Scooters - Portugal

Portugal

The Scooters market in Portugal is expected to generate a revenue of US$33.08m in 2024.
This projection indicates a steady annual growth rate (CAGR 2024-2028) of 3.55%, which will result in a market volume of US$38.04m by 2028.
Furthermore, the unit sales of Scooters market in Portugal are projected to reach 8.28k motorcyles by 2028.
In terms of pricing, the volume weighted average price of Scooters market in Portugal is expected to be US$4.39k in 2024.
It is interesting to note that when looking at the international market, in India is forecasted to generate the highest revenue, amounting to US$9,782.00m in 2024.
Portugal's scooter market is experiencing a surge in popularity, with an increasing number of urban commuters opting for this convenient and eco-friendly mode of transportation.

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

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Analyst Opinion

The Scooters market in Portugal has been experiencing significant growth in recent years, driven by changing customer preferences and favorable market trends.

Customer preferences: In Portugal, there has been a noticeable shift in customer preferences towards more sustainable and eco-friendly transportation options. Scooters, with their low carbon emissions and high fuel efficiency, have emerged as a popular choice among consumers. Additionally, the compact size and maneuverability of scooters make them well-suited for navigating the narrow streets and congested urban areas in Portugal.

Trends in the market: One of the key trends in the Portuguese scooters market is the increasing demand for electric scooters. With advancements in battery technology and the availability of charging infrastructure, electric scooters have become a viable alternative to conventional gasoline-powered scooters. The rising awareness of environmental issues and the government's efforts to promote clean energy solutions have further propelled the adoption of electric scooters in the country. Another trend in the market is the growing popularity of shared scooter services. Companies offering scooter-sharing platforms have gained traction in Portugal, providing convenient and affordable mobility options for short-distance travel. The ease of access and flexibility offered by these services have attracted a large number of customers, particularly in urban areas.

Local special circumstances: Portugal's warm climate and scenic landscapes make it an ideal destination for leisurely scooter rides. Tourists visiting the country often rent scooters to explore popular tourist spots and enjoy the picturesque views. This has created a demand for rental services and has contributed to the growth of the scooters market in Portugal.

Underlying macroeconomic factors: The overall economic stability and increasing disposable income in Portugal have also played a role in the growth of the scooters market. As consumers have more purchasing power, they are more inclined to invest in personal transportation options that offer convenience and cost savings. Additionally, the government's initiatives to improve transportation infrastructure and promote sustainable mobility have created a conducive environment for the growth of the scooters market. In conclusion, the Scooters market in Portugal is witnessing significant growth due to changing customer preferences towards sustainable transportation options, the increasing demand for electric scooters, the popularity of shared scooter services, the country's favorable climate for scooter rides, and the underlying macroeconomic factors such as economic stability and government initiatives.

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.