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Africa Two-Wheeler Market to Surpass USD2793 Million by 2026
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Increasing traffic congestion and relative lower cost of ownership of two-wheeler to drive the demand for Africa Two-wheeler market for the forecast period.
According to TechSci Research report, “Africa Two-Wheeler Market - By Country, By Company, Forecast & Opportunities, 2026”, Africa two-wheeler market was valued over USD2020 million in 2020 and is forecast to grow at a CAGR of 4.72% to reach USD2793 million by 2026. Due to low cost of ownership, two-wheeler is the first choice for daily commute in the country. Poor public infrastructure and road congestion are some of the factors that are driving the growth of the Africa two-wheeler market through 2026.
The demand for motorcycle taxis, also known as “boda-boda” in African countries like Tanzania, Kenya, Uganda, etc., have witnessed major growth in the past decade. The number of registered motorcycles in Tanzania have witnessed huge growth from 2000 registered motorcycles in 2003 to around 1.52 million registered motorcycles in 2020. After restriction on importing motorbikes were lifted, motorbike taxis have created over 500,000 jobs for young men. In Uganda, the motorbike taxi business has expanded so much that it may now be the second-largest source of employment after agriculture. Around 7% of Uganda’s population depends on the motorcycle taxi industry. Motorcycle taxis contribute to more than 75% of annual passenger transport and small freight on rural roads in Ghana. The growing demand for motorcycle taxis in the region is anticipated to drive the sales of two-wheelers in the forecast years.
One of the main factors driving the two-wheeler market in Africa is the high replacement ratio of two-wheelers, owing to the below-par road conditions of the region. The average life of two-wheelers across the region struggles to increase even when the two-wheeler manufacturers are increasingly introducing technological advancements to improve the vehicle life. As most of the population in Africa prefers to travel by two-wheelers for daily commuting, the higher replacement rate of two-wheelers in the region results in increased demand for two-wheelers. Such consumption is expected to increase the mechanization and productivity of industry, further boosting the sales of two-wheelers in the region.
Browse 68 market Figures and 21 table spread through 155 Pages and an in-depth TOC on "Africa Two-wheeler Market”.
Africa two-wheeler market is segmented into vehicle type, engine capacity, and company. On the basis of vehicle type, the market is segmented into motorcycle, scooters and mopeds. The demand for motorcycles has increased significantly in the past few years in Africa. The motorcycle segment accounted for 84.49% market share in 2020. There is a growing demand for motorcycles in Africa, owing to growing youth population and rising usage of motorcycle taxis. The motorcycle brands like Bajaj, TVS, Honda, etc., are quite popular. The growing popularity of motorcycles among the consumers of Africa is anticipated to increase the sales of two-wheelers in Africa in the forecast years.
Leading players operating in the Africa two-wheeler market include:
- TVS Motor Company Limited
- Bajaj Auto Ltd.
- Honda Motor Company Limited
- Hero MotoCorp Ltd.
- Suzuki Motor Corporation
- Yamaha Motor Co., Ltd.
- Lifan Technology (Group) Co., Ltd.
- Luoyang Northern EK Chor Motorcycle Co., Ltd
- Sanyang Motor Co., Ltd.
- Kwang Yang Motor Co., Ltd.
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“Egypt holds the major share in the Africa two-wheeler market with a 23.99% market share in terms of volume in 2020. The country also accounts for the largest two-wheeler fleet in the region. Egypt comprises of the most happening cities of Africa like Cairo. Egypt is among the economic as well as the cultural hubs of Africa, accounting for majority of commercial services as well as industrial activities in the region. The country leads over the other countries in the Africa region in terms of population density, industries, ports, etc.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Africa Two-Wheeler Market By Vehicle Type (Motorcycle, Scooter & Moped), By Engine Capacity (Up to 125cc, 126-250cc, 251-500cc, Above 500cc), By Region, Forecast & Opportunities, 2016- 2026” has evaluated the future growth potential of Africa Two-wheeler market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Africa two-wheeler market.
Mr. Ken Mathews
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