Scooters - Montenegro

Montenegro

Highlights

The projected revenue in the Scooters market in Montenegro is expected to reach US$186.20k by 2024.
Furthermore, it is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 4.24%, resulting in a projected market volume of US$229.20k by 2029.
Additionally, the unit sales of Scooters market in Montenegro are projected to reach 78.00motorcyles by 2029.
The volume weighted average price of the Scooters market in Montenegro is expected to amount to US$2.74k in 2024.
When considering the international scenario, it is evident that India is poised to generate the highest revenue, with an estimated amount of US$10.62bn in 2024.
Montenegro's scooter market is booming due to the country's picturesque coastal roads and increasing popularity of eco-friendly transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Montenegro is experiencing significant growth and development in recent years.

Customer preferences: Customers in Montenegro are increasingly opting for scooters as a convenient and cost-effective mode of transportation. Scooters offer several advantages over traditional cars, such as lower fuel consumption, easier parking, and lower maintenance costs. Additionally, scooters are popular among younger consumers who value their stylish design and compact size.

Trends in the market: One of the key trends in the Montenegrin Scooters market is the increasing demand for electric scooters. With growing concerns about environmental pollution and the need for sustainable transportation options, electric scooters have gained popularity among consumers. These scooters offer zero-emission mobility and are seen as a greener alternative to traditional petrol-powered scooters. The availability of charging infrastructure and government incentives for electric vehicle adoption have further fueled the demand for electric scooters in Montenegro. Another trend in the market is the rise of scooter-sharing services. Similar to bike-sharing services, scooter-sharing platforms have emerged in major cities in Montenegro, offering users the convenience of renting a scooter for short trips. These services have gained traction among tourists and locals alike, as they provide a flexible and affordable transportation option. The ease of use and convenience of scooter-sharing services have contributed to the growth of the Scooters market in Montenegro.

Local special circumstances: Montenegro is known for its picturesque landscapes and tourist attractions. The country attracts a significant number of tourists each year, and scooters have become a popular choice for exploring the scenic routes and coastal areas. The rental market for scooters has grown in response to the demand from tourists who want to experience the beauty of Montenegro on two wheels. This has created a unique opportunity for scooter manufacturers and rental companies to cater to the needs of tourists and capitalize on the tourism industry.

Underlying macroeconomic factors: The growing Scooters market in Montenegro can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, more individuals are able to afford scooters as a means of personal transportation. Additionally, the government has implemented policies to support the automotive industry, including incentives for electric vehicle adoption and the development of charging infrastructure. These factors have created a conducive environment for the growth of the Scooters market in Montenegro. In conclusion, the Scooters market in Montenegro is witnessing significant growth and development, driven by customer preferences for convenient and cost-effective transportation options. The increasing demand for electric scooters and the rise of scooter-sharing services are key trends in the market. The country's unique tourism industry and favorable macroeconomic factors further contribute to the growth of the Scooters market in Montenegro.

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.