Scooters - Gambia

Gambia

In 2024, the revenue in the Scooters market in Gambia is projected to reach US$0.53m.
It is anticipated that there will be a steady annual growth rate (CAGR 2024-2029) of 0.00%, resulting in a projected market volume of US$0.53m by 2029.
Moreover, it is expected that the unit sales of Scooters market in the country will reach 0.47k motorcyles by 2029.
The volume weighted average price of Scooters market in Gambia is projected to amount to US$1.11k in 2024.
From an international perspective, it is worth noting that India is expected to generate the highest revenue in the Scooters market, with an estimated amount of US$10,620.00m in 2024.
The demand for electric scooters in Gambia is on the rise, as the country aims to reduce carbon emissions and promote sustainable transportation options.

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

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Analyst Opinion

The Scooters market in Gambia is experiencing steady growth due to several factors. Customer preferences for convenient and affordable transportation options have led to an increased demand for scooters. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: Customers in Gambia are increasingly opting for scooters as their preferred mode of transportation. Scooters offer a cost-effective and efficient way to navigate through the country's congested roads and narrow streets. With rising fuel prices and limited parking spaces, scooters provide a convenient alternative to traditional cars. Moreover, scooters are popular among younger demographics who value the flexibility and freedom that comes with owning a two-wheeler.

Trends in the market: One of the key trends in the Scooters market in Gambia is the rise of electric scooters. As the global shift towards sustainable transportation gains momentum, consumers in Gambia are also embracing this trend. Electric scooters offer a cleaner and greener mode of transportation, reducing both carbon emissions and noise pollution. The increasing availability of charging infrastructure and government incentives for electric vehicles have further fueled the demand for electric scooters in the country. Another trend in the market is the emergence of scooter-sharing services. Similar to bike-sharing programs, scooter-sharing services allow users to rent scooters for short periods of time. This trend has gained popularity in urban areas, where individuals can easily access scooters for short commutes or leisure rides. The convenience and affordability of scooter-sharing services have made them a preferred choice for many residents and tourists in Gambia.

Local special circumstances: Gambia's geographical landscape, characterized by its sandy beaches and scenic coastal roads, makes it an ideal destination for scooter enthusiasts. The country's warm climate and relatively flat terrain create favorable conditions for scooter riders. Additionally, the tourism industry in Gambia has contributed to the growth of the Scooters market. Many tourists prefer to explore the country on scooters, allowing them to easily navigate through popular tourist destinations and experience the local culture.

Underlying macroeconomic factors: Gambia's growing economy and increasing disposable income levels have played a significant role in the development of the Scooters market. As the country's middle class expands, more individuals have the financial means to purchase scooters for personal use. The affordability of scooters, compared to cars, makes them an attractive option for individuals looking for affordable transportation solutions. Furthermore, government policies and regulations have also influenced the growth of the Scooters market. The government of Gambia has implemented initiatives to promote the use of scooters as a means of reducing traffic congestion and air pollution. These initiatives include the construction of dedicated scooter lanes and the implementation of stricter emission standards for vehicles. In conclusion, the Scooters market in Gambia is experiencing steady growth due to customer preferences for convenient and affordable transportation options. The rise of electric scooters and scooter-sharing services reflects global trends towards sustainable and shared mobility. Local special circumstances, such as Gambia's geographical landscape and tourism industry, further contribute to the development of the market. Additionally, underlying macroeconomic factors, including the country's growing economy and government policies, have played a significant role in shaping the Scooters market in Gambia.

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.