Key regions: United States, Brazil, Spain, Indonesia, Portugal
The Scooters market in Mongolia is experiencing significant growth and development, driven by several key factors. Customer preferences for convenient and cost-effective transportation options, along with local special circumstances, have contributed to the increasing demand for scooters in the country. Additionally, underlying macroeconomic factors have played a role in shaping the current trends in the market. Customer preferences in Mongolia have shifted towards more practical and efficient transportation options, leading to a rise in the popularity of scooters. With increasing urbanization and traffic congestion in major cities, customers are seeking alternatives to traditional modes of transportation. Scooters offer a convenient and agile solution for navigating through crowded streets and reaching destinations quickly. Moreover, the low maintenance and fuel costs associated with scooters make them an attractive choice for cost-conscious consumers. Trends in the Scooters market in Mongolia also reflect global and regional developments. The growing awareness of environmental sustainability and the need to reduce carbon emissions have influenced consumer choices. Scooters, being more fuel-efficient and emitting fewer pollutants compared to cars, align with the global trend towards greener transportation options. This has further contributed to the increasing demand for scooters in Mongolia. Local special circumstances, such as the geographical landscape and weather conditions, also play a role in the development of the Scooters market. Mongolia is known for its vast open spaces and challenging terrains, making scooters a practical choice for navigating through various landscapes. Additionally, the relatively mild climate in Mongolia allows for year-round scooter usage, further enhancing their appeal to customers. Underlying macroeconomic factors have also influenced the growth of the Scooters market in Mongolia. Economic stability and increasing disposable incomes have made scooters more affordable and accessible to a larger segment of the population. As the economy continues to grow, more individuals are able to afford personal transportation options, leading to an increased demand for scooters. In conclusion, the Scooters market in Mongolia is witnessing significant growth and development due to customer preferences for convenient and cost-effective transportation options, global and regional trends towards greener transportation, local special circumstances, and underlying macroeconomic factors. As these factors continue to shape the market, the demand for scooters is expected to further increase 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.
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