Motorcycles - Gambia

Gambia

The Motorcycles market in Gambia is projected to generate a revenue of US$2.74m in 2024.
This represents a substantial growth in the market.
It is expected that the market will continue to grow at an annual rate of -0.07% from 2024 to 2029, resulting in a projected market volume of US$2.73m by 2029.
The largest segment in the Motorcycles market in Gambia is the On-road Motorcycles segment, which is projected to reach a market volume of US$1.41m in 2024.
This segment dominates the market and contributes significantly to the overall revenue.
In terms of unit sales, it is expected that the Motorcycles market in Gambia will reach 1.23k motorcyles units in 2029.
This indicates a positive trend in the demand for Motorcycles market in the country.
The volume weighted average price of Motorcycles market in the market is projected to be US$2.20k in 2024.
This average price reflects the pricing dynamics in the market and provides an insight into the affordability of Motorcycles market in Gambia.
When it comes to market share, Other is expected to have the highest share in the selected region, with a motorcycle unit sales share of 54.2% in 2024.
This indicates that Other is a popular choice among consumers in Gambia.
Furthermore, the value market share of Other in the selected region is expected to stand at 48.2% in 2024.
This highlights the brand's dominance in terms of generating revenue in the Motorcycles market.
From an international perspective, it is interesting to note that India is projected to generate the most revenue in the Motorcycles market, with a staggering amount of US$32,110.00m in 2024.
This showcases the significant market potential and demand for Motorcycles market India.
In Gambia, the motorcycle market is experiencing a surge in demand due to its affordability and ability to navigate the country's narrow and crowded roads efficiently.

Key regions: Thailand, Italy, Indonesia, Spain, Germany

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Analyst Opinion

The Motorcycles market in Gambia has witnessed significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: In Gambia, motorcycles are a popular mode of transportation due to their affordability, fuel efficiency, and ability to navigate through narrow and congested roads. Customers are increasingly opting for motorcycles as a primary means of transportation, especially in urban areas where traffic congestion is a major issue. Additionally, motorcycles are also favored by young people and delivery services due to their agility and cost-effectiveness.

Trends in the market: One of the key trends in the motorcycles market in Gambia is the increasing demand for electric motorcycles. As global concerns about climate change and environmental sustainability grow, customers are seeking greener alternatives to traditional gasoline-powered motorcycles. The availability of electric motorcycles in the market has expanded, offering customers a more eco-friendly option. Another trend in the market is the growing popularity of motorbike taxis, also known as "okadas. " These motorbike taxis provide an affordable and convenient mode of transportation, particularly in rural areas where public transportation options are limited. The rise of ride-hailing platforms has further fueled the demand for motorbike taxis, as they offer a quick and efficient way to navigate through traffic.

Local special circumstances: The Gambia has a predominantly rural population, and motorcycles play a crucial role in connecting remote areas to urban centers. They are used for various purposes, including transportation of goods, accessing healthcare facilities, and commuting to work or school. The affordability and versatility of motorcycles make them an ideal choice for individuals living in rural areas, where road infrastructure is often underdeveloped.

Underlying macroeconomic factors: The economic growth in Gambia, coupled with increasing disposable income, has contributed to the growth of the motorcycles market. As more people have the means to purchase motorcycles, the demand continues to rise. Additionally, the government's focus on improving infrastructure, including road networks, has further facilitated the growth of the motorcycles market by enhancing accessibility. In conclusion, the motorcycles market in Gambia is experiencing growth due to changing customer preferences, emerging trends such as electric motorcycles and motorbike taxis, local special circumstances in rural areas, and underlying macroeconomic factors such as economic growth and infrastructure development. These factors collectively contribute to the expansion of the motorcycles market in Gambia.

Methodology

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.