Motorcycles - Angola

Angola

Highlights

The projected revenue in the Motorcycles market for Angola is expected to reach US$89.72m in 2024.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 1.62%, resulting in a projected market volume of US$97.25m by 2029.
Among the market segments, the largest is On-road Motorcycles, projected to reach a market volume of US$50.57m in 2024.
In 2029, Motorcycles market unit sales are expected to reach 39.34k motorcyles.
The volume weighted average price of Motorcycles market in 2024 is projected to be US$2.43k.
In Angola, Honda Motorcycles is expected to have the highest market share in the selected region, with a motorcycle unit sales share of 26.9% in 2024.
The value market share of Honda Motorcycles in the selected region is expected to stand at 21.9% in 2024.
From an international perspective, it is shown that the most revenue will be generated India, amounting to US$32.11bn in 2024.
Angola's motorcycle market is experiencing a surge in demand due to the country's growing urbanization and need for affordable transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Angola is experiencing significant growth and development in recent years.

Customer preferences: Angolan customers have shown a strong preference for motorcycles as a mode of transportation due to their affordability and versatility. Motorcycles are often chosen over cars or public transportation due to their lower cost and ability to navigate through traffic congestion more easily. Additionally, motorcycles are popular among younger consumers who value the freedom and flexibility that comes with owning a motorcycle.

Trends in the market: One of the key trends in the Angolan motorcycles market is the increasing demand for motorcycles with higher engine capacities. As the economy grows and disposable incomes rise, consumers are willing to invest in larger motorcycles that offer more power and performance. This trend is also influenced by the growing popularity of long-distance travel and recreational riding among motorcycle enthusiasts in Angola. Another trend in the market is the shift towards electric motorcycles. As the world becomes more environmentally conscious, there is a growing demand for electric vehicles, including motorcycles. This trend is driven by factors such as government incentives for electric vehicle adoption, increasing availability of charging infrastructure, and the desire to reduce carbon emissions.

Local special circumstances: Angola's road infrastructure is still developing, with many areas lacking proper road networks. This presents a unique opportunity for motorcycles as they can navigate through rough terrains and narrow paths more easily than cars. Additionally, motorcycles are well-suited for the urban areas of Angola where traffic congestion is a common problem.

Underlying macroeconomic factors: The growth of the motorcycles market in Angola can be attributed to several macroeconomic factors. Firstly, Angola has experienced steady economic growth in recent years, which has resulted in an increase in disposable incomes. As more people have the means to purchase motorcycles, the demand for these vehicles has risen. Furthermore, the government of Angola has implemented policies to promote the automotive industry, including the motorcycles sector. These policies include tax incentives and subsidies for motorcycle manufacturers and importers, which have helped to stimulate market growth. In conclusion, the motorcycles market in Angola is witnessing significant growth and development. Customer preferences for affordable and versatile transportation options, along with the unique local circumstances and underlying macroeconomic factors, are driving this growth. The market is also experiencing trends such as the demand for motorcycles with higher engine capacities and the shift towards electric motorcycles. With the continued economic growth and government support, the motorcycles market in Angola is expected to continue its upward trajectory in the coming years.

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.