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 Grand View Research, 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. 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. In May
2019, Pure EV launched two electric scooters for the Indian market, EPLUTO and
ETRANCE, with the 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 specifically designed with the women population in the
country.
The
year 2018 witnessed the introduction of various battery-operated two-wheelers,
for instance, Vespa Electrica by Piaggio & C. SPA. The following year was
highly promising for most electric scooter vendors owing to the various
strategies adopted by them to expand their fleet to international markets.
Besides this, well-established two-wheeler companies launched their electric
scooters and invested in the installation of charging systems and
infrastructure across various countries. For instance, Gogoro, Inc. and KYMCO
expanded their reach in other regions to capture the benefit of untapped
market. GenZe By Mahindra, YAMAHA Motor Pvt. Ltd., VÄSSLA ELECTRIC SCOOTERS.,
and PURE EV are among other players that integrated swappable battery systems
in their electric scooter variants. Moreover, the governments in several Asian
and European countries have been offering subsidies to drive the sale of
battery-powered two-wheelers. These initiatives are anticipated to become more
robust with increasing gasoline prices.
Asia
Pacific dominated the global market in 2019 and is predicted to continue its
dominance over the forecast period. The growth in the region is accredited to
the presence of increasing number of e-scooter manufacturers and rising vehicle
charging infrastructural investments in countries such as Taiwan, India, and
China. In 2019, China acquired over 84% of the revenue in the Asia Pacific
market. North America is poised to grow at a considerable pace from 2020 to
2030. The growth in the region is owing to faster adoption of electric vehicles
in the U.S. as an alternative to traditional fuel transportation.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/electric-scooters-market
https://www.grandviewresearch.com/industry-analysis/electric-scooters-market
Further key findings from the study suggest:
- By product,
the retro segment is expected to dominate the E-scooters market owing to
significant demand for the same among youth and elderly population
- Based on
battery, the sealed lead acid segment dominated the market with a 63.8%
share in the market in 2019 due to benefits such as low cost, and
robustness. However, the share is anticipated to decline swiftly owing to
significant rise in demand for Li-Ion batteries
- Asia Pacific
is expected to be the largest regional market over the forecast period
owing to significant investments in vehicle charging infrastructure and
government subsidies for battery-powered scooters
- Prominent
industry participants include Gogoro, Inc.; Piaggio & C. SPA; Mahindra
GenZe; Gogoro, Inc.; Jiangsu Xinri E-vehicle Co. Ltd.; and Hero Electric.
About Us:
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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