On-road Motorcycles - Egypt

Egypt

Highlights

In 2024, the projected revenue in the On-road Motorcycles market segment in Egypt is expected to reach US$537.10m.
The revenue is anticipated to display an annual growth rate (CAGR 2024-2029) of 0.72%, resulting in a projected market volume of US$556.80m by 2029.
The unit sales in the On-road Motorcycles market segment are predicted to reach 156.10k motorcyles in 2029.
The volume weighted average price of On-road Motorcycles market in Egypt in 2024 is expected to amount to US$3.54k.
From an international perspective, it is evident that the highest revenue will be generated India, with an estimated amount of US$21.50bn in 2024.
Egypt's On-road Motorcycle market is experiencing a surge in demand due to a growing urban population and an increasing interest in recreational riding.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Egypt has been experiencing steady growth in recent years.

Customer preferences: Egyptian consumers show a strong preference for on-road motorcycles due to their affordability and convenience. With the increasing urbanization and traffic congestion in major cities like Cairo and Alexandria, more people are turning to motorcycles as a practical mode of transportation. On-road motorcycles offer a cost-effective solution for commuting in crowded cities, allowing riders to navigate through traffic more easily and reach their destinations faster.

Trends in the market: One of the key trends in the on-road motorcycles market in Egypt is the rising demand for electric motorcycles. As the government and consumers become more environmentally conscious, there is a growing interest in electric vehicles, including motorcycles. Electric motorcycles offer a cleaner and more sustainable alternative to traditional gasoline-powered bikes, reducing both air and noise pollution. This trend is expected to continue as the government introduces incentives and policies to promote the adoption of electric vehicles. Another trend in the market is the increasing popularity of smaller and more fuel-efficient motorcycles. With rising fuel prices, consumers are looking for motorcycles that offer better fuel economy. Smaller displacement motorcycles are not only more affordable but also consume less fuel, making them an attractive option for budget-conscious consumers. Additionally, these motorcycles are easier to maneuver in congested city streets, further driving their demand.

Local special circumstances: Egypt's geographical location and climate make motorcycles a popular choice for transportation. The country's warm weather and relatively flat terrain make it ideal for riding motorcycles year-round. Additionally, Egypt's extensive road network and improving infrastructure provide ample opportunities for motorcycle riders to explore different parts of the country. This combination of favorable weather conditions and well-maintained roads contributes to the growing popularity of on-road motorcycles in Egypt.

Underlying macroeconomic factors: Egypt's growing middle class and increasing disposable income have played a significant role in the development of the on-road motorcycles market. As more people enter the middle class, they have greater purchasing power and are more likely to invest in personal transportation. On-road motorcycles offer an affordable and practical option for individuals and families who cannot afford or do not want to invest in a car. This rising middle class, coupled with favorable government policies and incentives, has contributed to the growth of the on-road motorcycles market in Egypt. In conclusion, the on-road motorcycles market in Egypt is developing due to customer preferences for affordable and convenient transportation options, the rising demand for electric motorcycles, the popularity of smaller and more fuel-efficient bikes, favorable local circumstances, and the country's growing middle class and increasing disposable income. These factors, combined with government initiatives to promote the adoption of electric vehicles, will continue to drive the growth of the on-road motorcycles market in Egypt in the coming years.

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.