Scooters - El Salvador

El Salvador

The Scooters market in El Salvador is expected to generate a revenue of US$3.48m in 2024.
It is projected to experience an annual growth rate of 2.89% (CAGR 2024-2028), reaching a market volume of US$3.90m by 2028.
In that year, the unit sales of Scooters market are estimated to reach 2.21k motorcyles.
The volume weighted average price of the Scooters market in 2024 is expected to be US$1.74k.
When considering the international market, it is noteworthy that in India is predicted to generate the highest revenue in the Scooters market, amounting to US$9,782.00m in 2024.
The scooter market in El Salvador is experiencing a surge in demand as the government promotes eco-friendly transportation options.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Scooters market in El Salvador has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in El Salvador have shifted towards more sustainable and cost-effective transportation options, which has led to an increased demand for scooters. Scooters offer a convenient mode of transportation for short distances, allowing individuals to navigate through traffic and crowded areas more easily. Additionally, scooters are more fuel-efficient compared to traditional vehicles, making them an attractive option for cost-conscious consumers. Trends in the market have also played a role in the growth of the Scooters market in El Salvador. The rise of ride-sharing and scooter-sharing services has made scooters more accessible to a wider population. These services provide individuals with the opportunity to rent scooters on a short-term basis, eliminating the need for ownership and maintenance costs. This trend has particularly appealed to younger consumers who value convenience and flexibility. Local special circumstances in El Salvador have further contributed to the development of the Scooters market. The country faces challenges with traffic congestion and limited parking spaces in urban areas. Scooters offer a practical solution to these issues as they require less space and can maneuver through congested streets more easily. Additionally, the relatively small size and lightweight nature of scooters make them ideal for navigating narrow roads and alleys in older parts of the city. Underlying macroeconomic factors have also played a role in the growth of the Scooters market in El Salvador. The country has experienced steady economic growth in recent years, leading to an increase in disposable income for many individuals. This has allowed consumers to consider alternative transportation options, such as scooters, as a viable alternative to traditional vehicles. Furthermore, the government has implemented policies and incentives to promote the use of electric vehicles, including scooters, in an effort to reduce carbon emissions and combat climate change. In conclusion, the Scooters market in El Salvador has been developing due to customer preferences for sustainable and cost-effective transportation options, the rise of ride-sharing and scooter-sharing services, local special circumstances such as traffic congestion and limited parking spaces, and underlying macroeconomic factors such as steady economic growth and government policies. As these factors continue to shape the market, the Scooters market in El Salvador is expected to continue growing 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.