Two-Wheeler Market to Grow with a CAGR of 3.79% in Angola through to 2028
The primary driver for the Angola
Two-Wheeler Market is economic affordability, as these vehicles provide a
cost-effective transportation solution. Additionally, the growing issue of
traffic congestion in major urban areas further fuels the demand for
two-wheelers, offering a practical means of navigating congested roadways and
providing an efficient mobility option.
According to TechSci Research report, “Angola Two-Wheeler
Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Angola Two-Wheeler Market stood at USD 440 Million
in 2022 and is anticipated to grow with a CAGR of 3.79% in the forecast period,
2024-2028. The Angola Two-Wheeler Market is experiencing significant and robust
growth, driven by a myriad of factors. Firstly, the increasing population in
the region has led to a higher demand for personal transportation options, as
more people seek convenient and efficient means of getting around. Moreover,
the improving economic conditions and rising urbanization have created a need
for not only convenient but also affordable modes of travel, making
two-wheelers an attractive choice for many.
Furthermore, the poor condition of public
transportation systems in Angola has further fueled the demand for two-wheelers
as a reliable and accessible means of transportation. With limited options for
public transportation, individuals are turning to two-wheelers as a practical
and efficient way to navigate the bustling streets of Angola's cities.
Additionally, the expanding middle-class population in the country is
increasingly seeking affordable personal transport solutions that provide
flexibility and independence, further contributing to the market's growth.
Notably, the market has also witnessed a surge in the
availability of affordable imported two-wheelers, presenting consumers with a
wider range of options to choose from. This increased availability has not only
expanded consumers' choices but has also introduced newer and more advanced
features, such as improved fuel efficiency and enhanced safety measures,
further stimulating the demand for two-wheelers in Angola.
Moreover, the government's initiatives to promote and
support the use of two-wheelers as a sustainable and eco-friendly
transportation option have also played a significant role in the market's
growth. The implementation of policies to reduce traffic congestion and carbon
emissions has encouraged individuals to opt for two-wheelers as an alternative
mode of transport, leading to increased sales and market expansion.
Overall, the combination of these factors has
propelled the growth of the Angola Two-Wheeler Market, making it a dynamic,
promising, and increasingly competitive industry in the region. As more
individuals recognize the benefits and convenience of two-wheelers, the market
is expected to continue flourishing and evolving to meet the evolving needs of
the Angolan population. With continuous advancements in technology and the
introduction of innovative features, the future of the Angola Two-Wheeler
Market looks bright, promising a seamless and enjoyable riding experience for
consumers.
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Two-Wheeler Market”
The two-wheeler market in Angola has been experiencing
significant growth in recent years. This burgeoning sector is largely due to
the rising population, expanding urbanisation, and the growing middle-class
segment, who are seeking cost-effective and efficient modes of transportation.
Motorcycles and scooters are particularly popular due
to their affordability and convenience in navigating through traffic in
congested city areas. In contrast to cars, two-wheelers offer lower maintenance
and operational costs, which further incentivises their purchase among the
Angolan population.
The market is broad and diverse, with a wide range of
two-wheeler models available from different international manufacturers. These
brands cater to varying preferences, from high-performance motorcycles for the
enthusiasts to the more budget-friendly, fuel-efficient scooters for daily
commuters.
However, the market is not without its challenges. One
of the most significant barriers to growth is the lack of a robust regulatory
framework for two-wheelers. Currently, there are few laws governing safety
standards or emissions, which poses potential risks to consumers and the
environment.
Moreover, poor road infrastructure in some regions of
Angola poses another obstacle for two-wheeler usage. Highways and roads in
urban areas are often congested, while rural roads are frequently in poor
condition, making two-wheeler travel difficult and sometimes hazardous.
Another challenge is the lack of formal financing
options for consumers. Despite the cost-effectiveness of two-wheelers, many
people in Angola still find it difficult to afford them, and the absence of
affordable financing options exacerbates this issue.
Despite these challenges, the future of the
two-wheeler market in Angola looks promising. The government has begun taking
steps to improve road infrastructure and establish a robust regulatory
framework for two-wheelers. These advancements, combined with the country's
economic growth, are expected to propel the market forward.
The increasing focus on eco-friendly solutions is also
anticipated to reshape the two-wheeler market in Angola. Electric two-wheelers,
in particular, are projected to gain substantial market share in the coming
years, driven by the global shift towards green transportation.
In conclusion, the Angolan two-wheeler market, despite
its challenges, presents significant opportunities for growth and development.
As the country continues to urbanise and the middle-class segment expands, the
demand for two-wheelers is expected to rise even further, offering substantial
prospects for both local and international manufacturers.
Major companies operating in Angola Two-Wheeler Market
are:
- Honda Motor Co., Ltd.
- Hero MotoCorp Ltd.
- TVS Motor Company Ltd.
- Bajaj Auto Ltd.
- Yamaha Motor Co., Ltd.
- Suzuki Motor Corporation
- Piaggio & C. SpA
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“The key drivers propelling the Angola Two-Wheeler
Market include factors like the increasing population, improving economic
conditions, and the rising urbanization. Additionally, the poor condition of
public transportation in the region and the growing demand for affordable
personal transport due to the country's expanding middle-class population are
also major contributors. The influx of affordable imported two-wheelers in the
market has also stimulated demand.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Angola Two-Wheeler Market – Angola
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented Market By Vehicle Type
(Scooter/Moped, Motorcycle), By Propulsion Type (ICE and Electric), By Region, Competition”, has evaluated the future growth potential of ANGOLA
Two-Wheeler Market and provides statistics & information on market size,
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 Angola Two-Wheeler Market.
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