Scooters - Nordics

Nordics

In 2024, it is projected that the Scooters market in the Nordics will generate a revenue of US$18.85m.
Looking ahead, this market is expected to experience an annual growth rate (CAGR 2024-2029) of 1.81%, leading to a projected market volume of US$20.62m by 2029.
By that year, it is anticipated that the unit sales in the Scooters market will reach 3.37k motorcyles.
Furthermore, the volume weighted average price for Scooters market in 2024 is expected to be US$5.98k.
From a global perspective, it is worth noting that India is expected to generate the highest revenue in the Scooters market, with an estimated amount of US$10,620.00m in 2024.
In the Nordics, the scooter market is booming with a strong preference for electric scooters due to the region's commitment to sustainability.

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

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Region comparison

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Analyst Opinion

The Scooters market in Nordics is experiencing significant growth and development.

Customer preferences: In recent years, there has been a growing preference for scooters as a mode of transportation in the Nordics. This can be attributed to several factors. Firstly, scooters offer a convenient and eco-friendly alternative to traditional modes of transportation such as cars or public transport. They are compact, easy to maneuver, and can navigate through congested urban areas with ease. Additionally, scooters are cost-effective, requiring less maintenance and fuel compared to cars. This appeals to cost-conscious consumers who are looking for affordable transportation options. Furthermore, the younger generation in the Nordics is increasingly embracing the scooter culture, seeing it as a trendy and fashionable way to get around.

Trends in the market: One of the key trends in the scooter market in the Nordics is the rise of electric scooters. With a growing focus on sustainability and reducing carbon emissions, electric scooters have gained popularity among consumers. These scooters are powered by rechargeable batteries, eliminating the need for fossil fuels. They offer a clean and quiet mode of transportation, making them particularly appealing in urban areas where noise and air pollution are major concerns. The availability of electric charging infrastructure has also contributed to the growth of electric scooters in the region. Another trend in the scooter market is the emergence of scooter-sharing services. These services allow users to rent scooters for short periods of time, providing a flexible and convenient transportation option. The rise of smartphone apps has made it easier for consumers to locate and unlock scooters, further boosting the popularity of scooter-sharing services. This trend is driven by the increasing demand for shared mobility solutions and the desire for on-demand transportation.

Local special circumstances: The Nordics, with its well-developed infrastructure and bike-friendly cities, provide an ideal environment for the growth of the scooter market. The region is known for its extensive network of cycling lanes and bike-sharing programs, which have laid the foundation for the adoption of scooters. The cold climate in the Nordics also plays a role in the popularity of scooters. Unlike bicycles, scooters offer a more comfortable and practical mode of transportation during the winter months when snow and ice make cycling difficult.

Underlying macroeconomic factors: The strong economic growth in the Nordics, coupled with high disposable incomes, has contributed to the development of the scooter market. Consumers in the region have the financial means to purchase scooters and are willing to invest in sustainable and convenient transportation options. Additionally, government initiatives promoting sustainable mobility and reducing car usage have created a favorable regulatory environment for the scooter market. Subsidies and incentives for electric scooters, along with the expansion of charging infrastructure, have further stimulated the market. In conclusion, the scooter market in the Nordics is experiencing growth due to customer preferences for convenient and eco-friendly transportation options, the rise of electric scooters, the emergence of scooter-sharing services, the region's bike-friendly infrastructure, and favorable macroeconomic factors.

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.