On-road Motorcycles - Morocco

Morocco

Highlights

In 2024, the projected revenue in the On-road Motorcycles market segment in Morocco is expected to reach US$38.19m.
This forecast indicates that the market is set to experience a steady growth rate, with an expected annual growth rate (CAGR 2024-2029) of 0.53%.
This growth trajectory is projected to result in a market volume of US$39.20m by 2029.
Looking specifically at unit sales, it is anticipated that the On-road Motorcycles market segment in Morocco will reach 18.72k motorcyles units sold by 2029.
This indicates a positive trend in the demand for these motorcycles within the country.
Furthermore, the volume weighted average price of On-road Motorcycles market in Morocco is expected to amount to US$2.05k in 2024.
This figure serves as a benchmark for the pricing dynamics within the segment.
From an international perspective, India is projected to generate the highest revenue in the On-road Motorcycles market segment, with an estimated revenue of US$21.50bn in 2024.
This insight underscores the significance of the Indian market in the global context.
Morocco is experiencing a surge in demand for on-road motorcycles, driven by the country's growing urban population and increasing interest in leisure and recreational activities.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Moroccan consumers have shown a growing interest in on-road motorcycles, which can be attributed to several factors. Firstly, on-road motorcycles provide a cost-effective mode of transportation, especially for urban commuters who are looking for a convenient and efficient way to navigate through traffic. Additionally, on-road motorcycles offer a sense of freedom and flexibility, allowing riders to easily maneuver through congested city streets. Furthermore, the increasing popularity of leisure activities such as motorcycling trips and group rides has also contributed to the rising demand for on-road motorcycles in Morocco.

Trends in the market: One of the key trends in the on-road motorcycles market in Morocco is the shift towards more fuel-efficient and environmentally friendly models. With growing concerns about climate change and rising fuel prices, consumers are becoming more conscious of their carbon footprint and are seeking motorcycles that offer better fuel efficiency. As a result, manufacturers are focusing on developing and promoting electric and hybrid models that cater to this changing consumer preference. Another trend in the market is the increasing demand for smaller and more compact on-road motorcycles. This can be attributed to the growing urbanization in Morocco, where space is limited and traffic congestion is a common issue. Smaller motorcycles are easier to navigate through crowded streets and can be parked more conveniently. Additionally, these smaller models are often more affordable, making them accessible to a wider range of consumers.

Local special circumstances: Morocco's geographical location and climate also play a significant role in the development of the on-road motorcycles market. The country's diverse landscapes, including mountains, deserts, and coastal regions, offer a wide range of terrains for motorcycle enthusiasts to explore. This has led to an increased interest in adventure and off-road motorcycles, as riders seek to experience the thrill of exploring Morocco's natural beauty. Furthermore, Morocco has a vibrant motorcycle culture, with numerous clubs and events dedicated to motorcycling. This sense of community and camaraderie among motorcycle enthusiasts has contributed to the growth of the on-road motorcycles market, as riders are eager to participate in group rides and events.

Underlying macroeconomic factors: Morocco's economic growth and increasing disposable income levels have also had a positive impact on the on-road motorcycles market. As the economy continues to develop, more Moroccans are able to afford the purchase and maintenance of motorcycles. This has resulted in a larger consumer base for on-road motorcycles, driving market growth. Additionally, the government's efforts to improve infrastructure, including road networks and parking facilities, have made it more convenient for individuals to own and use motorcycles as a mode of transportation. This has further fueled the demand for on-road motorcycles in Morocco. In conclusion, the on-road motorcycles market in Morocco is experiencing growth due to customer preferences for cost-effective transportation, the shift towards fuel-efficient models, and the increasing demand for smaller motorcycles. Local special circumstances, such as Morocco's diverse landscapes and vibrant motorcycle culture, also contribute to the market's development. Furthermore, underlying macroeconomic factors, including economic growth and improved infrastructure, support the growth of the on-road motorcycles market in Morocco.

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.