On-road Motorcycles - Ireland

Ireland

The On-road Motorcycles market segment in Ireland is projected to generate a revenue of €15.81m in 2024.
It is expected to experience an annual growth rate of 5.74% (CAGR 2024-2029), resulting in a market volume of €20.90m by 2029.
By then, unit sales in the On-road Motorcycles market segment are projected to reach 1.50k motorcyles.
In 2024, the volume weighted average price of On-road Motorcycles market in Ireland is expected to be €13.80k.
When considering the international market, it is evident that India will generate the highest revenue, with an estimated €19,730.00m in 2024.
In Ireland, the on-road motorcycle market is experiencing a surge in demand due to the country's scenic landscapes and increasing interest in adventure tourism.

Key regions: Nigeria, United States, Spain, Vietnam, Indonesia

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Región

Comparación de regiones

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Analyst Opinion

The On-road Motorcycles market in Ireland has been experiencing steady growth in recent years, driven by customer preferences for efficient and cost-effective transportation options. With an increasing number of people seeking affordable and convenient modes of transportation, the demand for on-road motorcycles has been on the rise.

Customer preferences: In Ireland, customer preferences for on-road motorcycles are influenced by several factors. Firstly, the compact size and maneuverability of motorcycles make them an attractive option for navigating through the country's narrow and congested roads. Motorcycles also offer lower fuel consumption compared to cars, making them a more cost-effective choice for daily commuting. Furthermore, the growing popularity of motorcycle racing and recreational riding has contributed to the increased demand for on-road motorcycles. Many motorcycle enthusiasts in Ireland enjoy the thrill and freedom that riding a motorcycle provides, leading to a higher demand for these vehicles.

Trends in the market: One notable trend in the on-road motorcycles market in Ireland is the increasing adoption of electric motorcycles. As the country strives to reduce greenhouse gas emissions and promote sustainable transportation, there has been a growing interest in electric vehicles, including motorcycles. Electric motorcycles offer a cleaner and quieter alternative to traditional petrol-powered motorcycles, making them an appealing option for environmentally conscious consumers. Another trend in the market is the rising popularity of retro-style motorcycles. These motorcycles feature classic designs inspired by vintage models, appealing to consumers who appreciate a nostalgic aesthetic. The retro-style motorcycles often combine modern technology with a timeless look, attracting riders who seek a unique and stylish mode of transportation.

Local special circumstances: Ireland's unique geography and climate also contribute to the development of the on-road motorcycles market. The country's varied landscape, including scenic coastal routes and winding country roads, makes it an ideal destination for motorcycle enthusiasts. The popularity of motorcycle tourism in Ireland has led to an increased demand for rental motorcycles and related services, further driving the market growth. Moreover, the relatively mild climate in Ireland allows for year-round motorcycle riding, unlike some other countries with harsh winters. This favorable weather condition encourages more people to consider motorcycles as a viable mode of transportation, contributing to the growth of the market.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in Ireland is also influenced by underlying macroeconomic factors. The country's strong economy and low unemployment rate have increased consumers' purchasing power, enabling them to afford motorcycles as an alternative mode of transportation. Additionally, favorable financing options and the availability of affordable motorcycle insurance have made owning a motorcycle more accessible to a wider range of consumers. In conclusion, the on-road motorcycles market in Ireland is developing due to customer preferences for efficient and cost-effective transportation options, as well as the growing popularity of motorcycle racing and recreational riding. The adoption of electric motorcycles and the rising demand for retro-style motorcycles are notable trends in the market. Ireland's unique geography and climate, along with the country's strong economy and favorable financing options, further contribute to the growth 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.