Two-Wheeler Market Size and Share in Africa: Top Trends and Industry Growth Rate by 2028 - TechSci Research
Introduction
The "Africa Two-Wheeler Market - By Country, Competition, Forecast & Opportunities, 2018-2028," a report by TechSci Research, delves into the dynamic landscape of Africa's two-wheeler market. In this document, we explore the multifaceted factors driving this thriving market and the diverse opportunities it presents to both local and global players.
Riding the Wave of Urbanization and Rising Incomes
Africa's two-wheeler market is on a rapid ascent, buoyed by the forces of urbanization, increasing disposable incomes, and the critical need for affordable transportation. Motorcycles, known for their cost-effectiveness and remarkable fuel efficiency, reign supreme in Africa. They serve a dual purpose, catering to both personal and commercial needs. Although the market is characterized by fragmentation, with numerous small players and local manufacturers, recent years have witnessed the entry of global giants such as Bajaj, Yamaha, and TVS, making substantial inroads into several African countries.
A Shift Towards Sustainability
In tandem with the growing demand for personal mobility, the African two-wheeler market is experiencing a shift towards sustainability. Electric bikes and scooters are gaining traction as governments and consumers seek to mitigate carbon emissions and reduce fuel costs. However, the relatively high initial cost of electric vehicles remains a formidable barrier to widespread adoption.
A Continent of Opportunities
The African two-wheeler market is a testament to the continent's potential for growth. With urbanization steadily increasing and the middle class expanding, Africa offers fertile ground for local and global players alike. As the need for affordable and efficient transportation intensifies, the two-wheeler market in Africa stands as one of the fastest-growing markets in the world, presenting abundant opportunities for companies to address the burgeoning demand for cost-effective mobility.
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Key Drivers of Growth
Africa boasts a population of over 1.3 billion people, a significant portion of which comprises young individuals. This demographic composition fuels a substantial demand for transportation options that are both affordable and efficient, precisely what two-wheelers deliver.
The continent is witnessing rapid urbanization, with more individuals migrating to urban centers in pursuit of economic prospects. This urban influx leads to an increased need for personal mobility solutions, particularly in congested urban areas, where two-wheelers offer unmatched maneuverability.
As Africa's economic development continues, a growing number of people can now afford personal transportation. Two-wheelers present an attractive choice, given their affordability compared to cars, making them a preferred option for budget-conscious consumers.
Governments in Africa are actively investing in infrastructure development, including road construction and improvements. This infrastructural enhancement facilitates easy travel via two-wheelers and bolsters the popularity of these vehicles.
Challenges in the Landscape
The growth of the African two-wheeler market, while promising, is not without its challenges. Factors such as inadequate infrastructure, limited financing options, and regulatory gaps pose hurdles to sustained progress.
Segmentation of the African Two-Wheeler Market
The African Two-Wheeler Market can be classified into several categories for a more nuanced understanding:
Some of the major companies operating in the Global Two-wheeler Market include:
·???????? Bajaj Auto Ltd.
·???????? TVS Motor Company Limited
·???????? Yamaha Motor Co., Ltd.
·???????? Hero MotoCorp Ltd.
·???????? Honda Motor Co, Ltd.
·???????? Kwang Yang Motor Co., Ltd.
·???????? Suzuki Motor Corporation
·???????? Sanyang Motor Co., Ltd.
·???????? Lifan Motors
·???????? Luoyang Northern Ek Chor Motorcycle Co., Ltd.
These are the key companies that manufacturing and introducing new products to remain competitive in the market. To maintain their competitiveness in the market, companies are investing in R&D operations to expand their client base. These businesses are also concentrating on adhering to regional government rules to maintain their competitiveness in the global market as many new startups are releasing two-wheelers and challenging the industry's established competitors.
Unlocking New Avenues
In January 2022, TVS Motor Company made waves with the launch of its motorcycle, the TVS Star HLX 150 Disc Variant, in Egypt. This strategic move was aimed at providing an enticing personal mobility option for Egyptian commuters in both rural and urban areas. The TVS Star HLX 150 cc Disc variant, a new addition to the Egyptian two-wheeler portfolio, brings forth a blend of high durability, comfort, and attractive features. This initiative underscores the commitment of global players to cater to the unique demands of African consumers and expand their footprint.
A Star-Studded Arrival in Kenya
In May 2022, TVS Motor Company introduced the limited edition TVS HLX 125 Gold and TVS HLX 150 Gold models in Kenya. These limited edition models were a celebratory gesture, marking the global sales milestone of over two million units of the TVS HLX series. What sets these models apart are their first-in-segment features, such as the Smart Lock—an anti-theft security feature employing key-FOB technology to enhance the safety and security of the vehicle. Moreover, these models showcase stylish graphics inspired by Kenyan culture on the fuel tank and side cover, demonstrating the infusion of local elements into the design.
E-Mobility Revolution
The African continent is witnessing a notable surge in e-mobility, both in the public and private sectors. The driving forces behind this surge encompass concerns related to health and the environment, as well as the desire to reduce dependence on oil imports. From boda-bodas to motorcycle taxis, e-mobility has become a burgeoning field within the region, with electric motorcycles and mobility scooters gaining remarkable traction.
