On-road Motorcycles - Central Africa

Central Africa

The Central African country is projected to see a significant increase in revenue in the On-road Motorcycles market segment.
By 2024, the revenue is expected to reach US$73.32m.
Moreover, there is an anticipated annual growth rate (CAGR 2024-2029) of 0.98%, resulting in a projected market volume of US$77.00m by 2029.
In terms of unit sales, it is expected that 31.33k motorcyles On-road Motorcycles market will be sold in 2029.
Additionally, the volume weighted average price of the On-road Motorcycles market segment in 2024 is projected to be US$2.41k.
From an international perspective, it is evident that India will generate the highest revenue in the On-road Motorcycles market segment, amounting to US$21,500.00m in 2024.
Despite challenging infrastructure, Central Africa has seen a rise in demand for on-road motorcycles due to their affordability and versatility in navigating rugged terrain.

Key regions: Nigeria, United States, Spain, Vietnam, Indonesia

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Analyst Opinion

The On-road Motorcycles market in Central Africa is experiencing significant growth and development due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Central Africa are playing a key role in the growth of the On-road Motorcycles market. With the increasing urbanization and population growth in the region, there is a growing demand for affordable and efficient transportation options. On-road motorcycles provide a cost-effective and convenient mode of transportation, especially in congested urban areas where cars are often impractical. Additionally, motorcycles are favored by many individuals for their versatility and ability to navigate through narrow and crowded roads. Trends in the market also contribute to the development of the On-road Motorcycles market in Central Africa. One notable trend is the increasing popularity of motorcycles for commercial purposes, such as food delivery and transportation services. This trend is driven by the rise of e-commerce and the need for quick and efficient delivery services. Many individuals are turning to motorcycles as a means of earning income and meeting the growing demand for delivery services. Local special circumstances further support the growth of the On-road Motorcycles market in Central Africa. The region's infrastructure, particularly in rural areas, is often underdeveloped and poorly maintained. This makes motorcycles a practical choice for transportation, as they can easily navigate through rough and unpaved roads. Additionally, motorcycles are relatively cheaper to purchase and maintain compared to other forms of transportation, making them more accessible to a wider population. Underlying macroeconomic factors also contribute to the development of the On-road Motorcycles market in Central Africa. The region is experiencing economic growth, which has led to an increase in disposable income and purchasing power. As a result, more individuals are able to afford motorcycles as a means of transportation. Furthermore, the presence of a young and growing population in Central Africa creates a favorable market for motorcycles, as younger individuals are more likely to embrace the convenience and affordability of motorcycles. In conclusion, the On-road Motorcycles market in Central Africa is developing and growing due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for affordable and efficient transportation options, the increasing popularity of motorcycles for commercial purposes, the region's infrastructure, economic growth, and the presence of a young population all contribute to the growth and development of the market.

Methodology

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.