Scooters - Saudi Arabia

Saudi Arabia

In 2024, the projected revenue in the Scooters market in Saudi Arabia is expected to reach €2.51m.
Looking ahead, there is an estimated annual growth rate (CAGR 2024-2029) of 1.55%, which would result in a projected market volume of €2.71m by 2029.
By that same year, the expected unit sales in the Scooters market are forecasted to reach 0.71k motorcyles.
Additionally, the volume weighted average price of Scooters market in 2024 is projected to be €3.73k.
When considering the international market, it is worth noting that India is expected to generate the highest revenue in the Scooters market, amounting to €9,846.00m in 2024.
The demand for electric scooters in Saudi Arabia is rapidly increasing due to their eco-friendly and cost-effective nature.

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

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Analyst Opinion

The Scooters market in Saudi Arabia has been experiencing significant growth in recent years, driven by a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Saudi Arabia have been shifting towards more sustainable and cost-effective transportation options, which has contributed to the rise in popularity of scooters. With increasing concerns about traffic congestion and environmental pollution, many consumers are opting for scooters as a convenient and eco-friendly mode of transportation. Additionally, scooters are seen as a practical option for short-distance travel in urban areas, offering flexibility and ease of maneuverability. Trends in the market have also played a role in the growth of the Scooters market in Saudi Arabia. The emergence of electric scooters has been a key trend, as they offer a greener alternative to traditional petrol-powered scooters. Electric scooters are not only environmentally friendly but also cost-effective, as they require less maintenance and have lower fuel costs. This trend aligns with the increasing focus on sustainability and energy efficiency in the country. Local special circumstances have further contributed to the development of the Scooters market in Saudi Arabia. The country has a young population, with a significant proportion of the population falling within the target demographic for scooters. This demographic, coupled with the increasing urbanization and modernization of cities, has created a favorable environment for the growth of the Scooters market. Additionally, the government has been supportive of initiatives promoting sustainable transportation, including the use of scooters, through the implementation of infrastructure improvements and policies. Underlying macroeconomic factors have also played a role in the growth of the Scooters market in Saudi Arabia. The country has experienced steady economic growth, which has led to an increase in disposable income levels. This, in turn, has made scooters more affordable and accessible to a larger segment of the population. Furthermore, the government's efforts to diversify the economy and reduce dependence on oil have resulted in increased investment in sectors such as transportation, including the Scooters market. In conclusion, the Scooters market in Saudi Arabia is developing due to customer preferences for sustainable and cost-effective transportation options, trends in the market such as the emergence of electric scooters, local special circumstances including a young population and government support, and underlying macroeconomic factors such as economic growth and diversification efforts. These factors are driving the growth of the Scooters market and are expected to continue shaping its development in the future.

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.