Key regions: United States, Brazil, Spain, Indonesia, Portugal
The Scooters market in Bangladesh is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Bangladesh is a densely populated country with a growing middle-class population. As a result, there is an increasing demand for affordable and efficient transportation options. Scooters provide a convenient mode of transport for daily commuting, especially in congested urban areas. They are fuel-efficient, easy to maneuver through traffic, and require less maintenance compared to cars or motorcycles. Additionally, scooters are seen as a stylish and trendy mode of transport, particularly among the younger generation.
Trends in the market: One of the key trends in the Scooters market in Bangladesh is the shift towards electric scooters. With increasing concerns about environmental pollution and rising fuel prices, consumers are becoming more conscious of their carbon footprint and are opting for eco-friendly alternatives. Electric scooters offer a clean and sustainable mode of transport, reducing both air and noise pollution. The government has also introduced various incentives and subsidies to promote the adoption of electric vehicles, further driving the demand for electric scooters in the market. Another trend in the Scooters market is the introduction of advanced features and technology. Manufacturers are incorporating features such as digital displays, GPS navigation, mobile connectivity, and anti-theft systems to enhance the overall riding experience. These technological advancements not only attract tech-savvy consumers but also improve safety and convenience.
Local special circumstances: Bangladesh faces several challenges in terms of transportation infrastructure. The roads are often congested, and public transportation systems are inadequate in many areas. This creates a need for personal transportation options, and scooters provide a practical solution. The compact size of scooters allows riders to navigate through narrow streets and congested traffic, making them an ideal choice for urban commuting.
Underlying macroeconomic factors: The economic growth in Bangladesh has led to an increase in disposable income and purchasing power of the middle-class population. This has contributed to the growing demand for scooters as an affordable mode of transport. Additionally, the government's focus on infrastructure development and urbanization has resulted in the expansion of road networks, further facilitating the use of scooters. In conclusion, the Scooters market in Bangladesh is witnessing growth due to customer preferences for affordable and efficient transportation, the emergence of electric scooters, the adoption of advanced features and technology, local transportation challenges, and favorable macroeconomic factors. As the market continues to evolve, manufacturers and retailers should keep a close eye on these trends and adapt their strategies to cater to the changing demands of consumers.
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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