Scooters - Norway

Norway

In 2024, the revenue in the Scooters market in Norway is projected to reach US$3.36m.
It is expected that this revenue will show an annual growth rate of 1.89%, resulting in a projected market volume of US$3.69m by 2029.
Furthermore, it is anticipated that the unit sales in the Scooters market will reach 0.61k motorcyles in 2029.
The volume weighted average price of the Scooters market in Norway in 2024 is expected to be US$5.87k.
When considering the international perspective, it is worth noting that the highest revenue is expected to be generated India, with a projected revenue of US$10,620.00m in 2024.
Norway's growing scooter market is driven by the country's commitment to sustainable transportation and its well-developed infrastructure.

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

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Analyst Opinion

The Scooters market in Norway has experienced significant growth in recent years, driven by changing customer preferences and favorable local special circumstances.

Customer preferences: One of the key factors driving the growth of the Scooters market in Norway is the increasing preference for eco-friendly transportation options. With growing concerns about climate change and air pollution, more and more consumers are looking for alternative modes of transportation that have a lower environmental impact. Scooters, particularly electric scooters, have emerged as a popular choice among environmentally conscious consumers. These scooters offer a clean and efficient mode of transportation, with zero emissions and lower fuel consumption compared to traditional vehicles.

Trends in the market: The Scooters market in Norway has witnessed a surge in demand for electric scooters. This trend can be attributed to several factors. Firstly, the government has implemented favorable policies and incentives to promote the adoption of electric vehicles, including scooters. This has led to increased awareness and affordability of electric scooters, making them an attractive option for consumers. Secondly, the advancements in battery technology have significantly improved the performance and range of electric scooters, addressing the concerns of limited battery life and range anxiety. As a result, consumers are more willing to consider electric scooters as a viable mode of transportation.

Local special circumstances: Norway's unique geography and infrastructure also contribute to the growth of the Scooters market. The country has a well-developed network of bicycle lanes and paths, making it conducive for scooters to navigate through urban areas. Additionally, the compact size of scooters makes them ideal for maneuvering through crowded city streets and finding parking spaces, which can be a challenge for larger vehicles. These factors make scooters a convenient and practical choice for commuting in urban areas.

Underlying macroeconomic factors: The growth of the Scooters market in Norway is also influenced by underlying macroeconomic factors. The country has a high standard of living and disposable income, which enables consumers to afford and invest in alternative transportation options. Additionally, the government's focus on sustainable development and reducing carbon emissions aligns with the increasing demand for eco-friendly transportation solutions. This creates a supportive environment for the growth of the Scooters market. In conclusion, the Scooters market in Norway is experiencing significant growth due to changing customer preferences towards eco-friendly transportation options, the increasing demand for electric scooters, favorable local special circumstances, and underlying macroeconomic factors. As consumers become more conscious about the environment and seek convenient and sustainable transportation solutions, the Scooters market is expected to continue its upward trajectory in Norway.

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.