Scooters - North America

North America

In 2024, the Scooters market in North America is projected to generate a revenue of US$0.90bn.
This market is expected to experience an annual growth rate of 4.84% (CAGR 2024-2029), leading to a projected market volume of US$1.14bn by 2029.
By that year, unit sales in the Scooters market are expected to reach 0.44m motorcyles.
The volume weighted average price of Scooters market in North America is anticipated to be US$2.45k in 2024.
Looking at the international perspective, it is worth noting that the highest revenue is projected to be generated India, with US$10,620.00m in 2024.
In North America, the market for electric scooters is rapidly growing as consumers embrace eco-friendly and cost-effective transportation options.

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

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Analyst Opinion

The Scooters market in North America has experienced significant growth in recent years, driven by changing consumer preferences and favorable market conditions.

Customer preferences: Customers in North America are increasingly looking for convenient and eco-friendly transportation options, which has contributed to the rising popularity of scooters. Scooters offer a cost-effective and efficient mode of transportation, particularly for short distances in urban areas. Additionally, the compact size and maneuverability of scooters make them ideal for navigating through traffic and finding parking in crowded cities.

Trends in the market: One major trend in the North American Scooters market is the increasing adoption of electric scooters. With growing concerns about climate change and air pollution, consumers are seeking alternative modes of transportation that have a lower environmental impact. Electric scooters provide a clean and sustainable option, as they produce zero emissions and are powered by rechargeable batteries. This trend is further supported by advancements in battery technology, which have improved the range and performance of electric scooters. Another trend in the market is the rise of scooter-sharing services. Similar to bike-sharing programs, scooter-sharing services allow users to rent scooters for short periods of time, typically through a mobile app. These services have gained popularity in urban areas, providing a convenient and flexible transportation option for both residents and tourists. The availability of scooter-sharing services has also contributed to the overall growth of the Scooters market, as it introduces scooters to new users who may not have considered purchasing one.

Local special circumstances: The development of the Scooters market in North America is influenced by various local factors. One such factor is the increasing investment in infrastructure to support alternative modes of transportation. Many cities in North America have implemented bike lanes and designated parking areas for scooters, making it easier and safer for riders to use scooters as a means of transportation. Additionally, some cities have implemented regulations and licensing requirements for scooter-sharing services to ensure the safety of riders and pedestrians.

Underlying macroeconomic factors: The growth of the Scooters market in North America is also supported by favorable macroeconomic conditions. The region has experienced steady economic growth, leading to increased disposable income and consumer spending. As a result, more individuals are able to afford scooters and are willing to invest in them as a mode of transportation. Furthermore, the availability of financing options and affordable pricing has made scooters more accessible to a wider range of consumers. In conclusion, the Scooters market in North America is experiencing growth due to changing customer preferences for convenient and eco-friendly transportation options. The increasing adoption of electric scooters and the rise of scooter-sharing services are key trends driving this market growth. Local factors such as infrastructure development and regulations also contribute to the market's development. Additionally, favorable macroeconomic conditions, including steady economic growth and increased consumer spending, support the growth of the Scooters market in North America.

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.