Scooters - Colombia

Colombia

Highlights

Colombia's Scooters market is projected to achieve a revenue of US$300.40m by 2024.
This market is expected to experience a steady annual growth rate (CAGR 2024-2029) of 5.53%, leading to a projected market volume of US$393.30m by 2029.
In that year, unit sales for the Scooters market are expected to reach 174.80k motorcyles.
The volume weighted average price for Scooters market in 2024 is anticipated to be US$2.11k.
From an international standpoint, India is set to generate the highest revenue in the Scooters market, reaching US$10.62bn by 2024.
The scooter market in Colombia is seeing a surge in popularity, with an increasing number of urban dwellers opting for scooters as a convenient and eco-friendly mode of transportation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Colombia is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Scooters market in Colombia have shifted towards more eco-friendly and cost-effective transportation options. Scooters offer a convenient and efficient mode of transportation, especially in urban areas with heavy traffic congestion. They are also a popular choice among younger consumers who are looking for a stylish and affordable means of getting around. Trends in the Scooters market in Colombia include the increasing popularity of electric scooters. With growing concerns about air pollution and the need to reduce carbon emissions, electric scooters provide a greener alternative to traditional gasoline-powered scooters. The availability of charging infrastructure and improvements in battery technology have contributed to the rise in demand for electric scooters. Another trend in the market is the emergence of scooter-sharing services. These services allow users to rent scooters for short periods, providing a flexible and convenient transportation option. Scooter-sharing services have gained popularity in urban areas where there is a high demand for short-distance travel. This trend is driven by the growing popularity of ride-sharing services and the increasing adoption of smartphone technology. Local special circumstances in Colombia, such as the country's geography and urbanization, have also contributed to the development of the Scooters market. Colombia has diverse terrain, including mountains and urban areas with narrow streets, making scooters a practical choice for navigating through these challenging environments. Additionally, the rapid urbanization in Colombia has led to increased demand for efficient and affordable transportation options, further driving the growth of the Scooters market. Underlying macroeconomic factors, such as the country's economic growth and rising disposable incomes, have also played a role in the development of the Scooters market in Colombia. As the economy continues to grow, more consumers have the financial means to purchase scooters as a mode of transportation. The affordability and low maintenance costs of scooters make them an attractive option for consumers looking for cost-effective transportation solutions. In conclusion, the Scooters market in Colombia is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards eco-friendly transportation options, the popularity of electric scooters, the emergence of scooter-sharing services, Colombia's geography and urbanization, and the country's economic growth and rising disposable incomes are all contributing to the expansion of the Scooters market in Colombia.

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.