Off-road Motorcycles - Ethiopia

Ethiopia

Highlights

The Off-road Motorcycles market segment in Ethiopia is anticipated to generate a revenue of US$220.40m in 2024.
It is projected to experience a steady annual growth rate (CAGR 2024-2029) of 0.55%, resulting in a market volume of US$226.40m by 2029.
By that year, the unit sales in the Off-road Motorcycles market segment are expected to reach 50.03k motorcyles.
In 2024, the volume weighted average price of Off-road Motorcycles market in Ethiopia is estimated to be US$4.44k.
When considering the international market, Brazil is expected to generate the highest revenue of US$1.36bn in 2024.
Ethiopia's off-road motorcycle market is witnessing a surge in demand due to the country's diverse and rugged terrains.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Off-road Motorcycles market in Ethiopia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Off-road Motorcycles market in Ethiopia have been shifting towards more durable and versatile vehicles that can handle rough terrains and challenging environments. This is due to the country's diverse landscape, which includes mountains, deserts, and forests, making off-road motorcycles a popular choice for adventure enthusiasts and outdoor enthusiasts. Additionally, the affordability of off-road motorcycles compared to other types of vehicles has also contributed to their growing popularity among customers in Ethiopia. Trends in the Off-road Motorcycles market in Ethiopia include the increasing popularity of electric off-road motorcycles. This trend is driven by a global shift towards more sustainable and environmentally-friendly transportation options. As customers become more conscious of their carbon footprint, they are seeking out electric vehicles, including off-road motorcycles, as an alternative to traditional gasoline-powered vehicles. This trend is expected to continue as advancements in technology make electric off-road motorcycles more accessible and affordable. Another trend in the market is the rise of off-road motorcycle clubs and events in Ethiopia. These clubs and events provide a platform for off-road motorcycle enthusiasts to connect, share experiences, and participate in off-road riding competitions. The growing number of clubs and events in the country is a testament to the increasing interest in off-road motorcycles and the sense of community that comes with it. Local special circumstances in Ethiopia, such as the country's underdeveloped road infrastructure, also contribute to the growth of the Off-road Motorcycles market. With limited paved roads and a significant portion of the population living in rural areas, off-road motorcycles provide a practical and efficient mode of transportation for many Ethiopians. Additionally, the affordability of off-road motorcycles compared to cars or trucks makes them a more accessible option for individuals and businesses in the country. Underlying macroeconomic factors, such as a growing middle class and increasing disposable income, also play a role in the development of the Off-road Motorcycles market in Ethiopia. As more people have the means to purchase recreational vehicles, the demand for off-road motorcycles is expected to continue to rise. Additionally, the government's efforts to promote tourism and outdoor activities in the country further contribute to the growth of the market, as off-road motorcycles are often used for adventure tourism and exploration. Overall, the Off-road Motorcycles market in Ethiopia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the market continues to develop, it is expected to provide opportunities for both domestic and international manufacturers and retailers in the off-road motorcycle industry.

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.