Scooters - Western Asia

Western Asia

In 2024, the projected revenue in the Scooters market in Western Asia is expected to reach US$198.60m.
It is anticipated that this revenue will experience a compound annual growth rate (CAGR 2024-2029) of 2.70%, resulting in a projected market volume of US$226.90m by 2029.
Furthermore, the unit sales in the Scooters market are expected to reach 84.70k motorcyles by 2029.
In 2024, the volume weighted average price of Scooters market in Western Asia is projected to be US$2.62k.
It is worth noting that, from an international perspective, the highest revenue is expected to be generated India, amounting to US$10,620.00m in 2024.
In Western Asia, the demand for electric scooters has been rapidly increasing due to the region's focus on sustainability and eco-friendly transportation.

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

Market

Region

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Analyst Opinion

The Scooters market in Western Asia is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in Western Asia are playing a major role in the growth of the Scooters market. With increasing urbanization and traffic congestion in many cities, people are looking for alternative modes of transportation that are more efficient and convenient. Scooters are seen as a practical and cost-effective solution for short commutes, allowing individuals to navigate through congested streets with ease. Additionally, the rising popularity of electric scooters is driven by a growing concern for the environment and a desire for sustainable transportation options. The market trends in Western Asia are also contributing to the growth of the Scooters market. The region is witnessing a rise in disposable income and a growing middle class, which has led to an increase in consumer spending on recreational activities and personal transportation. As a result, there is a growing demand for scooters as a means of personal mobility and leisure. Furthermore, the advancements in technology and design have made scooters more appealing to consumers, with features such as improved battery life, enhanced safety measures, and sleek designs. Local special circumstances in Western Asia are also influencing the development of the Scooters market. The region is characterized by a large population of young adults and a high concentration of urban areas. This demographic profile creates a favorable market for scooters, as they are popular among young adults for their affordability and ease of use. Additionally, the compact size of scooters makes them ideal for navigating through crowded city streets and finding parking in limited spaces. Underlying macroeconomic factors are also contributing to the growth of the Scooters market in Western Asia. The region is experiencing steady economic growth, which has resulted in increased consumer purchasing power and a higher standard of living. This economic prosperity has made scooters more accessible to a wider range of consumers, leading to higher sales and market expansion. Furthermore, government initiatives and policies aimed at promoting sustainable transportation and reducing carbon emissions have also played a role in driving the demand for scooters. In conclusion, the Scooters market in Western Asia is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. With increasing urbanization, rising disposable income, and a growing concern for the environment, scooters have become a popular choice for personal transportation in the region. As the market continues to evolve, it is expected that the Scooters market in Western Asia will continue to thrive and expand in the coming years.

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.