The Promising Future of Electric Mopeds in the Turkish Market: An Opportunity in the Blue Ocean

As of 2023, the population of Turkey is approximately 85 million, with a gender ratio close to 55%. Among them, the age group between 15 and 44 years old accounts for 45.7% of the total population, which is about 38.845 million people. If we target the age range of 15-44 for electric moped customers, the total potential customer base for electric mopeds in Turkey would be around 38.84 million.

With Turkey’s birth rate at 1.62 and mortality rate at 5.9 in 2023, assuming a mortality rate of 2.0 for the target age group of 15-44, the customer base for electric mopeds in Turkey would be reduced to approximately 38.0681 million.

Based on the sales volume of 360,000 units in 2023 and a Compound Annual Growth Rate (CAGR) of 78.4% for Completely Knocked Down (CKD) imports, with an estimated import growth rate of 30% per year, it is projected that by 2023, the stock of electric mopeds in the Turkish market would exceed 1 million units.

Currently, the Turkish market is in the early stages of development, with gasoline-powered motorcycles dominating the main market. Consumer intentions to purchase electric mopeds are not clear yet. However, with the guidance of policies and market trends, it is estimated that the market purchasing power would be around 50% or more. This means that the minimum customer base for electric mopeds in Turkey would be around 17 million or more.

The data suggests a highly promising future for electric mopeds in the Turkish market. With a large potential customer base and a rapidly growing market, the electric moped industry in Turkey presents an opportunity in the blue ocean for manufacturers and investors. As policies and market forces continue to drive the shift towards eco-friendly transportation solutions, the electric moped market in Turkey is poised for significant expansion and success in the coming years.