Motorcycles - Ivory Coast

Ivory Coast

In 2024, the projected revenue in the Motorcycles market of Ivory Coast is estimated to reach US$67.24m.
It is expected that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of 1.33%, leading to a projected market volume of US$71.83m by 2029.
The largest segment in this market is On-road Motorcycles, which is projected to have a market volume of US$50.44m in 2024.
As for unit sales, it is anticipated that Motorcycles market will reach 37.36k motorcyles by 2029.
The volume weighted average price of Motorcycles market in Ivory Coast is expected to be US$1.88k in 2024.
With a motorcycle unit sales share of 43.9% in 2024, Other is projected to have the highest market share in the country.
Furthermore, the value market share of Other is expected to stand at 36.2% in 2024.
Considering the international perspective, it is evident that India will generate the highest revenue, amounting to US$32,110.00m in 2024.
Ivory Coast is experiencing a surge in motorcycle sales due to the country's poor road infrastructure and increasing demand for affordable transportation options.

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

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Analyst Opinion

The Motorcycles market in Ivory Coast has been experiencing significant 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 Ivory Coast, motorcycles are a popular mode of transportation for both urban and rural areas. This preference is mainly due to their affordability, fuel efficiency, and ability to navigate through congested traffic. Additionally, motorcycles are often preferred for their versatility, allowing users to transport goods and passengers.

Trends in the market: One of the key trends in the motorcycles market in Ivory Coast is the increasing demand for motorcycles with higher engine capacities. This trend is driven by the need for motorcycles that can handle rough terrains and carry heavier loads, especially in rural areas where road infrastructure is less developed. As a result, there has been a shift towards motorcycles with engine capacities above 150cc. Another trend in the market is the growing popularity of electric motorcycles. This trend is driven by the increasing awareness of environmental issues and the desire for more sustainable transportation options. Electric motorcycles offer lower emissions and reduced fuel consumption, making them an attractive choice for environmentally conscious consumers.

Local special circumstances: Ivory Coast has a large informal economy, with many individuals engaged in small-scale businesses and informal transportation services. Motorcycles play a crucial role in supporting these economic activities, providing a cost-effective and efficient means of transportation. The demand for motorcycles is further fueled by the need for reliable transportation in rural areas, where public transportation options are limited.

Underlying macroeconomic factors: The motorcycles market in Ivory Coast is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and purchasing power. This has contributed to the growing demand for motorcycles as consumers are able to afford them. Additionally, the government of Ivory Coast has implemented policies to promote the motorcycle industry, such as reducing import tariffs and providing incentives for local production. These policies have attracted foreign investments and stimulated the growth of the motorcycles market. In conclusion, the motorcycles market in Ivory Coast is experiencing growth due to customer preferences for affordable and versatile transportation options, trends towards higher engine capacities and electric motorcycles, local special circumstances such as the informal economy and limited public transportation options, and underlying macroeconomic factors such as economic growth and government policies.

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.