On-road Motorcycles - Ivory Coast

Ivory Coast

The projected revenue for the On-road Motorcycles market segment in Ivory Coast is estimated to reach US$50.44m in 2024.
It is expected that the revenue will experience an annual growth rate of 1.32% from 2024 to 2029, resulting in a projected market volume of US$53.85m by 2029.
Furthermore, it is anticipated that the unit sales in the On-road Motorcycles market segment will reach 21.90k motorcyles by 2029.
In 2024, the volume weighted average price of On-road Motorcycles market segment in Ivory Coast is expected to be approximately US$2.40k.
It is worth noting that, from an international perspective, India is projected to generate the highest revenue in the On-road Motorcycles market segment, amounting to US$21,500.00m in 2024.
Ivory Coast's on-road motorcycle market is experiencing a surge in demand due to the country's growing urbanization and increasing disposable income.

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

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Analyst Opinion

The On-road Motorcycles market in Ivory Coast is experiencing significant growth due to several factors.

Customer preferences: Customers in Ivory Coast are increasingly opting for on-road motorcycles as their preferred mode of transportation. This is primarily driven by the affordability and convenience offered by these vehicles. On-road motorcycles provide a cost-effective solution for commuting in urban areas with heavy traffic congestion. Additionally, the compact size of these motorcycles makes them well-suited for navigating through narrow streets and crowded areas.

Trends in the market: One of the key trends in the On-road Motorcycles market in Ivory Coast is the increasing demand for fuel-efficient and environmentally friendly motorcycles. With rising concerns about pollution and fuel prices, customers are seeking motorcycles that offer better fuel efficiency and lower emissions. Manufacturers in the market are responding to this trend by introducing more fuel-efficient models that comply with the latest emission regulations. This trend is expected to continue as customers become more conscious about the environmental impact of their vehicles. Another trend in the market is the growing popularity of electric motorcycles. As technology advances and battery costs decrease, electric motorcycles are becoming a viable alternative to traditional gasoline-powered motorcycles. Customers in Ivory Coast are showing interest in electric motorcycles due to their lower operating costs and reduced environmental impact. However, the high initial cost of electric motorcycles remains a barrier to widespread adoption.

Local special circumstances: Ivory Coast has a young and growing population, which is driving the demand for on-road motorcycles. As more young people enter the workforce and move to urban areas, the need for affordable and efficient transportation options is increasing. On-road motorcycles provide a practical solution for daily commuting, especially in areas where public transportation is limited. Additionally, the informal nature of the economy in Ivory Coast, with a significant portion of the population engaged in small-scale businesses, further fuels the demand for affordable transportation options.

Underlying macroeconomic factors: The economic growth in Ivory Coast is contributing to the development of the On-road Motorcycles market. As the country's economy expands, more individuals are able to afford motorcycles for personal transportation. Rising disposable incomes and improving living standards are driving the demand for on-road motorcycles. Additionally, the government's focus on infrastructure development, including the construction of new roads and highways, is further boosting the demand for motorcycles as a means of transportation. In conclusion, the On-road Motorcycles market in Ivory Coast is witnessing significant growth due to customer preferences for affordable and convenient transportation options. The increasing demand for fuel-efficient and electric motorcycles reflects a growing awareness of environmental concerns. The young and growing population, along with the informal nature of the economy, contributes to the demand for on-road motorcycles. The overall economic growth and infrastructure development in Ivory Coast further support the expansion 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.