Scooters - Africa

Africa

In Africa, the Scooters market is expected to generate a projected revenue of US$0.93bn by 2024.
This revenue is projected to experience an annual growth rate (CAGR 2024-2028) of 3.57%, resulting in a projected market volume of US$1.07bn by 2028.
The unit sales in the Scooters market in Africa are also expected to reach 0.88m motorcyles by 2028.
Furthermore, in 2024, the volume weighted average price of Scooters market in Africa is expected to be US$1.15k.
When looking at the international perspective, it is evident that in India will generate the most revenue in the Scooters market, with a projected revenue of US$9,782.00m in 2024.
In Africa, the market for scooters is rapidly growing as urban populations seek affordable and efficient transportation solutions.

Key regions: Brazil, Portugal, Indonesia, United States, Italy

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Analyst Opinion

The Scooters market in Africa has been experiencing significant growth in recent years.

Customer preferences: Customers in Africa are increasingly opting for scooters as a mode of transportation due to their affordability, fuel efficiency, and ease of maneuverability in congested urban areas. Scooters are also seen as a trendy and fashionable mode of transportation, particularly among the younger generation. Additionally, the increasing availability of electric scooters in the market is attracting environmentally conscious customers.

Trends in the market: One of the key trends in the Scooters market in Africa is the growing demand for electric scooters. With a rising awareness of environmental issues and a desire to reduce carbon emissions, customers are increasingly choosing electric scooters over traditional gasoline-powered ones. This trend is expected to continue as the infrastructure for electric vehicle charging stations improves across the region. Another trend in the market is the emergence of ride-sharing services that specifically cater to scooters. Similar to popular ride-sharing platforms for cars, these services allow customers to rent scooters on a short-term basis, providing them with a convenient and cost-effective transportation option. This trend is particularly prevalent in urban areas where traffic congestion is a major issue.

Local special circumstances: One of the factors driving the growth of the Scooters market in Africa is the rapid urbanization and population growth in many countries across the continent. As more people move to cities, the demand for affordable and efficient transportation options increases. Scooters provide a practical solution for navigating through congested urban areas where public transportation may be limited or unreliable. Furthermore, the relatively low cost of scooters compared to cars makes them an attractive option for many African consumers who are price-sensitive. Scooters are not only cheaper to purchase but also have lower maintenance and fuel costs, making them more affordable for a larger segment of the population.

Underlying macroeconomic factors: The Scooters market in Africa is also influenced by macroeconomic factors such as income levels and economic stability. As economies in Africa continue to grow, disposable incomes are increasing, enabling more people to afford scooters. Additionally, political stability and favorable government policies can create a conducive environment for the growth of the market. In conclusion, the Scooters market in Africa is experiencing growth due to customer preferences for affordable and fuel-efficient transportation options, the emergence of electric scooters, the rise of ride-sharing services, rapid urbanization, and favorable macroeconomic factors. As these trends continue to shape the market, the demand for scooters is expected to further increase in the coming years.

Methodology

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.