Scooters - NAFTA | Statista Market Forecast

Scooters - NAFTA

NAFTA

Highlights

In 2024, the projected revenue in the Scooters market is estimated to reach US$896.20m.
This market segment is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 4.98%, leading to a projected market volume of US$1.14bn by 2029.
By that time, unit sales in the Scooters market are anticipated to reach 442.70k motorcyles.
It is worth noting that the volume weighted average price of the Scooters market in 2024 is expected to be US$2.45k.
When considering the international perspective, it becomes evident that the largest revenue in the Scooters market will be generated India, amounting to US$10.62bn in 2024.
This showcases the significant market potential within the NAFTA region.
In NAFTA countries, the scooter market is experiencing a surge in popularity due to increasing urbanization and the need for affordable and efficient transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in NAFTA is experiencing significant growth and development due to several key factors. Customer preferences for more sustainable and cost-effective transportation options, along with local special circumstances and underlying macroeconomic factors, are driving the trends in this market.

Customer preferences: Customers in NAFTA countries are increasingly opting for scooters as a mode of transportation due to their numerous advantages. Scooters are more fuel-efficient compared to traditional cars, making them a more sustainable option. Additionally, the rising cost of fuel and increasing environmental concerns have led customers to seek out alternative modes of transportation. Scooters offer a cost-effective solution, as they require less maintenance and have lower fuel consumption.

Trends in the market: One of the key trends in the Scooters market in NAFTA is the growing popularity of electric scooters. With advancements in battery technology, electric scooters have become a viable and eco-friendly alternative to traditional scooters. Customers are attracted to the lower operating costs and reduced environmental impact of electric scooters. This trend is expected to continue as governments in NAFTA countries implement policies to promote electric vehicles and reduce emissions. Another trend in the Scooters market is the increasing demand for scooters in urban areas. As cities become more congested, customers are turning to scooters as a convenient and efficient mode of transportation. Scooters allow for easy maneuverability in traffic and can be parked in small spaces, making them ideal for urban environments. This trend is particularly evident in densely populated cities where traffic congestion is a major issue.

Local special circumstances: In addition to customer preferences, there are also local special circumstances that are driving the development of the Scooters market in NAFTA. For example, in Mexico, the government has implemented policies to promote the use of scooters as a means of reducing traffic congestion and air pollution. This has led to increased sales and adoption of scooters in the country.

Underlying macroeconomic factors: Underlying macroeconomic factors also play a role in the development of the Scooters market in NAFTA. Economic growth and rising disposable incomes in the region have contributed to increased consumer spending on transportation. As customers have more purchasing power, they are more likely to consider alternative transportation options such as scooters. Additionally, the availability of financing options and favorable interest rates have made scooters more affordable and accessible to a wider range of customers. In conclusion, the Scooters market in NAFTA is experiencing growth and development due to customer preferences for sustainable and cost-effective transportation options, along with local special circumstances and underlying macroeconomic factors. The increasing popularity of electric scooters and the demand for scooters in urban areas are key trends in this market. As governments continue to promote the use of scooters and customers seek out more efficient transportation options, the Scooters market in NAFTA is expected to continue its upward trajectory.

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.