Key regions: United States, Brazil, Spain, Indonesia, Portugal
The Scooters market in the Caribbean is experiencing steady growth, driven by a combination of customer preferences, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Caribbean have shifted towards more sustainable and cost-effective transportation options, which has led to an increased demand for scooters. Scooters are seen as an environmentally friendly alternative to cars, as they produce less emissions and consume less fuel. Additionally, scooters are more affordable and easier to maintain compared to cars, making them an attractive option for budget-conscious consumers. Trends in the market indicate that scooters are becoming increasingly popular among young adults and urban dwellers in the Caribbean. The compact size and maneuverability of scooters make them ideal for navigating through congested city streets and finding parking in limited spaces. Furthermore, scooters are seen as a trendy and fashionable mode of transportation, appealing to the younger generation who value style and individuality. Local special circumstances in the Caribbean also contribute to the growth of the scooters market. Many Caribbean countries face challenges with traffic congestion and limited public transportation options. Scooters provide a practical solution to these issues, allowing commuters to bypass traffic and reach their destinations more efficiently. Moreover, the warm climate and scenic landscapes of the Caribbean make riding scooters a pleasurable experience, further driving the demand for this mode of transportation. Underlying macroeconomic factors play a significant role in the development of the scooters market in the Caribbean. Economic growth and rising disposable incomes have increased consumer purchasing power, enabling more people to afford scooters. Additionally, the tourism industry in the Caribbean attracts a large number of visitors who may opt to rent or purchase scooters for sightseeing and exploring the local attractions. In conclusion, the Scooters market in the Caribbean is growing due to customer preferences for sustainable and cost-effective transportation options, trends among young adults and urban dwellers, local special circumstances such as traffic congestion, and underlying macroeconomic factors such as economic growth and tourism. This growth is expected to continue as more consumers recognize the benefits of scooters and the market expands to meet the increasing demand.
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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