Scooters - South America

South America

In 2024, the projected revenue in the Scooters market in South America is estimated to reach US$1.34bn.
It is anticipated that the revenue will experience an annual growth rate (CAGR 2024-2029) of 6.55%, resulting in a projected market volume of US$1.84bn by 2029.
Moreover, it is expected that the unit sales in the Scooters market will reach 0.86m motorcyles by 2029.
The volume weighted average price of Scooters market in South America is projected to be US$2.05k in 2024.
In terms of international revenue generation, India is expected to lead with US$10,620.00m in 2024.
As a journalist with deep knowledge about history, facts, and insights, I can provide you with a country-specific statement about current trends in the Scooter market in South America: Brazil's Scooter market is experiencing a surge in popularity as urban dwellers seek efficient and environmentally-friendly transportation options.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Scooters market in South America is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in South America are playing a crucial role in the growth of the Scooters market. With increasing urbanization and traffic congestion in many cities across the region, people are looking for more efficient and convenient modes of transportation. Scooters offer a practical solution, allowing individuals to navigate through congested streets and reach their destinations quickly. Moreover, the affordability and low maintenance costs of scooters make them an attractive option for many consumers in South America. Trends in the market further contribute to the growth of the Scooters market in South America. One noticeable trend is the rising popularity of electric scooters. As environmental concerns and sustainability become more prominent, consumers are increasingly opting for eco-friendly transportation options. Electric scooters provide a clean and efficient mode of transportation, reducing both carbon emissions and noise pollution. This trend is expected to continue as governments in South America implement policies to promote electric vehicles and reduce dependence on fossil fuels. Another trend in the Scooters market is the introduction of innovative features and designs. Manufacturers are constantly developing new models with improved performance, safety features, and aesthetics. These advancements attract consumers who are looking for stylish and technologically advanced scooters. Additionally, the availability of a wide range of options, including different engine sizes, colors, and accessories, allows customers to personalize their scooters according to their preferences. Local special circumstances also contribute to the growth of the Scooters market in South America. The region's diverse geography, with its mountains, coastlines, and bustling cities, creates a unique demand for scooters. Scooters are well-suited for navigating through narrow streets, hilly terrains, and congested urban areas, making them a popular choice among South American consumers. Additionally, the relatively lower cost of scooters compared to cars and motorcycles makes them a more accessible mode of transportation for a larger portion of the population. Underlying macroeconomic factors further support the growth of the Scooters market in South America. Economic growth and rising disposable incomes enable more individuals to afford scooters as a means of transportation. Additionally, favorable government policies and incentives, such as tax benefits and subsidies, encourage the adoption of scooters and promote the growth of the market. Furthermore, the increasing presence of international scooter manufacturers in South America, along with the establishment of local production facilities, contributes to the availability and affordability of scooters in the region. In conclusion, the Scooters market in South America is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for efficient and convenient transportation options, the popularity of electric scooters, the introduction of innovative features, and the unique geography of the region all contribute to the growth of the market. Additionally, favorable macroeconomic factors and government policies further support the expansion of the Scooters market in South America.

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.