Scooters - Taiwan | Statista Market Forecast

Scooters - Taiwan

Taiwan

Highlights

The revenue in the Scooters market in Taiwan is projected to reach US$2.04bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 2.47%, resulting in a projected market volume of US$2.31bn by 2029.
In Taiwan, the unit sales of Scooters market in the segment are expected to reach 756.50k motorcyles in 2029.
The volume weighted average price of the Scooters market in 2024 is expected to be US$2.97k.
From an international perspective, it is shown that the most revenue will be generated India, with US$10.62bn in 2024.
Taiwan's scooter market continues to thrive, with an increasing demand for electric scooters driven by government incentives and a growing awareness of environmental sustainability.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Taiwan has experienced significant growth in recent years, driven by changing customer preferences and favorable local circumstances. Taiwanese consumers have shown a strong preference for scooters as a mode of transportation, leading to increased demand for these vehicles. Additionally, certain local factors have contributed to the growth of the Scooters market in Taiwan.

Customer preferences: Taiwanese consumers have a long-standing affinity for scooters, which can be attributed to several factors. Firstly, scooters are a convenient and efficient mode of transportation in Taiwan's densely populated urban areas. With their compact size and maneuverability, scooters allow commuters to navigate through traffic and find parking more easily compared to larger vehicles. Secondly, scooters are considered a cost-effective option for transportation, as they are more fuel-efficient and have lower maintenance costs compared to cars. Finally, scooters are also popular among younger consumers as they provide a sense of freedom and independence.

Trends in the market: The Scooters market in Taiwan has witnessed several trends in recent years. One notable trend is the increasing demand for electric scooters. With growing concerns about environmental sustainability and air pollution, many consumers are opting for electric scooters as a greener alternative to traditional gasoline-powered scooters. This trend is also supported by government initiatives and incentives to promote the adoption of electric vehicles. Another trend in the Scooters market is the introduction of new features and technologies. Manufacturers are constantly innovating to meet consumer demands for improved safety, comfort, and connectivity. For example, many scooters now come equipped with advanced safety features such as anti-lock braking systems and traction control. Additionally, connectivity features such as smartphone integration and GPS navigation are becoming more common in scooters.

Local special circumstances: Taiwan's unique geography and infrastructure have contributed to the growth of the Scooters market. The island's compact size and well-developed road network make scooters an ideal mode of transportation for both urban and rural areas. Additionally, Taiwan's favorable climate allows for year-round scooter usage, further driving demand for these vehicles.

Underlying macroeconomic factors: Several macroeconomic factors have also played a role in the growth of the Scooters market in Taiwan. The country's strong economic growth and rising disposable incomes have increased consumer purchasing power, making scooters more affordable for a larger segment of the population. Additionally, favorable government policies and regulations, such as tax incentives and subsidies for electric vehicles, have encouraged consumers to invest in scooters. In conclusion, the Scooters market in Taiwan is experiencing growth due to customer preferences for convenient and cost-effective transportation options, as well as favorable local circumstances and government support. The increasing demand for electric scooters and the introduction of new features and technologies are driving the market forward. With a strong economy and supportive policies, the future looks promising for the Scooters market in Taiwan.

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.