Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Ethiopia has been experiencing significant growth in recent years, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Ethiopian customers have shown a strong preference for on-road motorcycles due to their affordability, fuel efficiency, and versatility. With the increasing urbanization and congestion in cities, motorcycles provide a convenient mode of transportation, allowing people to navigate through traffic more easily. Additionally, motorcycles are often used for commercial purposes, such as delivery services, which further drives the demand for on-road motorcycles.
Trends in the market: One of the key trends in the on-road motorcycles market in Ethiopia is the shift towards electric motorcycles. As the government aims to reduce carbon emissions and promote sustainable transportation, there has been a growing interest in electric vehicles, including motorcycles. This trend is also driven by the availability of affordable electric motorcycles in the market and the lower operating costs compared to traditional gasoline-powered motorcycles. Another trend in the market is the increasing demand for higher-powered motorcycles. As the economy grows and disposable incomes rise, there is a growing segment of customers who are willing to invest in more powerful motorcycles for recreational purposes. This trend is also influenced by the popularity of motorcycle racing and the desire for a more thrilling riding experience.
Local special circumstances: Ethiopia has a large population and a growing middle class, which provides a significant customer base for the on-road motorcycles market. The country also has a relatively young population, with a high proportion of young adults who are more likely to purchase motorcycles for personal or commercial use. Additionally, the lack of efficient public transportation infrastructure in many parts of the country makes motorcycles a practical and affordable transportation option.
Underlying macroeconomic factors: The economic growth in Ethiopia has been a key driver of the on-road motorcycles market. As the economy expands, more people have access to disposable income, allowing them to purchase motorcycles. The government's efforts to improve infrastructure, such as road networks and fuel stations, also contribute to the growth of the market. Furthermore, favorable government policies, such as tax incentives and import regulations, have made motorcycles more accessible and affordable for consumers. In conclusion, the on-road motorcycles market in Ethiopia is experiencing significant growth due to customer preferences for affordable and versatile transportation options, market trends towards electric and higher-powered motorcycles, local special circumstances such as a growing population and lack of efficient public transportation, and underlying macroeconomic factors including economic growth and favorable 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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