Scooters - Israel | Statista Market Forecast

Scooters - Israel

Israel

Highlights

In 2024, it is projected that the revenue in the Scooters market in Israel will reach US$2.59m.
Looking ahead, there is an expected annual growth rate of 2.39% (CAGR 2024-2029), which will result in a projected market volume of US$2.92m by 2029.
The unit sales in the Scooters market are expected to reach 1.26k motorcyles in 2029.
The volume weighted average price of the Scooters market in Israel in 2024 is expected to be US$2.25k.
From an international perspective, it is evident that the highest revenue will be generated India, amounting to US$10.62bn in 2024.
The demand for electric scooters in Israel has surged due to the country's commitment to sustainability and the promotion of eco-friendly transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Israel has been experiencing significant growth in recent years. Customer preferences for scooters have shifted towards more environmentally friendly and cost-effective transportation options. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the Scooters market in Israel.

Customer preferences: In Israel, customer preferences for scooters have been influenced by several factors. Firstly, there is a growing awareness and concern about environmental issues, leading to an increased demand for eco-friendly transportation options. Scooters, which are typically electric or have low fuel consumption, align with this preference for sustainable mobility. Secondly, the rising cost of car ownership and maintenance has made scooters an attractive alternative for many consumers. Scooters are generally more affordable to purchase and operate compared to cars, making them a cost-effective transportation option. This has appealed to a wide range of consumers, including students, young professionals, and individuals living in urban areas.

Trends in the market: One of the key trends in the Scooters market in Israel is the increasing popularity of electric scooters. The government has implemented various initiatives to promote the adoption of electric vehicles, including financial incentives and the development of charging infrastructure. This has led to a surge in the sales of electric scooters, as consumers seek more sustainable transportation options. 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 distances. This trend has gained traction in urban areas, where there is a high demand for convenient and flexible transportation options. Scooter-sharing services have become particularly popular among tourists and individuals who prefer not to own a scooter but still want access to one when needed.

Local special circumstances: Israel's compact size and well-developed infrastructure make it an ideal market for scooters. The country has a dense population and urban centers, which often face traffic congestion and limited parking spaces. Scooters offer a practical solution for navigating through crowded city streets and finding parking in tight spaces. Additionally, the warm climate in Israel makes scooters a comfortable and enjoyable mode of transportation throughout the year.

Underlying macroeconomic factors: The Scooters market in Israel has also been influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income for many consumers. This has allowed more individuals to afford scooters and contribute to the market's growth. Furthermore, the government's support for the development of the electric vehicle industry has created a favorable business environment for scooter manufacturers and retailers. Incentives such as tax breaks and subsidies for electric scooters have encouraged both consumers and businesses to invest in this market. In conclusion, the Scooters market in Israel is witnessing significant growth due to customer preferences for eco-friendly and cost-effective transportation options. The popularity of electric scooters and the emergence of scooter-sharing services are key trends in the market. Local special circumstances, such as the country's compact size and well-developed infrastructure, have also contributed to the market's development. Additionally, underlying macroeconomic factors, including steady economic growth and government support for the electric vehicle industry, have further fueled the growth of the Scooters market in Israel.

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.