The scooter global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Scooter Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The scooter market size has grown strongly in recent years. It will grow from <b>$68.72 billion in 2023 to $73.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. </b> The growth in the historic period can be attributed to urbanization and traffic congestion, rising fuel prices, environmental concerns, ease of maneuverability, youthful demographics, rise of sharing economy, changing lifestyle patterns.
The scooter market size is expected to see strong growth in the next few years. It will grow to <b>$96.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. </b> The growth in the forecast period can be attributed to smart connectivity features, expansion of scooter-sharing services, focus on sustainable manufacturing, customization options for consumers, advancements in scooter design, economic viability for short commutes. Major trends in the forecast period include integration of smart features, lightweight and compact designs, technological advancements, evolving consumer preferences, integration of advanced safety features, innovations in charging infrastructure, collaborations with ride-hailing platforms.
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Scope Of Scooter Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Scooter Market Overview
Market Drivers –
The investment in road construction is driving the scooter market. Road construction leads to the repair, maintenance, and building of new roads for ease of transportation. Good-quality roads help vehicles, especially two-wheelers, run smoothly without jerks and obstructions. Scooters work more efficiently when the roads are properly built. Countries are investing in the construction of roads to improve transportation facilities. For instance, the Ministry of Road Transport and Highways has received funding from the Indian government of $13.14 billion to construct roads and highways. Thus, an increase in investment will propel the scooter market.
Market Trends –
Technological advancement is a key trend in the scooter market. Technologies such as artificial intelligence are used in manufacturing scooters to keep track of traffic, ensure battery backup in case of electric scooters, help delivery services in tracking locations, finding parking spaces, and various other purposes. In April 2022, Voi Technology, a Sweden-based micro-mobility startup that provides electric scooters for last-mile transportation, partnered with Drover AI. Through this partnership, Voi will use AI technology to deploy computer vision in e-scooters throughout Oslo that manages sidewalk driving, modifies e-scooter parking lots, and provides a safe driving experience. Drover AI is a software development company that creates IoT solutions backed by AI to manage fleets of last-mile vehicles.
The scooter market covered in this report is segmented –
1) Product Type: Electric Scooters, Gas Scooters, Kick Scooters
2) By Application: Commercial, Individual
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Regional Insights –
Asia-Pacific was the largest region in the scooter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the scooter market report during the forecast period. The regions covered in the scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the scooter market report are Yadea Technology Group Co. Ltd., Ninebot Limited, Neutron Holdings Inc., Bird Rides Inc., Skinny Labs Inc., Honda Motor Co. Ltd., Yamaha Motor Pvt. Ltd., Harley-Davidson Inc., Piaggio & C SpA, Suzuki Motor Corporation, Bayerische Motoren Werke AG., Hero MotoCorp Ltd., Bajaj Auto Ltd., TVS Motor Company Ltd., Mahindra & Mahindra Ltd., Ducati Motor Holding SpA, Triumph Motorcycles Ltd., Kawasaki Heavy Industries Ltd., Sanyang Motor Co. Ltd., Gogoro Inc., NIU Technologies, Segway Inc., Razor USA LLC, Okinawa Autotech Pvt. Ltd., Ather Energy Pvt. Ltd., Ampere Electric Vehicles Pvt Ltd., Revolt Intellicorp Pvt. Ltd., Ola Electric Mobility Pvt. Ltd., Zhongneng Vehicle Group Co. Ltd., Baotian Motorcycle Industrial Co. Ltd., Bashan Motorcycle Manufacturing Co. Ltd.
Table of Contents
1. Executive Summary
2. Scooter Market Characteristics
3. Scooter Market Trends And Strategies
4. Scooter Market – Macro Economic Scenario
5. Global Scooter Market Size and Growth
…
31. Global Scooter Market Competitive Benchmarking
32. Global Scooter Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Scooter Market
34. Scooter Market Future Outlook and Potential Analysis
35. Appendix
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