Scooters - Thailand

Thailand

In 2024, the projected revenue in the Scooters market in Thailand is expected to reach US$1.43bn.
This segment is anticipated to demonstrate a compound annual growth rate (CAGR 2024-2028) of 0.86%, resulting in a projected market volume of US$1.48bn by 2028.
By that year, the unit sales in the Scooters market are expected to reach 0.57m motorcyles in Thailand.
The volume weighted average price of this segment in 2024 is estimated to be US$2.53k.
From an international perspective, it is noteworthy that the highest revenue in the Scooters market is projected to be generated in India, amounting to US$9,782.00m in 2024.
Thailand's scooter market is experiencing a surge in demand due to the country's congested urban areas and the rise of ride-sharing services.

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

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Analyst Opinion

The Scooters market in Thailand has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth of the Scooters market in Thailand is the increasing demand for affordable and convenient transportation options. Scooters are becoming increasingly popular among urban dwellers who need a mode of transportation that is easy to maneuver in traffic and can navigate through narrow streets. Additionally, the rising cost of fuel and the need for more sustainable transportation solutions have also contributed to the growing popularity of scooters.

Trends in the market: An emerging trend in the Scooters market in Thailand is the shift towards electric scooters. With the increasing focus on sustainability and environmental consciousness, consumers are looking for greener alternatives to traditional gasoline-powered scooters. Electric scooters offer a cleaner and more energy-efficient mode of transportation, which aligns with the growing eco-consciousness of consumers. This trend is expected to continue in the coming years as the government and manufacturers promote the adoption of electric vehicles. Another trend in the Scooters market in Thailand is the increasing customization options for scooters. Consumers are looking for scooters that not only provide a mode of transportation but also reflect their personal style and preferences. Manufacturers are responding to this demand by offering a wide range of customization options, from different colors and designs to additional accessories and features. This trend is driven by the desire for individuality and self-expression among consumers.

Local special circumstances: One of the unique aspects of the Scooters market in Thailand is the presence of a large number of motorcycle taxis. These motorcycle taxis, known as "motosai," are a popular mode of transportation in urban areas, especially for short distances. The availability and affordability of moto taxis have influenced the demand for scooters as well. Many consumers who regularly use moto taxis for their daily commute are now opting to purchase their own scooters for added convenience and cost savings.

Underlying macroeconomic factors: The growth of the Scooters market in Thailand is also supported by favorable macroeconomic factors. Thailand has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. With more disposable income, consumers are able to afford the purchase and maintenance of scooters. Additionally, the government has implemented policies to promote the automotive industry, including the production and adoption of electric vehicles. These policies have created a favorable business environment for scooter manufacturers and have contributed to the growth of the market. In conclusion, the Scooters market in Thailand is experiencing growth due to customer preferences for affordable and convenient transportation options, the trend towards electric scooters and customization, the presence of motorcycle taxis, and favorable macroeconomic factors. The market is expected to continue to expand as consumers seek greener and more personalized transportation solutions.

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.