Off-road Motorcycles - Madagascar

Madagascar

Highlights

The Off-road Motorcycles market segment in Madagascar is expected to achieve a revenue of US$7.10m by 2024.
This projection indicates an annual growth rate (CAGR 2024-2029) of 2.07%, resulting in a market volume of US$7.87m by 2029.
By that year, the unit sales in the Off-road Motorcycles market segment are estimated to reach 1.75k motorcyles.
The volume weighted average price of Off-road Motorcycles market in 2024 is projected to be US$4.45k.
In terms of revenue, Brazil is anticipated to generate the highest amount, with US$1.36bn in 2024.
The off-road motorcycle market in Madagascar is experiencing a surge in demand due to the country's vast and diverse terrain, making it a popular choice for adventure enthusiasts.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Off-road Motorcycles market in Madagascar is experiencing significant growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Madagascar are playing a key role in driving the growth of the Off-road Motorcycles market. With its diverse and rugged terrain, Madagascar offers ample opportunities for off-road adventures. This has led to a growing interest among customers in owning off-road motorcycles that can handle the challenging landscapes of the country. Additionally, off-road motorcycles are favored by customers who enjoy outdoor activities such as motocross, trail riding, and enduro racing, which are becoming increasingly popular in Madagascar. Trends in the market also contribute to the growth of the Off-road Motorcycles market in Madagascar. One notable trend is the increasing demand for electric off-road motorcycles. As the global shift towards sustainability and eco-friendly transportation continues, customers in Madagascar are showing a growing interest in electric vehicles, including off-road motorcycles. This trend is driven by the desire to reduce carbon emissions and have a more environmentally friendly mode of transportation. Local special circumstances further support the growth of the Off-road Motorcycles market in Madagascar. The country's vast and diverse natural landscapes, including mountains, forests, and coastal areas, provide ideal environments for off-road motorcycle enthusiasts. This has led to the establishment of off-road motorcycle clubs and communities, which organize events and competitions, further fueling the demand for off-road motorcycles. Additionally, the government's efforts to promote tourism and adventure sports in Madagascar have also contributed to the growth of the Off-road Motorcycles market. Underlying macroeconomic factors are also influencing the development of the Off-road Motorcycles market in Madagascar. The country's growing middle class and increasing disposable income levels have made off-road motorcycles more affordable and accessible to a larger segment of the population. This, coupled with the availability of financing options, has boosted sales in the market. Furthermore, the government's investment in infrastructure development, including the construction of new roads and off-road trails, has facilitated the growth of the Off-road Motorcycles market by improving accessibility to remote areas. In conclusion, the Off-road Motorcycles market in Madagascar is experiencing significant growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The diverse terrain, growing interest in outdoor activities, and the desire for eco-friendly transportation are all contributing to the increasing demand for off-road motorcycles in the country. As Madagascar continues to develop and promote adventure tourism, the Off-road Motorcycles market is expected to thrive in the coming years.

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.