iBet uBet web content aggregator. Adding the entire web to your favor.

Scooters - Worldwide

Worldwide

Highlights

In 2024, the revenue in the Scooters market is projected to reach a staggering US$35.87bn.
This market segment is expected to show a promising annual growth rate of 4.25% from 2024 to 2029, resulting in a projected market volume of US$44.16bn by 2029.
As for unit sales, it is anticipated that Scooters market will reach 23.96m motorcyles in 2029.
Taking a closer look at the pricing, the volume weighted average price of the Scooters market in 2024 is projected to be US$1.67k.
When we consider the country in the world, it is interesting to note that the highest revenue in the Scooters market is expected to be generated India, with an estimated revenue of US$10.62bn in 2024.
In India, the rising demand for electric scooters is reshaping the mobility landscape and promoting sustainable transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market is experiencing significant growth worldwide, driven by customer preferences for eco-friendly and cost-effective transportation options.

Customer preferences: Customers are increasingly opting for scooters as a convenient mode of transportation due to their compact size, ease of maneuverability, and fuel efficiency. Scooters are especially popular among urban dwellers who need a practical and efficient means of commuting in congested cities. Additionally, the rising awareness about environmental issues has led to a growing preference for electric scooters, which produce zero emissions and have lower operating costs compared to traditional gasoline-powered scooters.

Trends in the market: One of the key trends in the Scooters market is the rapid adoption of electric scooters. With advancements in battery technology and the availability of charging infrastructure, electric scooters have become a viable alternative to traditional scooters. Governments in many countries are also offering incentives and subsidies to promote the use of electric scooters, further driving their demand. Additionally, there is a growing trend of scooter-sharing services, where users can rent scooters for short periods, providing a flexible and affordable transportation option.

Local special circumstances: In Europe, the Scooters market is witnessing significant growth due to the increasing popularity of electric scooters and the presence of well-established infrastructure for cycling and scootering. European cities are known for their bike-friendly infrastructure, which makes scooters an attractive option for short-distance travel. In Asia, particularly in countries like India and Vietnam, scooters have long been a popular mode of transportation due to their affordability and ability to navigate through congested streets. However, there is a shift towards electric scooters in these markets as well, driven by government initiatives to reduce pollution.

Underlying macroeconomic factors: The growth of the Scooters market is also influenced by macroeconomic factors such as rising urbanization, increasing disposable income, and changing consumer lifestyles. As more people move to cities, the demand for efficient and affordable transportation options like scooters increases. Moreover, the affordability of scooters compared to cars makes them an attractive choice for cost-conscious consumers. Additionally, the growing trend of remote work and flexible schedules has led to a greater need for personal transportation, further boosting the demand for scooters. In conclusion, the Scooters market is experiencing significant growth worldwide due to customer preferences for eco-friendly and cost-effective transportation options. The adoption of electric scooters, the rise of scooter-sharing services, and the presence of well-established infrastructure for cycling and scootering are key trends driving the market. Local special circumstances, such as bike-friendly infrastructure in Europe and the affordability of scooters in Asian markets, further contribute to the market growth. Additionally, underlying macroeconomic factors like rising urbanization and changing consumer lifestyles play a significant role in driving the demand for scooters.

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.