Scooters - Turkey

Turkey

In 2024, the projected revenue in the Scooters market in Turkey is expected to reach US$163.20m.
This market is also anticipated to show an annual growth rate of 10.54% from 2024 to 2028, resulting in a projected market volume of US$243.70m by 2028.
The unit sales in the Scooters market are expected to reach 88.97k motorcyles in 2028.
Additionally, the volume weighted average price of Scooters market in Turkey is projected to be US$2.75k in 2024.
When considering the international perspective, in India is expected to generate the highest revenue with US$9,782.00m in 2024.
Turkey's growing urban population and increasing traffic congestion have led to a surge in demand for electric scooters as a practical and eco-friendly mode of transportation.

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

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Analyst Opinion

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

Customer preferences: One of the main reasons for this growth is the increasing preference for scooters among Turkish consumers. Scooters offer a convenient and cost-effective mode of transportation, especially for short distances in congested urban areas. They are also seen as a more environmentally friendly alternative to cars, as they produce lower emissions and consume less fuel. Additionally, scooters are popular among younger consumers who value their compact size and stylish design.

Trends in the market: The Scooters market in Turkey has witnessed several key trends. Firstly, there has been a rise in the demand for electric scooters. As the government encourages the use of electric vehicles to reduce pollution and dependence on fossil fuels, more Turkish consumers are opting for electric scooters. These scooters are not only eco-friendly but also offer a smoother and quieter ride. Another trend in the market is the increasing popularity of scooter-sharing services. These services provide an affordable and convenient option for consumers who do not want to own a scooter but still want access to one for short trips. Scooter-sharing services have gained traction in major cities in Turkey, where traffic congestion is a significant issue.

Local special circumstances: Turkey's geographical location and its large population contribute to the growth of the Scooters market. The country is located at the crossroads of Europe and Asia, making it an important transportation hub. With a population of over 80 million, Turkey has a large consumer base, creating a significant market for scooters. Additionally, the country's urban population is growing rapidly, leading to increased demand for alternative modes of transportation.

Underlying macroeconomic factors: Several macroeconomic factors have also contributed to the growth of the Scooters market in Turkey. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income levels. As a result, more Turkish consumers are able to afford scooters and other forms of personal transportation. Furthermore, the government has implemented policies to support the automotive industry, including incentives for electric vehicles. These policies have created a favorable environment for the growth of the Scooters market. In conclusion, the Scooters market in Turkey is experiencing significant growth due to customer preferences for convenient and eco-friendly transportation options. The increasing popularity of electric scooters and scooter-sharing services reflects these preferences. Turkey's geographical location, large population, and growing urbanization also contribute to the market's growth. Additionally, favorable macroeconomic factors, such as steady economic growth and government support for the automotive industry, have further fueled the expansion of the Scooters market in Turkey.

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.