The market size for motorcycles with spark ignition engines ranging from 50-250 cc in Senegal showed a consistent decline from 2013 to 2020, with the market value decreasing from $19.499 million in 2013 to $11.643 million in 2020. Despite a brief resurgence in 2021 and 2022, reaching values of $12.883 million and $13.104 million, respectively, the market experienced another dip in 2023 to $12.656 million. The year-on-year variation over the last two years reflected these fluctuations, with a 1.71% increase in 2022 followed by a 3.42% decline in 2023. The compound annual growth rate (CAGR) for the past five years averaged at -3.33%, indicating a steady, moderate decline.
Future trends to watch for:
- Potential impacts of economic recovery post-pandemic on consumer spending power and market demand.
- Technological advancements and shifts towards electric motorcycles, which could influence market dynamics.
- Government policies on importation tariffs, emission standards, and incentives for sustainable transportation.