Scooters - Uruguay

Uruguay

Highlights

The projected revenue for the Scooters market in Uruguay is expected to reach US$740.50k in 2024.
It is anticipated that there will be an annual growth rate of 3.38% from 2024 to 2029, resulting in a projected market volume of US$874.60k by 2029.
In terms of unit sales, it is expected that 574.00motorcyles Scooters market will be sold in 2029.
The volume weighted average price of the Scooters market in Uruguay is projected to be US$1.42k in 2024.
When looking at the international perspective, it is noteworthy that India is expected to generate the highest revenue in the Scooters market, with US$10.62bn in 2024.
The scooter market in Uruguay is experiencing a surge in demand as more people opt for eco-friendly and cost-effective transportation options in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Uruguayans have shown a growing preference for scooters due to their affordability, convenience, and environmental friendliness. Scooters are more cost-effective than cars, both in terms of purchase price and ongoing expenses such as fuel and maintenance. Additionally, scooters are well-suited for navigating the country's urban areas, where traffic congestion can be a major issue. Furthermore, the increasing awareness of environmental issues has led many consumers to opt for scooters as a more sustainable mode of transportation.

Trends in the market: One of the key trends in the Scooters market in Uruguay is the rising demand for electric scooters. The government has been actively promoting electric vehicles as part of its efforts to reduce carbon emissions and combat climate change. As a result, there has been a significant increase in the number of electric scooters available in the market, and consumers are increasingly choosing them over traditional gasoline-powered scooters. Electric scooters offer several advantages, including lower operating costs, reduced environmental impact, and quieter operation. Another trend in the market is the emergence of scooter-sharing services. Similar to bike-sharing programs, scooter-sharing services allow users to rent scooters for short periods of time, providing a convenient and affordable transportation option for urban dwellers. These services have gained popularity in Uruguay's major cities, where they cater to the needs of commuters and tourists alike. The availability of scooter-sharing services has further fueled the demand for scooters in the country.

Local special circumstances: Uruguay's urban areas, particularly the capital city of Montevideo, are characterized by high population density and traffic congestion. This has created a need for alternative modes of transportation that are more efficient and maneuverable in congested areas. Scooters have emerged as a popular choice among urban residents, offering a practical solution to navigate through traffic and reach their destinations quickly. Additionally, Uruguay's relatively mild climate makes scooters a viable transportation option year-round, further contributing to their popularity.

Underlying macroeconomic factors: Uruguay has experienced steady economic growth in recent years, which has resulted in an increase in disposable income levels. As a result, consumers have more purchasing power and are more inclined to invest in personal transportation options such as scooters. Furthermore, the government's efforts to promote electric vehicles and sustainable transportation have created a favorable environment for the growth of the scooter market. These factors, combined with the country's urbanization and traffic congestion issues, have contributed to the development and expansion of the Scooters market in Uruguay.

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.