Motorcycles - Brunei Darussalam

Brunei Darussalam

In 2024, the projected revenue in the Motorcycles market in Brunei Darussalam is expected to reach US$315.60k.
The market is also expected to demonstrate a steady annual growth rate, with a Compound Annual Growth Rate (CAGR) of 1.92% from 2024 to 2028.
This growth will result in a projected market volume of US$340.50k by 2028.
The largest segment in the Motorcycles market in Brunei Darussalam is the On-road Motorcycles segment, which is projected to have a market volume of US$220.80k in 2024.
This segment holds a significant share in the market.
Looking ahead to 2028, it is expected that the unit sales of Motorcycles market in Brunei Darussalam will reach 98.00motorcyles units.
This indicates a positive trend in demand for Motorcycles market in the country.
In terms of pricing, the volume weighted average price of Motorcycles market in the market in 2024 is projected to be US$3.32k.
This figure represents the average price at which Motorcycles market are sold in the market segment.
When considering market share, BMW Motorrad is expected to have the highest share in the selected region in 2024, with a motorcycle unit sales share of 0.0%.
This demonstrates the popularity and demand for BMW Motorrad Motorcycles market in Brunei Darussalam.
Furthermore, BMW Motorrad is expected to hold a value market share of 0.0% in the selected region in 2024.
This indicates the strong presence and consumer preference for BMW Motorcycles market in Brunei Darussalam.
From an international perspective, it is notable that in India is projected to generate the highest revenue in the Motorcycles market, with an estimated value of US$31,140.00m in 2024.
This highlights in India's significant contribution to the global motorcycle market.
Brunei Darussalam's motorcycle market is experiencing a surge in demand for high-performance sports bikes among affluent consumers.

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

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Analyst Opinion

The Motorcycles market in Brunei Darussalam has been experiencing steady growth in recent years.

Customer preferences: Customers in Brunei Darussalam have shown a strong preference for motorcycles as a mode of transportation. This is primarily due to the country's small size and well-maintained road infrastructure, which makes motorcycles a convenient and efficient way to navigate the city. Additionally, motorcycles are more affordable than cars, making them a popular choice among the younger population and those with lower incomes.

Trends in the market: One of the key trends in the motorcycles market in Brunei Darussalam is the increasing demand for electric motorcycles. As the government of Brunei Darussalam has been actively promoting sustainable transportation, there has been a growing interest in electric vehicles, including motorcycles. The government has introduced various incentives and subsidies to encourage the adoption of electric motorcycles, such as tax breaks and reduced registration fees. This has led to an increase in the availability and affordability of electric motorcycles in the market. Another trend in the market is the rise of online platforms for motorcycle sales. With the increasing popularity of e-commerce in Brunei Darussalam, more and more consumers are turning to online platforms to purchase motorcycles. These platforms offer a wide range of options, competitive prices, and convenient delivery services, making it easier for customers to find and purchase their desired motorcycles.

Local special circumstances: Brunei Darussalam has a unique set of circumstances that contribute to the development of the motorcycles market. Firstly, the country has a young population with a high percentage of individuals in the working-age group. This demographic factor has led to an increase in the demand for motorcycles as a means of transportation for commuting to work or school. Additionally, Brunei Darussalam has a high rate of motorization, with a significant proportion of households owning at least one motorcycle. This is partly due to the relatively low cost of motorcycles compared to cars, as well as the ease of maintenance and fuel efficiency.

Underlying macroeconomic factors: The economic stability and prosperity of Brunei Darussalam have played a significant role in the growth of the motorcycles market. The country has a high GDP per capita, which has increased the purchasing power of consumers and their ability to afford motorcycles. Additionally, the government's focus on infrastructure development and urbanization has improved the overall transportation network, making motorcycles a more attractive option for daily commuting. In conclusion, the motorcycles market in Brunei Darussalam is developing due to customer preferences for affordable and convenient transportation options, the rising demand for electric motorcycles, the growth of online platforms for motorcycle sales, the young population and high rate of motorization, and the country's economic stability and infrastructure development. These factors are expected to continue driving the growth of the motorcycles market in Brunei Darussalam in the coming years.

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.