On-road Motorcycles - Republic of the Congo

Republic of the Congo

Highlights

The Republic of the Congo is projected to witness a substantial growth in the revenue of the On-road Motorcycles market segment.
By 2024, the revenue in this segment is expected to reach US$3.83m.
Furthermore, a steady annual growth rate of 0.91% is anticipated from 2024 to 2029, resulting in a projected market volume of US$4.00m by 2029.
In 2029, unit sales for the On-road Motorcycles market segment are expected to reach 1.69k motorcyles.
This growth is significant and highlights the increasing demand for motorcycles in the Republic of the Congo.
The volume weighted average price of the On-road Motorcycles market segment in 2024 is projected to be US$2.36k.
This figure reflects the overall pricing trend in the market and provides insight into the average cost of motorcycles in the country.
When considering the international market, it is interesting to note that India is expected to generate the highest revenue in the On-road Motorcycles market segment.
In 2024, India is projected to generate an impressive revenue of US$21.50bn.
This indicates the strong presence and market potential of the Indian motorcycle industry.
The Republic of the Congo is experiencing a surge in demand for off-road motorcycles, driven by the country's vast and rugged terrain.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The On-road Motorcycles market in Republic of the Congo has been experiencing significant growth in recent years.

Customer preferences: Customers in the Republic of the Congo have shown a strong preference for on-road motorcycles due to their affordability and versatility. These motorcycles are often used for daily commuting, as well as for recreational purposes. The compact size and maneuverability of on-road motorcycles make them ideal for navigating through the country's crowded urban areas and narrow streets. Additionally, the low fuel consumption of these motorcycles is attractive to customers who are looking for cost-effective transportation options.

Trends in the market: One of the key trends in the on-road motorcycles market in the Republic of the Congo is the increasing demand for electric motorcycles. As customers become more environmentally conscious, there is a growing interest in electric vehicles, including motorcycles. Electric motorcycles offer several advantages, such as lower maintenance costs and reduced emissions. The government's efforts to promote sustainable transportation options, including electric vehicles, have also contributed to the rising demand for electric motorcycles in the country. Another trend in the market is the emergence of online platforms for motorcycle sales. With the increasing internet penetration in the Republic of the Congo, more customers are turning to online platforms to search for and purchase motorcycles. These platforms provide customers with a wide range of options, allowing them to compare prices and features before making a purchase. Additionally, online platforms often offer convenient delivery options, making it easier for customers to access motorcycles, especially in areas where physical dealerships may be limited.

Local special circumstances: The Republic of the Congo is a country with a growing middle class and improving economic conditions. As disposable incomes rise, more individuals are able to afford personal transportation, including on-road motorcycles. The affordability and fuel efficiency of these motorcycles make them an attractive option for many customers, especially in comparison to cars or larger vehicles.

Underlying macroeconomic factors: The growth of the on-road motorcycles market in the Republic of the Congo can be attributed to several underlying macroeconomic factors. The country's improving economic conditions have led to increased consumer spending power, allowing more individuals to purchase motorcycles. Additionally, the government's efforts to improve infrastructure and road connectivity have made on-road motorcycles a more viable and convenient mode of transportation. In conclusion, the on-road motorcycles market in the Republic of the Congo is experiencing significant growth, driven by customer preferences for affordable and versatile transportation options. The increasing demand for electric motorcycles and the emergence of online platforms for sales are key trends in the market. The country's growing middle class, improving economic conditions, and government initiatives to promote sustainable transportation are all underlying macroeconomic factors contributing to the market's development.

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.