Scooters - EU-27 | Statista Market Forecast

Scooters - EU-27

EU-27

Highlights

The revenue in the Scooters market is estimated to reach US$1.51bn in 2024.
It is expected to have an annual growth rate (CAGR 2024-2029) of 4.45%, leading to a projected market volume of US$1.88bn by 2029.
In the EU-360.80k motorcyles, the unit sales of the Scooters market are predicted to reach 360.80k motorcyles by 2029.
The volume weighted average price of the Scooters market in 2024 is expected to be US$5.06k.
From an international perspective, India is projected to generate the highest revenue in the Scooters market, with US$10.62bn in 2024.
In Germany, the trend of electric scooters is gaining traction as consumers are increasingly seeking eco-friendly and cost-effective transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in EU-27 has experienced significant growth in recent years, driven by changing customer preferences and underlying macroeconomic factors.

Customer preferences: One of the main factors driving the growth of the Scooters market in EU-27 is the increasing demand for eco-friendly transportation options. Scooters offer a more sustainable and cost-effective alternative to traditional cars, especially in urban areas where traffic congestion and limited parking spaces are common. Additionally, scooters are seen as a convenient mode of transportation for short-distance travel, providing flexibility and agility in crowded city streets.

Trends in the market: One of the key trends in the Scooters market in EU-27 is the rise of electric scooters. With advancements in battery technology and increased awareness of environmental issues, consumers are increasingly opting for electric scooters over traditional gasoline-powered ones. Electric scooters offer lower operating costs and zero-emission transportation, making them an attractive choice for environmentally conscious consumers. Furthermore, the availability of charging infrastructure and government incentives for electric vehicles have contributed to the growing popularity of electric scooters in the region. Another trend in the Scooters market is the emergence of scooter-sharing services. Similar to bike-sharing programs, scooter-sharing services have gained popularity in urban areas, offering a convenient and affordable transportation option for short trips. These services often utilize smartphone apps for easy rental and payment, making them accessible to a wide range of consumers. The convenience and flexibility of scooter-sharing services have contributed to the overall growth of the Scooters market in EU-27.

Local special circumstances: The Scooters market in EU-27 is influenced by local regulations and infrastructure. Some cities have implemented specific regulations for scooters, such as speed limits and designated parking areas, to ensure safety and minimize disruptions to pedestrians and other road users. Additionally, the availability of dedicated scooter lanes and parking spaces can greatly impact the adoption of scooters in a particular city or region.

Underlying macroeconomic factors: The growth of the Scooters market in EU-27 is also influenced by underlying macroeconomic factors. Rising fuel prices and increasing concerns about air pollution have led consumers to seek alternative modes of transportation, such as scooters. Additionally, economic factors such as income levels and employment rates can impact the affordability and demand for scooters. As disposable incomes rise and unemployment rates decrease, consumers may have more financial resources to invest in scooters as a means of transportation.

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.