Africa’s motorcycle market to grow to $9 billion by 2021, report
Research and Markets has announced the addition of the "Africa Two-Wheeler Market By Vehicle Type (Motorcycle vs. Scooter), By Country including South Africa, Nigeria, Tanzania, Kenya, Algeria, Uganda, Egypt, Morocco, Angola and Ethiopia in the Competition Forecast & Opportunities, 2011-2021" report.
The two-wheeler market in Africa is projected to cross $9 billion by 2021. Motorcycle segment accounted for the lion's share in Africa two-wheeler market in 2015, and the same trend is anticipated to continue during forecast period.
Majority of the countries in Africa are registering huge demand for two-wheelers, owing to the lack of reliable public transportation system. Growing urbanization is another major reason driving demand for two-wheelers in Africa.
Consequently, leading global two-wheeler manufacturers, especially the ones based in India, are targeting various countries across the African continent. With more than 45% of the African population residing in urban areas in 2015, and the number expected to further increase in the coming years, demand for two-wheelers in the region is forecast to grow during 2016-2021.
In Africa, motorcycle taxis, which are locally known as Boda Boda, are playing a crucial role in driving the sales of two-wheelers. Motorcycle taxis are being used for carrying goods and passengers to distant places in a growing number of countries across Africa. Their ubiquitous presence in African countries is the result of several factors including an increasing demand for public transit, easy two-wheeler financing, and increasing influx of cheap imports from Indian manufacturers.
Major factors leading to an increasing number of consumers opting for motorcycles in Africa include quicker acceleration, larger fuel tank, higher engine capacity, larger wheel base and easy maintenance. South Africa, Nigeria and Tanzania are the largest two-wheeler markets in Africa, followed by Kenya, Algeria, Uganda, Egypt, Morocco, Angola and Ethiopia.
For more information about this report visit http://www.researchandmarkets.com/research/znlkf3/africa
