Scooters - Bhutan

Bhutan

The projected revenue of the Scooters market in Bhutan is expected to reach US$221.50k by 2024.
The annual growth rate (CAGR 2024-2029) is estimated to be 5.52%, resulting in a projected market volume of US$289.80k by 2029.
In terms of unit sales, it is anticipated that 105.00motorcyles Scooters market will be sold in Bhutan by 2029.
The volume weighted average price of the Scooters market in Bhutan is expected to be US$2.52k in 2024.
From an international perspective, it is evident that India will generate the highest revenue, amounting to US$10,620.00m in 2024.
With the increasing focus on sustainability and the hilly terrain of Bhutan, the demand for electric scooters has been steadily rising in the country.

Key regions: United States, Brazil, Spain, Indonesia, Portugal

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Analyst Opinion

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

Customer preferences: Customers in Bhutan are increasingly opting for scooters as their preferred mode of transportation. Scooters offer convenience, fuel efficiency, and affordability, making them an attractive choice for both urban and rural areas. Additionally, scooters are easy to maneuver in Bhutan's hilly terrain, making them a practical option for commuting.

Trends in the market: One of the key trends in the scooter market in Bhutan is the shift towards electric scooters. With the government's focus on sustainability and reducing carbon emissions, there is a growing demand for electric scooters in the country. Electric scooters not only offer environmental benefits but also provide cost savings in the long run due to lower fuel and maintenance costs. Another trend in the market is the increasing popularity of retro-style scooters. These scooters offer a unique and stylish design that appeals to the younger generation. Retro-style scooters are seen as a fashion statement and a reflection of personal style, driving their demand in the market.

Local special circumstances: Bhutan's unique geography and infrastructure play a significant role in the development of the scooter market. The country's mountainous terrain and narrow roads make scooters a practical choice for commuting. Scooters are more maneuverable and can navigate through congested areas, providing a convenient mode of transportation in Bhutan's cities and towns.

Underlying macroeconomic factors: The growing scooter market in Bhutan can be attributed to several underlying macroeconomic factors. Firstly, the increasing disposable income of the population has made scooters more affordable and accessible to a larger segment of the population. As people have more money to spend, they are more likely to invest in personal transportation options like scooters. Secondly, the government's focus on infrastructure development has improved road connectivity in Bhutan. This has made commuting easier and more convenient, further driving the demand for scooters. With better roads, people are more inclined to opt for scooters as a mode of transportation. Lastly, the government's push towards promoting tourism in Bhutan has also contributed to the growth of the scooter market. Tourists visiting the country often prefer renting scooters to explore the scenic landscapes and cultural sites. This has created a demand for rental scooters, boosting the overall market. In conclusion, the Scooters market in Bhutan is witnessing significant growth and development due to customer preferences for convenience, fuel efficiency, and affordability. The shift towards electric scooters and the popularity of retro-style scooters are key trends in the market. Bhutan's unique geography and infrastructure, along with underlying macroeconomic factors such as increasing disposable income and government initiatives, are driving the growth of the scooter market in the country.

Methodology

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.