Africa Two-Wheeler Market to Cross $ 9 Billion by 2021: TechSci Research Study
NEW YORK, September 5, 2016 /PRNewswire/ --
Booming Motorcycle Taxi Business, Lack of Reliable Public Transportation System and Increasing Population to Drive Sales of Two-wheelers in Africa
According to TechSci Research report, "Africa Two-Wheeler Market By Vehicle Type, By Country, Competition Forecast & Opportunities, 2011 - 2021", the two-wheeler market in Africa is forecast to cross US$ 9 billion by 2021. South Africa, Nigeria and Tanzania are the largest two-wheeler markets in Africa, followed by Kenya, Algeria, Uganda, Egypt, Morocco, Angola and Ethiopia. According to the World Bank, the population of Africa is forecast to reach 2.8 billion by 2060. As the population of the continent continues to grow at an alarming rate, governments and other stakeholders are coming under pressure to develop and strengthen transport networks. Public transportation system in African countries is still inadequate and poorly developed, and consequently, two-wheelers are becoming a key medium for transportation in urban as well as rural settlements.
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Browse 23 market data Tables and 96 Figures spread through 270 Pages and an in-depth TOC on
"Africa Two-Wheeler Market"
In Africa, two-wheelers offer an affordable mode of transportation. Workers as well as travellers, who earlier used to prefer other modes of transportation, are increasingly switching to two-wheelers, to avoid the frantic traffic in the cities across major African countries. Moreover, rising fuel prices is also driving demand for two-wheelers in the continent due to their higher fuel efficiency. Furthermore, as driving license is not mandatory for driving gearless two-wheelers in majority of the African countries, tourists visiting the continent usually opt for two-wheelers for transportation purpose.
On the basis of vehicle type, the two-wheeler market in Africa has been segmented into two categories, namely, motorcycle and scooter. Among these categories, motorcycle segment dominated the continent's two-wheeler market in 2015, owing to various associated advantages such as quicker acceleration, better engine capacity, large fuel tank, larger wheel base and easy maintenance. Moreover, booming motorcycle taxis business in African countries is further augmenting demand for motorcycles in the continent. Backed by rapid urbanization, growing population and inadequate means of transportation, the segment is anticipated to maintain its dominance over the next five years as well.
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"In Africa, South Africa was the major demand generator of two-wheelers in 2015. Growing per capita income, increasing employment opportunities, developing infrastructure and vast reserves of natural resources are driving the country's economic growth. According to the Association of Motorcycle Importers and Distributors, the country registers huge demand for premium motorcycle with an engine capacity of more than 500cc, and the same trend is expected to continue over the next five years as well. As these high-end motorcycles are comparatively costlier than other motorcycles with low engine capacities, the two-wheeler market of South Africa is expected to grow at a healthy pace in value terms over the next five years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Africa Two-Wheeler Market By Vehicle Type, By Country, Competition Forecast & Opportunities, 2011 - 2021" has evaluated the future growth potential of two-wheeler market in Africa and provides statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in the Africa two-wheeler market.
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