Motorcycles - Cameroon

Cameroon

Highlights

Revenue in Cameroon's Motorcycles market is projected to reach US$84.03m in 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 0.41%, resulting in a projected market volume of US$85.75m by 2029.
The largest segment in the market is On-road Motorcycles, with a projected market volume of US$45.15m in 2024.
Motorcycles market unit sales are expected to reach 36.63k motorcyles in 2029.
The volume weighted average price of Motorcycles market in 2024 is expected to be US$2.29k.
With a motorcycle unit sales share of 25.4% in 2024, Honda Motorcycles is expected to have the highest market share in Cameroon.
The value market share of Honda Motorcycles in Cameroon is expected to stand at 21.7% in 2024.
From an international perspective, it is shown that the most revenue will be generated India (US$32.11bn in 2024).
Cameroon's motorcycle market has seen a surge in demand due to the country's challenging road conditions and widespread use for transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Cameroon has been experiencing significant growth in recent years, driven by customer preferences for affordable and efficient transportation options. With the increasing urbanization and population growth in the country, the demand for motorcycles as a mode of transportation has been on the rise.

Customer preferences: Customers in Cameroon have shown a strong preference for motorcycles due to their affordability and convenience. Motorcycles are a cost-effective alternative to cars and public transportation, making them an attractive option for many individuals, especially in urban areas. Additionally, motorcycles are able to navigate through traffic congestion more easily than larger vehicles, allowing for faster and more efficient transportation.

Trends in the market: One of the key trends in the motorcycles market in Cameroon is the growing popularity of motorcycles as a means of income generation. Many individuals are using motorcycles for ride-hailing services, delivery services, and other entrepreneurial ventures. This trend is fueled by the increasing availability of affordable motorcycles and the demand for convenient and reliable transportation services. Another trend in the market is the shift towards electric motorcycles. As the global push for sustainable transportation continues to gain momentum, Cameroon is also seeing an increase in the adoption of electric motorcycles. These vehicles offer lower operating costs, reduced environmental impact, and are often eligible for government incentives, making them an attractive option for both consumers and businesses.

Local special circumstances: Cameroon's road infrastructure is not well-developed in many areas, particularly in rural regions. This has contributed to the popularity of motorcycles as they are better suited for navigating through rough terrain and narrow roads. Additionally, motorcycles are often more accessible and affordable than cars, making them a preferred mode of transportation in areas with limited public transportation options.

Underlying macroeconomic factors: The economic growth in Cameroon has had a positive impact on the motorcycles market. As the country's economy continues to expand, more individuals have disposable income to spend on transportation options. This, coupled with the increasing urbanization and population growth, has created a favorable environment for the motorcycles market to thrive. In conclusion, the motorcycles market in Cameroon is experiencing growth due to customer preferences for affordable and efficient transportation options. The increasing urbanization, population growth, and the need for income generation have contributed to the rising demand for motorcycles. Additionally, the shift towards electric motorcycles and the country's road infrastructure have also played a role in shaping the market. With the continued economic growth and development in Cameroon, the motorcycles market 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.