The On-road Motorcycles market in Southeast Asia is experiencing steady growth due to customer preferences for affordable and efficient transportation options, as well as the region's unique local circumstances and underlying macroeconomic factors.
Customer preferences: Customers in Southeast Asia have a strong preference for motorcycles as a means of transportation due to their affordability and efficiency. Motorcycles are often more cost-effective than cars and provide a convenient mode of transport for navigating the region's congested roads. Additionally, motorcycles are well-suited for the region's warm climate and can easily maneuver through narrow streets and crowded urban areas. These customer preferences have contributed to the increasing demand for on-road motorcycles in Southeast Asia.
Trends in the market: One notable trend in the Southeast Asian on-road motorcycles market is the rising popularity of electric motorcycles. As the region becomes more environmentally conscious and seeks to reduce carbon emissions, there is a growing demand for electric vehicles, including motorcycles. Electric motorcycles offer a cleaner and more sustainable alternative to traditional gasoline-powered bikes, and manufacturers are responding to this trend by introducing a wider range of electric motorcycle models in the market. Another trend in the market is the increasing adoption of advanced safety features in on-road motorcycles. With road safety being a concern in Southeast Asia, manufacturers are incorporating features such as anti-lock braking systems (ABS), traction control, and electronic stability control to enhance rider safety. These safety features are becoming more affordable and accessible, making them attractive to customers in the region.
Local special circumstances: The unique local circumstances in Southeast Asia, such as the region's rapid urbanization and growing middle class, have contributed to the growth of the on-road motorcycles market. As cities become more crowded and traffic congestion worsens, motorcycles offer a practical solution for commuting and navigating through congested areas. Additionally, the rising disposable income of the middle class in Southeast Asia has increased the affordability and accessibility of motorcycles, further driving market growth.
Underlying macroeconomic factors: The underlying macroeconomic factors in Southeast Asia, such as population growth, GDP growth, and urbanization, are also driving the development of the on-road motorcycles market. The region's population is growing, leading to an increased demand for transportation options. Moreover, the steady economic growth in Southeast Asia has resulted in higher disposable incomes, enabling more individuals to afford motorcycles. Lastly, the rapid urbanization in the region has created a need for efficient and affordable transportation, making motorcycles an attractive choice for many. Overall, the on-road motorcycles market in Southeast Asia is experiencing growth due to customer preferences for affordable and efficient transportation options, the rising popularity of electric motorcycles, the adoption of advanced safety features, the unique local circumstances in the region, and the underlying macroeconomic factors such as population growth, GDP growth, and urbanization.
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.
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