Motorcycles - Zambia

Zambia

Highlights

In 2024, the projected revenue in the Motorcycles market in Zambia is expected to reach US$52.47m.
This represents a significant growth potential for the country's motorcycle industry.
Furthermore, the market is expected to continue growing at an annual growth rate of 3.83%, resulting in a projected market volume of US$63.30m by 2029.
Among the various segments within the market, On-road Motorcycles is the largest, with a projected market volume of US$27.44m in 2024.
This indicates the popularity of on-road Motorcycles market among consumers in Zambia.
Looking specifically at unit sales, it is anticipated that the Motorcycles market will see an increase in sales, reaching 27.43k motorcyles units by 2029.
This highlights the growing demand for Motorcycles market in the country.
In terms of pricing, the volume weighted average price of Motorcycles market in the market is expected to be US$2.25k in 2024.
This figure reflects the average price point at which Motorcycles market are sold in Zambia.
When analyzing market share, Honda Motorcycles is projected to have the highest market share in the selected region, with a motorcycle unit sales share of 25.1% in 2024.
This indicates the strong presence and popularity of Honda Motorcycles market among consumers in Zambia.
In addition to unit sales share, the value market share of Honda Motorcycles in the selected region is expected to stand at 21.5% in 2024.
This demonstrates the significant contribution of Honda Motorcycles to the overall value of the motorcycle market in Zambia.
On an international level, it is worth noting that India is expected to generate the most revenue in the Motorcycles market, with an estimated revenue of US$32.11bn in 2024.
This highlights the dominance of the Indian market in the global motorcycle industry.
In Zambia, the demand for motorcycles has been steadily increasing as they provide a cost-effective and efficient mode of transportation in both urban and rural areas.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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.