Motorcycles - Costa Rica

Costa Rica

Revenue in the Motorcycles market is projected to reach €13.14m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.45%, resulting in a projected market volume of €13.44m by 2029.
The market's largest segment is On-road Motorcycles with a projected market volume of €7.71m in 2024.
Motorcycles market unit sales are expected to reach 4.43k motorcyles in 2029.
The volume weighted average price of Motorcycles market in 2024 is expected to amount to €3.01k.
With a motorcycle unit sales share of 60.0% in 2024, Other is expected to have the highest market share in the selected region.
The value market share of the make Other in the selected region is expected to stand at 47.9% in 2024.
From an international perspective it is shown that the most revenue will be generated in India (€29,470.00m in 2024).

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

Marché

Marque

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Motorcycles market in Costa Rica has been steadily growing in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Costa Rica have shifted towards motorcycles due to their affordability, fuel efficiency, and convenience. Motorcycles are a popular choice among young adults and urban dwellers who are looking for a cost-effective mode of transportation. Additionally, motorcycles are often preferred for their maneuverability in heavy traffic and their ability to navigate narrow streets and crowded parking areas. Trends in the market have also contributed to the growth of the motorcycles market in Costa Rica. The rise of ride-sharing services and food delivery platforms has increased the demand for motorcycles as a means of transportation for these services. Many individuals are opting to work as motorcycle drivers for these platforms, leading to an increase in motorcycle sales. Local special circumstances in Costa Rica have further fueled the growth of the motorcycles market. The country has a warm climate and a diverse terrain, making motorcycles a practical choice for commuting and recreational purposes. Additionally, the government has implemented policies to promote the use of motorcycles, such as providing tax incentives for motorcycle purchases and improving infrastructure for motorcycle riders. Underlying macroeconomic factors have also played a role in the development of the motorcycles market in Costa Rica. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income among the population. This has made motorcycles more affordable and accessible to a larger segment of the population. In conclusion, the motorcycles market in Costa Rica is growing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As more individuals seek affordable and convenient modes of transportation, motorcycles have become a popular choice. The rise of ride-sharing services and food delivery platforms has further increased the demand for motorcycles. The warm climate and diverse terrain in Costa Rica, along with government policies and economic growth, have also contributed to the growth of the motorcycles 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.