Scooters - Oman

Oman

The projected revenue in the Scooters market for the country of Oman is expected to reach US$1.16m in the year 2024.
This revenue is expected to grow at an annual rate of 2.15% from 2024 to 2029, resulting in a projected market volume of US$1.29m by 2029.
Furthermore, it is estimated that the unit sales of Scooters market in Oman will reach 0.65k motorcyles by 2029.
In 2024, the volume weighted average price of Scooters market in Oman is expected to be US$1.92k.
It is worth noting that, on an international scale, India is projected to generate the highest revenue in the Scooters market, amounting to US$10,620.00m in 2024.
The demand for electric scooters in Oman is rising steadily due to the country's focus on sustainable transportation solutions.

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

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Analyst Opinion

The Scooters market in Oman has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customer preferences in the Scooters market in Oman have been shifting towards more fuel-efficient and eco-friendly modes of transportation. Scooters offer a cost-effective and convenient solution for short-distance travel, making them a popular choice among urban dwellers and young professionals. Additionally, the compact size and maneuverability of scooters make them well-suited for navigating through congested city streets and narrow alleyways.

Trends in the market: One of the key trends in the Scooters market in Oman is the increasing demand for electric scooters. As awareness about environmental sustainability grows, more consumers are opting for electric scooters that produce zero emissions and have lower operating costs compared to traditional petrol-powered scooters. This trend is also supported by government initiatives promoting the adoption of electric vehicles and providing incentives such as tax rebates and subsidies. Another trend in the market is the growing popularity of scooter-sharing services. Similar to ride-hailing services, scooter-sharing platforms allow users to rent scooters for short periods of time, providing a convenient and flexible mode of transportation. This trend is particularly appealing to tourists and individuals who do not own a scooter but need one for occasional use.

Local special circumstances: Oman's urban centers, such as Muscat, are characterized by heavy traffic congestion and limited parking spaces. This has led to an increased demand for alternative modes of transportation, with scooters offering a practical solution for navigating through crowded streets and finding parking in tight spaces. Additionally, the relatively low cost of scooters compared to cars makes them an attractive option for individuals seeking affordable mobility solutions.

Underlying macroeconomic factors: The growing economy of Oman has played a significant role in the development of the Scooters market. Rising disposable incomes and a burgeoning middle class have increased consumer purchasing power, enabling more individuals to afford scooters as a mode of transportation. Furthermore, the government's focus on infrastructure development, including the construction of new roads and highways, has improved accessibility and connectivity, further driving the demand for scooters. In conclusion, the Scooters market in Oman is experiencing growth due to changing customer preferences, emerging trends such as the demand for electric scooters and scooter-sharing services, local special circumstances such as traffic congestion and limited parking spaces, and underlying macroeconomic factors including a growing economy and infrastructure development.

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.