Dublin, Nov. 09, 2022 (GLOBE NEWSWIRE) -- The "Africa Two-Wheeler Market, By Vehicle Type (Motorcycle, Scooter & Moped), By Engine Capacity (Up to 125cc, 126-250cc, 251-500cc, Above 500cc), By Region, Competition Forecast & Opportunities, 2016- 2026" report has been added to ResearchAndMarkets.com's offering.
The African Two-wheeler Market stood at USD2020.98 million in 2020 and is anticipated to grow with a CAGR of 4.72% in the forecast period, 2022-2026, to reach USD2793.65 million by 2026F.
The automotive industry is expanding in the African region and is thus supporting market growth. Major factors like increasing demand for two-wheelers for daily commutes and growing issues of road congestion and traffic are driving the African Two-wheeler Market's growth in the upcoming five years.
Affordability, easier purchases, lower maintenance cost as compared to four-wheelers, and advantages over more economical fueling further supports the growth of the African Two-wheeler Market in the next five years. The region accommodates most of the developing countries.
Due to the lower economy, consumer preferences toward affordable and easy maintenance vehicles sustain and further drives the market growth. Lack of public transportation systems in these developing countries has aided the rapidly growing demands for motorcycle taxis, thus supporting the growing demands for two-wheelers for the same purpose.
Moreover, manufacturing units of the global giants profit well from cheap labor, easier raw material availability, etc., which further substantiates the futuristic growth of the African Two-wheeler Market in future five years. The two-wheeler motorcycles have dynamic engines, and in combination with their low weight, these are suited for higher acceleration than many other vehicles.
Two-wheelers without gear, or scooters, as they are particularly known for, make the vehicles light and efficient. Gearless two-wheelers are also easy to ride for all ages of people. These specific advantages of owning two-wheelers also aid to the growing demand and thus the growth of the African Two-wheeler Market.
Growing technological advancements, eco-friendly options, and electric vehicles are some of the other factors further driving the growth of the African Two-wheeler Market in the forecast years through 2026.
The motorcycle sub-segment is anticipated to hold the largest revenue shares of the market in the upcoming five years on account of its capacity to carry more fuel and thus has higher efficiency compared to other types.
Moreover, the two-wheeler industry is expanding on the basis of increasing technological advancement such that they provide better maneuverability in the rugged road conditions and thus substantiates the growth of the African Two-wheeler Market in the next five years.
Leading companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Objective of the Study:
- To analyze and estimate the market size of the African Two-wheeler Market from 2016 to 2020.
- To estimate and forecast the market size of the African Two-wheeler Market from 2020 to 2021 and growth rate until 2026.
- To classify and forecast the African Two-wheeler Market based on vehicle type, engine capacity, country analysis, and competitional landscape.
- To identify dominant region or segment in the African Two-wheeler Market.
- To identify drivers and challenges for the African Two-wheeler Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the African Two-wheeler Market.
- To identify and analyze the profile of leading players operating in the African Two-wheeler Market.
- To identify key sustainable strategies adopted by the market players in the African Two-wheeler Market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the African Two-wheeler Market.
- 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.
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Africa Two-Wheeler Market, By Vehicle Type
- Motorcycle
- Scooter & Moped
Africa Two-Wheeler Market, By Engine Capacity
- Up to 125cc
- 126-250cc
- 251-500cc
- above 500cc
Africa Two-Wheeler Market, By Country
- Egypt
- Nigeria
- Kenya
- Tanzania
- Morocco
- Uganda
- Algeria
- Angola
- South Africa
- Ethiopia
- Rest of Africa
For more information about this report visit https://www.researchandmarkets.com/r/yb17hd
Attachment
