Scooters - Kenya

Kenya

The projected revenue for the Scooters market in Kenya is expected to reach US$54.67m in 2024.
It is anticipated that the revenue will experience an annual growth rate of 3.29% from 2024 to 2029, resulting in a projected market volume of US$64.29m by 2029.
In the same year, Scooters market unit sales are expected to reach 54.20k motorcyles.
The volume weighted average price of Scooters market in Kenya in 2024 is projected to be US$1.13k.
Comparatively, it is interesting to note that India is expected to generate the highest revenue internationally with US$10,620.00m in 2024.
Eco-friendly electric scooters are gaining popularity in Kenya as a sustainable transportation solution in urban areas.

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

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Analyst Opinion

The Scooters market in Kenya has witnessed significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: One of the key factors driving the growth of the Scooters market in Kenya is the increasing demand for affordable and convenient transportation options. Scooters offer a cost-effective and efficient mode of transportation, particularly in congested urban areas. With rising urbanization and traffic congestion in cities like Nairobi, more people are turning to scooters as a practical and convenient means of commuting. Additionally, scooters are popular among younger consumers who are looking for a stylish and eco-friendly alternative to traditional modes of transportation.

Trends in the market: One of the major trends in the Scooters market in Kenya is the rise of electric scooters. As environmental concerns become more prominent, there is a growing demand for electric vehicles, including scooters. Electric scooters offer a cleaner and more sustainable mode of transportation, with lower emissions compared to their gasoline-powered counterparts. This trend is further supported by the government's efforts to promote electric mobility and reduce carbon emissions in the country. Another trend in the market is the increasing availability of scooter-sharing services. Similar to bike-sharing programs, scooter-sharing services allow users to rent scooters for short periods of time, providing a convenient and flexible transportation option. These services have gained popularity in urban areas, where they offer a convenient last-mile solution for commuters. The rise of smartphone apps and digital platforms has made it easier for users to locate and rent scooters, further fueling the growth of this trend.

Local special circumstances: One of the key factors contributing to the growth of the Scooters market in Kenya is the inadequate public transportation infrastructure. Many cities in Kenya face challenges in terms of transportation infrastructure, with limited options for public transportation. This has created a gap in the market, which scooters are able to fill by providing a flexible and affordable mode of transportation. Additionally, the relatively small size and maneuverability of scooters make them well-suited for navigating through congested city streets, further increasing their appeal.

Underlying macroeconomic factors: The growth of the Scooters market in Kenya is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in an expanding middle class and increased disposable income. As a result, more consumers are able to afford personal transportation options like scooters. Furthermore, the government's efforts to improve road infrastructure and reduce traffic congestion have also contributed to the growth of the Scooters market. In conclusion, the Scooters market in Kenya is experiencing significant growth due to changing customer preferences, including the demand for affordable and convenient transportation options. The rise of electric scooters and scooter-sharing services are also shaping the market. Local special circumstances, such as inadequate public transportation infrastructure, and underlying macroeconomic factors, such as economic growth and government initiatives, are further driving 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.