Electric Scooters Market size was valued at USD 41.1 Billion in 2022 and is projected to reach USD 486.5 Billion by 2030, growing at a CAGR of 31.60% from 2023 to 2030.
The electric scooters have minimal operating and maintenance costs and together with government incentives the Electric Scooters Market is predicted to grow at a quick rate. The market is comprehensively evaluated in the study on the global electric scooter industry. The research provides a thorough analysis of the market’s key segments, trends, drivers, restraints, competitive environment, and other important elements. Electric scooters are becoming more and more popular around the world as a result of their numerous benefits, including reduced noise levels, affordable maintenance costs, and excellent mechanical efficiency. The governments are also offering monetary and non-monetary incentives owing to which the Electric Scooters Market is seeing enormous expansion. Consumers are also increasingly conscious of the environmental impact due to conventional forms of travel and consequently are moving to electric modes of transport.
An electric scooter is a two-wheeled self-balancing personal transporter. Electric Scooters are powered by rechargeable batteries which provide power to motors positioned on each wheel giving it its balance via gyroscopic forces from acceleration paired with sensors for speed detection and motion sensing. They have no gears or belts making them efficient gadgets for short-distance travel at speeds of 15 miles per hour. However, various restrictions are liming the growth of the Global Electric Scooters Market. The lack of charging infrastructure and the challenges linked to lack of power output and restricted range are some of the factors that are restricting the growth of the Global Electric Scooters Market.
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Global Electric Scooters Market – Segmentation
The global electric scooters market is segmented on the basis of product type, battery type and voltage type.
Based on the product type, the market is segmented into,
• Retro
• Standing/Self-Balancing
• Folding
Based on the battery type, the market is segmented into,
• Sealed Lead Acid
• NiMH
• Li-Ion
Based on the voltage type, the market is segmented into,
• 24V
• 36V
• 48V
• Greater than 48V
Global Electric Scooters– Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Electric Scooters– Key Market players
Mahindra GenZe; BMW Motorrad International; Vmoto Limited; Terra Motors Corporation; Gogoro Inc.; and Jiangsu Xinri Electric Vehicle Co. Ltd. are the major players that are driving the growth of the market during the forecast period.
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The market for electric scooters has been thoroughly researched for this research report using both primary and secondary sources. Along with a competitive analysis of the market, segmented by application, type, and geographical trends, it offers a comprehensive overview of the market’s present and future goals. Additionally, a dashboard analysis of the previous and current performance of top organisations is provided. To ensure accurate and thorough information on the market for electric scooters, a range of approaches and analysis are employed in the research.
Global Electric Scooters– Growth Factors
The rising prices of the petrol is one of the major factors on the part of the population to opt for electric scooters and this factor has been fostering the growth of the market at a tremendous rate during the forecast period. Apart from this, the rising air pollution across the globe due to the use of petrol vehicles is forcing the governments of various countries to promote the use of electric scooters and this factor has also been boosting the growth of the market during the forecast period. Also, the attractive scheme offered by manufacturers of these vehicles to attract the customers is also bearing fruit and thus is growing the market during the forecast period. However, the lower awareness among the customers about the use of the electric scooters is estimated to hamper the growth of the market during the forecast period.
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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