Scooters - Malaysia

Malaysia

Highlights

The Scooters market in Malaysia is projected to achieve a revenue of US$508.00m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 3.91%, leading to a projected market volume of US$615.30m by 2029.
Furthermore, the unit sales of Scooters market in Malaysia are estimated to reach 207.60k motorcyles by 2029.
The volume weighted average price of the Scooters market in Malaysia is expected to be US$2.74k in 2024.
It is worth noting that, on an international scale, the highest revenue in the Scooters market is anticipated to be generated India, amounting to US$10.62bn in 2024.
The rise in popularity of electric scooters in Malaysia is driven by the country's commitment to reducing carbon emissions and promoting sustainable transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Malaysia has been experiencing significant growth in recent years. Customer preferences for scooters have shifted towards more fuel-efficient and environmentally friendly modes of transportation. This trend is driven by a combination of factors, including rising fuel prices, increased awareness of environmental issues, and the convenience and ease of use that scooters offer.

Customer preferences: In Malaysia, customer preferences for scooters have been influenced by several factors. Firstly, rising fuel prices have made scooters an attractive option for many consumers. Scooters are known for their fuel efficiency, allowing consumers to save money on transportation costs. Additionally, scooters are often more affordable than cars or motorcycles, making them a popular choice for budget-conscious consumers. Another key factor driving customer preferences is the increasing awareness of environmental issues. Scooters produce lower emissions compared to cars and motorcycles, making them a more environmentally friendly mode of transportation. As consumers become more conscious of their carbon footprint, many are choosing scooters as a greener alternative.

Trends in the market: One of the key trends in the Scooters market in Malaysia is the growing popularity of electric scooters. Electric scooters offer even greater fuel efficiency and zero emissions, making them an attractive option for environmentally conscious consumers. The availability of charging infrastructure and government incentives for electric vehicles have also contributed to the growth of the electric scooter market. Another trend in the market is the introduction of more stylish and feature-rich scooters. Manufacturers are focusing on designing scooters that appeal to younger consumers who prioritize style and aesthetics. These scooters often come with advanced features such as digital displays, smartphone connectivity, and anti-lock braking systems, enhancing the overall riding experience.

Local special circumstances: Malaysia's urban areas are characterized by heavy traffic congestion, especially during peak hours. This has led to an increased demand for scooters as a convenient and agile mode of transportation. Scooters are able to navigate through traffic more easily than cars or motorcycles, allowing commuters to save time and avoid the frustration of being stuck in traffic.

Underlying macroeconomic factors: The growing Scooters market in Malaysia is also influenced by underlying macroeconomic factors. The country's economic growth has led to an increase in disposable income, enabling more consumers to afford scooters. Additionally, the government has implemented policies to promote the use of scooters as a means of reducing traffic congestion and air pollution, further driving the market growth. In conclusion, the Scooters market in Malaysia is experiencing growth due to customer preferences for fuel-efficient and environmentally friendly transportation options. The popularity of scooters is driven by rising fuel prices, increasing awareness of environmental issues, and the convenience they offer in congested urban areas. The market is also influenced by the introduction of electric scooters and the availability of stylish and feature-rich models. Overall, the growth of the Scooters market in Malaysia is supported by underlying macroeconomic factors such as economic growth and government policies.

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.