Scooters - Pakistan

Pakistan

The projected revenue in the Scooters market in Pakistan is expected to reach US$0.56bn by 2024.
This market is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.70%, resulting in a projected market volume of US$0.58bn by 2029.
Moreover, it is estimated that the unit sales in the Scooters market will reach 0.51m motorcyles by 2029.
The volume weighted average price of Scooters market in Pakistan in 2024 is expected to be US$1.01k.
Additionally, when looking at the international market, it is observed that the highest revenue is projected to be generated India, amounting to US$10,620.00m in 2024.
The demand for electric scooters in Pakistan is rapidly increasing due to the country's focus on reducing pollution and promoting sustainable transportation.

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

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Analyst Opinion

The Scooters market in Pakistan is experiencing a significant growth in recent years.

Customer preferences: In Pakistan, scooters have become increasingly popular among the urban population. This can be attributed to several factors. Firstly, the compact size and maneuverability of scooters make them ideal for navigating through crowded city streets and congested traffic. Secondly, the affordability of scooters compared to cars or motorcycles makes them an attractive option for individuals looking for a cost-effective mode of transportation. Additionally, the increasing awareness of environmental issues has led to a growing demand for eco-friendly transportation options, and scooters fit the bill perfectly.

Trends in the market: One of the key trends in the Scooters market in Pakistan is the rise of electric scooters. As the government and consumers alike become more conscious of the environmental impact of traditional fuel-powered vehicles, there has been a shift towards electric scooters. These scooters are not only environmentally friendly but also offer cost savings in terms of fuel consumption. Furthermore, advancements in battery technology have led to improved range and charging times, making electric scooters a practical choice for daily commuting. Another trend in the market is the increasing availability of scooter-sharing services. Similar to the popular bike-sharing services, scooter-sharing platforms have emerged in major cities across Pakistan. These services provide convenient and affordable transportation options for short trips, and they have gained popularity among the younger population who are looking for flexible and convenient ways to get around the city.

Local special circumstances: Pakistan's rapidly growing urban population and the increasing number of women entering the workforce have contributed to the rising demand for scooters. As more people move to cities and face challenges such as traffic congestion and limited parking spaces, scooters offer a practical solution for daily commuting. Additionally, scooters provide a sense of independence and freedom for women who may face cultural or logistical barriers to using public transportation.

Underlying macroeconomic factors: The economic growth in Pakistan has led to an increase in disposable income among the middle class. This has allowed more individuals to afford personal vehicles, including scooters. Additionally, the government has implemented policies to promote the manufacturing and use of electric vehicles, including scooters, which has further boosted the market. In conclusion, the Scooters market in Pakistan is experiencing growth due to customer preferences for compact and affordable transportation options, the rise of electric scooters, the availability of scooter-sharing services, the local special circumstances of urbanization and women's empowerment, and the underlying macroeconomic factors of economic growth and government support.

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.