Electric Scooter Market Share 2023, Emerging Trends, Strong Industry Growth, Expanding at a CAGR of 8.03%, Opportunities with Manufacturers Analysis, Key Players, Demand and Forecast till 2022-2032: SPER Market Research
E-scooters are motorised scooters with electric propulsion. It does not require fuel or petrol to operate, unlike conventional scooters. The motor and battery of e-scooters are connected, and the battery is charged by plugging into a power outlet or a charging station. These scooters are battery-powered, environmentally friendly, and simple to use. The transition from conventional to electric modes of transportation is being driven by the rising need for sustainable urban mobility and modernised transportation infrastructure. It helps to enhance both energy security and air quality.
According to SPER market research, ‘Electric Scooter Market Size- By Product, By Battery, By Voltage, By Technology Usage – Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Global Electric Two Wheeler Market is predicted to reach USD 18.78 billion by 2032 with a CAGR of 8.03%.
Consumers are increasingly choosing time- and money-saving forms of transportation to get to their destinations as a result of rising long-distance travel trends and increased traffic, which is expected to fuel market expansion. Additionally, with the rise in micro-mobility, industry participants have developed vehicle-sharing options that let consumers avoid buying their micro-mobility vehicles. Greenhouse gas emissions are produced by public transport. Additionally, commuters increasingly choose private transportation options over public transportation, such as automobiles and motorbikes, due to growing environmental concerns.
The Electric Scooter and Motorcycle Market faces various challenges that impact its growth and widespread adoption. Infrastructure limitations, including the lack of charging stations, hinder the convenience of electric scooters. Limited range and battery technology contribute to range anxiety and inconvenience for users. Regulatory hurdles and safety concerns surrounding inexperienced riders and collisions require attention. Increasing competition and market saturation call for product innovation and differentiation. The environmental impact of battery disposal and recycling is a significant concern. Consumer acceptance and behaviour change pose challenges due to ingrained preferences and perceived performance differences.
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The COVID-19 pandemic has had a mixed impact on the E-Scooter (Electric) Market. Initially, the demand for e-scooter rentals and sharing services declined due to lockdown measures. However, there has been a shift in commuting patterns, with people seeking individual mobility options, leading to increased demand for personal e-scooters. E-scooter sharing companies have implemented safety and sanitization measures to address concerns. Some cities have introduced new regulations to promote e-scooter usage. Supply chain disruptions have affected the availability of e-scooters. The long-term impact remains uncertain, with factors like vaccination rates and consumer confidence playing a role in the recovery of e-scooter sharing services.
Geographically, Asia-Pacific emerged as the dominant region in the Electric Scooter Industry. This can be attributed because China, Taiwan, and Japan are the countries with the most manufacturers of rechargeable vehicles, accounting for the highest share from this region. China has become a major importer, manufacturer, and exporter of electric vehicles. Customers are thinking more and more about using sustainable energy vehicles to reduce vehicle emissions. The Electric Kick Scooter Market in this region is also being driven by economic factors related to e-vehicles. Additionally, some of the market key players are Jiangsu Xinri E-vehicle Co. Ltd., Gogoro Inc., Yadea Technology Group Co.Ltd., Hero Electric, Vmoto Limited, Others.
Global EV Scooter Market Segmentation:
By Product:
- Retro
- Standing/Self Balancing
- Folding
By Battery:
- Sealed Lead Acid
- NiMH
- Li-Ion
By Voltage:
- 24V
- 36V
- 48V
- Greater than 48V
By Technology Usage:
- Commercial
- Private
By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
E-Scooter Market Growth Opportunity
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