Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Burkina Faso is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: In Burkina Faso, there is a growing demand for on-road motorcycles as they provide a cost-effective and efficient mode of transportation. Many individuals and businesses prefer motorcycles over cars due to their affordability, easy maneuverability in traffic, and lower fuel consumption. Additionally, motorcycles are well-suited for navigating the country's uneven and poorly maintained road infrastructure.
Trends in the market: One of the key trends driving the growth of the on-road motorcycles market in Burkina Faso is the increasing urbanization and population growth. As more people move to urban areas, the need for convenient and affordable transportation options becomes crucial. On-road motorcycles provide a viable solution for individuals who need to commute within cities or travel short distances. Another trend in the market is the rising popularity of motorcycle taxis, also known as "moto-taxis. " These motorcycle taxis offer a quick and efficient mode of transportation for both individuals and goods. They are particularly popular in rural areas where public transportation options are limited. The demand for moto-taxis has led to an increase in the number of motorcycles being purchased for commercial purposes.
Local special circumstances: Burkina Faso is a landlocked country with a predominantly rural population. The lack of reliable public transportation infrastructure, especially in rural areas, has contributed to the growing demand for on-road motorcycles. Motorcycles provide a flexible and affordable means of transportation, allowing individuals to access essential services, such as healthcare and education, in remote areas. Additionally, Burkina Faso has a relatively young population, with a large percentage of the population falling within the working-age group. This demographic factor has created a significant market for on-road motorcycles, as young individuals seek employment opportunities and need transportation to commute to work.
Underlying macroeconomic factors: The economic growth and increasing disposable income in Burkina Faso have played a significant role in driving the demand for on-road motorcycles. As the economy improves, more individuals have the financial means to purchase motorcycles for personal or commercial use. The affordability of motorcycles compared to cars makes them an attractive option for many consumers. Furthermore, the government of Burkina Faso has implemented policies to support the growth of the transportation sector, including the promotion of motorcycle manufacturing and assembly. These policies have attracted investments from both domestic and international companies, leading to the availability of a wide range of motorcycle models in the market. In conclusion, the on-road motorcycles market in Burkina Faso is experiencing growth due to customer preferences for cost-effective and efficient transportation, emerging trends such as the popularity of motorcycle taxis, local special circumstances like the lack of reliable public transportation infrastructure, and underlying macroeconomic factors such as economic growth and government policies.
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.
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