Scooters - Southeast Asia

Southeast Asia

The projected revenue for the Scooters market in Southeast Asia is expected to reach US$10.17bn in 2024.
This market is anticipated to exhibit a compound annual growth rate (CAGR) of 3.08% from 2024 to 2028, resulting in a projected market volume of US$11.48bn by 2028.
The unit sales of Scooters market in Southeast Asia are forecasted to reach 7.78m motorcyles in 2028.
In 2024, the volume weighted average price of Scooters market in Southeast Asia is expected to be US$1.40k.
When considering the international perspective, it is evident that in India will generate the highest revenue, amounting to US$9,782.00m in 2024.
In Southeast Asia, the market for scooters is booming with increased demand in countries like Indonesia, Thailand, and Vietnam.

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

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Currency

Analyst Opinion

The Scooters market in Southeast Asia is experiencing significant growth and development.

Customer preferences: Customers in Southeast Asia are increasingly turning to scooters as their preferred mode of transportation. This is due to several factors, including the compact size and maneuverability of scooters, which make them ideal for navigating the region's crowded and congested urban areas. Additionally, scooters offer a cost-effective and fuel-efficient alternative to traditional cars and motorcycles.

Trends in the market: One of the key trends in the Scooters market in Southeast Asia is the rising demand for electric scooters. As concerns about environmental sustainability and air pollution continue to grow, more consumers are opting for electric scooters as a greener transportation option. This trend is further supported by government initiatives and incentives promoting the adoption of electric vehicles. Another trend in the market is the increasing popularity of scooter-sharing services. These services allow customers to rent scooters for short periods of time, providing a convenient and affordable transportation solution for urban residents. The rise of scooter-sharing services is driven by the growing popularity of ride-sharing platforms and the increasing demand for flexible mobility options.

Local special circumstances: One of the unique factors influencing the Scooters market in Southeast Asia is the region's rapid urbanization. As cities expand and populations grow, there is a greater need for efficient and sustainable transportation solutions. Scooters offer a practical and convenient mode of transportation in these urban environments, where traffic congestion is a common problem. Additionally, the relatively low cost of scooters makes them accessible to a wide range of consumers in Southeast Asia.

Underlying macroeconomic factors: Several macroeconomic factors are contributing to the development of the Scooters market in Southeast Asia. The region's growing middle class and rising disposable incomes are driving consumer demand for personal transportation options. Additionally, the increasing urbanization and infrastructure development in Southeast Asia are creating a conducive environment for the growth of the Scooters market. Furthermore, government policies and regulations that support the adoption of electric vehicles are also playing a significant role in shaping the market. In conclusion, the Scooters market in Southeast Asia is experiencing rapid growth and development, driven by customer preferences for compact and fuel-efficient transportation options. The rising demand for electric scooters and the popularity of scooter-sharing services are key trends in the market. The region's rapid urbanization, growing middle class, and supportive government policies are also contributing to the market's growth.

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.