Global Electric Scooters Market is estimated to be US$ XX Bn in 2019 and is projected to reach a market size of US$ XX Bn by 2027, at a CAGR of 9 % during the forecast period.
Global electric scooters market have seen ups and down since its first launch in 19th century to present. Market dynamics are very different from what we saw in 2017 with the introduction of kick scooters. The technologies have changed so fast in these recent years that many big players in electric motorcycle manufacturers include Cezeta, Victory Motorcycles, Mahindra, Zero Motorcycles, Lightning Motorcycle, Energica Motor Company, Johammer, Evoke Motorcycles, Yo, Gogoro, Current Motor Company, KTM, Okinawa scooters, Ather Energy, Bajaj Auto, Ampere Vehicles, Bird, Revolt, etc. have started considering different segments to understand the basic needs and to flourish the market by giving best choice to customer. The market of electric scooters, kick scooters, and all different categories have seen growth in recent years. The total sell of these scooters compared to fuel/gas scooter is XX% and growing with a significant share in automotive scooter domain.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Drivers and Restraint:
Electric scooters are very comfortable and easy to ride, they are of two types including two and three-wheeled. Like mentioned before current manufactures are concentrating on new technologies, concepts, and study economies across the world to launch new scooters in market. These new scooters have better power source (24V, 36V and 48V), range (miles/Km), performance (speed, comfort) and controlled noise range. Considering speed and range new concept of power electric scooters is in trend. Using lithium batteries in new power scooters, with wide range of models are blooming the market.
Taking into account the real world experience NDS Lio+ covers 180 Km with top speed of 55kmph, where Okinawa iPraise covers 150km with top speed of 75kmph. Furthermore, manufactures like Revolt launched electric bike RV 400cc in India and has strategic plans to drive the market. The profit delivered by electric scooters is another reason why electric scooters are much in demand, for example they are compact, easy to handle, easy to maneuver, fast charging, cost efficient and low priced. Also, in the case of a hybrid scooter, the presence of the internal combustion engine with the electrical system makes the hybrid scooter cheaper and easy to drive in conditions where traffic is more.
Environmental benefits of electric scooters over conventional gasoline-powered scooters are expected to drive their sales over the forecast period. Moreover, the prices of electric scooters are reduced by XX%, and manufacturers are introducing a range of new stylish models to lure more customers. Third parties are much more interested in kick scooters to promote conventional use of these scooters at tourist spots, private properties and big city planning. We have studied the effect of these scooters in real world and how they influence government and private people to invest in further development of electric scooter in North America, Europe, Asia and rest of the world. California was leading state in kick scooter market and has shown a big leap from 2017 to 2019, with different manufacturing companies entering with third parties to drive the market of electric scooter market.
However, there are many concerns and doubts on electric scooters, which is big hindrance to this market. In last few years, because of high price maintenance, battery failure, unexpected repairs, lack of service centres, with very important factors like lack of publicity and public knowledge about electric scooters are limiting their growth in current market. Other topic like long range, charging points, alternative battery, and government regulation are big concern faced by manufacturing companies across the world. For example, tiny- wheeled electric scooters transport revolution could be about to end as quickly as it began, due to the major accidents and government revolt on their use and banned from all public roads, sidewalks and cycle lanes.
Based on product, electric kick scooters accounted for a significant share in 2019, due to the growing use of Segway, kick scooters in the hotel and tourism industry. The recreational and tourism use of these scooters is 10 folds in United States and is becoming a faith leading to its increased adoption. In terms of battery type, Lithium-ion battery-furnished electric scooters market share is expected to witness strong growth at over 12% from 2019 to 2026. The batteries are preferred due to low weight compared to lead-acid alternatives. By voltage, the 48V segment held share of over 19% in 2019 and is projected to witness significant growth over the forecast period. The high voltage levels of batteries offer a cost-effective chance for the hybridization of vehicles. The demand for high voltage batteries is upgrading to reduce carbon dioxide emissions using start-stop and recovery features.
Region-wise, Asia Pacific electric scooters market accounted for over X8% of the industry share in 2019, on account of the regional growth in vehicle charging infrastructure expense and urbanization. North America is a prominent region over the forecast period in terms of growth and projected to hold XX% market, thanks to all thriving segments and new launch in different categories of electric scooter. Entrance of new players in this region and supportive third party merges have given a wide range to bloom in current market. Players from China, India and Indonesia are focusing across the world economies and regulation and trying to manufacture likewise product, which is going to thrive the market growth of global electric scooter market.
The objective of the report is to present a comprehensive analysis of Global Electric Scooters Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Electric Scooters Market dynamics, structure by analyzing the market segments and project the Global Electric Scooters Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Electric Scooters Market make the report investor’s guide
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The Scope of the Global Electric Scooters Market:
Global Electric Scooters Market by Product
• Electric Retro Scooter
• Electric Kick Scooter
Global Electric Scooters Market by Battery Type
• Sealed Lead Acid
Global Electric Scooters Market by Technology
Global Electric Scooters Market by Voltage
Global Electric Scooters Market by Geography
• North America
• Middle East & Africa
• Latin America
Key Players Operating in the Global Electric Scooters Market
• Gogoro Inc.
• Terra Motors Corporation
• Mahindra GenZe
• Vmoto Limited
• Jiangsu Xinri Electric Vehicle Co. Ltd
• BMW Motorrad International
• Honda Motor Co. Ltd.
• Brammo, Inc.
• AllCell Technologies
• Mahindra & Mahindra Ltd
• Yamaha Motor Company Limited
• Suzuki Motor Corporation
• KTM AG
• Peugeot Scooters
• Green Energy Motors Corp
• Kymco lonex
• Zhejiang Luyuan
• Amego Electric
• Alta Motors
• Energica Motor Company
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