Increase In Demand: From 19.0 Billion USD In 2020, The “Electric Scooters Market” 2021 will register a 7.0%% CAGR in terms of revenue during the forecast period years and the global Market Size will reach 33.7 Billion USD by 2027, Increasing demand for Electric Scooters from various end-user industries including Passenger Cars, Commercial Vehicles is expected to drive the consumption of Electric Scooters Market during the forecast period. The Research Report provides Key analysis on the market status of the Electric Scooters manufacturers with best facts and figures, meaning, definition, SWOT analysis, expert opinions and the latest developments across the globe, The Report is spread through 150+ Pages and also calculate the market size, Sales, Price, Revenue, Gross Margin and Market Share, cost structure, growth rate and Browse Data Tables and Figures with in-depth TOC on Electric Scooters Market.
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|Market Size||USD 33.7 Billion by 2027|
|Growth Rate||CAGR of 7.0% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Product, battery, voltage And Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Mahindra GenZe; BMW Motorrad International; Vmoto Limited; Terra Motors Corporation; Gogoro Inc.; Jiangsu Xinri Electric Vehicle Co. Ltd.|
Increasing adoption of electric scooters(e-scooters) among the young population, the 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 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 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.
Electric Scooters Market Highlights of the Report:
- 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
COVID-19 Impact on Electric Scooters Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Electric Scooters market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Electric Scooters market 2021 onwards. This trend will however continue through the course of the report’s assessment period
Asia Pacific dominated the global e-scooters market and was valued at USD 14.2 billion in 2020. Most electric scooter manufacturers have emerged from China, Taiwan, and Japan, acquiring the largest share all over the world. China has emerged not only as a leading consumer of electric scooters but also as a leading producer and exporter. Vendors active in the China market include Jiangsu Xinri Electric Vehicle Co., Ltd., Yadea, AIMA Group, Zhejiang Luyuan, and Niu International. In addition to this, the regional market is fueled by the growing awareness among consumers to adopt clean energy transportation to curb vehicular emissions, rapid urbanization, and the increasing affordability of e-scooters. Additionally, research and development activities will continue to give this market a significant boost over the next decade.
North America is slated to witness the highest CAGR of 13.1% over the forecast period. Growing investment in electric vehicle charging infrastructure and research support for innovative high-density batteries is anticipated to contribute to overall regional growth. For instance, Revel entered into the U.S. market with an investment of USD 27.1 million and rolled out 68 MUVI electric scooters manufactured by Spanish company Torrot.
Moreover, witnessing a steep growth in the entry of international electric scooter manufacturers, vendors active in the region are focusing on launching multiple variants of electric scooters to attract the young population. Such strategies adopted by companies operating in the region are expected to fuel the overall growth of the regional market.
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Recent report on the Electric Scooters market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Electric Scooters market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Electric Scooters market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global Electric Scooters market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the Electric Scooters market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.
The report delves into the competition landscape of the global Electric Scooters market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Electric Scooters market that are profiled in this report.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The Electric Scooters market is analyzed at both regional and country levels.
Key Players & Strategies
The prominent market participants focus intensely on the research & development activities as well as various other product development strategies to gain a competitive edge in the global market. Further, these companies also focus towards collaborating or partnering with ride sharing service provider companies to impel the future growth of electric scooters sharing services. In addition, rising concern for environment protection also drives the trend for ride sharing that offers lucrative opportunity for the market players to tap the significant market penetration in ride sharing for e-scooters.
Some of the prominent players in the Electric Scooters Market include: Mahindra GenZe; BMW Motorrad International; Vmoto Limited; Terra Motors Corporation; Gogoro Inc.; Jiangsu Xinri Electric Vehicle Co. Ltd.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
- By Product
- By Battery
- Sealed Lead Acid
- By Voltage
- Greater than 48V
A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Electric Scooters market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Electric Scooters market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Key Questions are
- What are the key factors influencing the Electric Scooters market in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
Why should you invest in this report?
If you are aiming to enter the global Electric Scooters market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Electric Scooters are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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