The Latvian motorcycle market for vehicles with spark ignition engines of 50-250 cc has evidenced growth until 2023, reaching a per capita value of $2.52. Year-on-year variations highlight a 1.22% increase between 2022 and 2023, indicating steady growth after mixed performance in the previous five years. Over a five-year span, the compound annual growth rate was approximately 0.83%, reflecting consistent positive growth overall.
Future trends to watch for include the impact of eco-friendly policies possibly influencing engine size preferences and technological advancements such as electric engine adoption. Economic conditions and consumer spending power remain critical factors for this market segment's sustainability and expansion.
| # | 15 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Austria | 17.65 | 2023 | View data | ||
| 2 | 2 Japan | 16.05 | 2023 | View data | ||
| 3 | 3 New Zealand | 13.89 | 2023 | View data | ||
| 4 | 4 Italy | 13.79 | 2023 | View data | ||
| 5 | 5 Switzerland | 12.62 | 2023 | View data | ||
| 11 | 11 Germany | 3.95 | 2023 | View data | ||
| 12 | 12 Canada | 3.76 | 2023 | View data | ||
| 13 | 13 Latvia | 2.52 | 2023 | |||
| 14 | 14 Bahrain | 2.18 | 2023 | View data | ||
| 15 | 15 Barbados | 0.99 | 2023 | View data | ||
