Electric Scooters Market Growth & Trends
The global electric scooters market size is expected to reach USD 40.6 billion by 2030, expanding at a CAGR of 7.8% during the forecast period, according to a study conducted by Grand View Research, Inc. The increasing adoption of electric scooters (e-scooters) among the young population, the rising purchasing power of the middle-class community in developing countries, and rapid urbanization are expected to significantly drive product demand across the globe.
Electric scooters offer affordable last-mile transportation as compared to on-demand transportation. Agility and ease of maneuver in densely populated areas with high traffic congestion are additional advantages these vehicles offer, which are expected to fuel E-scooters market growth.
Consumer satisfaction is another essential factor for vendors trying to retain existing customers or looking to expand their customer base. It can be measured using various parameters such as durability, maintenance expense, performance, comfort and safety, and operating cost. Vendors are trying to focus on two critical factors to attract customers: design/style and specifications.
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In May 2019, Pure EV launched two electric scooters for the Indian market, EPLUTO and ETRANCE, with a long range of 120kms per charge. The ETRANCE scooter has a ground-to-handle height of about 3.5ft and weighs around 47kgs. These specifications were particularly designed for the women population in the country.
The 24V batteries have gained prominence over the past few years. The conventional electric scooters comprise 24V batteries that can travel for about 4 to 16 miles using a 250-Watt electric motor and a battery with electric charge ranging from 5Ah to 22Ah respectively. With the advent of improvements in battery technology, electric scooters consist of two 12V systems to power the engine more efficiently. However, due to their large battery size, manufacturers have encouraged the adoption of a dual pair of 12V batteries, known as the trickle charge system. The need for large energy storage capacity has declined the demand for these types of voltage systems.
Electric Scooters Market Report Highlights
· By product, the retro segment is expected to dominate the market for e-scooters in the coming years. The increasing maintenance and fuel costs of conventional scooters are posing electric scooters as an attractive transportation alternative
· Based on voltage, the greater than the 48V segment is estimated to register the highest CAGR of 11.6% from 2022 to 2030. The deployment of additional voltage levels, i.e., scooters with voltage greater than 48V, offers several advantages. These systems facilitate reducing carbon dioxide emissions at acceptable cost levels
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Electric Scooters Market Segmentation
Grand View Research has segmented the global electric scooters market based on the product, battery, voltage, and region
Electric Scooters Product Outlook (Revenue, USD Million, 2018 - 2030)
· Retro
· Standing/Self-Balancing
· Folding
Electric Scooters Battery Outlook (Revenue, USD Million, 2018 - 2030)
· Sealed Lead Acid
· NiMH
· Li-Ion
Electric Scooters Voltage Outlook (Revenue, USD Million, 2018 - 2030)
· 24V
· 36V
· 48V
· Greater than 48V
Electric Scooters Regional Outlook (Revenue, USD Million, 2018 - 2030)
· North America
o U.S.
o Canada
· Europe
o U.K.
o Germany
o France
· Asia Pacific
o China
o Japan
o India
· Latin America
o Brazil
o Mexico
· Middle East & Africa
List of Key Players in the Electric Scooters Market
· Yadea Technology Group Co., Ltd.
· Jiangsu Xinri E-vehicle Co. Ltd.
· Hero Electric
· Gogoro Inc.
· Vmoto Limited
· BMW Motorrad International
· Mahindra GenZe
· Terra Motors Corporation
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Mar 04, 2020: The global Electric Scooters market size is expected to reach USD 41.98 billion by 2030 at a CAGR of 7.7% over the forecast period, according to a study conducted by Radiant Insights Inc. Increasing adoption of e-scooters among the young population, rising purchasing power of the middle-class community in developing countries, and rapid urbanization are expected to significantly drive product demand across the globe.
Electric scooters offer affordable last-mile transportation as compared to on-demand transportation.
Agility and ease of maneuver in densely populated areas with high traffic congestion are additional advantages these vehicles offer, which is expected to fuel E-scooters market growth.Consumer satisfaction is another essential factor for vendors trying to retain existing customers or looking to expand their customer base.
Vendors are trying to focus on two critical factors to attract customers: design/style and specifications.
In May 2019, Pure EV launched two electric scooters for the Indian market, EPLUTO and ETRANCE, with the long-range of 120kms per charge.
Ltd., VÄSSLA ELECTRIC SCOOTERS., and PURE EV are among other players that integrated swappable battery systems in their electric scooter variants.
The global Electric Scooters Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the electric scooters market include AllCell Technologies LLC., BMW Motorrad International, BOXX Corp., Gogoro, Inc., Green Energy Motors Corp., Greenwit Technologies Inc., Honda Motor Co. Ltd., JIANGSU XINRI E-VEHICLE CO., LTD., KTM AG, Mahindra GenZe, and others.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Electric Scooters Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/electric-scooters-market/download-sampleMarket DynamicsThe rising need for eco-friendly electric vehicles owing to growing concerns about the emission of carbons and other harmful gases from fuel-based vehicles is stimulating the market demand.
In addition to this, increasing adoption of electric scooter sharing services is further boosting the market growth.
On the other hand, high costs associated with electric scooters, and limited distance range restrain the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
