Off-road Motorcycles - Croatia

Croatia

The projected revenue for the Off-road Motorcycles market segment in Croatia is expected to reach US$5.42m in 2024.
This market is anticipated to experience an annual growth rate of 5.13% from 2024 to 2028, resulting in a projected market volume of US$6.62m by 2028.
Furthermore, it is expected that unit sales in the Off-road Motorcycles market segment will reach 0.73k motorcyles by 2028.
In 2024, the volume weighted average price for Off-road Motorcycles market in Croatia is projected to be US$9.10k.
From an international perspective, it is noteworthy that in Brazil is predicted to generate the highest revenue in this segment, with an estimated amount of US$1,359.00m in 2024.
Croatia's off-road motorcycle market is booming, driven by the country's rugged terrain and growing interest in adventure tourism.

Key regions: Spain, Nigeria, Italy, Portugal, United States

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Analyst Opinion

The Off-road Motorcycles market in Croatia has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Off-road motorcycles have gained popularity among customers in Croatia due to their versatility and ability to navigate challenging terrains. The country's diverse landscape, which includes mountainous regions and off-road trails, has created a demand for motorcycles that can handle these conditions. Additionally, the thrill and adrenaline rush associated with off-road riding have attracted a niche group of enthusiasts who seek adventure and excitement.

Trends in the market: One of the key trends in the Off-road Motorcycles market in Croatia is the increasing adoption of electric off-road motorcycles. As the global push towards sustainable transportation gains momentum, customers in Croatia are showing a growing interest in electric vehicles, including off-road motorcycles. These electric motorcycles offer lower emissions, reduced noise levels, and improved energy efficiency compared to their traditional counterparts. The trend towards electric off-road motorcycles aligns with the country's commitment to environmental sustainability. Another trend in the market is the growing popularity of off-road motorcycle tours and events. Croatia's picturesque landscapes and off-road trails have made it an attractive destination for motorcycle enthusiasts from around the world. This has led to the emergence of tour operators and event organizers who cater to this niche market. These tours and events not only provide an opportunity for riders to explore Croatia's natural beauty but also contribute to the local economy through tourism revenue.

Local special circumstances: Croatia's geographical location and natural resources play a significant role in the development of the Off-road Motorcycles market. The country's diverse terrain, including mountains, forests, and coastal areas, offers a wide range of off-road riding opportunities. This unique landscape attracts both local riders and tourists, creating a demand for off-road motorcycles. Furthermore, the Croatian government has been supportive of the off-road motorcycle industry by investing in the development and maintenance of off-road trails. This infrastructure development has made it easier for riders to access and enjoy off-road riding experiences, further fueling the market growth.

Underlying macroeconomic factors: The overall economic stability and growth in Croatia have also contributed to the development of the Off-road Motorcycles market. As the country's economy continues to improve, consumers have more disposable income to spend on recreational activities, including off-road motorcycle riding. This increased purchasing power has driven the demand for off-road motorcycles. Additionally, the tourism industry in Croatia has been growing steadily, attracting visitors from all over the world. Many tourists are looking for unique experiences and adventure activities, such as off-road motorcycle tours. This influx of tourists has created a significant market opportunity for off-road motorcycle manufacturers and tour operators. In conclusion, the Off-road Motorcycles market in Croatia is experiencing growth due to customer preferences for versatile and adventurous vehicles, the adoption of electric motorcycles, the popularity of off-road motorcycle tours and events, the country's unique landscape and government support, as well as the overall economic stability and growth. These factors are driving the market forward and creating opportunities for both local and international players in the industry.

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.