Key regions: Brazil, Portugal, Indonesia, United States, Italy
The Scooters market in Latvia is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend. Customer preferences in Latvia are shifting towards more eco-friendly and cost-effective transportation options, which has led to an increased demand for scooters. Scooters are seen as a convenient and efficient mode of transportation, especially in urban areas where traffic congestion is a common issue. Additionally, the compact size and maneuverability of scooters make them a popular choice for commuting short distances. Trends in the market also contribute to the growth of the Scooters market in Latvia. The rise of electric scooters has been a major trend in recent years. Electric scooters are seen as a greener alternative to traditional petrol-powered scooters, as they produce zero emissions and are more energy-efficient. This trend aligns with the growing emphasis on sustainability and environmental consciousness in Latvia. Furthermore, the advancements in battery technology have made electric scooters more practical and reliable, further driving their popularity. Local special circumstances in Latvia also play a role in the development of the Scooters market. The country has a well-developed infrastructure, including a network of bike lanes and dedicated paths for alternative modes of transportation. This makes it easier and safer for people to use scooters for their daily commute. Additionally, the relatively small size of Latvia makes scooters a convenient option for navigating the city streets and avoiding traffic congestion. Underlying macroeconomic factors also contribute to the growth of the Scooters market in Latvia. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This allows more people to afford scooters and other alternative modes of transportation. Additionally, the government has implemented policies and incentives to promote the use of eco-friendly transportation, which further supports the growth of the Scooters market. In conclusion, the Scooters market in Latvia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards eco-friendly transportation options, the rise of electric scooters, the well-developed infrastructure, and the steady economic growth all contribute to the positive trend in the Scooters market in Latvia.
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.
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