Scooters - Canada | Statista Market Forecast

Scooters - Canada

Canada

Highlights

In 2024, the projected revenue in the Scooters market in Canada is expected to reach US$34.86m.
It is anticipated that there will be an annual growth rate of 2.47% (CAGR 2024-2029), leading to a projected market volume of US$39.39m by 2029.
By 2029, the unit sales in the Scooters market are expected to reach 7.41k motorcyles.
The volume weighted average price of the Scooters market in 2024 is projected to be US$5.22k.
From an international perspective, it is evident that India is projected to generate the highest revenue of INR US$10.62bn in 2024.
In Canada, the market for electric scooters is rapidly growing due to the country's focus on environmental sustainability and transportation efficiency.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Canada has experienced significant growth in recent years, driven by changing consumer preferences, technological advancements, and favorable macroeconomic conditions.

Customer preferences: One of the key factors driving the growth of the Scooters market in Canada is the increasing preference for eco-friendly and cost-effective transportation options. Scooters are seen as a sustainable alternative to traditional vehicles, as they produce lower emissions and require less fuel. Additionally, scooters offer a convenient and efficient mode of transportation, particularly in urban areas with heavy traffic congestion.

Trends in the market: An emerging trend in the Scooters market in Canada is the growing popularity of electric scooters. With advancements in battery technology, electric scooters have become more practical and affordable for consumers. Electric scooters offer a clean and quiet transportation option, making them particularly attractive for urban commuters. Furthermore, the availability of electric charging infrastructure has improved, further boosting the adoption of electric scooters. Another trend in the Scooters market in Canada is the increasing demand for high-performance and stylish scooters. Consumers are looking for scooters that not only provide efficient transportation but also reflect their personal style and preferences. As a result, manufacturers are focusing on designing scooters with sleek and modern aesthetics, as well as improved performance features such as higher speeds and longer battery life.

Local special circumstances: Canada's urban centers, such as Toronto, Vancouver, and Montreal, have seen a surge in scooter sharing services. These services allow users to rent scooters for short-distance travel, providing a convenient and affordable transportation option. The availability of scooter sharing services has further contributed to the growth of the Scooters market in Canada, particularly among younger urban dwellers who value flexibility and convenience.

Underlying macroeconomic factors: The favorable macroeconomic conditions in Canada have also played a role in the growth of the Scooters market. A strong economy, low unemployment rates, and increasing disposable income levels have made scooters more affordable and accessible to a larger segment of the population. Additionally, government initiatives and incentives promoting sustainable transportation have further encouraged the adoption of scooters as an alternative mode of transportation. In conclusion, the Scooters market in Canada is experiencing significant growth due to changing customer preferences, the emergence of electric scooters, and favorable macroeconomic conditions. The increasing demand for eco-friendly and cost-effective transportation options, as well as the popularity of scooter sharing services, are driving the market's expansion. With ongoing technological advancements and government support for sustainable transportation, the Scooters market in Canada is expected to continue its upward trajectory in the coming years.

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.