Motorcycles - Equatorial Guinea

Equatorial Guinea

Highlights

Equatorial Guinea's Motorcycles market is projected to reach a revenue of US$909.80k in 2024.
The market is expected to experience a steady annual growth rate (CAGR 2024-2029) of -0.07%, which would result in a projected market volume of US$906.60k by 2029.
Among the various segments in the market, the largest one is On-road Motorcycles, which is projected to have a market volume of US$472.30k in 2024.
Looking ahead, Motorcycles market unit sales are projected to reach 412.00motorcyles by 2029.
In terms of pricing, the volume weighted average price of Motorcycles market in 2024 is expected to be US$2.19k.
Within Equatorial Guinea's Motorcycles market, Bajaj Motorcycles is expected to hold the highest market share in 2024, with a motorcycle unit sales share of 13.5%.
Additionally, the value market share of Bajaj Motorcycles is projected to stand at 20.0% in the same year.
From an international perspective, it is interesting to note that India is forecasted to generate the highest revenue in the Motorcycles market, amounting to US$32.11bn in 2024.
Equatorial Guinea has seen a surge in demand for off-road motorcycles, driven by the country's rugged terrain and growing interest in adventure biking.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Equatorial Guinea is experiencing significant growth due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the development of this market. Customer preferences in Equatorial Guinea play a crucial role in the growth of the Motorcycles market. The population in Equatorial Guinea has a strong affinity for motorcycles due to their affordability and convenience. Motorcycles are often seen as a more cost-effective mode of transportation compared to cars, especially in urban areas with heavy traffic. Additionally, motorcycles are well-suited for navigating the country's uneven terrain and rural areas, making them a popular choice for both commuting and recreational purposes. Trends in the market also contribute to the growth of the Motorcycles market in Equatorial Guinea. One notable trend is the increasing demand for motorcycles with higher engine capacities. This trend can be attributed to the growing disposable income of the population, which allows for the purchase of more powerful motorcycles. Furthermore, there is a rising interest in motorcycles with advanced features such as improved fuel efficiency, enhanced safety measures, and modern designs. These trends indicate a shift towards more sophisticated and technologically advanced motorcycles in the market. Local special circumstances in Equatorial Guinea also impact the development of the Motorcycles market. The country's inadequate public transportation infrastructure, particularly in rural areas, creates a strong demand for motorcycles as a means of transportation. Additionally, the high import taxes on cars make motorcycles a more affordable option for many consumers. These circumstances contribute to the increasing popularity and sales of motorcycles in the country. Underlying macroeconomic factors further support the growth of the Motorcycles market in Equatorial Guinea. The country's stable economic growth and rising per capita income contribute to increased consumer spending power. This allows more individuals to afford motorcycles and contributes to the growth of the market. Furthermore, the government's efforts to improve road infrastructure and promote tourism also play a role in driving the demand for motorcycles. In conclusion, the Motorcycles market in Equatorial Guinea is experiencing significant growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The affordability, convenience, and suitability of motorcycles in the country contribute to their popularity among consumers. With the increasing demand for motorcycles with higher engine capacities and advanced features, as well as the country's inadequate public transportation infrastructure and high import taxes on cars, the market is expected to continue its growth trajectory.

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.