AFRICA TWO-WHEELER MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The market for two-wheelers in Africa is predicted to grow from its current estimated value of USD 3.65 billion in 2021 to USD 5.07 billion by 2027, registering a CAGR of 6.96% over the forecast period (2022-2027). The COVID-19 caused a production standstill that hampered the two-wheeler market in Africa. The two-wheeler sector has been beset by a mix of supply and demand concerns because all of the countries in the region were on lockdown. However, as things have begun to return to normal, the demand for two-wheelers has grown. 

Two-wheelers are becoming a common form of transportation in both urban and rural regions due to a lack of public transportation facilities. In most of Africa, including Nigeria, Uganda, Kenya, and other Eastern African nations, motorcycle taxis are also referred to as Boda Bodas, and they significantly boost two-wheeler sales.

Sub-Saharan Africa's (SSA) population growth, urbanisation, and societal changes have increased and changed the transportation needs of both urban and rural people. Additionally, as a result of this, brand-new modes of transportation have evolved, including the motorbike taxi (or "moto-taxi"). Although moto-taxis have been used in some places for decades, their use has now spread to other rural and urban regions due to their recent surge in popularity.

In both urban and rural areas of Africa, motorbike taxis are increasingly employed to transport goods and passengers to inaccessible spots. Furthermore, the expansion of the two-wheeler market in Africa is being greatly aided by reasons like escalating need for public transportation, simple financing, and an infusion of low-cost imports from Indian producers. More than 45 percent of people live in urban settings throughout Africa. These numbers suggest that demand for two-wheelers in Africa will increase during the predicted period and that growth in the next years will be supported by these numbers.

The issue of traffic congestion has gotten severe in several African nations. African cities' travel times have recently increased rapidly, according to nations like Nigeria, Ghana, Tanzania, and others. Due to increasing traffic congestion, people in these nations have started turning to other modes of transportation to avoid it. Two-wheelers have been a common solution to Africa's worsening traffic problems. Demand is largely being driven by a number of benefits associated with two-wheelers, including their small size, simplicity of operation in difficult road and traffic conditions, and cost savings from low fuel use.

Some of the key players in the African two-wheeler market include TVS Motor Company Limited, Honda Motor Company Limited, Bajaj Auto Ltd., Hero MotoCorp Ltd., Suzuki Motor Corporation, Yamaha Motor Co., Ltd., Lifan Technology (Group) Co., Ltd., Honda Motor Company, Ltd., Sanyang Motor Co., Ltd., and Kwang Yang Motor Co., Ltd.

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