Motorcycles - Zimbabwe

Zimbabwe

Highlights

The Motorcycles market in Zimbabwe is projected to generate a revenue of US$51.50m in 2024.
This market segment is expected to experience a steady annual growth rate (CAGR 2024-2029) of 5.63%, resulting in a projected market volume of US$67.73m by 2029.
The largest segment in the Motorcycles market in Zimbabwe is On-road Motorcycles, with a projected market volume of US$28.01m in 2024.
Furthermore, the unit sales of Motorcycles market in Zimbabwe are expected to reach 28.54k motorcyles by 2029.
The volume weighted average price of Motorcycles market in the Motorcycles market in Zimbabwe in 2024 is expected to be US$2.38k.
In terms of market share, Honda Motorcycles is expected to dominate the selected region, with a motorcycle unit sales share of 25.7% in 2024.
Additionally, the value market share of Honda Motorcycles in Zimbabwe is projected to be 22.5% in 2024.
From an international perspective, it is evident that India will generate the highest revenue in the Motorcycles market, amounting to US$32.11bn in 2024.
The demand for motorcycles in Zimbabwe has been steadily increasing due to their affordability and practicality in navigating the country's challenging road conditions.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Motorcycles market in Zimbabwe has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Zimbabwe have shifted towards motorcycles as a mode of transportation due to their affordability, fuel efficiency, and versatility. Motorcycles are often seen as a cost-effective alternative to cars, especially in a country where many people cannot afford the high costs associated with car ownership. Additionally, motorcycles are well-suited for navigating the country's often poorly maintained road infrastructure, making them a practical choice for many Zimbabweans. Trends in the market have also contributed to the growth of the motorcycles market in Zimbabwe. There has been an increasing demand for motorcycles in the delivery and logistics sector, as businesses seek efficient and cost-effective ways to transport goods. Furthermore, the rise of ride-hailing services has created a new market for motorcycles as an alternative mode of transportation for passengers. This trend has been further fueled by the increasing popularity of motorcycle taxis, which provide a convenient and affordable way for people to travel short distances. Local special circumstances in Zimbabwe have also played a role in the development of the motorcycles market. The country has a large rural population, and motorcycles are often the most practical means of transportation in these areas. They allow people to travel long distances over rough terrain, reaching areas that are inaccessible by car. Additionally, the informal economy in Zimbabwe, which accounts for a significant portion of economic activity, has created a demand for motorcycles as a means of livelihood. Many individuals use motorcycles for small-scale transportation and delivery services, providing them with a source of income. Underlying macroeconomic factors have also contributed to the growth of the motorcycles market in Zimbabwe. The country has experienced periods of economic instability and high unemployment rates, which have led many people to seek alternative sources of income. Motorcycles provide a relatively low-cost entry point for entrepreneurship, allowing individuals to start their own businesses and generate income. Furthermore, the depreciation of the Zimbabwean dollar has made imported motorcycles more affordable, contributing to increased sales and market growth. In conclusion, the motorcycles market in Zimbabwe has been growing due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The affordability, fuel efficiency, and versatility of motorcycles have made them a popular choice for transportation in a country where car ownership is often out of reach for many people. The demand for motorcycles in the delivery and logistics sector, as well as the rise of ride-hailing services, has further fueled market growth. Local special circumstances, such as the country's rural population and the importance of the informal economy, have also contributed to the development of the motorcycles market. Finally, underlying macroeconomic factors, including economic instability and high unemployment rates, have created a demand for motorcycles as a means of income generation and entrepreneurship.

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.