The Motorcycles market in Zambia has witnessed significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Motorcycles market in Zambia have been shifting towards more affordable and fuel-efficient models. This is largely due to the fact that motorcycles are a popular mode of transportation in Zambia, especially in rural areas where road infrastructure is limited. Customers are increasingly looking for motorcycles that are cost-effective to purchase and maintain, as well as ones that offer good fuel efficiency to help them save on transportation costs. In terms of market trends, the Motorcycles market in Zambia has seen a rise in the demand for off-road motorcycles. This can be attributed to the country's diverse terrain, which includes both urban and rural areas with rough and unpaved roads. Off-road motorcycles are better suited to navigate these challenging terrains, making them a popular choice among customers in Zambia. Local special circumstances also play a role in the development of the Motorcycles market in Zambia. The country has a large population of small-scale farmers who rely on motorcycles for their agricultural activities. Motorcycles are used for transporting goods, accessing markets, and reaching remote farming areas. As a result, there is a constant demand for motorcycles in the agricultural sector, contributing to the growth of the market. Underlying macroeconomic factors have also influenced the development of the Motorcycles market in Zambia. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income for many Zambians. This has made motorcycles more affordable and accessible to a larger segment of the population, driving up demand in the market. Additionally, the government of Zambia has implemented policies to promote the use of motorcycles as a means of transportation. This includes the construction of new roads and the improvement of existing ones, which has made it easier for motorcycles to navigate the country's diverse terrain. These infrastructure developments have further contributed to the growth of the Motorcycles market in Zambia. In conclusion, the Motorcycles market in Zambia is developing due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences for affordable and fuel-efficient models, the demand for off-road motorcycles, the reliance on motorcycles in the agricultural sector, and the country's economic growth and infrastructure developments are all driving the growth 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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