Scooters - Puerto Rico

Puerto Rico

Highlights

In 2024, it is projected that the revenue in the Scooters market in Puerto Rico will reach US$1.73m.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 0.44%, resulting in a projected market volume of US$1.76m by 2029.
By that year, it is anticipated that the unit sales in the Scooters market will reach 1.15k motorcyles.
The volume weighted average price of the Scooters market in 2024 is expected to amount to US$1.53k.
From an international perspective, it is shown that the most revenue will be generated India, with a projected revenue of US$10.62bn in 2024.
The popularity of electric scooters is on the rise in Puerto Rico, as residents embrace eco-friendly transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Puerto Rico is experiencing significant growth in recent years. Customer preferences for eco-friendly transportation options and the convenience of scooters have contributed to this trend. Additionally, local special circumstances and underlying macroeconomic factors have played a role in shaping the market. Customer preferences in Puerto Rico have shifted towards eco-friendly transportation options, and scooters are seen as a sustainable alternative to traditional vehicles. With increasing concerns about air pollution and the environmental impact of gasoline-powered vehicles, many consumers are opting for scooters as a greener mode of transportation. The compact size and maneuverability of scooters also make them a popular choice for navigating the congested streets of Puerto Rico's cities. In addition to environmental considerations, customer preferences for scooters are also driven by their convenience. Scooters offer a cost-effective and efficient way to travel short distances, particularly in urban areas. They are easy to park and require less space than cars, making them a practical choice for Puerto Rico's crowded streets. Furthermore, the affordability of scooters compared to cars makes them an attractive option for budget-conscious consumers. The trends in the Scooters market in Puerto Rico are also influenced by local special circumstances. Puerto Rico is an island territory with limited land area, which makes it challenging to accommodate a large number of vehicles. The compact size of scooters makes them a suitable choice for navigating the island's narrow roads and crowded cities. Additionally, the warm climate and scenic landscapes of Puerto Rico make scooters an appealing option for tourists who want to explore the island. Underlying macroeconomic factors have also contributed to the growth of the Scooters market in Puerto Rico. The cost of owning and maintaining a car in Puerto Rico is relatively high, including expenses such as insurance, fuel, and parking fees. As a result, many consumers are turning to scooters as a more affordable alternative. The economic downturn in recent years has also made scooters a popular choice among budget-conscious consumers who are looking for cost-effective transportation options. In conclusion, the Scooters market in Puerto Rico is witnessing significant growth due to customer preferences for eco-friendly and convenient transportation options. The compact size and maneuverability of scooters make them a practical choice for navigating the island's crowded streets. Additionally, underlying macroeconomic factors such as the high cost of car ownership and the economic downturn have contributed to the increasing popularity of scooters in Puerto Rico.

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.