Off-road Motorcycles - Malawi

Malawi

Highlights

The Off-road Motorcycles market segment in Malawi is forecasted to experience a significant increase in revenue, with projections indicating that it will reach US$18.14m in 2024.
Furthermore, the segment is expected to exhibit a steady annual growth rate of 3.18% (CAGR 2024-2029), resulting in a projected market volume of US$21.21m by 2029.
As for unit sales, it is anticipated that in Malawi will witness an increase, reaching 4.69k motorcyles in 2029.
In terms of pricing, the volume-weighted average price of the Off-road Motorcycles market segment in Malawi is expected to be approximately US$4.50k in 2024.
When examining the international market, it becomes evident that Brazil is poised to generate the highest revenue, reaching an impressive US$1.36bn in 2024.
Despite the challenging road conditions in Malawi, the demand for off-road motorcycles continues to rise due to their ability to navigate through rough terrains.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Off-road Motorcycles market in Malawi is experiencing significant growth and development.

Customer preferences: Customers in Malawi are increasingly showing a preference for off-road motorcycles due to their versatility and durability. Off-road motorcycles are well-suited for navigating the country's rugged terrain and are popular among both recreational riders and those who rely on motorcycles for transportation. Additionally, the affordability of off-road motorcycles makes them an attractive option for many customers in Malawi.

Trends in the market: One of the key trends in the off-road motorcycles market in Malawi is the increasing demand for electric motorcycles. As the global trend towards sustainability and eco-friendly transportation grows, Malawian customers are also becoming more conscious of their environmental impact. Electric motorcycles offer a clean and efficient alternative to traditional gasoline-powered motorcycles, and their popularity is on the rise in Malawi. Another trend in the market is the growing popularity of off-road motorcycle tours and adventures. Malawi's diverse landscapes, including national parks, mountains, and lakes, provide ample opportunities for off-road motorcycle enthusiasts to explore and experience thrilling adventures. This trend has led to the emergence of specialized tour operators and rental services, catering to both domestic and international tourists.

Local special circumstances: Malawi's agricultural sector plays a significant role in the country's economy, and off-road motorcycles are widely used in rural areas for farming activities. Farmers rely on off-road motorcycles to transport crops, fertilizers, and other agricultural inputs across challenging terrains. This specific use case has contributed to the steady demand for off-road motorcycles in Malawi.

Underlying macroeconomic factors: Malawi's growing population and increasing disposable income levels have contributed to the development of the off-road motorcycles market. As more Malawians have access to financial resources, they are able to afford motorcycles for personal use or business purposes. Additionally, the government's efforts to improve infrastructure and connectivity in rural areas have further fueled the demand for off-road motorcycles. In conclusion, the Off-road Motorcycles market in Malawi is experiencing growth and development driven by customer preferences for versatile and durable motorcycles, the increasing demand for electric motorcycles, the popularity of off-road motorcycle tours and adventures, the reliance on motorcycles for agricultural activities, and the country's growing population and improving infrastructure.

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.