Paving the Way for Electric Bikes
Some view motorbikes as the catalyst that could propel Africa into the e-mobility era. Governments in the region are crafting new regulations to promote e-bikes. Notably, e-bikes capable of speeds exceeding 45km/h may require a license to operate, aligning them with motorbikes in terms of regulatory requirements.
South Africa's Green Transport Blueprint
South Africa has laid the groundwork for greener transport, as evidenced by the launch of the Green Transport Plan in 2018. This plan stands as a pivotal pillar in the country's endeavors to decarbonize the transportation sector. However, it primarily focuses on passenger cars, lacking dedicated policies for motorcycles. Consequently, there are no direct incentives for electric bikes and motorcycles in South Africa.
The Rise of E-Bikes in South Africa
In South Africa, e-bikes have become a hot commodity among riders, offering a dual-purpose solution as fitness and commuter machines. Their demand continues to soar, even in the absence of targeted incentives, indicating the growing popularity of electric mobility.
The uYilo eMobility Programme
To foster the adoption of electric vehicle mobility in South Africa, the Technology Innovation Agency introduced the national uYilo eMobility Programme. This multi-stakeholder initiative engages in various activities, including government advocacy, industry participation, pilot projects, capacity building, enterprise development, and thought leadership. These efforts are expected to be instrumental in driving electric mobility within South Africa, filling a gap left by existing policies.
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“The increasing demand of two wheeler in the Africa market is also because of the rise in the adoption of two wheelers in ecommerce and delivery services and the increasing penetration of the global players in the market is also leading to the market expansion. During the forecast period, the market is expected to generate new opportunity and is also expected to witness rise in demand.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Africa Two-wheeler Market - Global Industry Size, Share, Trends, Competition, Forecast and Opportunities, 2018-2028”?has evaluated the future growth potential of Africa Two-wheeler Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Africa Two-wheeler Market.?
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Top Selling Bikes in Africa
When it comes to the African two-wheeler market, certain motorcycles have carved out a niche as top sellers, reflecting the unique preferences and demands of the region.
1. Bajaj Boxer: The Undisputed Champion
Bajaj Boxer, with its primary market in Africa, reigns as the top-selling motorcycle in its class. This iconic motorcycle represents around 40% of Bajaj's overall two-wheeler sales. Impressively, Bajaj Auto boasts the presence of five motorcycle brands within the top 10 list of the most exported two-wheelers. The Boxer's robust presence in Africa highlights its reliability and popularity among African riders.
2. TVS Star City: A Rapid Ascent
TVS Star City secures the second spot in the African market, registering remarkable exports of 23,883 units in January 2020. What's even more impressive is the exponential growth it achieved. Comparing to 13,144 units exported in January of the previous year, TVS Star City boasts a massive YoY growth of 81.70%. This exceptional growth is a testament to the brand's rising popularity in the African market.
3. TVS Star City 125: A Companion in Growth
Continuing TVS's success, the 125cc variant of TVS Star City emerges as another strong contender. With exports of 17,249 units in January 2020, it witnesses significant YoY growth of 59.24%, compared to 10,832 units exported in the same month the previous year. The TVS Star City 125 has carved its niche as a reliable and popular choice among African riders.
4. Bajaj Boxer 150: Expanding the Legacy
Bajaj Boxer, in its 150cc avatar, secures the fourth position in the African market. A total of 15,540 units were exported in January 2020, translating into impressive YoY growth of 81.29%. In January of the previous year, Bajaj Boxer 150 had exported 8,572 units. This expansion of the Boxer legacy showcases its appeal across different variants in Africa.
5. Bajaj Pulsar: A Name of Excellence
The Bajaj Pulsar range, including Pulsar 160, 180, and 200, captures the fifth spot in the list of top sellers. A total of 11,940 units were exported, marking a growth of 31.47% YoY when compared to 9,082 units exported in January the previous year. Bajaj Pulsar's presence among both domestic and export bestsellers highlights its exceptional performance and appeal.
6. Bajaj CT 125: A Reliable Choice
At the sixth position is the Bajaj CT 125, with exports of 11,472 units in January 2020. This translates into YoY growth of 35.03%, compared to 8,496 units exported in January the previous year. The CT 125's growth signifies its reliability and resonance among African riders.
7. Honda Dio: Zooming Ahead
Honda Dio secures the seventh position, with 10,152 units exported in January 2020. The YoY growth is an impressive 64.75% when compared to 6,162 units exported the previous January. The Dio's agility and appeal make it a preferred choice among African riders.
8. Bajaj CT 100: A Dip in the Journey
Bajaj CT 100, although at the eighth spot, has seen a decline with exports of 9,164 units, showcasing negative growth of -56.33%. In January of the previous year, it had exported 20,986 units. This dip is an exception among the top sellers and points to the ever-evolving dynamics of the African market.
9. Suzuki Gixxer 155: A Rising Star
Suzuki Gixxer 155 and Yamaha FZ 150 secure the ninth and tenth positions, with sales of 6,898 units and 6,316 units, respectively. These two bikes have more than doubled their numbers in just a year's time. Their impressive growth reflects their growing appeal among African riders.
While some two-wheelers witness negative growth in the African market, the top sellers prove that the right combination of features, affordability, and reliability can make a significant impact, resonating with African riders' unique preferences and demands.
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