The market size value per capita for motorcycles with spark ignition engines of 250-500 cc in Singapore increased steadily from 2013 to 2019, peaking at $4.58 before dropping in 2020 to $3.97. A rebound followed, with 2021 seeing $4.72 and continuing growth to $5.35 in 2023. The year-on-year variation for 2022 was 9.32%, and for 2023 it was 3.68%. The compound annual growth rate (CAGR) over the last five years (2019-2023) was 3.10%.
Future trends to watch for include continued technological advancements in motorbike efficiency and emissions, the potential impact of electric motorcycles, and regulatory changes affecting motorcycle usage in urban environments. The market may also see shifts due to economic factors and consumer preference changes towards sustainable mobility solutions.
