E Scooter Market Size, Growth, Share, Trends - Forecast 2023

The escalation in demand for battery-based electric vehicles due to environmental pollution measures is expected to strengthen the global e-scooter market. Reports that explore the automobile industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is predicted to gain considerable momentum in the forecast period.

The popularity of rechargeable batteries is expected to fuel the -scooters market further in the coming years. The reduced operating costs associated with the use of e-scooters is expected to motivate the market in the forthcoming period. Also, the upsurge in fuel prices and upkeep of fuel-powered vehicles is expected to motivate the e scooter market size in the forecast period.

Segmental Analysis

The evaluation of the segments in the e-scooters market is carried out on the basis of battery type, voltage, category, and e-scooter type. Based on the battery type, the e-scooters market is segmented into Li-ion, sealed lead acid, and others. On the basis of voltage, the e-scooters market is segmented into 24V, 36V, 48V, more than 48V. The 48V and more than 48V segment had acquired the largest share in 2017 and is predicted to sustain the similar growth over the forecast period. On the basis of category, the e-scooters market is segmented into L3e and L1e. The L1e segment comprises of light two-wheel powered vehicle while L3e comprises of two-wheeler motorcycle. On the basis of e-scooter type, the market is segmented into standing/self-balancing, retro, and folding.

Detailed Regional Analysis   

The regional study of the e-scooter market includes regions such as North America, Asia Pacific, Europe, and Rest of the World. Among these regions, the Asia Pacific was responsible for the largest share in 2017, owing to the development in the vehicle charging infrastructure in developing countries such as Taiwan and China, which is often regarded as the home for the production of these vehicles. While, the electric vehicle industry in India is still at a blossoming stage, wherein the electric vehicles are responsible for less than 1% of the total vehicle sales. Currently, the electric vehicle industry in India possesses the potential to surpass more than 5% in a few years. However, the North American region is anticipated to be responsible for the major share over the forecast period, with U.S. as a promising user of these vehicles owing to the incidence of numerous large manufacturers.

Competitive Analysis

The fiscal inflows in the market are being focused towards growing the inventions in the central product offering presented in the market so that the development doesn’t go off in the approaching period. The motive of properly bolstering the global economy is being driven through the development of this market as well. The global administrations have also contributed substantially towards the development of the market in current years. The rise of sponsors in the market has put on an essential role in the advancement of the market. The decrease in the barriers to trade is anticipated to extend innovative areas for development in the forthcoming years. Also, the competition being noticed in the market is not unfavorable to the distinct player’s progress in the market. The market is well equipped to navigate the shifting tides, abrupt upheavals, and unexplored waters in the global economy.  The market has obtained an incremental stride in the past few years, which is emphasized by the accomplishments in terms of valuation. The expansion of the resources required to withstand against competition has enhanced significantly leading to a record progress rate.

The e-scooters market is governed by the primary companies such as Vmoto Limited (Australia), Terra Motors Corporation (Japan), Gogoro Inc. (Taiwan), Kumpan Electric (Germany), Torrot Group (Spain),  Jiangsu Xinri Electric Vehicle Co. Ltd. (China), Mahindra GenZe (U.S.), Amego Electric Vehicles Inc. (Canada). NYCeWheels (U.S.), Ampere Vehicles Pvt. Ltd. (India), Hero Electric Vehicles Pvt. Ltd. (India), GOVECS GmbH (Germany), and Ather Energy (India) are among others.

 

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