Scooters - ASEAN | Statista Market Forecast

Scooters - ASEAN

ASEAN

Highlights

The Scooters market in ASEAN is expected to achieve a substantial revenue of US$10.21bn by the year 2024.
Moreover, it is projected to exhibit a steady annual growth rate (CAGR 2024-2029) of 4.73%, resulting in a market volume of US$12.87bn by 2029.
In terms of unit sales, the Scooters market is anticipated to reach 8.58m motorcyles units by 2029.
Additionally, the volume weighted average price of the Scooters market in 2024 is projected to be US$1.36k.
Analyzing the international scenario, it is evident that India will generate the highest revenue in the Scooters market, amounting to US$10.62bn in 2024.
In Indonesia, the scooter market is booming with increasing demand for fuel-efficient and affordable transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in ASEAN is experiencing significant growth and development.

Customer preferences: Customers in ASEAN countries are increasingly opting for scooters as their preferred mode of transportation. Scooters offer several advantages over other vehicles, such as affordability, fuel efficiency, and ease of maneuverability in congested urban areas. Additionally, scooters are seen as a stylish and trendy mode of transportation, appealing to the younger generation.

Trends in the market: One of the key trends in the Scooters market in ASEAN is the rising demand for electric scooters. With increasing concerns about environmental pollution and the need for sustainable transportation solutions, electric scooters have gained popularity among customers. These scooters are not only eco-friendly but also offer cost savings in terms of fuel consumption and maintenance. The growing availability of charging infrastructure in ASEAN countries has also contributed to the increasing adoption of electric scooters. Another trend in the market is the introduction of advanced features and technologies in scooters. Manufacturers are incorporating features such as smartphone connectivity, GPS navigation, and advanced safety systems to enhance the riding experience and attract customers. Additionally, there is a growing demand for scooters with larger engine capacities, as customers seek higher performance and power.

Local special circumstances: The Scooters market in ASEAN is influenced by various local factors. One such factor is the rapid urbanization and population growth in many ASEAN countries. As cities become more crowded and traffic congestion worsens, scooters provide a convenient and efficient mode of transportation for commuting within urban areas. Moreover, the relatively low cost of scooters makes them accessible to a wide range of customers, including those with lower incomes.

Underlying macroeconomic factors: The growth of the Scooters market in ASEAN can be attributed to several underlying macroeconomic factors. The rising disposable incomes in ASEAN countries have increased the purchasing power of consumers, enabling them to afford scooters. Additionally, the expanding middle class in these countries has created a larger customer base for scooter manufacturers. Furthermore, favorable government policies and initiatives have played a crucial role in the development of the Scooters market in ASEAN. Governments in ASEAN countries have implemented measures to promote the use of scooters, such as tax incentives, subsidies, and infrastructure development. These initiatives have encouraged customers to choose scooters as their preferred mode of transportation. In conclusion, the Scooters market in ASEAN is witnessing significant growth and development due to customer preferences for affordable and fuel-efficient transportation options. The increasing demand for electric scooters and the introduction of advanced features are shaping the market landscape. Local factors such as rapid urbanization and population growth, along with underlying macroeconomic factors like rising disposable incomes and government initiatives, are driving the growth of the market.

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.