Motorcycle ownership in Australia, measured in units per thousand persons, increased steadily from 2013 to 2017, growing from 32.2 in 2013 to a peak of 34.52 in 2017. The year-on-year variation reflected strong market growth early in the decade, reaching a CAGR of 3.81% in 2013. However, from 2018 onwards, the trend showed a mild decline or stabilization, with minor yearly drops and the CAGR slowing down significantly to -0.11% by 2023. As of 2023, motorcycle ownership stood at 34.27 units per thousand persons.
Forecasted data from 2024 through 2028 indicates a continued slight decline, with the ownership rate inching down to 34.24 by 2028, reflecting a forecasted 5-year CAGR of -0.01%. The average variation per year over the forecasted period suggests a barely noticeable decrease with a projected five-year growth rate of -0.06%.
Future trends to watch for include potential impacts of urbanization, changes in transportation preferences towards electric and shared mobility solutions, and economic factors influencing disposable income and consumer spending on recreational assets such as motorcycles. Additionally, advances in technology and evolving regulatory environments may significantly affect motorcycle ownership rates.
