Key regions: Brazil, Portugal, Indonesia, United States, Italy
The Scooters market in Bulgaria has been experiencing steady growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.
Customer preferences: In line with global trends, Bulgarian customers are increasingly opting for scooters as a convenient and cost-effective mode of transportation. Scooters are particularly popular among urban dwellers who are looking for an efficient way to navigate through traffic-congested cities. Additionally, the younger generation is showing a preference for scooters as they are seen as a trendy and eco-friendly alternative to traditional vehicles.
Trends in the market: One of the key trends in the Bulgarian Scooters market is the rising demand for electric scooters. As environmental consciousness grows, more customers are seeking eco-friendly transportation options. Electric scooters offer a clean and efficient mode of travel, making them highly attractive to environmentally conscious consumers. This trend is expected to continue as the government implements policies and incentives to promote electric vehicles. Another trend in the market is the increasing popularity of scooter sharing services. These services provide customers with a convenient and affordable way to rent scooters for short journeys. The rise of scooter sharing platforms has been facilitated by advancements in technology, such as mobile applications that allow users to easily locate and unlock scooters. This trend is particularly prevalent in urban areas where commuters are looking for flexible transportation options.
Local special circumstances: Bulgaria's urban centers, such as Sofia and Plovdiv, face significant traffic congestion and limited parking spaces. This has contributed to the growing popularity of scooters as a practical solution for navigating through these cities. Scooters are compact and agile, allowing riders to maneuver through traffic and find parking spaces more easily compared to larger vehicles.
Underlying macroeconomic factors: Bulgaria's improving economy and rising disposable incomes have also played a role in the growth of the Scooters market. As consumers have more spending power, they are more likely to invest in personal transportation options that offer convenience and flexibility. Additionally, favorable government policies, such as reduced taxes on scooters and incentives for electric vehicles, have further stimulated market growth. In conclusion, the Scooters market in Bulgaria is witnessing steady growth due to changing customer preferences, including a shift towards electric scooters and the popularity of scooter sharing services. The local special circumstances, such as traffic congestion and limited parking spaces, have also contributed to the market's development. Furthermore, favorable macroeconomic factors, such as a growing economy and government incentives, have played a significant role in driving market growth.
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.
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