WASHINGTON, May 03, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Electric Scooter Market finds that the advancements in battery technologies are expediting market growth. Primarily driven by supportive government policies to reduce harmful emissions, the total Global Electric Scooter Market is estimated to reach USD 29.9 Billion by the year 2028.
The Global Market value stood at USD 19.6 Billion in the year 2021; and the market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 7.3%.
Furthermore, the growing consumer preference for electric vehicles supported by government incentives is also anticipated to augment the growth of the Global Electric Scooter Market, states Vantage Market Research, in a report, titled “Electric Scooter Market Size, Share & Trends Analysis Report by Product (Retro, Standing/Self-Balancing, Folding), by Battery (Sealed Lead Acid, NiMH, Li-Ion), by Voltage (24V, 36V, 48V, Greater than 48V), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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- The report analyzes the Electric Scooter market competitive landscape and offers information on several market vendors.
- An Exclusive study come up with Vantage Market Research experienced researchers projected value of USD 29.9 Billion at a CAGR of 7.3%.
- It offers additional highlights and key points on various market segments and their impact in the coming years.
- The sample report includes Latest Drivers and Trends in the Market.
- Comprehensive information on factors that will assist Electric Scooter market growth during the next five years.
- The report offers predictions on upcoming trends and changes in consumer behavior.
- Comprehensive study involving market types, application and end-users.
- To understand more about Market Dynamics, get access to our free sample report.
Market Dynamics:
Driver: Increase in State Policies, Government Incentives and Subsidies to Fuel Global Electric Scooter Market
In most of the countries, governments are providing to subsidies to promote the growth of the electric vehicles owing to the increasing greenhouse gas emissions and environment pollution. For instance, in Austria, government planned to provide subsidies for electric two-wheelers from 700 to 800 euros (class L1e), from 1,000 to 1,200 euros (class L3e) which include e-mopeds, e-motorbike, e-bikes and e-cargo bikes and from 400 to 850 euros for electric bicycles. Furthermore, most of the states have implemented financial incentives, which include rebates, tax credits, and registration fee reductions designed to promote EV adoption. Thus, owing to increase in such incentives and subsidies the demand for electric scooter is also increasing. Furthermore, the increasing consumer preference for electric bikes owing to the increase in awareness about the benefits of using it is also expected to support the growth of the market in the years to come.
The Electric Scooter Market covers the following key insights & findings:
- Exclusive Summary: Basic statistics on the global Electric Scooter market.
- The changing effect on market dynamics – global part provides driving factors, trends, challenges and opportunities; post-COVID analysis.
- View 2022-2028 by type, end user and region/nation.
- Evaluate industry by market segments, countries/regions, manufacturers/companies, revenue share and sales of these companies in these various regions of major countries/regions (2022-2028).
- Understand the structure of the Electric Scooter market by identifying its various sub-segments.
- Researchers shed light on market dynamics, such as drivers, restraints, trends, and opportunities.
- It offers massive data about the trending factors that will influence the progress of the market.
- In-depth understanding of Electric Scooter Market drivers, restraints, and major micro markets.
- Regional analysis: Asia Pacific Region to Stand Firm on its Leading Position in the industry.
- Free Report Customization: This report can be customized according to specific client needs.
- Key Strategic Developments: The study also includes the key strategic developments of the market, new product launch, comprising R&D, mergers and acquisitions, collaborations, joint ventures, agreements, partnerships, and regional growth of key competitors operating in the market globally and regionally.
