Key regions: Nigeria, United States, Spain, Vietnam, Indonesia
The On-road Motorcycles market in Kenya has been experiencing significant growth in recent years.
Customer preferences: Customers in Kenya are increasingly opting for on-road motorcycles due to their affordability, fuel efficiency, and ease of maneuverability in congested urban areas. The rising middle class in the country has also contributed to the growing demand for motorcycles as a mode of transportation.
Trends in the market: One of the key trends in the On-road Motorcycles market in Kenya is the shift towards more eco-friendly and energy-efficient motorcycles. With increasing concerns about environmental pollution and the rising cost of fuel, customers are looking for motorcycles that offer better fuel efficiency and lower emissions. Another trend in the market is the growing popularity of electric motorcycles. As technology continues to advance, electric motorcycles are becoming more affordable and practical for everyday use. This trend is driven by the desire for cleaner and more sustainable transportation options.
Local special circumstances: Kenya has a large population of young people who are entering the workforce and seeking affordable transportation options. On-road motorcycles provide a cost-effective solution for commuting to work or running errands in urban areas. The country also has a growing delivery and logistics industry, which relies heavily on motorcycles for efficient and timely deliveries. This has further fueled the demand for on-road motorcycles in Kenya.
Underlying macroeconomic factors: Kenya has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has played a significant role in driving the demand for on-road motorcycles. Additionally, the government of Kenya has implemented policies to promote the manufacturing and sale of motorcycles in the country. These policies include tax incentives for local production and the establishment of special economic zones. Such initiatives have attracted both domestic and foreign investors, further boosting the growth of the On-road Motorcycles market in Kenya. In conclusion, the On-road Motorcycles market in Kenya is witnessing significant growth due to customer preferences for affordable and fuel-efficient transportation options, as well as the local special circumstances of a growing middle class and a thriving delivery industry. The underlying macroeconomic factors, including steady economic growth and government policies, have also contributed to the development of the market.
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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