Scooters - Malawi | Statista Market Forecast

Scooters - Malawi

Malawi

Highlights

In 2024, the Scooters market in Malawi is projected to generate a revenue of US$15.59m.
This is expected to exhibit an annual growth rate of 3.11% from 2024 to 2029, resulting in a projected market volume of US$18.17m by 2029.
By 2029, it is anticipated that the unit sales in the Scooters market will reach 16.07k motorcyles.
The volume weighted average price of the Scooters market in 2024 is projected to be US$1.11k.
When considering the international market, India is expected to generate the highest revenue of US$10.62bn in 2024.
The demand for electric scooters in Malawi is rapidly increasing, driven by the need for affordable and environmentally-friendly transportation options in urban areas.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Malawi is experiencing significant growth and development. Customer preferences have played a major role in shaping this trend, as well as local special circumstances and underlying macroeconomic factors.

Customer preferences: In Malawi, there is a growing demand for affordable and convenient transportation options. Scooters provide an ideal solution for many individuals, as they are cost-effective and easy to maneuver in the country's congested urban areas. Additionally, scooters are fuel-efficient, which is an important consideration for consumers in Malawi, where fuel costs can be high. The compact size of scooters also makes them suitable for navigating through narrow and crowded streets.

Trends in the market: One of the key trends in the Scooters market in Malawi is the increasing popularity of electric scooters. With a growing emphasis on sustainability and environmental consciousness, many consumers are opting for electric scooters as a greener alternative to traditional petrol-powered scooters. Electric scooters also offer cost savings in the long run, as they require less maintenance and have lower fuel costs. Another trend in the market is the rise of scooter-sharing services. These services provide an affordable and convenient transportation option for individuals who do not own their own scooters. Scooter-sharing companies have been expanding their operations in Malawi, particularly in urban areas where there is high demand for short-distance transportation. This trend has been driven by the increasing use of smartphones and mobile apps, which allow users to easily locate and rent scooters.

Local special circumstances: Malawi has a young and growing population, with a significant portion of the population residing in urban areas. This demographic trend has contributed to the demand for scooters, as they are seen as a practical mode of transportation for young professionals and students. Additionally, Malawi has a relatively underdeveloped public transportation system, which further drives the need for personal transportation options like scooters.

Underlying macroeconomic factors: Malawi has experienced steady economic growth in recent years, which has led to an increase in disposable income for many individuals. This rise in income levels has made scooters more affordable and accessible to a larger portion of the population. Additionally, the government has implemented policies to promote the use of scooters as a means of reducing traffic congestion and air pollution in urban areas. These policies include tax incentives for purchasing scooters and the development of infrastructure to support scooter usage. In conclusion, the Scooters market in Malawi is witnessing growth and development due to customer preferences for affordable and convenient transportation options, the rising popularity of electric scooters, the emergence of scooter-sharing services, the young and urban population, and the favorable macroeconomic factors. As these trends continue to shape the market, it is expected that the demand for scooters in Malawi will continue to grow in the coming years.

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.