Motorcycles - United Kingdom

United Kingdom

Revenue in the Motorcycles market in the United Kingdom is projected to reach US$1,387.00m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2028) of 2.63%, resulting in a projected market volume of US$1,539.00m by 2028.
The largest segment in the market is On-road Motorcycles, with a projected market volume of US$1,179.00m in 2024.
Unit sales of Motorcycles market in the United Kingdom are expected to reach 122.60k motorcyles in 2028.
The volume weighted average price of Motorcycles market in 2024 is expected to amount to US$12.33k.
BMW Motorrad, with a motorcycle unit sales share of 0.0% in 2024, is expected to have the highest market share in the United Kingdom.
The value market share of BMW Motorrad in the United Kingdom is expected to stand at 0.0% in 2024.
From an international perspective, it is shown that the most revenue will be generated in India, amounting to US$31,140.00m in 2024.
The United Kingdom has seen a rising trend in the popularity of electric motorcycles among urban commuters.

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

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Analyst Opinion

The Motorcycles market in United Kingdom has been experiencing steady growth over the past few years.

Customer preferences: One of the main reasons for the growth in the Motorcycles market in United Kingdom is the changing customer preferences. More and more people are opting for motorcycles as a mode of transportation due to their convenience and cost-effectiveness. Motorcycles offer a faster and more agile means of commuting in the busy city streets, especially during peak hours. Additionally, motorcycles are also popular among adventure enthusiasts and sports lovers who enjoy the thrill and freedom that riding a motorcycle provides.

Trends in the market: The market for motorcycles in United Kingdom has witnessed several trends in recent years. One of the prominent trends is the increasing demand for electric motorcycles. With growing concerns about environmental pollution and the need for sustainable transportation options, electric motorcycles have gained popularity among environmentally conscious consumers. These motorcycles offer a cleaner and greener alternative to traditional gasoline-powered bikes. Another trend in the market is the rising popularity of retro-styled motorcycles. Vintage designs and classic aesthetics have become a major selling point for motorcycle manufacturers, appealing to consumers who appreciate the nostalgia and timeless appeal of these bikes.

Local special circumstances: The Motorcycles market in United Kingdom is influenced by certain local special circumstances. One such circumstance is the country's well-developed road infrastructure and favorable weather conditions. The United Kingdom has a vast network of well-maintained roads, making it an ideal place for motorcycle enthusiasts to ride and explore. Additionally, the temperate climate in the country allows for year-round motorcycle riding, further contributing to the demand for motorcycles. Another special circumstance is the presence of a strong motorcycle culture in the United Kingdom. Motorcycle clubs and events are popular among enthusiasts, fostering a sense of community and camaraderie among riders. This cultural aspect has a positive impact on the market, as it encourages more people to embrace the motorcycle lifestyle.

Underlying macroeconomic factors: Several underlying macroeconomic factors have played a role in the development of the Motorcycles market in United Kingdom. One such factor is the overall economic stability of the country. A stable economy provides consumers with the confidence to make big-ticket purchases like motorcycles. Additionally, the availability of financing options and favorable interest rates have made motorcycles more affordable and accessible to a wider range of consumers. Another factor is the growth in disposable income. As disposable income levels rise, consumers have more discretionary spending power, which they may choose to allocate towards purchasing motorcycles. Furthermore, the increasing urbanization in United Kingdom has led to a higher demand for efficient and compact modes of transportation, making motorcycles an attractive choice for many city dwellers. In conclusion, the Motorcycles market in United Kingdom has experienced growth due to changing customer preferences, including the demand for electric motorcycles and retro-styled bikes. The country's well-developed road infrastructure, favorable weather conditions, and strong motorcycle culture also contribute to the market's development. Underlying macroeconomic factors, such as economic stability and growth in disposable income, further support the growth of the market.

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.