On-road Motorcycles - Turkmenistan

Turkmenistan

The On-road Motorcycles market segment in Turkmenistan is projected to generate a revenue of €14.48m in 2024.
This market is expected to experience an annual growth rate (CAGR 2024-2029) of -0.36%, resulting in a projected market volume of €14.22m by 2029.
In 2029, unit sales in the On-road Motorcycles market segment are expected to reach 2.48k motorcyles.
The volume weighted average price for On-road Motorcycles market in 2024 is projected to be €5.71k.
When considering the international perspective, it is noteworthy that India is expected to generate the highest revenue in the On-road Motorcycles market segment, amounting to €19,730.00m in 2024.
Turkmenistan's on-road motorcycle market is experiencing a surge in demand, driven by a growing interest in leisure and adventure tourism.

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

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Analyst Opinion

The On-road Motorcycles market in Turkmenistan is experiencing steady growth due to customer preferences for affordable and efficient transportation options, as well as the country's special circumstances and underlying macroeconomic factors. Customer preferences in Turkmenistan are driving the growth of the On-road Motorcycles market. With a large portion of the population living in rural areas, motorcycles provide a practical and cost-effective means of transportation. Motorcycles are also favored for their fuel efficiency, which is particularly important in a country where gasoline prices can be high. Additionally, motorcycles are often seen as a status symbol and a way to showcase personal style. Trends in the On-road Motorcycles market in Turkmenistan reflect global and regional developments. One notable trend is the increasing demand for electric motorcycles. As environmental concerns become more prevalent, consumers are seeking alternative modes of transportation that are eco-friendly. This trend is also driven by advancements in battery technology, which have improved the performance and range of electric motorcycles. Another trend is the growing popularity of sport and adventure motorcycles. These motorcycles are designed for off-road use and appeal to thrill-seekers and outdoor enthusiasts. Local special circumstances in Turkmenistan contribute to the development of the On-road Motorcycles market. The country's vast and diverse landscape, which includes deserts and mountains, makes motorcycles a practical choice for navigating challenging terrains. Additionally, the government's efforts to promote tourism have led to an increase in motorcycle rentals and guided tours, further driving the demand for motorcycles. Underlying macroeconomic factors play a significant role in the growth of the On-road Motorcycles market in Turkmenistan. The country's economic stability and increasing disposable income have enabled more people to afford motorcycles. Additionally, government initiatives to improve infrastructure, such as road construction and maintenance, have made motorcycle travel safer and more accessible. These factors, combined with a growing middle class and a desire for personal mobility, have contributed to the expansion of the On-road Motorcycles market in Turkmenistan. Overall, the On-road Motorcycles market in Turkmenistan is developing due to customer preferences for affordable and efficient transportation, global and regional trends, local special circumstances, and underlying macroeconomic factors. As the market continues to grow, manufacturers and retailers can capitalize on these factors to meet the evolving needs of consumers in Turkmenistan.

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.