The Motorcycles market in Egypt has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: In Egypt, there is a growing demand for motorcycles as a mode of transportation. This is primarily due to their affordability and fuel efficiency compared to other vehicles. Motorcycles are particularly popular among young people and those living in urban areas, where traffic congestion is a major issue. Additionally, motorcycles are often preferred for their versatility and ability to navigate through narrow streets and crowded areas.
Trends in the market: One of the key trends in the Egyptian motorcycles market is the increasing popularity of electric motorcycles. As the country strives to reduce its carbon footprint and promote sustainable transportation, electric motorcycles have gained traction among environmentally-conscious consumers. The government has also introduced incentives and subsidies to encourage the adoption of electric vehicles, including motorcycles. Another trend is the rise of online platforms for motorcycle sales. E-commerce platforms have made it easier for consumers to browse and purchase motorcycles from the comfort of their homes. This trend has not only increased convenience for buyers but has also opened up new market opportunities for sellers, especially small and medium-sized businesses.
Local special circumstances: Egypt's growing population and urbanization have contributed to the demand for motorcycles. With limited public transportation options and increasing traffic congestion, motorcycles have become a practical and cost-effective solution for many Egyptians. Additionally, the country's warm climate and long summer seasons make motorcycles an attractive choice for commuting and leisure activities.
Underlying macroeconomic factors: The Egyptian economy has been growing steadily in recent years, with improvements in various sectors such as tourism, construction, and manufacturing. This has led to an increase in disposable income and consumer spending power, which has positively impacted the motorcycles market. Additionally, the government's efforts to attract foreign investment and promote economic development have created a favorable business environment, further supporting the growth of the motorcycles market. In conclusion, the motorcycles market in Egypt is experiencing growth due to changing customer preferences, emerging trends such as the popularity of electric motorcycles and the rise of online sales platforms, as well as local special circumstances including population growth, urbanization, and favorable climate conditions. These factors, combined with the underlying macroeconomic factors such as economic growth and increased consumer spending power, have contributed to the development of the motorcycles market in Egypt.
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.
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