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Segmentation of the Global Electric Scooter Market:
- Product
- Retro
- Standing/Self-Balancing
- Folding
- Battery
- Sealed Lead Acid
- NiMH
- Li-Ion
- Voltage
- 24V
- 36V
- 48V
- Greater than 48V
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Driver: Advancements in Battery Technologies to Stimulate Market Growth
The adoption of electric vehicles (EV) is increasing with each passing day. This has led most of the manufacturers to come up with new battery technologies which might perform more efficiently in less cost. The most advanced battery tech that could revolutionise EV charging is introduction of lithium carbon batteries. This technology is been unveiled by MAHLE Powertrain and Allotrope Energy which offers ultra-fast recharging with good power density. The technology combines the benefits of traditional lithium-ion batteries with super capacitors and enables a full charge to be delivered in a time that is similar to the time required in refuelling an internal combustion-powered vehicle. In addition, lithium carbon cells are fully recyclable, free from rare-earth metals, and not susceptible to run away. Thus, the new advancements in the battery technologies are also anticipated to fuel the growth of the market in the years to come.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the automotive industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Electric Scooter Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific to Dominate the Global Electric Scooter Market
Asia Pacific has dominated the Global Electric Scooter Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the increasing government subsidies for buying electric vehicles in different states in emerging economies like India and China in the region. For instance, in India, consumers of two-wheelers in Delhi can avail a subsidy of Rs 5,000 per kWh of battery capacity up to Rs 30,000 in addition to exemption on registration and road tax. Furthermore, in 2021 the government of Maharashtra, announced that the first 1 lakh electric two-wheeler buyers can be eligible for an incentive of Rs 5,000 per kWh of battery capacity, which is capped at Rs 10,000 and all electric vehicles in the state will be exempt from road tax and registration charges.
List of Prominent Players in the Electric Scooter Market:
- All Cell Technologies LLC
- BMW Motorrad
- BOXX Corp.
- Gogoro Inc.
- Green Energy Motors Corp.
- Green wit Technologies Inc.
- Honda Motor Company Ltd.
- Jiangsu Xinri E-Vehicle Company Ltd.
- KTM AG
- Mahindra Gen Ze
- Peugeot Scooters
- Suzuki Motor Corporation
- Terra Motors Corporation
- Vmoto Limited
- Yadea Technology Group Company Ltd.
- Yamaha Motor Company Ltd.
- Xiaomi
- Ninebot Limited
- Bird
- Lime
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on "Electric Scooter Market Size, Share & Trends Analysis Report by Product (Retro, Standing/Self-Balancing, Folding), by Battery (Sealed Lead Acid, NiMH, Li-Ion), by Voltage (24V, 36V, 48V, Greater than 48V), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/electric-scooter-market-749986
Recent Developments:
January, 2022: Hero Electric announced a strategic pact in the electric vehicle space with Mahindra Group for electric scooters. As a part of the partnership, Mahindra Group will manufacture Hero Electric’s most popular electric bikes – Optima & NYX – at their Pithampur plant, in Madhya Pradesh to meet the growing demands of the market. Along with expansion this collaboration will help Hero to meet its demand of manufacturing over 1 million EVs per year by 2022.
Key Questions Answered in Electric Scooter Market Report:
- Which manufacturing technology is used for Electric Scooter Market?
- What developments are happening in that technology?
- What trends are causing these developments?
- Who are the global key players in this market?
- What are your company profile, your product information and contact information?
- What was Global Market Status of Electric Scooter industry?
- What was capacity, Production Value, Cost and PROFIT of Market?
- What is current Market Status Electric Scooter Industry?
- What is the market competition in this industry, both company and country wise?
- What's Market Analysis of Market by Taking Applications and Types in Consideration?
- What should be Entry Strategies, Economic Impact Countermeasures, and Marketing Channels for Electric Scooter industry?
This market titled “Electric Scooter Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Product • Retro • Standing/Self-Balancing • Folding • Battery • Sealed Lead Acid • NiMH • Li-Ion • Voltage • 24V • 36V • 48V • Greater than 48V • Region • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • AllCell Technologies LLC • BMW Motorrad • BOXX Corp. • Gogoro Inc. • Green Energy Motors Corp. • Greenwit Technologies Inc. • Honda Motor Company Ltd. • Jiangsu Xinri E-Vehicle Company Ltd. • KTM AG • Mahindra GenZe • Peugeot Scooters • Suzuki Motor Corporation • Terra Motors Corporation • Vmoto Limited • Yadea Technology Group Company Ltd. • Yamaha Motor Company Ltd. • Xiaomi • Ninebot Limited • Bird • Lime |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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