Scooters - North Macedonia

North Macedonia

In 2024, the revenue in the Scooters market in North Macedonia is projected to reach US$1.15m.
It is expected to show an annual growth rate of 3.26% from 2024 to 2029, resulting in a projected market volume of US$1.35m by 2029.
The unit sales in the Scooters market are expected to reach 0.51k motorcyles in 2029.
The volume weighted average price of the Scooters market in 2024 is projected to be US$2.55k.
From an international perspective, it is shown that the most revenue will be generated India, with US$10,620.00m in 2024.
Despite the increasing popularity of electric scooters in many European countries, North Macedonia still predominantly relies on traditional petrol-powered scooters.

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

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Analyst Opinion

The Scooters market in North Macedonia has been experiencing significant growth in recent years. Customer preferences for Scooters have shifted towards more environmentally friendly and cost-effective modes of transportation. This trend is driven by the increasing awareness of the negative impact of traditional gasoline-powered vehicles on the environment and the rising fuel prices. Additionally, the government has implemented policies to promote the use of electric vehicles, including Scooters, by offering incentives such as tax breaks and subsidies.

Customer preferences: Customers in North Macedonia are increasingly choosing Scooters as their preferred mode of transportation due to several factors. Firstly, Scooters are more fuel-efficient compared to traditional gasoline-powered vehicles, making them a cost-effective option for daily commuting. The rising fuel prices in the country have further incentivized customers to opt for Scooters, as they offer significant savings on fuel expenses. Moreover, Scooters are compact and easy to maneuver, making them ideal for navigating through the country's congested urban areas.

Trends in the market: The Scooters market in North Macedonia is witnessing a surge in the demand for electric Scooters. This trend is in line with the global shift towards electric vehicles, driven by the need to reduce carbon emissions and combat climate change. Electric Scooters offer several advantages over their gasoline-powered counterparts, including zero emissions, lower maintenance costs, and quieter operation. As a result, many customers are choosing electric Scooters as a sustainable and eco-friendly transportation option.

Local special circumstances: North Macedonia has a unique geographical landscape, with many hilly and mountainous regions. This poses challenges for traditional gasoline-powered vehicles, as they may struggle to navigate steep slopes and rough terrains. However, Scooters, especially electric ones, are well-suited for these conditions due to their lightweight design and powerful electric motors. This makes Scooters a popular choice for customers living in rural areas or those who frequently travel through challenging terrains.

Underlying macroeconomic factors: The growing Scooters market in North Macedonia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income levels. This has allowed more individuals to afford Scooters as a means of transportation. Additionally, the government's focus on promoting sustainable development and reducing carbon emissions has created a favorable environment for the growth of the Scooters market. The availability of government incentives and subsidies has further incentivized customers to switch to Scooters, contributing to the market's expansion. In conclusion, the Scooters market in North Macedonia is experiencing significant growth due to changing customer preferences, increasing demand for electric vehicles, local special circumstances, and underlying macroeconomic factors. As customers prioritize cost-effective and environmentally friendly transportation options, the demand for Scooters, especially electric ones, is expected to continue to rise 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.