Scooters - Central Asia

Central Asia

In 2024, the projected revenue in the Scooters market in Central Asia is expected to reach US$24.08m.
Looking ahead, there is an anticipated annual growth rate (CAGR 2024-2029) of 2.25%, which would result in a projected market volume of US$26.92m by 2029.
It is estimated that unit sales in the Scooters market will reach 12.78k motorcyles in 2029.
Additionally, the volume weighted average price of the Scooters market in 2024 is expected to be US$2.00k.
From an international perspective, it is evident that the highest revenue will be generated India, with an estimated amount of US$10,620.00m in 2024.
Central Asia's scooter market is booming, with a surge in demand for electric scooters in Kazakhstan.

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

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Region

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Currency

Analyst Opinion

The Scooters market in Central Asia has been experiencing significant growth in recent years.

Customer preferences: One of the key reasons for the development of the Scooters market in Central Asia is the changing preferences of customers. Scooters are becoming increasingly popular among urban dwellers as a convenient and cost-effective mode of transportation. With the rise in traffic congestion and limited parking spaces, scooters offer a practical solution for commuting in crowded cities. Additionally, the younger generation in Central Asia is showing a growing interest in scooters as a trendy and eco-friendly means of transportation.

Trends in the market: The Scooters market in Central Asia is witnessing several trends that are driving its growth. Firstly, there is a growing demand for electric scooters, as consumers are becoming more environmentally conscious and seeking greener alternatives to traditional fuel-powered vehicles. Electric scooters offer lower emissions and reduced noise pollution, making them an attractive option for urban areas. Furthermore, the availability of affordable and technologically advanced electric scooters is contributing to their popularity in the region. Another trend in the Scooters market in Central Asia is the increasing adoption of scooter-sharing services. These services provide a convenient and economical way for people to travel short distances within cities. The rise of smartphone apps and the ease of accessing scooter-sharing platforms have made it more convenient for customers to rent scooters for their daily commute or leisure activities. This trend is particularly prominent in densely populated cities where public transportation options may be limited.

Local special circumstances: Central Asia has a unique set of circumstances that have contributed to the development of the Scooters market. The region has a young and growing population, with a significant proportion residing in urban areas. This demographic shift has created a demand for affordable and efficient transportation options. Additionally, the region's improving infrastructure and road networks have made it more conducive for scooters to navigate through cities.

Underlying macroeconomic factors: Several macroeconomic factors have played a role in the growth of the Scooters market in Central Asia. The region has experienced overall economic growth in recent years, leading to higher disposable incomes among consumers. This has made scooters more affordable and accessible to a larger segment of the population. Furthermore, government initiatives and incentives to promote clean transportation have encouraged the adoption of electric scooters in Central Asia. In conclusion, the Scooters market in Central Asia is developing due to changing customer preferences, the adoption of electric scooters, the rise of scooter-sharing services, local special circumstances, and underlying macroeconomic factors. As urbanization continues and environmental concerns become more prominent, the Scooters market in Central Asia is expected to further expand in the coming years.

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.