On-road Motorcycles - Africa

Africa

Highlights

In 2024, the revenue in the On-road Motorcycles market segment in Africa is projected to reach US$2.81bn.
This segment is expected to experience an annual growth rate of 1.97% (CAGR 2024-2029), resulting in a projected market volume of US$3.10bn by 2029.
By that time, the unit sales in the On-road Motorcycles market segment are expected to reach 1.27m motorcyles.
Additionally, the volume weighted average price of On-road Motorcycles market in Africa is expected to be US$2.38k in 2024.
From an international perspective, it is worth noting that India is projected to generate the highest revenue in the On-road Motorcycles market segment, with US$21.50bn in 2024.
In Africa, the demand for on-road motorcycles is steadily increasing due to the continent's growing urbanization and need for efficient transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Africa is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in Africa are driving the demand for on-road motorcycles. With increasing urbanization and population growth, there is a growing need for affordable and efficient transportation options. On-road motorcycles offer a cost-effective solution for individuals and businesses to navigate congested city streets and reach their destinations quickly. Additionally, the versatility and maneuverability of on-road motorcycles make them popular among young adults and delivery services. Trends in the market further support the growth of the On-road Motorcycles market in Africa. One notable trend is the rise of e-commerce and online delivery services. With the increasing popularity of online shopping, there is a higher demand for efficient and reliable delivery services. On-road motorcycles are well-suited for this task, as they can easily navigate through traffic and deliver goods in a timely manner. This trend is expected to continue as the e-commerce market in Africa expands. Another trend in the market is the shift towards more environmentally friendly modes of transportation. As awareness of climate change and environmental issues grows, there is a greater emphasis on reducing carbon emissions. On-road motorcycles are generally more fuel-efficient than cars and emit fewer greenhouse gases. This makes them an attractive option for individuals and businesses looking to reduce their carbon footprint. Local special circumstances also contribute to the development of the On-road Motorcycles market in Africa. In many African countries, the lack of reliable public transportation infrastructure and the high cost of car ownership make on-road motorcycles a practical choice for many people. Additionally, the informal economy in Africa, which includes sectors such as street vending and small-scale delivery services, relies heavily on on-road motorcycles for transportation and livelihoods. Underlying macroeconomic factors further support the growth of the On-road Motorcycles market in Africa. Economic growth in many African countries has led to an increase in disposable income, allowing more people to afford on-road motorcycles. Additionally, improvements in road infrastructure and the expansion of urban areas are creating a greater demand for efficient transportation options. In conclusion, the On-road Motorcycles market in Africa is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for affordable and efficient transportation, the rise of e-commerce and online delivery services, the shift towards environmentally friendly modes of transportation, the lack of reliable public transportation infrastructure, the informal economy, economic growth, and improvements in road infrastructure all contribute to the positive trajectory of 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.