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 research includes in depth analysis on a global and regional Electric Scooter markets and also gives a thorough analysis of the market’s long term prospects. A description of key competitors as well as the most successful marketing tactics, contributions and current trends and market backdrops are all included in the report.
Market data in the report is organised in areas like innovation, administration, and applications across topographies in MMR research. The research includes the high end analysis of important market sectors and opportunities and threats and risks is included in the MMR research.
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Market Scope
The report focuses on the crucial key drivers of the Electric Scooter market as well as the current competitive benchmarking and development prospects. For the competitive analysis the report includes the profile of the key market players in the Electric Scooter market including company overview, financial performances, portfolios and marketing strategies. Uses of methodologies were done while researching the Electric Scooter market such as SWOT, PESTLE, PORTER’s five forces to understand the strengths, weakness, opportunities and known and unknown risks and threats. It also comprises of the qualitative and quantitative data for research of the Electric Scooter market.
Market Dynamics
One of the key factors influencing the electric scooter and motorcycle industry is the rising cost of petroleum products. Rising gasoline prices are already having an impact on consumers in emerging economies. The operating costs of two-wheelers will drop significantly with the introduction of electric motors. These two-wheelers use less fuel than regular motorcycles do. Manufacturers are anticipated to create electric motorcycles and scooters with a greater range than the current generation of electric two-wheelers. Because there are fewer moving parts than on conventional two-wheelers, maintenance won't be a problem.
Market Segmentation
The market is divided into three sub-segments based on product: Retro, Standing/Self-Balancing, and Folding. With a revenue share of more than 50% in 2020, the retro sector dominated the market as a result of the shift towards green vehicles for short-distance commuting. Consumers all over the world have been able to reduce their overall commute costs thanks to this action. However, the situation is changing in nations like the United States as more millennials choosing to live in cities are choosing more practical, lightweight cars with lower operating costs. The folding variant is anticipated to expand at a CAGR of 10.1% during the forecast period.
The market is divided into Sealed Lead Acid, NiMH, and Li-Ion segments based on the type of battery used. SLA batteries have advantages like robustness, damage tolerance, and low cost, and as a result, the SLA battery sector dominated the market in 2020 with a revenue share of more than 60%. The use of SLA batteries is anticipated to decline in the upcoming years due to their size and quick deterioration even when not supporting heavy loads. 10.4% annual growth is projected for the lithium-ion battery market. It is anticipated that lithium-ion battery costs will decrease over the coming years, by about 70% by 2028.
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Key Players
• 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
• Suzuki Motor Corporation
• KTM AG
• Peugeot Scooters
• Green Energy Motors Corp
• Kymco lonex
• Yadea
• Aima
• Zhejiang Luyuan
• Niu
• Amego Electric
• Alta Motors
• Energica Motor Company
Regional Analysis
The report includes division of the Electric Scooter market segments into different regions and their significant growth during the forecast period. The Electric Scooter market report includes the geographic condition of the market and revenue as well as in depth research of the business network structure and new updates of market.
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Key Questions answered in the Electric Scooter Market Report are:
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Electric Scooter Market , Electric Scooter Market Future Trend , Electric Scooter Market Analysis
Mar 06, 2023
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