Scooters - Iraq | Statista Market Forecast

Scooters - Iraq

Iraq

Highlights

In 2024, the projected revenue for the Scooters market in Iraq is expected to reach US$57.40m.
It is anticipated that there will be an annual growth rate of 4.04% (CAGR 2024-2029), resulting in a projected market volume of US$69.96m by 2029.
The unit sales for the Scooters market in Iraq are expected to reach 28.49k motorcyles by 2029.
Additionally, the volume weighted average price of the Scooters market in Iraq is projected to be US$2.41k in 2024.
When considering the international market, India is expected to generate the highest revenue, reaching US$10.62bn in 2024.
In Iraq, the demand for electric scooters is steadily increasing as consumers seek affordable and eco-friendly transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Iraq has been experiencing significant growth in recent years, driven by changing customer preferences and underlying macroeconomic factors.

Customer preferences: In Iraq, there has been a shift in customer preferences towards more affordable and fuel-efficient modes of transportation. Scooters, with their lower price points and better fuel efficiency compared to cars and motorcycles, have become a popular choice among consumers. Additionally, the compact size of scooters makes them well-suited for navigating through congested urban areas, which is a common feature in many cities in Iraq.

Trends in the market: One of the key trends in the Scooters market in Iraq is the increasing demand for electric scooters. As environmental concerns and the need for sustainable transportation options gain prominence, more consumers are opting for electric scooters. These scooters offer lower emissions and reduced fuel consumption, making them an attractive choice for environmentally-conscious consumers. Furthermore, the government of Iraq has been actively promoting the adoption of electric vehicles, including scooters, through various incentives and subsidies, which has further fueled the demand for electric scooters. Another trend in the Scooters market in Iraq is the growing popularity of scooters for delivery services. With the rise of e-commerce and online food delivery platforms, there has been a surge in demand for efficient and cost-effective last-mile delivery solutions. Scooters provide a convenient and economical option for delivery companies, enabling them to navigate through traffic and reach customers in a timely manner. This trend is expected to continue as the e-commerce sector in Iraq continues to expand.

Local special circumstances: Iraq has a relatively young population, with a large proportion of the population falling within the working-age group. This demographic trend has contributed to the growth of the Scooters market, as young professionals and students seek affordable and convenient transportation options. Additionally, the high cost of car ownership, including fuel and maintenance expenses, has made scooters an attractive alternative for many Iraqis.

Underlying macroeconomic factors: The Scooters market in Iraq has also been influenced by underlying macroeconomic factors. The country has witnessed a period of relative stability and economic growth, which has led to an increase in disposable income and consumer spending. As a result, more individuals are able to afford personal transportation, and scooters have emerged as a popular choice due to their affordability and low operating costs. Furthermore, the government's efforts to improve infrastructure and road networks have made it easier for individuals to commute using scooters. In conclusion, the Scooters market in Iraq is experiencing growth due to changing customer preferences, including a shift towards more affordable and fuel-efficient transportation options. The increasing demand for electric scooters and the popularity of scooters for delivery services are key trends in the market. Additionally, the young population, high cost of car ownership, and underlying macroeconomic factors such as economic growth and improved infrastructure have contributed to the growth of the Scooters market in Iraq.

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.