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 a long range of
120kms per charge. The ETRANCE scooter has a ground to handle the 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
the 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.
The Asia Pacific dominated the global market in 2020 and
is predicted to continue its dominance over the forecast period. The growth is
accredited to the presence of an increasing number of e-scooter manufacturers
and rising vehicle charging infrastructural investments in countries such as
Taiwan, India, and China. In 2020, China acquired over 84% of the revenue in
the Asia Pacific market. North America is poised to grow at a considerable pace
from 2021 to 2028. The growth in the region is owing to the faster adoption of
electric vehicles in the U.S. as an alternative to traditional fuel
transportation.
Related Press Release@ Electric Scooters Market Report
Electric Scooters Market Report Highlights
- By
product, the retro segment is expected to dominate the e-scooters market
owing to significant demand for the same among the youth and elderly
population
- Based
on battery, the sealed lead acid segment dominated the market with more
than 60% revenue share in 2020 due to benefits such as low cost, and
robustness. However, the share is anticipated to decline swiftly owing to a
significant rise in demand for Li-Ion batteries
- The
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.; Mahindra GenZe; Gogoro, Inc.;
Jiangsu Xinri E-vehicle Co. Ltd.; and Hero Electric
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