Motorcycles - Portugal

Portugal

Revenue in the Motorcycles market in Portugal is projected to reach €433.90m in 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 2.19%, resulting in a projected market volume of €483.60m by 2029.
The largest segment in the market is On-road Motorcycles, with a projected market volume of €340.10m in 2024.
Unit sales of Motorcycles market in Portugal are expected to reach 44.04k motorcyles in 2029.
The volume weighted average price of Motorcycles market in Portugal in 2024 is expected to be €10.72k.
In Portugal, Honda Motorcycles is expected to have the highest market share in the selected region, with a motorcycle unit sales share of 32.3% in 2024.
The value market share of Honda Motorcycles in Portugal is expected to be 30.7% in 2024.
From an international perspective, it is shown that the most revenue will be generated India, with €29,780.00m in 2024.
Portugal's motorcycle market is experiencing a surge in sales due to the increasing popularity of electric motorcycles among environmentally conscious consumers.

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

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Analyst Opinion

The Motorcycles market in Portugal is experiencing significant growth and development. Customer preferences in the Motorcycles market in Portugal are shifting towards more fuel-efficient and environmentally friendly options. Consumers are increasingly concerned about the impact of their vehicles on the environment and are seeking alternatives to traditional gasoline-powered motorcycles. This has led to a rise in demand for electric motorcycles, which offer lower emissions and reduced fuel consumption. Additionally, there is a growing interest in motorcycles with smaller engine sizes, as they are more affordable and easier to maneuver in urban areas. Trends in the market indicate a strong focus on innovation and technology. Motorcycle manufacturers are investing in research and development to introduce advanced features and improve the overall riding experience. This includes the integration of smart technology, such as connectivity options and advanced safety systems. These advancements are aimed at attracting tech-savvy consumers who value convenience and safety. Local special circumstances also play a role in the development of the Motorcycles market in Portugal. The country has a rich motorcycle culture, with a significant number of enthusiasts and riders. Portugal's favorable climate and scenic landscapes make it an ideal destination for motorcycle tourism. This has contributed to the growth of the market, as both domestic and international tourists seek to explore the country on two wheels. Additionally, Portugal's well-developed road infrastructure and favorable traffic regulations make it a motorcycle-friendly country. Underlying macroeconomic factors are also influencing the Motorcycles market in Portugal. The country's strong economic growth and increasing disposable income levels have resulted in a higher purchasing power among consumers. This has translated into a higher demand for motorcycles as a mode of transportation and leisure activity. Furthermore, Portugal's urbanization and population density have led to increased congestion and the need for efficient and agile transportation options, further driving the demand for motorcycles. In conclusion, the Motorcycles market in Portugal is experiencing growth and development driven by customer preferences for fuel-efficient and technologically advanced motorcycles. The country's motorcycle culture, favorable climate, and well-developed road infrastructure contribute to the market's growth. Additionally, Portugal's strong economy and increasing disposable income levels support the demand for motorcycles as a mode of transportation and leisure activity.

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.