Off-road Motorcycles - South Africa

South Africa

The Off-road Motorcycles market segment in South Africa is projected to experience a significant increase in revenue, reaching €8.18m in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 3.45%, resulting in a projected market volume of €9.69m by 2029.
By 2029, it is estimated that unit sales in the Off-road Motorcycles market segment will reach 2.78k motorcyles.
This indicates a strong demand for these vehicles in South Afri In 2024, the volume weighted average price of Off-road Motorcycles market in the South African market is projected to be €3.45k.
This metric provides insight into the pricing dynamics of the segment, highlighting the market's willingness to pay for these vehicles.
Looking at the international landscape, it is evident that Brazil will generate the highest revenue in the Off-road Motorcycles market segment, amounting to €1,251.00m in 2024.
This showcases the robustness of the Brazilian market in this particular segment.
Sales of off-road motorcycles in South Africa are booming, with the country's diverse terrain and passion for adventure driving demand.

Key regions: Germany, Italy, United States, Portugal, Spain

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Off-road Motorcycles market in South Africa has been experiencing steady growth in recent years, driven by customer preferences for adventure sports and outdoor activities.

Customer preferences: In South Africa, there is a growing interest in adventure sports and outdoor activities, which has contributed to the increasing demand for off-road motorcycles. Many individuals are seeking thrilling experiences and are drawn to the excitement and adrenaline rush that off-road riding offers. Additionally, off-road motorcycles provide an opportunity for exploration and allow riders to access remote and rugged terrains that are not easily accessible by other means of transportation.

Trends in the market: One of the key trends in the off-road motorcycles market in South Africa is the rising popularity of off-road racing events and competitions. These events attract a large number of participants and spectators, further fueling the demand for off-road motorcycles. Additionally, there is a growing trend of customization and modification among off-road motorcycle enthusiasts, who seek to personalize their bikes to suit their individual preferences and riding styles. This has created a niche market for aftermarket parts and accessories.

Local special circumstances: South Africa's diverse landscape and natural beauty make it an ideal destination for off-road motorcycle enthusiasts. The country offers a wide range of terrains, including mountains, forests, deserts, and coastal areas, providing ample opportunities for off-road riding. Furthermore, South Africa has a well-developed network of off-road trails and tracks, making it convenient for riders to explore different areas. The country also hosts various off-road events and competitions, attracting both local and international participants.

Underlying macroeconomic factors: The growth of the off-road motorcycles market in South Africa can also be attributed to several underlying macroeconomic factors. The country has seen an increase in disposable income and a growing middle class, which has led to higher purchasing power and increased consumer spending on recreational activities. Additionally, the tourism industry in South Africa has been thriving, with a significant number of tourists visiting the country for adventure tourism and outdoor activities. This has created a demand for off-road motorcycles as tourists seek to explore the country's natural attractions. In conclusion, the Off-road Motorcycles market in South Africa is developing due to customer preferences for adventure sports and outdoor activities, the rising popularity of off-road racing events, the country's diverse landscape and well-developed network of off-road trails, and underlying macroeconomic factors such as increased disposable income and a thriving tourism industry.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.

Additional Notes:

The market is updated once a year.