Scooters - Southern Europe

Southern Europe

Highlights

In Southern Europe, the revenue in the Scooters market is projected to reach US$1.03bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 3.69%, resulting in a projected market volume of US$1.24bn by 2029.
By that time, unit sales in the Scooters market are expected to reach 292.50k motorcyles.
The volume weighted average price of the Scooters market in 2024 is projected to amount to US$4.17k.
When looking at the international perspective, it is evident that the most revenue will be generated India, with an estimated amount of US$10.62bn in 2024.
In Southern Europe, scooters are increasingly becoming the preferred mode of transportation due to their agility and efficiency in navigating the region's narrow and congested city streets.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Southern Europe has been experiencing significant growth in recent years.

Customer preferences: One of the key reasons for the growth of the Scooters market in Southern Europe is the increasing preference for eco-friendly and cost-effective transportation options. Scooters are seen as a sustainable alternative to cars, as they emit lower levels of greenhouse gases and consume less fuel. Additionally, the compact size and maneuverability of scooters make them ideal for navigating through the narrow streets and heavy traffic in many Southern European cities.

Trends in the market: One of the major trends in the Scooters market in Southern Europe is the rising demand for electric scooters. With the increasing focus on sustainability and environmental conservation, many consumers are opting for electric scooters over traditional gasoline-powered ones. Electric scooters offer the advantage of being quieter, emitting zero emissions, and being more cost-effective in the long run due to lower maintenance and fuel costs. Furthermore, the availability of government incentives and subsidies for electric vehicles has further fueled the demand for electric scooters in Southern Europe. Another trend in the Scooters market in Southern Europe is the growing popularity of scooter-sharing services. Similar to bike-sharing services, scooter-sharing platforms have gained traction in many cities across Southern Europe. These services allow users to rent scooters for short periods, providing a convenient and flexible mode of transportation for urban dwellers. The convenience and affordability of scooter-sharing services have attracted a large number of customers, especially in densely populated areas with limited parking spaces.

Local special circumstances: Southern Europe is known for its warm climate and favorable weather conditions, which make scooters an attractive mode of transportation for both locals and tourists. The ability to enjoy the outdoors and navigate through scenic routes on a scooter adds to the overall appeal of this mode of transportation in the region. Additionally, the relatively shorter distances between cities and towns in Southern Europe make scooters a practical choice for commuting and exploring the region.

Underlying macroeconomic factors: The Scooters market in Southern Europe is also influenced by various macroeconomic factors. The economic recovery in the region after the global financial crisis has led to increased consumer spending power, allowing more individuals to afford scooters. Additionally, the high levels of urbanization in Southern Europe, coupled with the need for efficient and affordable transportation, have contributed to the growth of the Scooters market. The presence of well-developed transportation infrastructure and supportive government policies further facilitate the adoption of scooters in the region.

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.