56k motorcyles in Portugal.
Furthermore, it is estimated that the volume weighted average price of Off-road Motorcycles market in Portugal will amount to €8.90k in 2024.
Looking at the international landscape, Brazil is projected to generate the highest revenue in the Off-road Motorcycles market segment, with an impressive €1,265.00m in 2024.
Portugal's off-road motorcycle market is experiencing a surge in demand due to the country's diverse and challenging terrain.

Key regions: Germany, Italy, United States, Portugal, Spain

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Off-road Motorcycles market in Portugal has been experiencing steady growth in recent years, driven by customer preferences for outdoor recreational activities and the increasing popularity of motorsports.

Customer preferences: In Portugal, there is a growing interest in outdoor recreational activities, with more people seeking adventure and thrill. Off-road motorcycles provide an exciting way to explore the countryside and enjoy off-road trails. The younger generation, in particular, is attracted to the adrenaline rush and the sense of freedom that off-road motorcycles offer. Additionally, motorsports, including off-road racing, have gained a significant following in Portugal, with enthusiasts participating in events and competitions.

Trends in the market: One of the key trends in the Off-road Motorcycles market in Portugal is the demand for lightweight and agile motorcycles. Customers are looking for bikes that are easy to handle and maneuver on uneven terrains. Manufacturers have responded to this trend by introducing models with advanced suspension systems, improved traction control, and lighter frames. Another trend is the increasing demand for electric off-road motorcycles. With the growing emphasis on sustainability and environmental consciousness, electric motorcycles are becoming more popular among customers who want to enjoy off-road adventures without the noise and emissions associated with traditional gasoline-powered bikes.

Local special circumstances: Portugal's diverse landscape, with its mountains, forests, and coastal areas, provides ample opportunities for off-road motorcycle enthusiasts to explore and enjoy their hobby. The country has a well-developed network of off-road trails and parks, catering to both beginners and experienced riders. The local government has also been supportive of the off-road motorcycle industry, promoting tourism and economic development in rural areas by investing in infrastructure and organizing events.

Underlying macroeconomic factors: The overall economic growth in Portugal has contributed to the development of the Off-road Motorcycles market. As disposable incomes have increased, more individuals have the financial means to invest in recreational activities and hobbies. Additionally, the tourism industry in Portugal has been thriving, attracting visitors from around the world who are interested in exploring the country's natural beauty. This influx of tourists has created a demand for rental services and guided off-road tours, further driving the growth of the market. In conclusion, the Off-road Motorcycles market in Portugal is growing due to customer preferences for outdoor recreational activities, the popularity of motorsports, and the availability of diverse off-road trails. The demand for lightweight and agile motorcycles, as well as electric bikes, is shaping the market trends. The local government's support and the overall economic growth in Portugal have also played a significant role in the market's development.

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.