Motorcycles - Burkina Faso

Burkina Faso

Highlights

The Motorcycles market in Burkina Faso is projected to generate a revenue of US$53.66m in 2024.
This revenue is expected to grow at an annual rate of 0.70% (CAGR 2024-2029), resulting in a projected market volume of US$55.57m by 2029.
Among the market segments, the largest is On-road Motorcycles, which is anticipated to reach a market volume of US$25.08m in 2024.
In terms of unit sales, the Motorcycles market in Burkina Faso is expected to reach 28.31k motorcyles in 2029.
The volume weighted average price of Motorcycles market in 2024 is projected to be US$1.94k.
With a motorcycle unit sales share of 24.5% in 2024, Honda Motorcycles is expected to have the highest market share in Burkina Faso.
The value market share of Honda Motorcycles is projected to stand at 23.9% in 2024.
From an international perspective, it is shown that the highest revenue in the Motorcycles market will be generated India, amounting to US$32.11bn in 2024.
The demand for motorcycles in Burkina Faso is surging due to their affordability and ability to navigate the country's rugged terrain.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Burkina Faso has been experiencing steady growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Burkina Faso have played a significant role in shaping the development of the Motorcycles market. Motorcycles are widely preferred by many individuals and businesses due to their affordability, fuel efficiency, and ability to navigate through the country's often challenging road conditions. Additionally, motorcycles are a popular mode of transportation for rural communities, as they provide a cost-effective means of reaching remote areas where public transportation options are limited. Trends in the market have also contributed to the growth of the Motorcycles market in Burkina Faso. The rise of e-commerce platforms has increased the demand for motorcycles as a means of last-mile delivery. Many businesses and individuals are now using motorcycles to transport goods and services efficiently and quickly, especially in urban areas where traffic congestion can be a significant challenge. Local special circumstances, such as Burkina Faso's large rural population and limited public transportation infrastructure, have also played a role in driving the demand for motorcycles. In rural areas, motorcycles are often the only viable mode of transportation, allowing individuals to access essential services, such as healthcare and education, which may be located far from their homes. Additionally, the lack of reliable public transportation options in many parts of the country has further increased the reliance on motorcycles for daily commuting. Underlying macroeconomic factors have also contributed to the development of the Motorcycles market in Burkina Faso. The country's economic growth, coupled with a rising middle class, has increased disposable income levels, enabling more individuals to afford motorcycles. Moreover, the government's efforts to improve infrastructure, including road construction and maintenance, have made it easier for motorcycles to navigate through the country, further boosting their popularity. In conclusion, the Motorcycles market in Burkina Faso is experiencing steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Motorcycles are preferred for their affordability, fuel efficiency, and ability to navigate challenging road conditions. The rise of e-commerce and the need for last-mile delivery have also contributed to the increased demand for motorcycles. Additionally, Burkina Faso's large rural population and limited public transportation infrastructure have made motorcycles a vital mode of transportation. The country's economic growth and government efforts to improve infrastructure have further fueled the development of the Motorcycles market.

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.