Market Research Future (MRFR) projects the global e-scooters market to register a moderate 7% CAGR from 2020 to 2027 (forecast period).
Electric scooters are plug-in or battery-powered electric vehicles that can be charged from an external source of electricity. The electricity stored on board in a rechargeable battery can power one or more electric motors, allowing for locomotion. E-scooters have lower operating costs than conventional ICE vehicles while maintaining efficiency. Furthermore, because of their simple design, these vehicles help save money on fuel, spark plug changes, and oil filter replacements, resulting in low maintenance costs.
With growing pressure to reduce the global carbon footprint, e-mobility has emerged as an environmentally friendly option. Factors like rising fuel prices and the maintenance of fuel-powered vehicles are expected to have a positive effect on industry development. Manufacturers are focused on product development with technical advances in place, with decreasing battery prices, new government targets for the implementation of e-mobility, and decent growth in the renewable sector.
Furthermore, advances are being made in the production of solar-powered electric vehicles. In India, for example, ETI Dynamics unveiled a prototype of a next-generation solar electric hybrid scooter with a bendable solar panel and a top speed of 45 Kmph. The incorporation of solar panels in electric scooters is expected to increase range by 15-20%. This technology is only limited to electric cars and has not yet been commercialized for scooters. However, solar-powered scooters are expected to reach the roads in the coming years.
Get Free Sample PDF Brochure
https://www.marketresearchfuture.com/sample_request/5209
Developments in battery technologies are one of the major developments that will gain momentum in the e-scooter industry in the coming years. For example, advancements in Li-ion batteries have made e-scooters lighter and longer-lasting as compared to lead-acid and valve-regulated lead-acid (VRLA) batteries. As a result, the increasing concern among e-scooter manufacturers about the production of newer battery technologies with longer shelf lives is expected to result in continuous research and development, which is anticipated to boost the e-scooters industry. Furthermore, governments around the world are eager to reduce emissions levels through the implementation of strict emission standards, additional taxes on new vehicle purchases, subsidies, and special concessions on the purchase of e-scooters to consumers and manufacturers.
COVID-19 Impact on the Global E-Scooters Market
Electric scooters, also known as e-scooters, are plug-in electric vehicles. Such vehicles can be charged using an external power source. Electric scooters have lower operating costs than traditional ICE-powered vehicles. China is one of the world's largest producers of auto parts; however, the COVID-19 pandemic originated in China and has now spread throughout the world, prompting lockdowns in many countries to curb the virus's spread. The outbreak of COVID-19 has had a significant impact on the automotive industry, which is currently facing a number of challenges. The pandemic has had a significant impact on both product demand and supply chains in the automotive industry, resulting in disruptions in supply chains from China and a drop in demand for automotive products. Furthermore, changes in consumer behavior as a result of the economic crisis have had serious consequences for the industry's future growth.
The COVID-19 has had a significant impact on the overall scooter industry due to the closure of manufacturing facilities, which has slowed vehicle production. Disruptions in distribution and final assembly, as well as delays in product launches, are also impeding the market growth. The lockdowns have caused the temporary closure of manufacturing plants and other businesses, resulting in lower sales of electric scooters in various countries. According to the MRFR report, Asia Pacific has the largest market share and vehicle charging infrastructure in developing countries like Taiwan and China, which are frequently regarded as vehicle manufacturing hubs. After the pandemic, when most countries' lockdowns are lifted, the resumption of manufacturing operations is expected to improve production and sales of electric scooters.
Browse In-depth Market Research Report (100 pages) on E-Scooters Market:
https://www.marketresearchfuture.com/reports/e-scooters-market-5209
Market Segmentation
Based on battery type, the global e-scooters market has been segmented into sealed lead acid, Li-ion and others. Until recently, sealed lead-acid batteries were widely used due to their advantages, such as robustness and low cost. However, overheating and the bulkiness of these batteries as a result of charging are some of the drawbacks that cause them to discharge quickly even when not subjected to heavy loads. Lithium-ion battery packs, on the other hand, have higher performance and benefits as compared to other battery types. As a result, e-scooter manufacturers around the world are gradually increasing their use of li-ion batteries.
Based on voltage, the global e-scooters market has been segmented into 36V, 24V, 48V, more than 48V. In 2017, the 48V and more than 48V segment earned the largest share and was anticipated to maintain the same growth over the review period. Moreover, the high voltage levels offered by these battery segments help in cost-effective opportunities for the hybridization of vehicles.
Based on category, the global e-scooters market has been segmented into L1e and L3e. L1e includes a light two-wheel powered vehicle, whereas L3e includes a two-wheeler motorcycle.
Based on e-scooter type, the global e-scooters market has been segmented into retro, standing/self-balancing and folding. Among these, standing/self-balancing scooters are projected to witness positive growth over the forecast period.
Share Your Queries
https://www.marketresearchfuture.com/enquiry/5209
Regional Analysis
The Asia Pacific accounted for the largest share in 2017, owing to the expansion of vehicle charging infrastructure in developing countries such as China and Taiwan, which are often regarded as the home of vehicle manufacturing. Although the Indian electric vehicle industry is still in its infancy, with electric vehicles accounting for less than 1% of total vehicle sales. More than 95% of electric vehicles in India are currently low-speed electric scooters travelling at less than 25 kilometres per hour. However, the country's electric vehicle industry has the capacity to grow to more than 5% in a few years.
Key Players
The global e-scooters market is led by major players such as Terra Motors Corporation (Japan), Gogoro Inc. (Taiwan), Jiangsu Xinri Electric Vehicle Co. Ltd. (China), Vmoto Limited (Australia), and Amego Electric Vehicles Inc. (Canada). GOVECS GmbH (Germany), Kumpan Electric (Germany), Ampere Vehicles Pvt. Ltd. (India), NYCeWheels (U.S.), Mahindra GenZe (U.S.), Hero Electric Vehicles Pvt. Ltd. (India),Torrot Group (Spain), and Ather Energy (India) are among others.
Browse Related Reports:
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Follow Us: LinkedIn | Twitter
