The motorcycle parts market (excluding saddles) in South Africa has experienced a consistent decline in market size value from 2013 to 2023, ending with a value of $27.627 million in 2023. Over the last two years, the market has seen significant year-on-year declines of -8.19% in 2021, -10.45% in 2022, and -11.56% in 2023. The compound annual growth rate (CAGR) over the past five years has averaged at around -7.67%, reflecting a downward trend.
Forecast data from 2024 to 2028 suggest a sharp continuation of this declining trend, with an anticipated 5-year CAGR of -15.91% and an overall market contraction by nearly 58% over this period. By 2028, the market is projected to value at just $10.114 million.
Future trends to monitor include:
- Technological advancements and innovations in motorcycle parts
- Government regulations impacting the industry
- Economic factors influencing consumer spending
- Market shifts towards electric motorcycles and related parts
