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Motorcycle Industry in UK Staring at an Uncertain Future, According to a New Report
Market Research Hub
, January 12, 2018 ) A new research study based on auto service titled “
MOTORCYCLES - UK - DECEMBER 2017
” has been added into the repository of Market Research Hub (MRH) that studies the overall UK market of auto service examining issues, identifying opportunities. According to the report, the motorcycle sales in the UK are witnessing a decline, and although the sales have grown slightly in 2017, overall, the market is heading towards an uncertain future.
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The report offer statistics and figures on a number of parameters including new registrations of scooters and motorcycles. The segmentation is done on the basis of value, volume, style, and type. The segmentation and analysis offered in this regard can help stakeholders in understanding the key factors that are shaping the future direction of this market.
Manufacturers in the UK motorcycle sphere are looking at opportunities including expansion and global opportunities. Honda and Yamaha, two of the most prominent players in the market continue to remain attractive in terms of market share. To cater to an evolving landscape, manufacturers are focusing on communicating their key message in the form of advertisements. ATL, online media, and direct mail advertising remain some of the most common forms of advertising for motorcycle manufacturers in the UK.
In addition to qualitative analysis and commentary, the report also offers detailed insights on the overt and covert motivations that influence consumer behavior in the UK. According to the report, the UK isn’t particularly an important market for motorcycles or scooters, as only 6% of the population currently owns one.
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There is a lack of interest towards motorcycles and the high price vis-à-vis cars continues to induce reluctance among consumers. Millennials and the youth remain an important category for motorcycle manufacturers, and manufacturers continue to focus on targeting this demographic to consolidate their position. Sales of motorcycles are weakest among women in the UK.
The macroeconomic factors are also boosting the sales of motorcycles in the UK. The Euro 4 emission guidelines have provided a stimulus to the market, however, the underlying factors such as high cost and the risk associated with riding a motorcycle have meant that overall interest in buying a motorcycle continues to remain low. To cut down the risk element, manufacturers are also focusing on 125 cc segment, however, these types of motorcycles are not gaining the required traction among consumers. The report also opines that electric motorcycles have failed to make an impact in the UK.
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MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.
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