Scooters - Iceland

Iceland

In 2024, the projected revenue in the Scooters market in Iceland is expected to reach US$58.78k.
Looking ahead, the revenue is anticipated to exhibit an annual growth rate of 2.43% (CAGR 2024-2029).
Consequently, the projected market volume is estimated to reach US$66.27k by 2029.
By that year, it is expected that the unit sales in the Scooters market will reach 12.00motorcyles.
As for the volume weighted average price of the Scooters market in Iceland, it is projected to amount to US$5.34k in 2024.
It is interesting to note that, from an international perspective, the country generating the highest revenue in this segment is India.
In 2024, [maxRevenueMarketCurrentYearName] is projected to generate revenue of US$10,620.00m.
The demand for electric scooters in Iceland has surged, driven by the country's commitment to renewable energy and sustainable transportation.

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

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Analyst Opinion

The Scooters market in Iceland has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Scooters market in Iceland have shifted towards more sustainable and efficient modes of transportation. With increasing concerns about environmental pollution and the need for alternative transportation options, scooters have emerged as a popular choice among consumers. The compact size and ease of maneuverability make scooters a convenient option for navigating through the narrow streets of Icelandic cities. Additionally, the cost-effectiveness of scooters compared to traditional vehicles has also appealed to customers, especially in a country known for its high cost of living. Trends in the market have further fueled the growth of the Scooters market in Iceland. The rise of e-commerce and online platforms has made it easier for customers to access a wide range of scooter models and compare prices. This has increased competition among scooter retailers, leading to more affordable options for consumers. Furthermore, technological advancements in scooters, such as improved battery life and enhanced safety features, have also contributed to their growing popularity. Local special circumstances in Iceland have played a role in the development of the Scooters market. The country's unique geography, with its rugged terrain and challenging weather conditions, has made scooters a practical choice for many Icelanders. Scooters are well-suited for navigating through the country's diverse landscape, including urban areas, gravel roads, and mountainous regions. Additionally, the compact size of scooters allows for easier parking in crowded city centers, where parking spaces are often limited. Underlying macroeconomic factors have also influenced the growth of the Scooters market in Iceland. The country's strong economy and high disposable income levels have made scooters more affordable for a larger segment of the population. Additionally, government initiatives promoting sustainable transportation and reducing carbon emissions have created a favorable environment for the adoption of scooters. These factors, combined with the increasing popularity of scooters as a trendy and fashionable mode of transportation, have contributed to the overall growth of the Scooters market in Iceland. In conclusion, the Scooters market in Iceland has experienced significant growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards more sustainable and efficient transportation options, along with technological advancements and the unique geography of Iceland, has contributed to the increasing popularity of scooters. Furthermore, the country's strong economy and government initiatives have created a favorable environment for the growth of the Scooters 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.