Analyst Opinion
The Motorcycles market in United States has been experiencing steady growth in recent years, driven by various factors such as customer preferences, market trends, local special circ*mstances, and underlying macroeconomic factors. Customer preferences:
Trends in the market:
One of the key trends in the United States motorcycle market is the growing popularity of electric motorcycles. With increasing concerns about environmental sustainability and the rising cost of fuel, more consumers are seeking alternative modes of transportation. Electric motorcycles offer a greener and more cost-effective option, as they produce zero emissions and have lower maintenance costs compared to traditional gasoline-powered motorcycles. Another trend in the market is the rising demand for adventure and touring motorcycles. These motorcycles are designed for long-distance travel and off-road adventures, and they often come equipped with features such as larger fuel tanks, enhanced suspension systems, and luggage storage options. The popularity of adventure and touring motorcycles can be attributed to the growing interest in outdoor activities and the desire for unique travel experiences.Local special circ*mstances:
The United States has a vast and diverse landscape, with a wide range of terrains and climates. This provides motorcycle riders with ample opportunities for exploration and adventure. From the winding roads of the Appalachian Mountains to the scenic coastal highways of California, there are countless routes and destinations that attract motorcycle enthusiasts from all over the country. The availability of motorcycle-friendly infrastructure, such as well-maintained roads and designated parking areas, also contributes to the appeal of motorcycle riding in the United States.Underlying macroeconomic factors:
The overall economic stability and disposable income levels in the United States play a significant role in the growth of the motorcycle market. When the economy is strong and consumers have more disposable income, they are more likely to make discretionary purchases, such as motorcycles. Additionally, low interest rates and financing options make motorcycles more affordable and accessible to a wider range of consumers. In conclusion, the Motorcycles market in United States is experiencing growth due to customer preferences for motorcycles as a lifestyle choice and cost-effective transportation option, as well as trends such as the popularity of electric motorcycles and adventure touring bikes. The local special circ*mstances, including the diverse landscape and motorcycle-friendly infrastructure, further contribute to the market's development. Lastly, the underlying macroeconomic factors, such as economic stability and disposable income levels, play a significant role in driving the growth of the motorcycle market in the United States.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.
