Scooters - Myanmar

Myanmar

In 2024, the projected revenue in the Scooters market in Myanmar is expected to reach US$8.58m.
This forecast indicates that the revenue will experience an annual growth rate of 0.09% from 2024 to 2029, resulting in a projected market volume of US$8.62m by 2029.
By that time, Scooters market unit sales are expected to reach 3.20k motorcyles.
Furthermore, the volume weighted average price of the Scooters market in Myanmar is projected to be US$2.62k in 2024.
It is worth noting that from an international perspective, India is anticipated to generate the highest revenue in the Scooters market, with a staggering US$10,620.00m in 2024.
Myanmar's scooter market is experiencing a significant growth due to the government's focus on infrastructure development and the rising demand for affordable, efficient transportation options in the country.

Key regions: United States, Brazil, Spain, Indonesia, Portugal

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Analyst Opinion

The Scooters market in Myanmar has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: In Myanmar, customer preferences for transportation have been shifting towards scooters due to their affordability, fuel efficiency, and ease of maneuverability in congested urban areas. Scooters are particularly popular among young adults and students who are looking for a convenient and cost-effective mode of transportation. Additionally, the growing middle-class population in Myanmar has increased the demand for scooters as a status symbol and a means of personal transportation.

Trends in the market: One of the key trends in the Scooters market in Myanmar is the increasing demand for electric scooters. With concerns about environmental pollution and rising fuel prices, many consumers are opting for electric scooters as a greener and more economical alternative. This trend is expected to continue as the government promotes sustainable transportation and implements policies to encourage the adoption of electric vehicles. Another trend in the Scooters market is the rise of ride-sharing services using scooters. Similar to other countries, ride-sharing platforms have gained popularity in Myanmar, offering affordable transportation options to consumers. Scooters are well-suited for these services due to their compact size and low operational costs. This trend has not only increased the demand for scooters but has also created opportunities for scooter rental and sharing companies.

Local special circumstances: Myanmar's infrastructure and road conditions present unique challenges and opportunities for the Scooters market. The country has a large rural population, and scooters provide an affordable and practical mode of transportation in these areas with limited access to public transportation. Furthermore, the rapid urbanization and increasing traffic congestion in major cities like Yangon and Mandalay have made scooters a popular choice for commuting.

Underlying macroeconomic factors: The growing economy and rising disposable incomes in Myanmar have contributed to the expansion of the Scooters market. As the country continues to develop, more individuals are able to afford scooters as a means of personal transportation. Additionally, the government's efforts to improve road infrastructure and transportation networks have further facilitated the growth of the Scooters market. In conclusion, the Scooters market in Myanmar is experiencing growth due to changing customer preferences, emerging trends such as the demand for electric scooters and ride-sharing services, local special circumstances including infrastructure challenges, and underlying macroeconomic factors such as the growing economy and rising disposable incomes. These factors are expected to continue driving the growth of the Scooters market in Myanmar in the coming years.

Methodology

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.