Scooters - Lithuania

Lithuania

Highlights

In Lithuania, the revenue in the Scooters market is projected to reach US$657.50k in 2024.
It is expected to show an annual growth rate of 6.93% from 2024 to 2029, resulting in a projected market volume of US$919.20k by 2029.
The unit sales in the Scooters market are expected to reach 142.00motorcyles in 2029.
The volume weighted average price of the Scooters market in 2024 is expected to amount to US$6.26k.
From an international perspective, it is shown that the most revenue will be generated India, with US$10.62bn in 2024.
With the growing popularity of electric scooters in Lithuania, the demand for eco-friendly transportation options is on the rise.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Lithuania has been experiencing significant growth in recent years. Customer preferences have shifted towards more sustainable and efficient modes of transportation, leading to an increased demand for scooters. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: In Lithuania, customers have shown a growing preference for scooters as a means of transportation. This can be attributed to several factors. Firstly, scooters offer a convenient and cost-effective way to navigate through urban areas, especially in congested cities. They are compact, lightweight, and easy to maneuver, making them ideal for short distance travel. Furthermore, scooters are environmentally friendly, emitting lower levels of greenhouse gases compared to traditional vehicles. This aligns with the increasing global concern for sustainability and the desire to reduce carbon footprints.

Trends in the market: The Scooters market in Lithuania has witnessed several key trends. One notable trend is the rise of electric scooters. With advancements in battery technology, electric scooters have become more efficient and affordable. They offer a cleaner and quieter alternative to traditional petrol-powered scooters, appealing to environmentally conscious consumers. The availability of charging infrastructure and government incentives for electric vehicles have further fueled the demand for electric scooters in Lithuania. Another trend in the market is the emergence of scooter-sharing services. These services provide users with the convenience of renting a scooter for short periods of time, eliminating the need for ownership. The popularity of scooter-sharing services can be attributed to the rise of the sharing economy and the desire for flexible transportation options. This trend has been particularly prominent in urban areas, where the demand for short and affordable transportation solutions is high.

Local special circumstances: Lithuania has a well-developed infrastructure and transportation system, which has facilitated the growth of the Scooters market. The country has a network of well-maintained roads and bike lanes, making it conducive for scooter usage. Additionally, the compact size of Lithuanian cities allows for easy navigation on scooters, providing a practical and efficient mode of transportation.

Underlying macroeconomic factors: The Scooters market in Lithuania has also been influenced by underlying macroeconomic factors. The country has experienced steady economic growth, leading to an increase in disposable income. As a result, consumers have more purchasing power and are able to afford scooters as an alternative mode of transportation. Furthermore, favorable government policies and incentives have encouraged the adoption of electric scooters, further driving the market growth. In conclusion, the Scooters market in Lithuania has experienced significant growth due to changing customer preferences, the emergence of new trends, local special circumstances, and underlying macroeconomic factors. The shift towards more sustainable transportation options, such as electric scooters, has played a significant role in the market development. The availability of scooter-sharing services and the well-developed infrastructure in Lithuania have also contributed to the increasing demand for scooters. With favorable economic conditions and government support, the Scooters market in Lithuania is expected to continue its upward trajectory in the coming years.

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.