Scooters - Lebanon

Lebanon

Highlights

Lebanon is projected to witness a substantial increase in revenue in the Scooters market, reaching US$1.95m in 2024.
This market is expected to experience a steady annual growth rate of -1.45% from 2024 to 2029, resulting in a projected market volume of US$1.81m by the end of 2029.
Moreover, unit sales in the Scooters market are forecasted to reach 895.00motorcyles by 2029.
In the year 2024, the volume weighted average price of Scooters market in Lebanon is expected to be US$1.91k.
However, when looking at the international market, it is evident that India will generate the highest revenue in the Scooters market, reaching an impressive US$10.62bn in 2024.
Lebanon's market for scooters is experiencing a surge in popularity due to the country's congested urban areas and the rising demand for efficient and affordable transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Lebanese customers have shown a growing preference for scooters due to their numerous advantages. Scooters are more fuel-efficient compared to traditional vehicles, making them a cost-effective transportation option. With rising fuel prices, customers are looking for alternative means of transportation that can help them save money on fuel expenses. Scooters also offer greater maneuverability in congested urban areas, allowing customers to navigate through traffic more easily. Furthermore, scooters are seen as a more environmentally friendly option, as they produce fewer emissions compared to cars.

Trends in the market: One of the key trends in the Scooters market in Lebanon is the increasing popularity of electric scooters. As customers become more conscious about environmental issues, there has been a growing demand for electric scooters that produce zero emissions. Electric scooters also offer lower maintenance costs and a quieter ride, making them attractive to customers. In response to this trend, both local and international scooter manufacturers have been introducing a wide range of electric scooter models to the Lebanese market. Another trend observed in the Scooters market in Lebanon is the rise of scooter-sharing services. Similar to bike-sharing services, scooter-sharing platforms have gained popularity in urban areas, providing customers with a convenient and affordable transportation option for short distances. These services have been successful in attracting a younger demographic who prefer the flexibility and convenience of renting a scooter for short trips. The availability of scooter-sharing services has further fueled the demand for scooters in Lebanon.

Local special circumstances: Lebanon's congested urban areas and limited parking spaces have contributed to the growing demand for scooters. With heavy traffic and difficulty finding parking, scooters offer a practical solution for commuting within the city. Scooters are easier to park and maneuver in tight spaces, allowing customers to navigate through crowded streets more efficiently.

Underlying macroeconomic factors: The economic situation in Lebanon has also played a role in the development of the Scooters market. The country has been facing economic challenges, including high unemployment rates and inflation. As a result, customers are looking for cost-effective transportation options that can help them save money. Scooters offer a more affordable alternative to cars, making them an attractive choice for customers looking to reduce their transportation expenses. In conclusion, the Scooters market in Lebanon has been growing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Customers in Lebanon are increasingly opting for scooters as a cost-effective and eco-friendly transportation option. The rise of electric scooters and scooter-sharing services further reflects the evolving trends in the market. With the ongoing economic challenges in the country, scooters provide a practical solution for customers looking to save money on transportation expenses.

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.