Scooters - Eastern Asia

Eastern Asia

Highlights

In 2024, the projected revenue in the Scooters market in Eastern Asia is expected to reach US$8.38bn.
This market is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 1.78%, resulting in a projected market volume of US$9.16bn by 2029.
By that year, the expected unit sales in the Scooters market are predicted to reach 5.55m motorcyles.
The volume weighted average price of the Scooters market in 2024 is estimated to be US$1.54k.
It is worth noting that from an international perspective, India is projected to generate the highest revenue in the Scooters market, amounting to US$10.62bn in 2024.
In Japan, the scooter market is flourishing due to the country's dense urban population and the need for efficient and eco-friendly transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Eastern Asia is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in Eastern Asia are playing a crucial role in driving the growth of the Scooters market. In this region, there is a growing demand for eco-friendly and cost-effective transportation options. Scooters provide an ideal solution as they are fuel-efficient and emit lower levels of pollutants compared to traditional vehicles. Additionally, scooters are compact and well-suited for navigating through the congested urban areas of Eastern Asia. The convenience and affordability of scooters make them an attractive choice for both young professionals and students who are looking for efficient modes of transportation. The trends in the Scooters market in Eastern Asia are also contributing to its growth. One notable trend is the increasing popularity of electric scooters. With the rising concern for environmental sustainability, electric scooters offer a greener alternative to traditional gasoline-powered scooters. The advancements in battery technology have made electric scooters more efficient and practical, leading to a surge in their demand. Furthermore, there is a growing trend of customization and personalization among scooter enthusiasts in Eastern Asia. This trend has given rise to a market for aftermarket accessories and modifications, further driving the growth of the Scooters market. Local special circumstances in Eastern Asia are also influencing the development of the Scooters market. The region's densely populated cities, such as Tokyo, Seoul, and Taipei, face significant traffic congestion and limited parking spaces. Scooters provide a practical solution to these challenges as they are nimble and can easily navigate through traffic. Moreover, the compact size of scooters allows for easier parking in crowded urban areas. These local circumstances have created a favorable environment for the growth of the Scooters market in Eastern Asia. Underlying macroeconomic factors are also contributing to the development of the Scooters market in Eastern Asia. The region's strong economic growth has led to an increase in disposable income and purchasing power among consumers. As a result, more individuals are able to afford scooters as a means of transportation. Additionally, government initiatives and incentives to promote green transportation have further boosted the demand for scooters. Subsidies and tax benefits for electric scooters, in particular, have made them more affordable and appealing to consumers. In conclusion, the Scooters market in Eastern Asia is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for eco-friendly and cost-effective transportation options, the popularity of electric scooters, the need for efficient urban mobility, and the region's strong economic growth are all contributing to the positive trajectory of the Scooters market in Eastern Asia.

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.