Scooters - Brunei Darussalam

Brunei Darussalam

Highlights

The projected revenue for the Scooters market in Brunei Darussalam is expected to reach US$47.82k by 2024.
It is anticipated that there will be an annual growth rate (CAGR 2024-2029) of 2.84%, resulting in a projected market volume of US$55.00k by 2029.
The unit sales for the Scooters market in Brunei Darussalam are expected to reach 26.00motorcyles by 2029.
The volume weighted average price of the Scooters market in 2024 is projected to be US$1.99k.
From an international perspective, it is evident that India will generate the highest revenue, amounting to US$10.62bn in 2024.
Brunei Darussalam's scooter market is experiencing a surge in demand due to the country's compact size and growing focus on sustainable transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Brunei Darussalam is experiencing significant growth and development.

Customer preferences: Bruneians are increasingly opting for scooters as their preferred mode of transportation. This can be attributed to several factors. Firstly, scooters are more affordable compared to cars and motorcycles, making them an attractive option for budget-conscious consumers. Additionally, scooters are fuel-efficient and environmentally friendly, aligning with the growing global trend towards sustainable transportation. Furthermore, the compact size of scooters makes them ideal for navigating the narrow streets and congested traffic in urban areas.

Trends in the market: One notable trend in the Scooters market in Brunei Darussalam is the rising demand for electric scooters. As the government and consumers become more environmentally conscious, there is a growing interest in electric vehicles. Electric scooters offer a clean and quiet alternative to traditional petrol-powered scooters, making them particularly appealing for urban commuters. This trend is also supported by the increasing availability of electric charging infrastructure in the country. Another trend in the market is the emergence of scooter-sharing services. This trend is driven by the convenience and cost-effectiveness of scooter rentals. With the rise of ride-hailing apps and the sharing economy, scooter-sharing services provide an affordable and flexible transportation option for Bruneians. These services are especially popular among younger consumers who value convenience and are less inclined to own a vehicle.

Local special circumstances: The Scooters market in Brunei Darussalam is influenced by the unique geographical and cultural characteristics of the country. Brunei Darussalam is a small nation with a well-developed road network, making it conducive for scooter usage. The compact size of the country also means that commuting distances are relatively short, further supporting the popularity of scooters as a practical mode of transportation. Furthermore, Brunei Darussalam has a predominantly Muslim population, and Islamic values play a significant role in consumer preferences. Scooters, with their modest design and practicality, align well with Islamic principles of simplicity and efficiency. This cultural aspect contributes to the growing acceptance and adoption of scooters in the country.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the development of the Scooters market in Brunei Darussalam. Firstly, the country has a stable and prosperous economy, which translates into higher disposable incomes for consumers. This enables more individuals to afford scooters as a means of transportation. Additionally, the government of Brunei Darussalam has implemented policies and initiatives to promote the use of scooters and other sustainable modes of transportation. These include incentives such as tax breaks and subsidies for electric scooters, as well as the development of infrastructure to support alternative transportation options. These measures create a favorable environment for the growth of the Scooters market in Brunei Darussalam. In conclusion, the Scooters market in Brunei Darussalam is experiencing growth and development due to customer preferences for affordable and sustainable transportation options. The rising demand for electric scooters and the emergence of scooter-sharing services are notable trends in the market. The unique geographical and cultural characteristics of Brunei Darussalam, along with the stable economy and government initiatives, further contribute to the growth of the Scooters market in the country.

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.