Scooters - Chile | Statista Market Forecast

Scooters - Chile

Chile

Highlights

In 2024, the projected revenue in the Scooters market in Chile is expected to reach US$13.11m.
Looking ahead, it is anticipated that the revenue will experience an annual growth rate of 3.24% from 2024 to 2029, resulting in a projected market volume of US$15.37m by 2029.
Furthermore, it is estimated that the unit sales of Scooters market in Chile will reach 7.18k motorcyles by 2029.
The volume weighted average price of the Scooters market in Chile is projected to be US$1.97k in 2024.
It is worth noting that the highest revenue is expected to be generated India, with a staggering US$10.62bn in 2024.
Chile is witnessing a surge in scooter popularity as urban dwellers embrace eco-friendly transportation alternatives.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Chile has been experiencing significant growth in recent years, driven by various factors such as changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Chile have shown a growing preference for scooters due to their affordability, fuel efficiency, and convenience for short-distance commuting. With rising urbanization and traffic congestion in major cities like Santiago, scooters offer a practical and cost-effective solution for daily transportation needs. Additionally, the younger generation in Chile is increasingly adopting scooters as a trendy and environmentally friendly mode of transportation.

Trends in the market: One of the key trends in the scooters market in Chile is the increasing demand for electric scooters. As sustainability and environmental consciousness become more important to consumers, electric scooters have gained popularity due to their zero-emission nature. The government of Chile has also implemented policies to promote the adoption of electric vehicles, including scooters, through incentives and subsidies, further driving the demand for electric scooters in the market. Another trend in the market is the rise of scooter-sharing services. Similar to bike-sharing services, scooter-sharing platforms have emerged in major cities in Chile, offering users the convenience of renting a scooter for short trips. This trend has been fueled by the growing popularity of ride-sharing and the increasing use of mobile applications for transportation services.

Local special circumstances: Chile's geography and climate also contribute to the growth of the scooters market. The country's long coastline and diverse landscapes make scooters an attractive option for leisure and recreational activities. Additionally, Chile has a relatively mild climate, with many cities enjoying favorable weather conditions throughout the year, making scooters a practical choice for daily commuting and outdoor activities.

Underlying macroeconomic factors: Chile's stable economy and increasing disposable income levels have played a significant role in the growth of the scooters market. As the country's middle class expands, more individuals have the financial means to purchase scooters for personal use. Furthermore, the government's efforts to improve infrastructure and promote sustainable transportation options have created a favorable environment for the scooters market to thrive. In conclusion, the Scooters market in Chile is experiencing growth due to changing customer preferences, emerging trends such as electric scooters and scooter-sharing services, local special circumstances like geography and climate, and underlying macroeconomic factors such as a stable economy and increasing disposable income levels. The future of the market looks promising as more individuals recognize the benefits of scooters for daily commuting and leisure activities.

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.