Key regions: United States, Brazil, Spain, Indonesia, Portugal
The Scooters market in Asia has been experiencing significant growth in recent years. Customer preferences for convenient and eco-friendly transportation options, along with favorable local circumstances and underlying macroeconomic factors, have contributed to this trend. Customer preferences in the Scooters market in Asia have been shifting towards more sustainable and efficient modes of transportation. Scooters offer a practical solution for short-distance commuting, especially in densely populated urban areas. They are compact, easy to maneuver, and require less parking space compared to cars. Furthermore, the increasing awareness of environmental issues has led to a growing demand for electric scooters, which produce fewer emissions and have lower operating costs. Customers are also attracted to the cost-effectiveness of scooters, as they are generally more affordable than cars and motorcycles. One of the key trends in the Scooters market in Asia is the rise of ride-sharing services. Companies offering scooter-sharing services have gained popularity in many Asian cities, providing users with a convenient and flexible transportation option. These services allow customers to rent scooters for short periods of time, eliminating the need for ownership and maintenance. The availability of scooter-sharing services has expanded rapidly, with many companies entering the market and expanding their operations to meet the growing demand. Another trend in the Scooters market in Asia is the increasing adoption of electric scooters. Governments in several Asian countries have implemented policies and incentives to promote the use of electric vehicles, including scooters. These measures aim to reduce air pollution and dependence on fossil fuels. As a result, electric scooters have become more affordable and accessible to customers. The improved battery technology has also extended the range and performance of electric scooters, making them a viable alternative to traditional gasoline-powered scooters. Local special circumstances have also contributed to the growth of the Scooters market in Asia. In many Asian cities, traffic congestion is a major problem, and scooters offer a practical solution for navigating through crowded streets. Furthermore, the relatively low income levels in some Asian countries make scooters a more affordable option for transportation compared to cars. Additionally, the compact size of scooters makes them suitable for navigating narrow roads and alleys, which are common in many Asian cities. Underlying macroeconomic factors have also played a role in the development of the Scooters market in Asia. Economic growth and rising disposable incomes in many Asian countries have increased the affordability of scooters for a larger segment of the population. Additionally, the expansion of urban areas has created a need for efficient and cost-effective transportation options. The availability of financing options and favorable government policies, such as tax incentives and subsidies, have also encouraged the purchase of scooters. In conclusion, the Scooters market in Asia is growing due to customer preferences for convenient and eco-friendly transportation options, the rise of ride-sharing services, the increasing adoption of electric scooters, local special circumstances, and underlying macroeconomic factors. These factors have created a favorable environment for the development and expansion of the Scooters market in Asia.
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.
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