Africa Two-Wheeler Market is Growing as Nigeria, Kenya, and Egypt have Witnessed Rise in Demand of Two-Wheelers
The rapid urbanization in the region and the rise in the adoption
of two wheelers in e-commerce services is expected to drive the market in the
forecast years.
According
to TechSci Research report, “Africa Two-wheeler
Market - By Country, Competition, Forecast & Opportunities, 2018-2028” Africa Two-wheeler Market is rapidly driven by
increasing urbanization, rising incomes, and the need for affordable
transportation. Motorcycles are the most popular type of two-wheeler in Africa owing
to their affordability and fuel efficiency and are used for both personal and
commercial purposes. The market is highly fragmented, with a large number of
small players and local manufacturers. However, in recent years, global players
such as Bajaj, Yamaha, and TVS have entered the market and are gaining a
foothold in several countries. In addition to motorcycles, electric bikes and
scooters are gaining popularity in some African countries as governments and
consumers seek to reduce carbon emissions and fuel costs. However, the high
cost of these vehicles remains a significant barrier to widespread adoption. Overall,
the two-wheeler market in Africa presents significant growth opportunities for
both local and global players, as the continent continues to urbanize, and its
middle class expands. The two-wheeler market in Africa is one of the
fastest-growing markets in the world, driven by a rising demand for affordable
and efficient transportation. The market is mainly dominated by motorcycles and
scooters, with a smaller segment for electric bicycles. Overall, the Africa
two-wheeler market presents a significant opportunity for companies to tap into
the growing demand for affordable transportation in the continent.
With
a population of over 1.3 billion people, Africa has a large and growing
population, many of whom are young people. This creates a significant demand
for affordable and efficient transportation options, which two-wheelers can
provide. The region is experiencing rapid urbanization, with more people moving
to cities and towns in search of economic opportunities. This has led to
increased demand for personal mobility solutions, especially in congested urban
areas where two-wheelers can navigate through traffic easily. As Africa
continues to develop economically, more people can afford personal
transportation. Two-wheelers are often more affordable than cars, making them a
popular choice for people on a budget. Similarly, governments in Africa are
investing in infrastructure development, including building new roads and
improving existing ones. This has made it easier for people to travel by two-wheelers
and increased the popularity of these vehicles. Overall, the market is expected
to witness an impressive growth rate. The African two-wheeler market is
expected to continue its growth trajectory in the coming years, driven by
factors such as a growing young population, rising disposable income,
increasing urbanization, and inadequate public transportation systems. However,
the market also faces challenges such as poor infrastructure, lack of financing
options, and insufficient regulations.
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The Africa Two-wheeler
Market can be segmented based on vehicle type, by capacity, by end use, and by
company. Based on vehicle type, the market is further segmented into scooter/moped
and motorcycle. Based on capacity, the market is segmented into up to 125cc,
126-250cc, 250-500cc, above 500cc
and electric. Based on end use, the market is segmented into individual and institutional.
Some of the major companies operating in the Global
Two-wheeler
Market include:
·
Bajaj Auto Ltd.
·
TVS Motor Company Limited
·
Yamaha Motor Co., Ltd.
·
Hero MotoCorp Ltd.
·
Honda Motor Co, Ltd.
·
Kwang Yang Motor Co., Ltd.
·
Suzuki Motor Corporation
·
Sanyang Motor Co., Ltd.
·
Lifan Motors
·
Luoyang Northern Ek Chor Motorcycle Co., Ltd.
These are the key companies that manufacturing
and introducing new products to remain competitive in the market. To maintain
their competitiveness in the market, companies are investing in R&D
operations to expand their client base. These businesses are also concentrating
on adhering to regional government rules to maintain their competitiveness in
the global market as many new startups are releasing two-wheelers and
challenging the industry's established competitors.
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“The
increasing demand of two wheeler in the Africa market is also because of the
rise in the adoption of two wheelers in ecommerce and delivery services and the
increasing penetration of the global players in the market is also leading to
the market expansion. During the forecast period, the market is expected to
generate new opportunity and is also expected to witness rise in demand.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Africa Two-wheeler Market - Global Industry Size,
Share, Trends, Competition, Forecast and Opportunities, 2018-2028” has
evaluated the future growth potential of Africa 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 the Africa Two-wheeler Market.
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