The South African motorcycle market has experienced a significant decline from 2013 to 2023, dropping from a value of 535.16 million USD in 2013 to 171.72 million USD in 2023. Notable year-on-year variations include declines of -14.72% in 2022 and -17.09% in 2023, with a continuing negative compound annual growth rate (CAGR) of -11.51% over the last five years. Future projections show even steeper declines, with the market expected to fall to nearly 0 by 2028, reflecting a forecasted five-year CAGR of -82.41%.
Future trends to watch for include:
- Potential impacts of electric motorcycle adoption
- Socio-economic factors influencing consumer spending power
- Legislative changes and environmental regulations
- Technological advancements and innovations in the sector
