Scooters - Kuwait

Kuwait

In 2024, the projected revenue in the Scooters market is expected to reach US$2.44m.
Looking ahead, a steady annual growth rate (CAGR 2024-2028) of 1.31% is anticipated, resulting in a projected market volume of US$2.57m by 2028.
It is estimated that unit sales in the Scooters market will reach 0.53k motorcyles by 2028.
Additionally, the volume weighted average price for the Scooters market is projected to amount to US$4.87k in 2024.
When considering the international perspective, it is worth noting that the highest revenue is projected to be generated in India, with an estimated value of US$9,782.00m in 2024.
In the context of Kuwait, these figures provide valuable insights into the potential growth and market dynamics of the Scooters market.
The popularity of electric scooters is rapidly growing in Kuwait as residents seek greener and more efficient transportation options.

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

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Analyst Opinion

The Scooters market in Kuwait has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: One of the key factors driving the growth of the Scooters market in Kuwait is the increasing preference for eco-friendly and cost-effective transportation options. Scooters offer a more fuel-efficient alternative to traditional cars, making them an attractive option for individuals looking to reduce their carbon footprint and save on fuel costs. Additionally, scooters are compact and easy to maneuver in congested urban areas, making them a convenient choice for daily commuting.

Trends in the market: One of the noticeable trends in the Scooters market in Kuwait is the rising popularity of electric scooters. With advancements in battery technology, electric scooters have become more reliable and have longer ranges, making them a viable option for daily commuting. The demand for electric scooters is also driven by the government's efforts to promote sustainable transportation and reduce air pollution. As a result, both local and international scooter manufacturers have been introducing a wide range of electric scooter models in the Kuwaiti market. Another trend in the Scooters market in Kuwait is the increasing demand for high-performance scooters. Kuwaiti consumers are increasingly looking for scooters that offer higher speeds and better acceleration, allowing them to travel longer distances in a shorter amount of time. This trend is particularly evident among younger consumers who are attracted to the sporty and adventurous image associated with high-performance scooters.

Local special circumstances: One of the unique factors influencing the Scooters market in Kuwait is the country's hot climate. With temperatures often exceeding 40 degrees Celsius during the summer months, scooters provide a more comfortable and convenient mode of transportation compared to traditional cars. Scooters allow riders to enjoy the cool breeze and avoid the discomfort of being stuck in traffic in a closed vehicle. This makes scooters an appealing option for individuals who want to travel short distances without having to deal with the heat and congestion on the roads.

Underlying macroeconomic factors: The growth of the Scooters market in Kuwait is also influenced by underlying macroeconomic factors. The country has a high per capita income and a strong consumer purchasing power, which enables individuals to afford scooters as a means of transportation. Additionally, the government's investment in infrastructure development, including the construction of new roads and bike lanes, has further facilitated the growth of the Scooters market. These factors, combined with the increasing urbanization and population growth in Kuwait, have created a favorable environment for the expansion of the Scooters market in the country. In conclusion, the Scooters market in Kuwait is experiencing growth due to changing customer preferences, such as the increasing demand for eco-friendly and cost-effective transportation options. The market is also driven by the rising popularity of electric scooters and the demand for high-performance models. The local special circumstance of the hot climate in Kuwait further contributes to the appeal of scooters as a comfortable and convenient mode of transportation. The underlying macroeconomic factors, including high per capita income and government investment in infrastructure development, also play a significant role in the growth of the Scooters market in Kuwait.

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.