The Motorcycles market in Australia has experienced steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In Australia, there has been a shift in customer preferences towards motorcycles as a means of transportation. The increasing urbanization and traffic congestion in major cities have led people to seek alternative modes of transport, and motorcycles offer a convenient and cost-effective solution. Additionally, motorcycles are popular among younger consumers who value the freedom and flexibility that these vehicles provide. As a result, there has been a growing demand for motorcycles in Australia.
Trends in the market: One of the key trends in the Australian motorcycles market is the rising popularity of electric motorcycles. With the increasing focus on sustainability and environmental consciousness, consumers are gravitating towards electric vehicles, including motorcycles. The government's initiatives to promote electric mobility and the availability of charging infrastructure have further fueled the demand for electric motorcycles in the country. Another trend in the market is the growing popularity of adventure motorcycles. Australian consumers are increasingly embracing off-road and adventure riding, driven by the country's diverse landscapes and outdoor culture. Adventure motorcycles offer the versatility to explore both urban and rural areas, making them highly appealing to adventure enthusiasts.
Local special circumstances: Australia's vast and diverse terrain presents unique challenges and opportunities for the motorcycles market. The country's extensive coastline, mountain ranges, and outback regions provide ample opportunities for motorcycle enthusiasts to explore and experience the thrill of riding. Additionally, the mild climate in most parts of the country allows for year-round riding, further contributing to the demand for motorcycles.
Underlying macroeconomic factors: The Australian economy has been relatively stable in recent years, with steady GDP growth and low unemployment rates. This has positively influenced consumer confidence and spending power, leading to increased demand for motorcycles. Furthermore, favorable interest rates and easy access to financing options have made motorcycles more affordable and accessible to a wider range of consumers. In conclusion, the Motorcycles market in Australia is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards motorcycles as a means of transportation, the rising popularity of electric and adventure motorcycles, Australia's diverse terrain, and the stable macroeconomic environment all contribute to the development of the market.
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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