Scooters - Georgia

Georgia

In 2024, the projected revenue in the Scooters market in Georgia is expected to reach US$3.05m.
This market is projected to experience an annual growth rate of 3.77% from 2024 to 2029, resulting in a market volume of US$3.67m by 2029.
By 2029, it is expected that the unit sales in the Scooters market will reach 1.39k motorcyles.
The volume weighted average price of the Scooters market in Georgia is projected to be US$2.62k in 2024.
When considering the international perspective, it is noteworthy that India is anticipated to generate the highest revenue in the Scooters market, amounting to US$10,620.00m in 2024.
With the increasing popularity of electric scooters in Georgia, the country is embracing sustainable transportation options.

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

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Analyst Opinion

The Scooters market in Georgia is experiencing significant growth due to changing customer preferences and favorable local circumstances.

Customer preferences: In recent years, there has been a shift in customer preferences towards more eco-friendly and cost-effective modes of transportation. Scooters offer a convenient and efficient way to navigate through congested urban areas, making them popular among commuters and young adults. Additionally, the growing popularity of electric scooters reflects a desire for sustainable transportation options.

Trends in the market: One of the key trends in the Scooters market in Georgia is the increasing adoption of electric scooters. These scooters are not only environmentally friendly but also provide a quieter and smoother ride compared to traditional gasoline-powered scooters. The government has also introduced incentives and subsidies to encourage the use of electric scooters, further driving their demand in the market. Another trend in the market is the rise of scooter-sharing services. These services allow users to rent scooters for short distances, providing a convenient and affordable alternative to traditional transportation options. The popularity of scooter-sharing services has been fueled by the increasing number of tourists visiting Georgia, who find scooters a convenient way to explore the city.

Local special circumstances: Georgia's geographical location and the presence of popular tourist destinations such as Tbilisi and Batumi have contributed to the growth of the Scooters market. The compact size of these cities makes scooters an ideal mode of transport for both locals and visitors. Additionally, the warm climate in Georgia allows for year-round scooter usage, further boosting the market.

Underlying macroeconomic factors: The growing Scooters market in Georgia is also influenced by several macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. This has made scooters more affordable and accessible to a larger segment of the population. Furthermore, the government's focus on infrastructure development has improved the overall transportation network in Georgia. This has made it easier for scooters to navigate through the cities, creating a conducive environment for their usage. In conclusion, the Scooters market in Georgia is witnessing growth due to changing customer preferences, including the adoption of electric scooters and the rise of scooter-sharing services. The country's favorable local circumstances, such as its compact cities and warm climate, further contribute to the market's expansion. Additionally, the underlying macroeconomic factors, including economic growth and infrastructure development, support the growth of the market.

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.