On-road Motorcycles - Angola

Angola

Highlights

The On-road Motorcycles market segment in Angola is expected to generate a revenue of US$50.57m in 2024.
This revenue is projected to grow at an annual growth rate of 1.55% from 2024 to 2029, resulting in a market volume of US$54.62m by 2029.
The unit sales in the On-road Motorcycles market segment are anticipated to reach 21.78k motorcyles in 2029.
The volume weighted average price of the On-road Motorcycles market segment in Angola is expected to be US$2.44k in 2024.
When looking at the international perspective, it is noteworthy that India is projected to generate the highest revenue in this segment, with US$21.50bn in 2024.
Despite the economic challenges faced by Angola, the demand for on-road motorcycles continues to grow as a cost-effective mode of transportation in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Angola has been experiencing significant growth in recent years, driven by customer preferences for affordable and efficient transportation options.

Customer preferences: Angolan consumers have shown a strong preference for on-road motorcycles due to their affordability and fuel efficiency. With the rising cost of living and limited public transportation options, many individuals are turning to motorcycles as a more cost-effective means of transportation. Additionally, motorcycles are well-suited to Angola's urban areas, where traffic congestion is a common problem. The compact size and maneuverability of motorcycles make them a convenient choice for navigating through crowded streets.

Trends in the market: One of the key trends in the On-road Motorcycles market in Angola is the increasing demand for electric motorcycles. As global concern for the environment grows, more consumers are looking for eco-friendly alternatives to traditional gasoline-powered vehicles. Electric motorcycles offer a cleaner and more sustainable mode of transportation, and their popularity is expected to continue to rise in Angola. Another trend in the market is the introduction of new models and features to cater to the specific needs of Angolan consumers. Motorcycle manufacturers are increasingly focusing on developing motorcycles that are suitable for the local terrain and climate conditions. For example, motorcycles with enhanced suspension systems and off-road capabilities are gaining popularity in rural areas where road conditions can be challenging.

Local special circumstances: Angola's economic growth and increasing urbanization have contributed to the expansion of the On-road Motorcycles market. As more people move to cities in search of better job opportunities, the demand for affordable transportation options has increased. On-road motorcycles provide a cost-effective solution for daily commuting, especially in congested urban areas.

Underlying macroeconomic factors: The growth of the On-road Motorcycles market in Angola is also influenced by macroeconomic factors such as GDP growth and income levels. As the Angolan economy continues to recover from a period of recession, disposable incomes are increasing, allowing more individuals to afford motorcycles. Additionally, the government's efforts to improve infrastructure and road networks are making motorcycles a more viable option for transportation. In conclusion, the On-road Motorcycles market in Angola is experiencing growth due to customer preferences for affordable and efficient transportation options. The increasing demand for electric motorcycles and the introduction of new models tailored to local needs are key trends in the market. The economic growth, urbanization, and improved infrastructure in Angola are underlying macroeconomic factors driving the market's development.

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.