Motorcycles - Saudi Arabia

Saudi Arabia

In 2024, the projected revenue in the Motorcycles market in Saudi Arabia is estimated to reach €18.39m.
Furthermore, it is expected that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of 0.68%, resulting in a projected market volume of €19.02m by 2029.
Among the various segments in the market, the largest one is On-road Motorcycles, which is projected to have a market volume of €10.88m in 2024.
Looking specifically at unit sales, it is anticipated that Motorcycles market unit sales will reach 3.08k motorcyles by 2029.
Moreover, the volume weighted average price of Motorcycles market in 2024 is expected to be €6.13k.
In terms of market share, Other is predicted to have the highest share in the selected region, with a motorcycle unit sales share of 39.2% in 2024.
Similarly, Other is expected to hold a value market share of 44.2% in the selected region in the same year.
From an international perspective, it is worth noting that the highest revenue is projected to be generated India, amounting to €29,780.00m in 2024.
The motorcycle market in Saudi Arabia is experiencing a surge in demand due to the country's growing youth population and their increasing interest in recreational activities.

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

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Analyst Opinion

The Motorcycles market in Saudi Arabia is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in the Saudi Arabian Motorcycles market are shifting towards more fuel-efficient and environmentally friendly options. With rising concerns about climate change and the need for sustainable transportation, consumers are increasingly opting for motorcycles that offer better fuel efficiency and lower emissions. This trend is in line with global preferences, as consumers worldwide are becoming more conscious of their environmental impact and seeking greener alternatives. Trends in the Saudi Arabian Motorcycles market reflect the growing popularity of electric motorcycles. As technology continues to advance, electric motorcycles are becoming more accessible and affordable. The benefits of electric motorcycles, such as lower operating costs and reduced emissions, are appealing to consumers in Saudi Arabia. Additionally, the government has implemented initiatives to promote the adoption of electric vehicles, including motorcycles, further driving the demand for these vehicles in the market. Local special circumstances also contribute to the development of the Motorcycles market in Saudi Arabia. The country has a young population with a high percentage of young adults. This demographic tends to be more open to adopting new technologies and embracing alternative forms of transportation. As a result, the demand for motorcycles, including electric motorcycles, is expected to continue growing in the coming years. Underlying macroeconomic factors also play a role in the growth of the Motorcycles market in Saudi Arabia. The country has a strong economy and a high per capita income, allowing consumers to afford motorcycles as a mode of transportation. Additionally, the government has been investing in infrastructure development, including road networks and transportation systems, which further supports the growth of the motorcycles market. In conclusion, the Motorcycles market in Saudi Arabia is developing due to customer preferences for fuel efficiency and environmental sustainability, the growing popularity of electric motorcycles, local special circumstances such as a young population, and underlying macroeconomic factors including a strong economy and government investments in infrastructure. These factors are driving the growth and development of the market, making it an attractive industry for both consumers and businesses alike.

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.