On-road Motorcycles - Saudi Arabia

Saudi Arabia

The projected revenue for the On-road Motorcycles market segment in Saudi Arabia is expected to reach €10.88m by 2024.
This represents a significant growth in the market.
Furthermore, the revenue is projected to have an annual growth rate of 0.51% from 2024 to 2029.
As a result, the market volume is expected to reach €11.16m by 2029.
In terms of unit sales, the On-road Motorcycles market segment is expected to reach 1.82k motorcyles units by 2029.
This indicates a continuous demand for motorcycles in Saudi Arabia.
The volume weighted average price of the On-road Motorcycles market segment in Saudi Arabia in 2024 is projected to be €6.05k.
This indicates the average price at which motorcycles in this segment are sold.
When looking at the international perspective, it is interesting to note that India is expected to generate the most revenue in the On-road Motorcycles market segment.
In 2024, India is projected to generate a revenue of €19,930.00m.
This highlights the significance of the Indian market in the global motorcycle industry.
Sales of high-performance motorcycles in Saudi Arabia have seen a significant increase due to the country's growing interest in luxury and leisure activities.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The On-road Motorcycles market in Saudi Arabia is experiencing significant growth due to various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Saudi Arabia, there is a growing demand for on-road motorcycles due to their affordability, fuel efficiency, and ease of maneuverability in congested urban areas. Additionally, on-road motorcycles are popular among younger consumers who are looking for a cost-effective mode of transportation that allows them to navigate through traffic easily.

Trends in the market: One of the key trends in the on-road motorcycles market in Saudi Arabia is the increasing popularity of electric motorcycles. With the government's focus on reducing carbon emissions and promoting sustainable transportation, there has been a growing demand for electric vehicles, including electric motorcycles. This trend is expected to continue as the government provides incentives and infrastructure for electric vehicle adoption. Another trend in the market is the introduction of advanced features and technologies in on-road motorcycles. Manufacturers are incorporating features such as ABS (Anti-lock Braking System), traction control, and advanced suspension systems to enhance the safety and performance of motorcycles. This trend is driven by the increasing awareness of safety among consumers and their willingness to invest in motorcycles that offer advanced safety features.

Local special circumstances: Saudi Arabia has a large population of young individuals who are increasingly seeking affordable and convenient modes of transportation. On-road motorcycles provide a viable solution for these individuals, especially in urban areas where traffic congestion is a major issue. The government's efforts to improve infrastructure and reduce traffic congestion further contribute to the growth of the on-road motorcycles market in Saudi Arabia.

Underlying macroeconomic factors: The on-road motorcycles market in Saudi Arabia is also influenced by underlying macroeconomic factors. The country has a strong economy and a high disposable income among its population. This enables consumers to afford on-road motorcycles and fuels the demand for these vehicles. Additionally, the government's initiatives to diversify the economy and reduce dependence on oil have led to increased investments in various sectors, including transportation. This has a positive impact on the on-road motorcycles market as it creates employment opportunities and boosts consumer spending. In conclusion, the on-road motorcycles market in Saudi Arabia is witnessing significant growth due to customer preferences for affordable and fuel-efficient transportation, the introduction of advanced features in motorcycles, local special circumstances such as traffic congestion, and underlying macroeconomic factors such as a strong economy and high disposable income. The market is expected to continue growing as the government promotes sustainable transportation and invests in infrastructure 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.