Electric Scooter and Battery Market Analysis/Electric Scooter and Battery Market Trends
The global electric scooter and battery market size will develop at a 17.93% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis.
Various factors are fuelling the global electric scooter and battery market share. As per the recent MRFR market estimates, such factors include the increasing demand for electric scooters, various strategic initiatives by key players, demand for electric scooters by tourists, growing need for energy-efficient commuting, governments supporting electric two-wheelers through tax rebates and subsidies, the growing need for fuel efficient vehicles, and increasing concerns over greenhouse and carbon gas emissions.
On the contrary, lack of charging infrastructure, design and performance standards, poor aftermarket services, underdeveloped charging infrastructure, high prices of electric scooters, and the impact of the COVID-19 pandemic may limit the global electric scooter and battery market growth over the forecast period.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global electric scooter and battery market based on travel range, voltage, product, and type.
By type, the global electric scooter and battery market is segmented into battery-based and plug-in. Of these, the battery-based type segment will lead the market over the forecast period for the increasing sales of electric scooters.
By product, the global electric scooter and battery market is segmented into folding, self-balancing, and retro. Of these, the retro product segment will dominate the market over the forecast period as these scooters offer users a longer driving range.
By voltage, the global electric scooter and battery market is segmented into more than 48V, 48V, 36V, and 24V. Of these, the more than 48V voltage segment will spearhead the market over the forecast period for the increasing need for higher driving range with reduced charging periods and higher weight carrying capacity.
By travel range, the global electric scooter and battery market is segmented into more than 40 km, 20km-40km, and up to 20km. Of these, the more than 40km travel range segment will have the lions share in the market over the forecast period.
Regional Analysis
By region, the global electric scooter and battery market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, the APAC region will dominate the market over the forecast period. Increase in electric scooter rental stores and kiosks, large sales production and sales volumes in China, the burgeoning need for affordable electric scooters for short-distance commuting, governments promoting electric two-wheelers, China’s rapidly growing economy, and advanced technologies to improve electrification are adding to the global electric scooter and battery market growth in the region.
In Europe, the global electric scooter and battery market is predicted to have second-largest share over the forecast period for the new emission standards introduced by the government.
In North America, the global electric scooter and battery market is predicted to have promising growth over the forecast period. Initiatives by the government towards the adoption of all-electric vehicles for mobility, increasing investment in electric vehicle charging infrastructure, research support for innovative high-density batteries, and focus to launch multiple variants of electric scooters to attract the young population are adding to the global electric scooter and battery market growth in the region.
In RoW, the global electric scooter and battery market is predicted to have sound growth over the forecast period.
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Electric Scooter and Battery Market Key Players
The key players profiled in the global electric scooter and battery market report include ZNEN MOTOR (China), PIAGGIO & C.SPA (Italy), TAIZHOU UGBEST EV CO., LTD (China), GOVECS AG (Germany), Greenwit Technologies (Canada), Gogoro Inc.(Taiwan), BOXX Corp. (US), Yamaha Motor Co. Ltd. (US), Terra Motors Corporation (Japan), Mahindra & Mahindra Ltd (India), Honda Motor Co., Ltd. (Japan), BMW AG (Germany), Jiangsu Xinri E-Vehicle Co., Ltd (SUNRA) (China), and Wuxi YADEA Export-Import Co. LTD. (China), among others.
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