Motorcycles - Morocco

Morocco

Highlights

The Motorcycles market in Morocco is projected to generate a revenue of US$63.84m in 2024.
It is expected to experience an annual growth rate of 0.48% (CAGR 2024-2029), resulting in a projected market volume of US$65.38m by 2029.
The largest segment in this market is On-road Motorcycles, which is projected to reach a market volume of US$38.19m in 2024.
In terms of unit sales, the Motorcycles market is expected to reach 35.53k motorcyles in 2029.
The volume weighted average price of Motorcycles market in 2024 is projected to be US$1.81k.
When it comes to market share, Honda Motorcycles is expected to have the highest share in the selected region, with a motorcycle unit sales share of 28.0% in 2024.
Additionally, the value market share of Honda Motorcycles in the selected region is projected to be 29.5% in 2024.
From an international perspective, it is evident that India will generate the highest revenue in the Motorcycles market, with US$32.11bn in 2024.
Morocco is experiencing a surge in demand for off-road motorcycles due to its diverse and challenging terrain.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Morocco has been experiencing steady growth in recent years. Customer preferences have shifted towards motorcycles as a popular mode of transportation due to their affordability and fuel efficiency. Additionally, the market has been influenced by local special circumstances and underlying macroeconomic factors. Customer preferences in the Motorcycles market in Morocco have been driven by several factors. Firstly, motorcycles are a more affordable option compared to cars, making them an attractive choice for cost-conscious consumers. Additionally, motorcycles are known for their fuel efficiency, which is particularly appealing in a country where fuel prices can be high. Moreover, motorcycles offer greater maneuverability in congested urban areas, making them a practical choice for daily commuting. Trends in the Motorcycles market in Morocco have also played a role in its development. One notable trend is the increasing popularity of electric motorcycles. As environmental concerns grow, more consumers are opting for electric vehicles, including motorcycles. This trend is expected to continue as the government implements initiatives to promote clean energy and reduce carbon emissions. Another trend in the market is the rise of online sales platforms. With the increasing availability of internet access and the convenience of online shopping, more consumers are turning to online platforms to purchase motorcycles. This trend has been accelerated by the COVID-19 pandemic, which has led to a shift towards online shopping across various industries. Local special circumstances have also influenced the Motorcycles market in Morocco. The country's geography, with its diverse landscapes and varying terrains, has contributed to the demand for motorcycles. Motorcycles are well-suited for navigating through different types of terrain, including mountainous regions and desert areas. Underlying macroeconomic factors have also played a role in the development of the Motorcycles market in Morocco. The country's economic growth and rising middle class have increased disposable incomes, allowing more individuals to afford motorcycles. Additionally, government initiatives to improve infrastructure, such as the expansion of road networks, have made motorcycles a more viable mode of transportation. In conclusion, the Motorcycles market in Morocco has experienced growth due to customer preferences for affordable and fuel-efficient transportation options. Trends such as the increasing popularity of electric motorcycles and the rise of online sales platforms have further contributed to the market's development. Local special circumstances, such as the country's diverse geography, and underlying macroeconomic factors, including economic growth and infrastructure improvements, have also played a role in shaping the market.

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.