Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Scooter Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global scooter market is poised for remarkable expansion, with its value soaring from $64.21 billion in 2022 to an estimated $69.36 billion in 2023, demonstrating a remarkable Compound Annual Growth Rate (CAGR) of 8.02%. The scooter market is projected to reach $90.64 billion by 2027, maintaining a steady CAGR of 6.92%.
In-Depth Market Insights
The scooter market research report offers comprehensive insights into the industry's global market size, regional distribution, competitive landscape, market segments, trends, and opportunities. This report serves as an indispensable resource, furnishing readers with a thorough analysis of the present and future outlook of the scooter industry.
Technological Innovation Takes the Lead
One of the key trends shaping the scooter market is technological advancement. Innovations like artificial intelligence are being seamlessly integrated into scooter manufacturing processes. These technologies are instrumental in traffic management, battery preservation for electric scooters, aiding delivery services in route tracking and parking, and much more. For instance, a notable collaboration took place in April 2022 when Voi Technology, a Swedish micro-mobility startup, partnered with Drover AI. This alliance introduced AI-driven computer vision into e-scooters across Oslo, ensuring adherence to traffic regulations and facilitating safe driving experiences. Drover AI, known for its AI-backed IoT solutions, specializes in managing fleets of last-mile vehicles.
Industry Reshaping Acquisitions
In March 2022, Tier, a prominent shared micro-mobility provider in Europe, made a significant acquisition. The company acquired Spin, a micromobility operator previously owned by Ford. This undisclosed deal enhances TIER's reach in North America, positioning it as the largest multimodal micromobility provider globally, both in terms of city presence and vehicle count. Spin, based in San Francisco, adds an extra layer of expertise to Tier's endeavors.
Regional Dynamics and Market Expansion
Asia-Pacific stood as the largest region in the scooter market in 2022, and this trend is predicted to continue as the region witnesses rapid urbanization and increased demand for last-mile transportation solutions. The regions covered in this report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Global Market Reach
The report comprehensively covers countries such as Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. This thorough analysis enables readers to grasp the unique dynamics and growth opportunities in each market.
Infrastructural Investment Boosts Market Growth
Investments in road construction play a pivotal role in the growth of the scooter market. Road construction efforts contribute to the maintenance, repair, and establishment of new roadways, ensuring smoother transportation. Well-constructed roads are essential for the efficient functioning of scooters and other two-wheelers. Many countries are funneling resources into road infrastructure to enhance transportation facilities. For example, the Indian government allocated $13.14 billion to the Ministry of Road Transport and Highways for road and highway construction. This investment augments the scooter market by facilitating improved transportation.
Diverse Market Segmentation
The scooter market encompasses various product types, including electric scooters, gas scooters, and kick scooters, each tailored to meet distinct mobility needs. The market report delves into critical segments, distribution channels, and application areas, providing a comprehensive overview of the industry's landscape.
Reasons to Invest in the Report
This comprehensive report offers unparalleled insights to businesses, enabling them to:
- Gain a global perspective by delving into 50+ geographies
- Understand the impact of COVID-19 on the market and its subsequent recovery
- Evaluate the repercussions of the Russia-Ukraine conflict on commodity supply and global markets
- Measure the influence of heightened global inflation on market growth
- Devise effective regional and country strategies through localized data and analysis
- Identify investment avenues within growth segments
- Outpace competitors using forecast data and market trends
- Benchmark performance against key industry players
- Enhance presentations with reliable data and analysis for both internal and external stakeholders
Key Insights Addressed
The report answers pivotal questions that shape industry understanding:
- Where is the most expansive and rapidly growing scooter market?
- How does the market correlate with the broader economy and demographic trends?
- What forces will play a decisive role in shaping the market's future?
The report encapsulates market characteristics, size, growth patterns, segmentation, competitive landscape, market shares, and strategies. It offers a historical and forecasted analysis of market growth by geography, enabling businesses to make well-informed decisions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $69.36 billion |
| Forecasted Market Value (USD) by 2027 | $90.64 billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Major players in the Scooter market are
- Yadea Technology Group Co. Ltd.
- Ninebot Limited
- Neutron Holdings Inc. (Lime)
- Bird Rides Inc.
- Spin
Key Topics Covered:
1. Executive Summary
2. Scooter Market Characteristics
3. Scooter Market Trends And Strategies
4. Scooter Market - Macro Economic Scenario
4.1. COVID-19 Impact On Scooter Market
4.2. Ukraine-Russia War Impact On Scooter Market
4.3. Impact Of High Inflation On Scooter Market
5. Scooter Market Size And Growth
5.1. Global Scooter Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Scooter Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Scooter Market Segmentation
6.1. Global Scooter Market, Segmentation Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Electric Scooters
- Gas Scooters
- Kick Scooters
6.2. Global Scooter Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Individual
7. Scooter Market Regional And Country Analysis
7.1. Global Scooter Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Scooter Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/vbvqph
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