The Motorcycles market in South America has been experiencing significant growth in recent years. Customer preferences in the South American Motorcycles market are influenced by several factors. Firstly, affordability is a key consideration for customers in this region. Many South American countries have lower average incomes compared to other parts of the world, and motorcycles are often seen as a more affordable mode of transportation compared to cars. Additionally, motorcycles are popular among younger consumers who are looking for a cost-effective and convenient way to commute. Trends in the South American Motorcycles market include a shift towards more fuel-efficient and environmentally friendly models. As concerns about climate change and air pollution continue to grow, consumers are becoming more conscious of the environmental impact of their transportation choices. This has led to an increased demand for motorcycles with lower emissions and better fuel efficiency. Another trend in the market is the growing popularity of electric motorcycles. As technology advances and the infrastructure for electric vehicles improves, more consumers are opting for electric motorcycles as a greener alternative to traditional gasoline-powered models. Local special circumstances in South America also play a role in the development of the Motorcycles market. For example, the region's geography and climate make motorcycles a practical choice for transportation. Many South American countries have diverse terrains and challenging road conditions, and motorcycles are often better suited to navigate these environments compared to cars. Additionally, the high population density in urban areas can make motorcycles a more efficient mode of transportation, allowing riders to navigate through congested traffic more easily. Underlying macroeconomic factors have also contributed to the growth of the Motorcycles market in South America. Rapid urbanization and economic development in the region have led to an increase in disposable incomes, allowing more people to afford motorcycles. Additionally, improvements in infrastructure and the availability of financing options have made motorcycles more accessible to a wider range of consumers. Overall, the Motorcycles market in South America is developing in response to customer preferences for affordable and convenient transportation options, as well as growing concerns about the environment. With the continued economic growth and improvements in infrastructure, the market is expected to continue its upward trajectory in the coming years.
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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