Scooters - Laos | Statista Market Forecast

Scooters - Laos

Laos

Highlights

The projected revenue for the Scooters market in Laos is expected to reach US$3.52m in 2024.
It is further anticipated that there will be an annual growth rate of 2.77%, resulting in a projected market volume of US$4.03m by 2029.
In 2029, it is predicted that the unit sales for the Scooters market will reach 2.16k motorcyles.
The volume weighted average price for the Scooters market in 2024 is expected to be US$1.70k.
When looking at the international perspective, India is projected to generate the highest revenue in the Scooters market, amounting to US$10.62bn in 2024.
The popularity of electric scooters is surging in Laos as residents seek convenient and eco-friendly transportation options in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Laos has been experiencing significant growth in recent years, driven by changing customer preferences and favorable market trends. Customer preferences in the Scooters market in Laos have shifted towards more eco-friendly and cost-effective modes of transportation. Scooters offer a convenient and efficient way to navigate through the country's congested roads and are particularly popular among urban dwellers. Additionally, the younger generation is increasingly embracing scooters as a trendy and fashionable means of transportation. Trends in the market indicate a growing demand for electric scooters in Laos. As the country strives to reduce its carbon footprint and promote sustainable transportation, electric scooters have gained popularity. These scooters offer a cleaner and quieter alternative to traditional fuel-powered scooters, making them an attractive option for environmentally conscious consumers. Furthermore, the government has introduced incentives and subsidies to encourage the adoption of electric scooters, further driving their demand in the market. Local special circumstances in Laos also contribute to the development of the Scooters market. The country's infrastructure is still developing, with limited public transportation options in many areas. This creates a need for personal modes of transportation, and scooters offer a practical solution. Additionally, the relatively low cost of scooters compared to cars or motorcycles makes them an affordable option for many consumers in Laos. Underlying macroeconomic factors also play a role in the growth of the Scooters market in Laos. The country's economy has been steadily growing, leading to an increase in disposable income for many individuals. This has allowed more people to afford scooters and contribute to the market's expansion. Furthermore, the government's efforts to improve road connectivity and infrastructure development have made scooters a viable mode of transportation for a larger population. In conclusion, the Scooters market in Laos is experiencing growth due to changing customer preferences, favorable market trends, local special circumstances, and underlying macroeconomic factors. The shift towards eco-friendly transportation options, such as electric scooters, is driving the market's development. Additionally, the need for personal transportation in areas with limited public transportation options and the affordability of scooters compared to other vehicles contribute to their popularity in Laos. The country's growing economy and infrastructure development further support the expansion of the Scooters market.

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.