Scooters - Peru

Peru

In 2024, the projected revenue in the Scooters market in Peru is expected to reach US$94.55m.
Looking ahead, there is an anticipated annual growth rate of 3.79% from 2024 to 2028, resulting in a projected market volume of US$109.70m by 2028.
Furthermore, it is estimated that Scooters market unit sales will reach 83.88k motorcyles in 2028.
The volume weighted average price of the Scooters market in Peru is expected to be US$1.31k in 2024.
Taking an international perspective, it is worth noting that the highest revenue is projected to be generated in India, with an estimated amount of US$9,782.00m in 2024.
Peru's scooter market is thriving due to the country's dense urban population and increasing demand for eco-friendly transportation options.

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

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Analyst Opinion

The Scooters market in Peru has been experiencing significant growth in recent years. Customer preferences have shifted towards more environmentally friendly and cost-effective transportation options, leading to an increased demand for scooters. Additionally, local special circumstances and underlying macroeconomic factors have played a role in driving the development of the market.

Customer preferences: Peruvian customers have shown a growing preference for scooters due to several factors. Firstly, scooters are seen as a more sustainable mode of transportation compared to traditional vehicles. With increasing concerns about pollution and climate change, many consumers are opting for greener alternatives. Scooters offer a lower carbon footprint and reduced emissions, making them an attractive choice for environmentally conscious individuals. Furthermore, scooters provide a cost-effective solution for commuting in Peru. With rising fuel prices and limited public transportation options, owning a scooter offers a more affordable and convenient means of getting around. Scooters are also compact and agile, allowing riders to navigate through congested urban areas with ease.

Trends in the market: One of the key trends in the Peruvian scooters market is the rise of electric scooters. As technology advances and battery technology improves, electric scooters have become more accessible and practical for everyday use. Electric scooters offer the advantages of being quieter, cleaner, and more energy-efficient than their gasoline-powered counterparts. This trend aligns with the growing demand for sustainable transportation options in Peru. Another trend in the market is the increasing availability of scooter-sharing services. These services provide an alternative to traditional ownership, allowing users to rent scooters for short periods of time. This trend has gained popularity in urban areas where individuals may not want the hassle of owning a scooter but still require a convenient mode of transportation. Scooter-sharing services also cater to tourists and visitors who prefer to explore the city on two wheels.

Local special circumstances: Peru's geography and urban landscape contribute to the growing demand for scooters. Many cities in Peru, such as Lima, are characterized by congested roads and limited parking spaces. Scooters offer a practical solution to navigate through traffic and find parking in crowded areas. Additionally, Peru's warm climate makes scooters an appealing choice for commuting, as riders can enjoy the open air and avoid being stuck in hot, stuffy vehicles.

Underlying macroeconomic factors: The Peruvian economy has been experiencing steady growth, which has contributed to the development of the scooters market. As disposable incomes increase, more individuals are able to afford scooters as a mode of transportation. Additionally, the government has implemented policies and incentives to promote the use of electric vehicles, including scooters. These initiatives have further boosted the demand for scooters in Peru. In conclusion, the Scooters market in Peru is developing due to shifting customer preferences towards more sustainable and cost-effective transportation options. The rise of electric scooters and the availability of scooter-sharing services are key trends in the market. Local special circumstances, such as Peru's congested urban areas and warm climate, also contribute to the growth of the market. Furthermore, underlying macroeconomic factors, including economic growth and government incentives, have played a role in driving the development of the scooters market in Peru.

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.