Motorcycles - Malawi

Malawi

Highlights

In 2024, the projected revenue in the Motorcycles market in Malawi is set to reach US$66.23m.
It is expected to display an annual growth rate (CAGR 2024-2029) of 3.17%, leading to a projected market volume of US$77.43m by 2029.
The largest segment in this market is On-road Motorcycles, which is projected to have a market volume of US$32.51m in 2024.
The unit sales of Motorcycles market in Malawi are expected to reach 36.79k motorcyles by 2029.
The volume weighted average price of Motorcycles market in Malawi in 2024 is anticipated to be US$2.08k.
Honda Motorcycles is expected to have the highest market share in the selected region, with a motorcycle unit sales share of 25.5% in 2024.
Additionally, the value market share of Honda Motorcycles in Malawi is projected to be 23.4% in 2024.
From an international perspective, it is evident that the highest revenue will be generated India, amounting to US$32.11bn in 2024.
Despite the limited purchasing power of the majority of the population, motorcycles in Malawi are becoming increasingly popular as a cost-effective mode of transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Malawi is experiencing significant growth and development due to several key factors.

Customer preferences: In Malawi, motorcycles are not just a mode of transportation, but also serve as a symbol of status and prestige. Many individuals and businesses prefer motorcycles for their affordability, fuel efficiency, and versatility. Motorcycles are particularly popular in rural areas where road infrastructure is limited, as they provide a reliable means of transportation on rough terrains. Additionally, motorcycles are favored by delivery services and small businesses for their ability to navigate through congested city streets and reach remote areas.

Trends in the market: One of the major trends in the Malawian motorcycles market is the increasing demand for electric motorcycles. As the country strives to reduce its carbon footprint and promote sustainable transportation solutions, the adoption of electric motorcycles is gaining traction. These vehicles offer lower operating costs, reduced maintenance requirements, and contribute to a cleaner environment. The government has also introduced incentives and subsidies to encourage the purchase of electric motorcycles, further driving their popularity. Another trend in the market is the growing popularity of motorcycle ride-hailing services. Similar to the global trend of ride-hailing services, Malawi has seen the emergence of platforms that connect motorcycle taxi drivers with customers. These services provide a convenient and affordable transportation option for individuals, especially in urban areas with heavy traffic congestion. The ride-hailing market for motorcycles is expected to continue expanding as more people embrace the convenience and cost-effectiveness of these services.

Local special circumstances: Malawi's geographical landscape and limited road infrastructure contribute to the unique circumstances of the motorcycles market. With a significant portion of the population residing in rural areas, motorcycles play a crucial role in connecting communities and facilitating economic activities. The rugged terrain and lack of paved roads make motorcycles the preferred mode of transportation for many individuals, allowing them to travel to markets, schools, and healthcare facilities.

Underlying macroeconomic factors: The economic growth and increasing disposable income in Malawi have also contributed to the development of the motorcycles market. As more people have the means to afford motorcycles, the demand for these vehicles has surged. Additionally, the government's efforts to improve road infrastructure and promote road safety have further facilitated the growth of the motorcycles market. In conclusion, the motorcycles market in Malawi is experiencing growth and development driven by customer preferences for affordable and versatile transportation options. The increasing demand for electric motorcycles and the emergence of ride-hailing services are key trends shaping the market. The unique circumstances of Malawi's geography and road infrastructure make motorcycles an essential mode of transportation for many individuals, particularly in rural areas. The macroeconomic factors of economic growth and improving road infrastructure also contribute to the market's development.

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.