6-Aug-2019: The global electric
scooters market size is expected to reach USD 41.98 billion by 2030 registering
a CAGR of 8.5% over the forecast period, according to a study conducted by
Grand View Research, Inc. Rising consumer awareness about eco-friendly transportation,
increasing adoption of electric scooter sharing services, and declining raw
material prices are expected to fuel the demand. Growing focus on sustainable
transportation infrastructure is also projected to augment the market growth.
Manufacturers are adopting various strategies, such as collaborations, mergers,
and product launches, to enter the continuously evolving electric scooters
industry.
Moreover,
continuous product innovations within the industry and vehicle charging
infrastructure, such as home charging solutions, are projected to bolster the
market revenue over the next 13 years. Growing number of registrations of
electric scooters are supporting governments in meeting the standards for the
adoption of zero-emission vehicles, thus plummeting the emission gap by 2020.
Furthermore, energy-efficiency of these vehicles can be achieved with smart
vehicle charging infrastructure, which is further lessened by progressing
technologies, such as solar power and vehicle-to-grid technologies. Asia Pacific
is anticipated to lead the market over the forecast period due to factors, such
as collaboration of charging equipment manufacturers with researchers and
automakers.
For instance, in
2016, Honda Motor Company and Yamaha Motor Corporation allied to manufacture
electric scooters in Japan. Similar factors are responsible for the dominance
of China in the Asia Pacific market. North America is anticipated to witness
the highest CAGR over the forecast period. U.S. is expected to emerge as the
leading economy, in terms of demand for electric scooters, due to new product
developments. Moreover, various large-scale manufacturers, such as Mahindra
GenZe, are entering the U.S. market. The regional market is, however, observing
some challenges owing to new traffic laws being outlined by regulatory bodies
to ensure public safety.
In
depth research report on Electric Scooters Market
Further key findings from the study suggest:
·
Retro scooters is anticipated to be the dominant segment over
the forecast years owing to significant demand for electric scooters fitted
with docks
·
Based on battery, the sealed lead acid segment accounted for
the largest share of 64.7% of the global electric scooters market in 2018
·
However, stringent laws and regulations to reduce the amount
of lead released into the environment are compelling manufacturers to
incorporate NiMH and Li-Ion batteries into the scooters
·
Asia Pacific is expected to be the largest regional market
reaching USD 26.25 billion by 2030 on account of heavy investments in the
vehicle charging infrastructure
·
Some of the prominent industry participants include Gogoro,
Inc.; Terra Motors Corporation; Mahindra GenZe; Vmoto Limited; Xinri Electric
Vehicle Co. Ltd.; and BMW Motorrad International
Grand View Research
has segmented the global electric scooters market on the basis of product,
battery, voltage, and region:
Electric Scooters Product Type (Revenue, USD Million, 2015 -
2030)
·
Retro
·
Standing/Self-Balancing
·
Folding
Electric Scooters Battery Type (Revenue, USD Million, 2015 -
2030)
·
Sealed Lead Acid
·
NiMH
·
Li-Ion
Electric Scooters Voltage Type (Revenue, USD Million, 2015 -
2030)
·
24V
·
36V
·
48V
·
Greater than 48V
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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