Global Electric Scooters Market Trends by Types and Application, Forecast to 2027

[mayuri kathade]

As part of the primary research, extensive interviews with key opinion leaders and business leaders, including CEOs and marketing executives, were done. As part of the secondary research, the annual and financial reports of the major manufacturers were examined. market percentage splits, market shares, growth rates, and breakdowns are produced from secondary sources and validated against primary data.

Global Electric Scooter Market Characteristics:

• The Electric scooter market growth is mainly due to the expansion of Taiwan & Chines venders in International market.

• Latest Technological advancement growing the market significantly. For instance, Development of Carbon batteries that can charge 20 times faster.

• Mahindra GenZe is front runner in the market with competition of various prominent players like BMW Motorrad International, Vmoto limited, and Gogoro etc.

• OLA is one of the companies recently entered in electric scooter market with fully capable electric scooter in the S1 and S1 pro.

Global Electric Scooter Market was worth 861K Units in 2020 and total revenue is expected to grow at a rate of 31.8 % CAGR from 2021 to 2027, reaching almost  5,948 K Units in 2027.

 Electric Scooter  Market Overview:

The Maximize Market Research Report examines a number of factors that support market expansion. The analysis covers market trends, opportunities, difficulties, and elements that either benefit or harm the market. The several industries and uses that might affect the market during the course of the predicted term are also covered in this section. This data is based on both current and historical tendencies. A summary of the production for each kind from 2022 to 2029 is also provided in this section. In this section, the regional output from 2022 to 2029 is discussed. The price ranges for each category, the region, and the entire planet are 2022 to 2029.

Market Scope:

The  Electric Scooter  Market is anticipated to expand at the fastest rate between 2022 and 2029. In addition to examining trends in supply and demand, the Maximize Market Research (MMR) report also examines costs, prices, shares, volumes, sales, and gross profits. The manufacturing unit, capacity, production, factory price, market price, and market share of each company are examined in this MMR data collection.

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Electric Scooter  Market Drivers:

The absence of charging infrastructure will be the main impediment to the expansion of the electric scooter and motorbike sector. The most significant consideration for any user when purchasing an electric two-wheeler is the ease with which that vehicle may be charged anywhere and at any time. Most emerging countries, unlike developed countries, lack the requisite charging infrastructure. Manufacturers have begun to provide their own charging stations; nonetheless, these are insufficient to make the charging process simple.

With time and increasing support from government agencies in various nations, the electric scooter and motorbike market is likely to increase. Many countries have acknowledged the need to go electric in order to minimize rising pollution from automobiles, with the United States and China leading the way. By 2025, India may discontinue making ICE two-wheelers in the 150 cc market, according to a recent announcement. In the future, many countries will enact similar legislation and policies in favor of electric two-wheelers. Manufacturers would also benefit from tax and import-export concessions, resulting in an increase in the market for electric scooters and motorcycles.

Electric Scooter  Market Segmentation:

Based on Product, the market is sub-segmented Retro, Standing/Self-Balancing and Folding. Due to the shift toward green vehicles for short-distance commuting, the retro sector led the market with a revenue share of more than 50% in 2020. This action has helped consumers all over the world lower their overall commute expenditures. However, in countries such as the United States, the situation is changing, as an increasing number of millennial living in cities are opting for more practical, lightweight automobiles with lower operating costs. Over the forecast period, the folding variant is expected to grow at a CAGR of 10.1 %. Demand for folding e-scooters has risen as a result of the introduction of next-generation smart electric scooters with big data and IoT technology, as well as the need for product differentiation. However, from 2020 to 2028, the control and convenience of standing/self-balancing e-scooters in commercial and domestic applications for combining daily activities is expected to drive demand.

Based on Battery type, the market is sub-segmented into Sealed Lead Acid, NiMH and Li-Ion. Because of the benefits of the SLA battery, such as robustness, damage tolerance, and low cost, the SLA battery sector dominated the market with a revenue share of more than 60% in 2020. However, because SLA batteries are big and deplete quickly even when not carrying heavy loads, their use is expected to reduce in the coming years. The lithium-ion battery market is expected to grow at a rate of 10.4 % per year. Lithium-ion batteries are predicted to become more affordable in the next years, with prices falling by roughly 70% by 2028. As a result, electric scooter prices are projected to fall as well. The market for battery-operated e-scooters is expanding due to more ecologically friendly batteries and a growing need for high-performance batteries such as Li-ion and NiMH. High charging-discharging efficiency, high charge density, and lightweight are just a few of the advantages offered by these batteries.

Some prominent players in the  Electric Scooter  Market

• Gogoro Inc.
• Terra Motors Corporation
• Mahindra GenZe
• Vmoto Limited
• Jiangsu Xinri Electric Vehicle Co. Ltd
• BMW Motorrad International
• Honda Motor Co. Ltd.
• Brammo, Inc.
• AllCell Technologies
• Mahindra & Mahindra Ltd
• Yamaha Motor Company Limited

Regional Analysis:

The MMR report covers all of North America, Asia-Pacific, Europe, Latin America, the Middle East, and Africa. MMR takes into account important market segments and sub-segments as well as important market sectors in this study. The MMR report evaluates the local development of creative nations based on market size, percentage, and volume. Volume, area, sales, market chain systems, and trends are just a few of the many various ways that numbers can be expressed.

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COVID-19 Impact Analysis on  Electric Scooter  Market:

The COVID-19 Regulation will have a significant impact on societal, commercial, and labour goals between 2020 and 2021. COVID-19 urgently need industrial backing and ingenuity since it has the ability to destroy our civilization and way of life. For migrant labourers in India, COVID-19 has caused a variety of issues. Millions of migrant workers have been affected negatively by the embargo, including job losses, food shortages, and worries about the future.

The major objective of this MMR report is to comprehend the contemporary economy, COVID-19, and its implications for the economy. MMR is keeping an eye on COVID-19 throughout all divisions, specialisations, and disciplines. Comparable data from the Maximize Market Research Report can be used to assess how COVID-19 has affected industry losses and growth.

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Objective of the Study :

• To analyze the historical growth of the market size of Electric Scooter Market from 2021 to 2027
• To estimate and forecast the market size of Electric Scooter Market from 2021 to 2027 and growth rate until 2027.
• To classify and forecast Electric Scooter Market based on type, distribution channel, competitional landscape, and regional distribution.
• To identify dominant region or segment in the Electric Scooter Market
• To identify drivers and challenges fo r Electric Scooter  Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Electric Scooter   Market.
• To identify and analyze the profile of leading players operating Electric Scooter Market.

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